REAL ESTATE

Target Canada openings confirmed

BY Staff Writer

Minneapolis — Target on Thursday confirmed the list of the stores that it intends to open across Canada in 2013.

As previously reported, Target purchased the leasehold interests of 189 sites currently operated by Zellers, and is slated to open 125 to 135 stores in Canada, the majority of which will open in 2013.

The latest announcement confirms the first 125 stores that will open in 2013, and later this year, Target will confirm additional store locations that will open starting in early 2014 and beyond.

"Construction has already begun on our first set of stores and we are excited to see the transformation as the Target brand comes to life in Canada," Target Canada president Tony Fisher said.

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SUPPLY CHAIN

PetSmart to open new DC in Berks County

BY Staff Writer

Harrisburg, Pa. — Pennsylvania governor Tom Corbett said Thursday that PetSmart will open a new distribution center in Bethel Township, Berks County, Pa.

PetSmart will construct an 870,000-sq.-ft. distribution center in Berks Park 78, a new industrial park located in Bethel Township. The company will start construction on the $50 million distribution center in the fall of 2012, with completion expected in first quarter 2014.

The project is expected to create at least 500 new jobs by 2016.

PetSmart received a $2.3 million funding offer from the Department of Community and Economic Development, including a $1 million PA First grant, $245,250 in job training assistance and $1.09 million in Job Creation Tax Credits.

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FINANCE

Christopher & Banks announces new $50 million secured credit facility

BY Staff Writer

Minneapolis — Christopher & Banks Corp. said Thursday it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.

The new facility provides committed revolving funding through July 2017, and replaces the company’s $50 million credit facility that was scheduled to mature on June 30, 2014.

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