Target isn’t magnificent enough for the Magnificent Mile.
“I’m like, what are you thinking, Brookfield?” Pappas said during the interview. She said Target shouldn’t be mixed with luxury brands Gucci and Louis Vitton, which both have shops on the high street location. “I’m trying to figure out what is magnificent on the Magnificent Mile about Target,” Pappas said.
But wait, there’s more.
Pappas then trained her sights on Brookfield, which recorded about $2 billion in losses in 2020, with its retail and office holdings getting slammed by the pandemic. She called the company “so desperate they would take anybody who would give them a dollar to get into the building.”
Brookfield responded that it wasn’t ready to announce a new tenant, and Target said it was evaluating locations, the Tribune reported.
For all its magnificence, Macy’s said in early January that it would shutter its flagship store at Water Tower Place, a decision that had been months in the making. At the time, the retailer said it would hold clearance sales for up to 12 weeks before closing permanently. The same week, the Gap said it would permanently close its 3,700-square-foot store at Water Tower Place.
Target, meanwhile, is coming off a banner year and opening stores by the dozens across the country.