This one will be on the second floor of the Beverly Connection, and it's slated to open in about a year. As reported by the LAT, it will be dubbed CityTarget, a smaller version of the standard Target (groceries, household items, clothes). A CityTarget will open in Westwood this summer and downtown in the fall. From the Times:
[Cary Strouse, Target's senior vice president of stores for the Western region,] said Target was also looking to open additional stores in other big cities around the country. Three are already planned in Chicago, Portland and Seattle. "You won't see a 36-pack of toilet paper at a CityTarget, for example, whereas you might see that in a normal Target," Strouse said. The smaller CityTarget stores will range from 85,000 to 100,000 square feet; in comparison, the average Target is 130,000 square feet and the average Super Target is 175,000 square feet.
All the major big-box retailers are looking for ways of getting into city locations. Walmart is focusing on groceries (Chinatown will be one of the locations,) while the CityTarget concept is really just a scaled-down version of a conventional suburban store. Space is more limited and urban shoppers are often looking for different kinds of merchandise. Urban areas are becoming desirable because they're generally under-served. Here's the press release.