Kimco’s Grand Parkway Marketplace Lands Target Store

By Adelina Osan, Associate Editor

Target Rendering

Houston—Kimco Realty Corp. recently announced that Target Corp. acquired 9.2 acres of land to build a new store in Kimco’s 450,000-square-foot Grand Parkway Marketplace located in Spring, Texas. Target will be an anchor retailer for this project.

Located at the interchange of Grand Parkway and Kuykendahl Road, the property opened in early February was 75 percent pre-leased at the time of the announcement. Grand Parkway Marketplace is situated in a rapidly growing area near the Exxon Corporate Campus that features direct exposure to the new segment of the Grand Parkway. The Woodlands area boasts excellent demographics with a population of 168,000 people and an average household income exceeding $100,000 within a 5-mile radius.

“We are excited to have Target anchor our Grand Parkway Marketplace development project. Based upon the strong retailer demand, we will create a unique open-air shopping center that will feature an exceptional first-class line-up of national tenants and local favorites in one of our core major metro markets,” said Conor Flynn, President & CEO of Kimco, in prepared remarks. “This project is just part of our overall 2020 vision focused on creating value through selective development and redevelopment opportunities.”

Construction of the 450,000 square-foot open air center is scheduled to start in the summer of 2016 and to open spring of 2017.

Rendering via Chron.com