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DDR AND TARGET COMMENCE REDEVELOPMENTS

Posted on by in Retail, Texas

SAN ANTONIO —Developers Diversified Realty Corp. (DDR) has started redevelopments on two non-income producing shopping centers: Terrell Plaza in San Antonio and Tamarac Square in Denver. DDR is razing the centers to allow for sale of the parcels to Target for the construction of two new stores. Additionally, DDR intends to redevelop adjacent retail space at both centers to accommodate demand from other high-quality retailers. The combined gross investment for the two projects is $40 million. Upon completion, Terrell Plaza will feature a 138,000-square-foot target with an additional 90,000 square feet of value-oriented junior anchor retail space. Tamarac Square will have a 135,000-square-foot Target and the 33,000-square-foot adjacent convenience center will be redeveloped.

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