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Tuesday, January 10, 2012

Former Target store in west Fort Worth being redeveloped

Conti Warehouses, a Fort Worth commercial real estate investor, has bought the vacant former Target at 2600 West Cherry Lane in west Fort Worth and will redevelop the building for multitenant use.

Conti completed a similar project with the former Levitz Furniture store, a 157,450-square-foot building, on Camp Bowie Boulevard last year.

Target moved from the 11.4-acre location in 2008 to a new, larger store in the Westover Village shopping center at the southeast corner of Green Oaks Road and Alta Mere Drive. The property was sold by Target Corp.

Ryan Wood, a vice president at Conti who represented Conti in negotiations, said windows and other building materials will be added to the facade to tone down the appearance that the building was a Target store.

Wood said he has a couple of proposals out to prospective tenants, including one tenant that would be new to the area and use about 50,000 square feet. He declined to offer additional details.

The former Levitz location is now 70 percent leased, Wood said, adding that the developer expects to have the same success with the former Target location.

The property is deed restricted to prohibit a discount retailer that would take up 40,000 square feet or more, he said.


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