Dallas-based Cencor, which owns the shopping center at 5400 Interstate 35, will tear down the existing building that housed a Montgomery Ward store and deliver a pad site to Target, says Scott Freid, partner in charge of the Austin office of Cencor and its affiliate, the brokerage firm the Weitzman Group.

Target plans to start work in late October or early November and open in late summer 2003. The 126,300-sf store will be similar in size to its locations in Round Rock and Lake Hills in the south submarket, Freid tells GlobeSt.com.

Capital Plaza, which opened in November 1960, has 422,008 sf. Tenants include national retailers Conn's Appliances, Office Max, JoAnn Fabrics, Walgreens, Toys R Us, Fashion Bug and local restaurant, Amaya's Taco Village. Cencor has owned the center since 1996. Montgomery Ward vacated the building in April 2001 after it declared bankruptcy and went out of business.