Brian Murphy of the Staubach Co.'s Dallas office tells GlobeSt.com that a retailer has the 94,553-sf Vance Jackson store at NW Loop 410 under a contract that could close by spring. Target also has 99,403-sf store at 5776 Stemmons Rd. for sale.
The Target stores are scheduled to close in May when the company opens a Super Target at the Crossroads Mall at Loop 410 and Interstate 10. Murphy says Target is closing stores because it's successful unlike Kmart, which is closing five San Antonio stores as part of its cost-cutting process.
In far northwest Austin, the 101,909-sf Target at 13785 Research Blvd. has attracted attention from two bidders, Murphy says. Target plans to close the store in October when a Super Target near Lakeline Mall at RM 620 is ready.
Murphy says the available building offers a retailer a quick way to get in the tight retail market around Research Boulevard and RM 620. "And at a reasonable price," he adds. "You can't build new construction for what you can buy these buildings.
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