New York City -- Target has partnered with two local developers to purchase a 7.9-acre United States Postal Service site in the Throgs Neck section of Bronx, N.Y., for $35.2 million, where they plan to build a 300,000-sq.-ft. mall, according to New York Read Estate News.
The acquisition of the site went into contract in November and closed Feb. 11, the report said. The owner was listed as Lafayette Nominee Owner LLC, with an address at Target's corporate headquarters in Minneapolis. Target joined with retail developers PA Associates, based in Midtown and Simone Development, based in Westchester, to buy the site, according to the report. Target would own its own portion, and the rest would be leased to other tenants.