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Target to test Express concept this summer
A 20,000-sq.-ft. store called TargetExpress is set to become the newest addition to the retailer’s portfolio of formats when it opens this July in downtown Minneapolis.
In an interview with The New York Times, Target EVP for property development John Griffith said Target signed a lease last week for a space on the ground floor of an apartment building called the Marshall which is under construction near the University of Minnesota campus. The store is scheduled to open July 27.
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Inland acquires Orlando’s Goldenrod Marketplace
Oakbrook Terrace, Ill. — Inland Real Estate Corp. has acquired the 227,540-sq.-ft. Goldenrod Marketplace in Orlando, Fla., for $20 million. The initial payment will be approximately $16 million, with the balance to be funded based on future tenant occupancy.
Mid-America Real Estate Corporation’s Investment Sales team brokered the sale in cooperation with The Shopping Center Group brokered the sale on behalf of a private development group.