Target has Southern Dallas in its sights.
A planned 111,000-square-foot store in the Wynnewood Village Shopping Center in Oak Cliff would be the retailer’s second location south of Interstate 30 in Dallas.
Brixmor Property Group, a publicly traded REIT, bought the 1940s-era shopping center about 15 years ago. In 2018, citing research indicating $781 million in unmet consumer demand in North Oak Cliff, it announced plans to invest about $30 million to renovate Wynnewood Village Shopping Center. Since then, L.A. Fitness and Five Below have taken up residence.
Construction on the Target store could begin this fall and be completed as soon as 2025.
“Consumer research showed that the community has affectionate, generational memories of Wynnewood Village and felt strongly that it ‘belongs’ to the local community,” Brixmor’s Brett Milke stated in a release. “We wanted to honor the community’s ‘ownership’ by revitalizing and restoring the center as a valued community gathering place.”
Brixmor is preserving the shopping center’s monumental sign and restoring some of its mid-century modern facades, according to the media release.
The 66-acre shopping center, which is anchored by Kroger and El Rancho supermarket, draws 7.5 million visits annually
Target has eight stores in Dallas proper but only one in Southern Dallas. The Target at 39739 Lyndon B Johnson Freeway sits right at the city line with Desoto.
The retail picture in Texas is robust. The Dallas-Fort Worth area saw retail occupancy above 94 percent in 2022 for the first time since Weitzman started tracking inventory in 1990. Vacancies caused by the onset of the pandemic have been erased, and the market absorbed 1.7 million square feet in 2022, Weitzman reported.
“The best-located neighborhood and grocery-anchored centers generated the strongest demand thanks to their focus on daily needs that attracts strong traffic,” the report stated.
Read more
