Target Corp. has purchased 10.3 acres of land for a store that will anchor the new The Shoppes at Westlake Village when it opens next year.
The store will take up 138,500 square feet of the planned 243,000 square foot center, which is being developed by Westlake Village firm Selleck Development Group.
“Target had expressed interest in the site almost from the day that it was acquired by Selleck Development Group,” Mike Tingus, president of Lee & Associates-L.A. North/Ventura, who represented Selleck in the deal, said in a statement.
The location of the new store, along the Ventura (101) Freeway near Lindero Canyon Road, will fill a market void for the Minneapolis retailer, which lacks a location between Woodland Hills and Thousand Oaks.
“Target has had an interest in adding a store in the Conejo Valley for some time,” said Gregory Whitney, senior vice president at CBRE Inc., who represented the company in the deal.
Financial terms of the transaction were not disclosed.