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Strode Property Company Lands Target
To Anchor Little Rock Development
Commitment from national retailer demonstrates strength of local economy
LITTLE ROCK, Ark. (Sept. 14, 2009) – Strode Property Company of Dallas, Texas,
today announced Target (NYSE:TGT) will build a new store at Strode’s Park
Avenue development in midtown Little Rock. The Target will open in October
2010 and preliminary site work is underway.
"This is a tremendous boost for the Park Avenue development and for the city of
Little Rock," said Chuck Keller of Strode Property. "Target is the number one
anchor tenant preferred by other retailers. Target’s plan to locate in Park Avenue
testifies to the renewed strength in the Little Rock core retail market and
advances our efforts in the continued redevelopment of the University Avenue
corridor."
Details of the Target deal were not disclosed and no other tenants have been
confirmed at this point. Park Avenue is being developed as a mixed-use open-air
complex on University Avenue, near the corner of Markham Street.
"I'm elated to see the construction of the Target development, particularly
considering the nature of the national economy, " said Little Rock Mayor Mark
Stodola. "It is proof positive that national retailers are discovering the overall
strength of the Little Rock market, and I am excited that Target has chosen the
Park Avenue site as one of only 12 stores scheduled to open in 2010. It will be a
great addition to Midtown which continues to be the center hub of our city. "
Strode also developed Midtowne Little Rock, an upscale shopping center that
has attracted a host of specialty retailers and restaurants. Midtowne includes the
state's first Pottery Barn, Williams-Sonoma and The Container Store. The
development, which opened in October 2006, also includes Jos A. Bank, Cantina
Laredo and other retailers and restaurants.
"We have taken significant strides over the past three years to enhance the Little
Rock retail environment," Keller said. "It’s a great pleasure to land another
national retailer like Target to attract more shoppers to central Little Rock."
About Strode Property Company
Strode Property Company was founded in 1979 by James E. Strode, and
specializes in developing high-quality urban retail shopping centers and credit
build-to-suit opportunities. Over 30 successful years, the company has
developed and managed over five million square feet of retail shopping and
build-to-suit properties.
For more information regarding the development, visit
http://www.parkavenuelr.com
For media inquiries specific to the new Target, please contact the Target Media
Hotline at 612.696.3400.