Target Corporation Redeveloped a California Store

Target Corporation redeveloped a store site in Sunnyvale, California. A surrounding mall site was redeveloped simultaneously into a six block mixed-use center.Faegre Baker Daniels represented Target in a transaction involving a land swap between Target and the mall developer—and formation of commercial condominiums in connection with the redevelopment of Target's existing store. The redeveloped property includes a two-story building with third-party retail space, an enclosed parking garage on the first level, and a 173,000 square-foot Target store on the second level.The deal also involved negotiating development documents and new reciprocal easement documents with the mall developer, Sunnyvale Redevelopment Agency, city of Sunnyvale and Macy's, the other anchor at the mall site.

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