Friday, March 9, 2012

BIG RETAIL CENTER PLANNED FOR SOUTH SAN JOSE TO INCLUDE A TARGET.

Target is expected to be the primary anchor for a new shopping center that will rise near the Kaiser hospital in South San Jose.

The new retail complex, dubbed Village Oaks, will total 320,000 square feet. Besides Target, a major supermarket is expected to be one of the anchors. A health club, restaurants, banking and other retail are expected to make up much of the remainder of the tenants.

After stalling during the recession, the center's launch is being bolstered by a rebounding local economy. Principal developer Hunter Storm Properties has teamed up with realty finance and investment firm Pacific Coast Capital Partners.

The developers and Terranomics wouldn't identify the anchors that have agreed to move to the center, which will occupy a portion of the former IBM disk drive factory site.
However, marketing materials for the complex and a residential development that will be constructed nearby both identify Target as its primary anchor.

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