Southeast Denver’s Tamarac Square will be razed and replaced by a Target store and other retailers, Developers Diversified Realty said Wednesday.
Developers Diversified, of Beachwood, Ohio, said it will sell land to Target and will redevelop adjacent retail space to accommodate “demand for additional high-quality retailers.”
The company owns and manages about 520 retail properties across the country.
Paul Freddo, Developers Diversified’s senior executive vice president of leasing and development, said Tamarac Square is 90 percent vacant.
He said the new Target will be within 7 miles of more than 720,000 people.
Upon completion of the 135,000-square-foot Target store and the renovation of the adjacent 33,000-square-foot convenience center, the project will be 98 percent leased, Freddo said.
Marty Richmond, Developers Diversified’s vice president of corporate communications, said the redeveloped project will feature a new Chick-fil-A restaurant.
Richmond said Ace Hardware will be relocated to the convenience center and join existing tenants and “many new prospective tenants in that location.”
Richmond said Benihana of Tokyo, JPMorgan Chase Bank and Bank of the West will remain in their current locations.
The combined gross investment for the Denver project as well as a project in San Antonio that also will include a Target store is $40 million, according to the company.
Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com
