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Retail giant Target has signed a lease for space in what used to be the Sears store.
Owned by Brookfield Property Partners and managed by Brookfield Properties, the mall opened at a time when the so-called brick-and-mortar “retail apocalypse” had yet to feel the COVID brunt. According to research firm Reis, shopping center vacancies at the end of 2019 were their highest in 20 years, at 9.7%.
Taubman Centers, the real estate investment trust that owns the 853,000-square-foot facility at 100 Greyrock Place, announced in October that it was putting the mall up for sale.
Meanwhile, most eyes are trained on The SoNo Collection in Norwalk, where several stores are scheduled to open Oct. 11.