San Luis Obispo on target to get a Target
August 11, 2010
San Luis Obispo is about a year away from getting a Target out on Los Osos Valley Road, but the price to develop will run about $32 million. [Tribune]
The 140,000-square-foot-store will sit on 10 acres of land purchased by Target from Madonna Enterprises for an undisclosed price. The popular national chain store will be directly across the street from Costco and Home Depot.
The project, to be called Prefumo Creek Commons, is expected to also include a 36,500-square-foot retail store and three smaller stores in the 3,000 to 7,400 square-foot range.
Clint Pearce, spokesperson for the Madonna family, declined to identify possible tenants, but was confident that all the spaces would be filled quickly.
Project grading started last April. City officials expect to bring in $500,000 to $600,000 in annual sales tax from the new store.