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Target, Kohl's to Open Stores at Upland Center

April 09, 2002|Bob Howard

National retailers Target Corp. and Kohl's Corp. and regional chain Chick's Sporting Goods have signed letters of intent to open stores at the $200-million Colonies Crossroads, a 1-million-square-foot shopping center on 110 acres in Upland at Campus Avenue and the Foothill Freeway extension that is scheduled for completion in October.

The new stores are expected to open soon after the center is completed in summer 2003, said Bob Lewis, partner of Pacific Development Group of Newport Beach, which expects to begin construction of the shopping center in October in a joint venture with Colonies Crossroads Inc. of Rancho Cucamonga.

Terms of the individual leases were not disclosed, but Lewis said the aggregate value of the three deals was about $35 million.

The shopping center will be developed as part of The Colonies at San Antonio, a 434-acre master-planned community including 1,100 homes, 305 of which are under construction by KB Homes and Standard Pacific.

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