Target Buys Land In New Iredell County Retail Development for $755,000
By Cooper Metts – Staff Writer, Charlotte Business Journal
Minneapolis-based retail giant Target Corp. (NYSE: TGT) recently acquired land within a new Statesville development.
The company bought an 11.28-acre parcel in the Gateway at Broad development for $755,000 on May 26, Iredell County real estate records show. Interstate Development Co. sold the property.
New South Properties is developing the site on behalf of property owner Interstate Development Co., a local Statesville family, according to the firm’s founding partner, Will Whitley.
The Gateway at Broad development sits on a 40.25-acre parcel at 1505 E. Broad St. The site is adjacent to Belk and located at the intersection of Interstate 77 and East Broad Street.
A site plan for the development shows the anchor space will span 128,000 square feet. Whitley would not confirm if Target will occupy that space or be part of the development. He did say a national retailer is expected to open there in spring 2028.
Co-tenants at the development would be restaurants, a financial institution and other shops, Whitley said. The idea is to deliver those spaces before the national retailer opens. The project would have 158,650 square feet of retail space in addition to four outparcels.
“We are continuously exploring possible locations for future stores, but we have no new stores news to share,” Target told Charlotte Business Journal when asked for comment on this story.
This would be Target’s second store in Iredell County and its first in Statesville, according to its website. The retailer has a location in Mooresville at 594 River Highway.
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