Brooklyn Center Considers Buying Target Store Property
The city of Brooklyn Center has begun negotiations to possibly purchase the site of the former Target store that closed last winter.
The 9-acre site is listed for $4.2 million. However, Target accepted an offer to sell the property to the city at a price tag of $3.6 million. The news was made public at a July 22 Brooklyn Center Economic Development Authority (EDA) meeting.
According to an option agreement approved by the Brooklyn Center EDA, the city may now conduct any testing and due diligence it deems appropriate at the site. The city believes the Target site could become part of a larger redevelopment project. The Brooklyn Center EDA also owns 35 acres near the vacant Target, land known as the “Opportunity Site.”
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