Target finalizes lease, eyes summer 2018 for 16th Street Mall location

DENVER — Target plans to open a downtown Denver store by summer 2018, the retailer announced Wednesday.

The 28,000-square-foot small-format store at 16th and California streets will have a robust grocery assortment; apparel; health, personal care and beauty products; entertainment and electronics products; and a CVS pharmacy.

The Minneapolis-based retailer finalized a lease on the 16th Street Mall after the Denver City Council approved a $4 million incentive package in February.

The lease was signed with Gart Properties, which owns the building with Rifkin Family Investment Company. The store will be on the second and third floors of the building that currently has Chipotle, Red Robin, Great Clips and Einstein Bros. Bagels stores.

Target plans to operate more than 130 small-format stores by the end of 2019.

“Target is thrilled to bring our first small-format store to Colorado and be part of a thriving community in downtown Denver,” said Mark Schindele, senior vice president of properties with Target.

“The modern design of our downtown Denver store will showcase unique features for people who live, work and play in this neighborhood, including a third-level glass atrium that offers views up and down the 16th Street Mall.”

The building has been more than half-empty since a food court on the second floor was closed in 2006.

“This represents a huge win for downtown Denver,” said Mark Sidell, president of Gart Properties. “Adding Target to the retail mix delivers a long sought-after and key component necessary to support a viable and thriving downtown.”