PORTLAND, Texas — A $100 million mixed-use development in Portland with Target as the centerpiece will also be home to several national chains.
As KRIS 6 News first reported, McLeod Cobb Investments announced its intention to build a Target, along Highway 181 just North of Broadway Boulevard in 2022.
That 45-acre project is the location of the only Target that will open this year in Texas, according to a press release from McLeod-Cobb.
That 128,000 square foot store is slated to open in late summer, along with several other businesses.
The project, titled Oliver's Way, will ultimately feature 250,000 square feet of commercial space.
Coming to the development will be Jack in the Box, Brake Check, Raising Cane's, Chipotle, Aspen Dental, Five Guys, James Avery and Wells Fargo. With Target and Raising Cane's under construction, the developer is planning to break ground on a 13,800 square foot freestanding retail building in the coming weeks, according to the company's release.
"The national retailers we're dealing with see the Portland market as a critical piece to their south Texas expansion strategy," said Michael McLeod-Cobb, a partner in the firm. "In fact, we have a lot more deals under negotiation at this time."
Oliver's Way is McLeod Cobb's second investment in Portland. The market is suddenly attracting many of the same regional and national brands that are found in Corpus Christi, a 25-mile drive for local residents and vacationers, the company said in a release.
"Portland is deserving of more growth," says Meredith McLeod-Cobb. "Target has blessed it and now others are coming too. We're looking forward to our next group of announcements later this year."
McLeod-Cobb said it is under contract with a multifamily developer. That developer has intentions to build a complex with 300 units.
