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Target and a Second National Retailer to Come to Alameda Landing

Palmtree Acquisition Corporation (PAC), the developer for Alameda Landing, the former site of the Navy’s Fleet Industrial Supply Center (FISC) is said to be working on a second national retailer to co-anchor Alameda Landing with Target.

A December 2nd staff report to Alameda City Council notes that PAC reportedly signed a letter of intent (LOI) with Target for the sale of roughly ten acres of land at Alameda Landing, on which Target would build a prototypical 139,000 square foot store. Further, PAC is in negotiations with a second, as yet un-identified, national tenant to co-anchor the retail portion of the project. No timelines were provided as to when that second tenant might be announced.

Clif Bar had been planning to build its corporate headquarters at the site, but negotiations fell apart in the fall of 2008. Since then, PAC shifted focus from office tenants to retail tenants.

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