Target has purchased the land for its new store at New Hill Place, the Holly Springs mall now under construction near the N.C. 55 Bypass.
The Minneapolis-based retailer paid $2.4 million for the property, according to Wake County property records.
The seller was Kite Realty Group, which is building the 550,000-square-foot retail center that is to be anchored by Target. The center will also include 10 large stores, 29 smaller stores, a movie theater and a bowling alley.
Holly Springs officials recently approved a road plan for the development that includes 15 traffic signals and thousands of feet of new lanes around a junction on the N.C. 55 bypass.
Kite Realty is funding the construction of four intersections along N.C. 55 at its junctions with Green Oaks Parkway and Holly Springs Road. Kite also plans to install similar designs at the bypass intersections of two new roads to be built near the shopping center.
There will also be a new four-lane road that will begin at N.C. 55, skirt the back of the mall and end at Old Holly Springs-Apex Road.
Target bought portions of five different parcels that all total include 46 acres.