Market at Olive Retail Project Welcomes Target as Newest Anchor Store
University City, MO – August 5, 2024 – The development team behind the Market at Olive retail project, which spans both sides of Olive Boulevard between I-170 and McKnight/Woodson Roads in University City, today announced that Target has purchased a 7.5-acre site within the Costco-anchored development. The team, consisting of Bob Clark (Clayco), Larry Chapman (Seneca Commercial Real Estate), Caroline Saunders (general counsel for the project), and David Hutkin (Hutkin Properties Group, LLC), revealed that Target plans to build an approximately 148,000 square foot store, which will be the largest Target store in the St. Louis area. A two-level parking structure will be constructed to service the store and its customers.
In addition to Costco and Target, the 47-acre retail project includes notable brands such as Chick-fil-A, First Watch, Chipotle, Chase Bank, Panera, AT&T, Raising Cane’s, Jersey Mike’s, 7 Brew, and Sport Clips, with additional retailers and restaurants expected to be announced later this summer.
“Target is a brand that aligns with our values, and we are excited to have University City as the home of the largest Target store in the region,” said Terry Crow, Mayor of University City. “It has been incredible working with Bob Clark, Larry Chapman, Caroline Saunders and David Hutkin and their team in bringing this best-in-class company to our community.”
Bob Clark credited the team for their hard work and tenacity in finalizing the deal and extended his gratitude to University City Mayor Terry Crow, the City Council, and City Manager Gregory Rose for their invaluable support, which were critical to the success of the transaction.
“We are extremely pleased to support University City with this significant development,” said Clark. “We are thankful to Target for choosing to locate their store in the Market at Olive development, which now features two of the most respected retail brands in the industry. We look forward to soon announcing our third and final anchor as we approach the completion of this project, which is so important to University City.”
About Clayco
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $5.8 billion in revenue for 2023, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit www.claycorp.com.
About CRG
CRG is a privately owned North American real estate development and investment firm founded in 1993 with deep expertise in delivering and owning industrial, office, multifamily, student housing and mix-use assets. The firm serves clients and investors from eight regional offices benefiting from local expertise in Chicago, St. Louis, Seattle, SoCal, Phoenix, Philadelphia and Atlanta. CRG has developed more than 10,000 acres of land and delivered over 210 million square feet of assets exceeding $13 billion in value. For more information, visit CRG’s website at www.realcrg.com.