South Burlington, VT KeyPoint Partners, LLC (KPP) has negotiated a lease with Target Corp. to open a store at University Mall (UMall), according to Robert Lemons, managing partner of the firm.

KPP vice president of leasing Don Mace negotiated the lease. KPP manages and leases UMall on behalf of the owner.

The new Target store – the first in the state of Vermont – will occupy a 60,000 s/f anchor space currently occupied by The Bon-Ton. Construction of the new Target will begin in February, with an October planned opening.

“Vermont shoppers have been waiting for Target to come to their state, and Target has been very patient in securing its first Vermont site. Working with all partners – Target, the City of Burlington, and Hannaford – was a truly pleasurable experience. Personally, it’s exciting to be able to transform shopping destinations of this level. The deal was a major milestone for Target – even CNN picked up the news,” said Mace.

The much-anticipated Target will become the centerpiece of an ambitious plan to re-merchandise UMall. Other planned leasing enhancements will be announced soon. KPP also recently negotiated a lease with L Brands to relocate and expand the Victoria’s Secret and Bath & Body Works stores at UMall.