Caldor, an initial anchor, went bust in 1999. Ames DepartmentStores filled the vacancy until it succumbed to bankruptcy twoyears later. The 12-lane Roosevelt Blvd. is dotted with shoppingcenters and big box retailers, which posed significant competitionto the ailing center, which, following Ames' exit in 2001, lostanother 12 tenants.

New York-based Lavipour & Co., which specializes inrepositioning under-performing shopping centers along themid-Atlantic, acquired the property. Its potential lay in its"large tract of land at a strategic intersection surrounded by adense population in an area where good development sites arescarce," says David Lavipour, president.

Lavipour hired Mt. Laurel, NJ-based Metro Commercial Real Estateto market the property. Stephen Niggeman and Thomas Londres, MetroSVPs and principals, negotiated the Target lease, which is thegiant chain's second unit in Philadelphia County.