Medical offices eyed for old Target building. - Waco Tribune-Herald (Waco, TX)

Byline: Mike Copeland

May 11--A local group is interested in buying the former Target building at State Highway 6 and Sanger Avenue from Friends for Life and leasing the space out for 'medical uses.'

Waco businessman John Cawthron confirmed Tuesday he is part of the group that has signed a contract to buy the old Target. The deal is set to close in 30 days.

'If we go through with it, it primarily will be medical offices,' Cawthron said, adding: 'We do have prospects.'

Friends for Life, a local charity, now owns the nearly 100,000-square-foot Target building.

Two years ago it announced it would place there an 'intergenerational care center' catering to the health needs of the old as well as the after-school and day-care needs of the young.

Inez Russell, Friends for Life executive director, said such a center still is in the works.

'Selling the Target property will allow us to move forward with our plans,' she said. Friends for Life will provide more details next week, she said.

In 2003, when Friends for Life announced plans for an interdenominational center, Russell said: 'It is a big undertaking, bigger than anything our charity could ever accomplish on its own. But God can do anything. And he is bringing so many people together to help us.'

At the time, she said, the Paul and Jane Meyer family had pledged $1 million to the project.

Cawthron said his group's purchase of the Target building is not guaranteed. Restrictions on the use of the building and adjacent property must be dealt with before a deal can be struck, he said.

The restrictions pre-date Friends for Life's ownership of the building, Cawthron said, adding: 'We just learned about them yesterday (Monday), and we hope Friends for Life can get them removed.'

Cawthron, a local accountant, is part of the investment group planning to develop Legends Crossing near Interstate 35 and West Loop 340, across the loop from Central Texas Marketplace.

They envision retail shops, restaurants, a hotel and possibly a company headquarters.

Cawthron said the group wanting to buy the Target building is not the same as that pursuing Legends Crossing.

The former Target is near Providence Health Center, which could make it attractive as medical office space.

The former Winn-Dixie building at State Highway 6 and Sanger Avenue, also near Providence, was bought by Waco Cardiology Associates, which remodeled it before moving into the 46,540-square-foot structure. It leases space to Central Texas Cardiovascular and to Waco Lung Associates.

Next door, the 33,000-square-foot Meadowlake Center also is filling up with medical-related tenants, said Ronnie Crawford, chief financial officer for Waco Cardiology Associates, which owns the center.

A medical-related tenant is now poised to sign a lease on the vacant Dollar General space there.

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