Target will be the new anchor of the Prices Corner shopping center off Kirkwood Highway, marking the most significant change in the shopping hub's more than 50-year history.
It will be the centerpiece in a re imagining of one of Delaware's oldest shopping centers, heralding a wave of new shops and restaurants as well as a new look.
At least two other national brands have signed letters of intent, according to Deborah Mills Houston of Robbins Property Management. She said she could not share additional information until the agreements are finalized.
Target will be on the first floor in the space previously occupied by Sears, the shopping center's anchor from 1964 until April 2018.
The store will be approximately 113,000 square feet, some 80,000 square feet smaller than the former Sears.
Work inside the former Sears began in June. The company did not say when construction is expected to begin.
"We're excited to bring an easy, convenient shopping experience to additional guests in the community," Target spokeswoman Liz Hancock said in a statement.
The Prices Corner Target will be Delaware's fourth, joining locations off U.S. 13 in Dover and in the Brandywine Town Center and Christiana Mall.
Target has grown a loyal customer base, even as most of the retail industry at large has struggled. Analysts point to the store's fresh groceries and curbside pickup as ways it draws shoppers who otherwise might have purchased goods online. Target has also invested in online sales.
Last year, the Minneapolis-based company posted its highest comparable sales in 13 years.
Target will replace one of the country's longest-standing brands in Sears. The company that controls Sears and Kmart has closed hundreds of stores nationwide in the past few years. By early 2020, the Sears at the Concord Mall will be Delaware's lone survivor.
The shopping center will use Target to draw new national tenants to fill its more than half-dozen vacancies. A new look will also help the center draw tenants and customers, retail experts told Delaware Online/The News Journal in July.
A leasing agent has advertised a 66,700 square-foot space on the second floor of the former Sears. Plans submitted to New Castle County in November show a fast food restaurant and a bank will take the place of the Sears Auto Center, adjacent to the Target site.
Recent departures include Payless ShoeSource, David's Bridal, The Avenue Plus and Produce Depot and Deli.
Robbins Property Management declined to comment on the existing vacancies or future building projects.