Target Stores signed a 20-year ground lease at 5400 Interstate 35 in Austin, to replace the 134,457 square feet of space that formerly housed Montgomery Ward's. Target will demolish the existing Montgomery Ward's building to make room for its new 122,226-square-foot store. Located in the Capital Plaza shopping center at the northeast corner of I-35 and Cameron Road on the I-35 corridor, the building's center neighbors include CiCi's Pizza, Radio Shack, McDonalds, Taco Bell, Toy-R-Us, Walgreens, and many other smaller tenants. Capital Plaza, built in 1960, houses 477,102 square feet of space. It is 92% leased with 36,738 square feet of vacant space. Scott Freid of Cencor/Weitzman Group was the in-house representative for the landlord.