For additional information, contact:
Shawn Yujuico
Director of Marketing
817-810-5391
Syujuico@trademarkproperty.com
Watters Creek at Montgomery Farm in Allen, Texas, Extends Lead in Tenant Race Along North I-75 Corridor
Eight New Leases Signed Including Sephora, Chico’s, and White House | Black Market; P.F. Chang’s China Bistro Now Open;
45 Tenants Signed at the 1.15 Million sf Mixed-Use Development
FORT WORTH, Texas, August 8, 2007 – Watters Creek at Montgomery Farm, a 1.15 million square-foot mixed-use development along a half-mile stretch of US Hwy 75 (Central Expressway) at Bethany Drive in Allen, Texas, has executed eight new leases, bringing the total number of tenants signed to 45 with 300,000 square feet of the 1.15 million square foot development under lease.
New lease executions include Sephora, Vera Bradley, Chico’s, White House | Black Market, Swoozies, Sunglass Hut, Starbucks and Cru. These new additions join a growing list of top national and regional specialty retailers including Market Street gourmet grocer, Borders, Ann Taylor Loft, Jos. A. Bank, Eddie Bauer, Origins, Francesca’s and Village Jewelers.
“We are very excited to be a part of the Watters Creek development in Allen, TX. As promised Trademark has delivered once again. We look forward to continuing our very successful partnership,” said Brad T. Downs, Director of Real Estate for Chico’s FAS, Inc.
July 16, P.F. Chang’s China Bistro became the first of Watters Creek’s tenants to open. The grand opening is scheduled for late spring 2008. The project is a joint venture between Trademark Property Company, Developers Diversified Realty Corporation, and Coventry Real Estate Advisors.
Cru, the Dallas based wine bar and bistro, has also signed with Watters Creek at Montgomery Farm, adding to the growing best in class restaurant/cafe collection including Brio Tuscan Grille, MiCocina, NAAN, the now open P.F. Chang’s China Bistro and Devon Seafood, which will build its first DFW area restaurant at Watters Creek. Additionally, Letters of Intent (LOIs) have been signed by six more restaurants, with the ultimate restaurant count projected at 16 operators, totaling 80,000 sf.
A number of commercial retail developments have been proposed for the highly competitive north central corridor along Central Expressway, but Watters Creek is leading the pack in both construction and lease commitments. A much different development than others proposed in the area, Watters Creek has extensive amenity offerings and is vertically dense with 170,000 sf of boutique offices and 288 multi-family residences located above the retail space. The development will also be LEED certified – a first for any large mixed-use project of its kind in Texas.
Described by Terry Montesi, Trademark’s CEO, as a “retail resort,” Watters Creek is designed to create a resort-like experience. Montesi notes, “Research shows that consumers are drawn to mixed-use developments that are focused on place making and offer much more than a shopping center with some neighboring uses. Our goal is to forge an emotional connection with the community and with our shoppers by creating an extraordinary, multi-faceted environment that enhances the quality of life and is an asset to community. In addition, Watters Creek demonstrates our commitment to sustainable development, which is also important to today’s customers.”
About Trademark Property Company
Founded in 1991, Fort Worth-based Trademark Property Co. has developed or acquired nearly $1 billion worth of retail and mixed-use space. Trademark is currently the most active mixed-use developer in Texas and one of the premier mixed-use developers in the country, with nearly 6 million square feet of retail and mixed-use development/redevelopment projects underway. Trademark also has heavy expertise in structuring public/private partnerships, which has become an integral part of most mixed-use developments. For information, visit http://www.trademarkproperty.com/.