Trademark Property’s mixed-use development 86% leased; remains popular pick for top tenants
Nellie Simpson (817) 810-5307
FORT WORTH, Texas (October 19, 2010) –Top retailers remain selective in their current expansion plans, but Watters Creek at Montgomery Farm continues to sign sought after tenants.
Trademark Property Co. today announced Anthropologie has signed a lease for 9,000 square feet at Watters Creek, its eleventh store in Texas. Known for their unique women’s clothing, accessories and home décor, the store will have a prime corner location in the development. The popular retailer is scheduled to open October 2011.
“The caliber of our tenant roster, including Anthropologie, is affirmation that Watters Creek is a unique and desirable environment for tenants, even in a tough economy,” said Trademark Chairman-CEO Terry Montesi. “We couldn’t be more pleased with our lineup of top-tier retailers and restaurants.”
With more than 135 locations across the U.S., Canada and the U.K., Anthropologie offers a one- of-a-kind and compelling shopping experience designed to make women feel beautiful, hopeful and connected. The first store opened in 1992 in Wayne, Pennsylvania.
“The performance of our existing fleet in the Dallas marketplace reaffirms the relevance and strength of the Anthropologie brand to the local customer,” said Wade McDevitt of The McDevitt Company, global tenant representative for Anthropologie. “Therefore, the decision to expand our presence north to Watters Creek was an easy one.”
Located just north of Dallas in Allen, Texas, on I-75, Watters Creek retail is now 86% leased with 53 merchants open, another five signed leases totaling 18,868 square feet, and an additional 40,000 square feet of LOIs currently in negotiation. The residential portion of the development, The Lofts at Watters Creek, has reached 90% occupancy, while leading the sub market in multi-family rents. Office space is 70% leased.
“Despite a hyper competitive and difficult industry environment, our leasing efforts have been successful in good part due to the scale, feel and design of our project being what the female shopper wants today,” said Montesi. In July 2008, Watters Creek was featured in The New York Times for its efforts to involve local female customers in the design process.
Trademark Property Company is an investor, operator and developer of malls, retail and mixed- use properties. Its 97-person team currently operates a 5.3-million-square-foot retail and mixed-use portfolio from Detroit to Santa Fe, New Mexico. Trademark has invested in, or developed, over 10 million square feet and $1.2 billion worth of retail and mixed-use assets since its inception in 1992.
For more information, visit www.trademarkproperty.com.