FORT WORTH, Texas – April 26, 2007 – Trademark Property Co. and Hillwood announced today that national electronics retailer, Best Buy, will become one of the anchors for the 1.15 million square foot Alliance Town Center, a 300-acre retail and mixed use development in the heart of the nationally acclaimed Alliance/I-35 corridor.
Best Buy will occupy 30,000 square feet and joins Belk Department Store, JC Penney and Hobby Lobby as anchors at Alliance Town Center.
A joint development of Trademark and Hillwood, Alliance Town Center is located in North Fort Worth at Interstate 35W and Heritage Trace Parkway. The $800 million Alliance Town Center development is located in one of the fastest growing areas in the nation. AllianceTexas now houses more than 140 companies that have invested more than $6 billion to build 26 million square feet and create 25,000 fulltime jobs. The primary trade area of Alliance Town Center includes the rapidly growing cities of Keller, Haslet, Watauga and North Fort Worth.
With more than a half mile of frontage on I-35W, Alliance Town Center is highly visible to the 71,000 plus cars traveling the north central corridor each day. Alliance Town Center sits atop the highest elevation within 10 miles.
Trademark and Hillwood report that active negotiations are ongoing with additional anchors that will occupy an additional 240,000 square feet, as well as many restaurants and small retailers. Future phases will include a grocery-anchored center and a town center component with specialty retail integrated with office, hotel and residential space.
Terry Montesi, President and CEO of Trademark, recognizes the impact that Alliance Town Center and the entire AllianceTexas corridor has on the trade area, “We are building a large mixed-use urban village at Alliance Town Center, a massive destination that will serve as the downtown of the I-35/AllianceTexas Corridor. The project has tremendous momentum and we expect 1 million square feet of retail committed to Alliance Town Center by the end of next year.”
Alliance Town Center will provide a multi-use setting with more than 2 million square feet of retail, office, residential, and entertainment space, along with the HCA medical campus. The plan is consistent with the city of Fort Worth’s increased focus on multiple uses within new developments.
The 17,000-acre AllianceTexas development consists of the Alliance Global Logistics Hub, the corporate campuses and golf courses of Circle T Ranch and the high-tech mixes-use community of Heritage. AllianceTexas now houses more than 6,200 single-family homes and 140 companies that have built 26 million square feet and created 25,000 jobs. The development lies within four cities: Fort Worth, Roanoke, Haslet and Westlake, and two counties: Tarrant and Denton.
Hillwood, A Perot Company, is ranked as one of the top commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company is recognized for its high-profile and public-private ventures that bring tremendous value to its customers and partners. In addition to AllianceTexas, Hillwood (www.hillwood.com) is best known for its development of the $420-million American Airlines Center and Victory district near downtown Dallas and the 2,000-acre AllianceCalifornia development in San Bernardino.
Founded in 1991, Fort Worth-based Trademark Property Co. has developed or acquired nearly $1 Billion worth of retail and mixed-use space. Trademark has become one of the premier outdoor retail and mixed-use developers in the country. Other notable Texas projects include Market Street – The Woodlands, and Watters Creek, a 1 million s.f. mixed-use development under construction in Allen, TX. For information, visit http://www.trademarkproperty.com/.
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