FORT WORTH, Texas, Feb. 12, 2007 – Trademark Property Co. and Hillwood announced new tenants, construction starts and a restaurant opening at Alliance Town Center, a 300-acre retail and mixed-use development in the heart of the nationally acclaimed Alliance/I-35 corridor.
Trademark Property Co., which is developing Alliance Town Center in joint venture with Hillwood, has signed leases with Belk Department Store and Hobby Lobby. Belk, a national department store chain will occupy 96,000 square feet offering top national retail apparel and home furnishing brands. Hobby Lobby has taken 55,000 square feet that will house a Hobby Lobby Creative Center. In addition to the signed leases, Trademark announced the opening of Cheddar’s Casual Café, and the start of construction on the Wells Fargo bank. The company also reports that Bank of Texas has closed on the purchase of land at Alliance Town Center and anticipates the start of construction soon. Trademark and its leasing agent, UCR Dallas, have committee approved Letters of Intent (LOIs) with 10 other tenants totaling 160,000 square feet.
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, including 62 from the Fortune 500, Global 500 and Forbes List of Top Private Companies. These firms have invested more than $5 billion to build 25 million square feet and create 24,000 fulltime jobs. The primary trade area of Alliance Town Center includes the rapidly growing cities of Keller, Haslet, Watauga and Fort Worth.
Trademark believes that Alliance Town Center will become the downtown for AllianceTexas, and the entire I-35 N corridor, providing shopping and leisure activities for both locals and visitors. “The area will be a major tourist corridor with the addition of the Sam Moon Complex at Alliance Town Center to the Texas Motor Speedway and Cabelas, the 230,000 square foot retail outfitter, both located North on I-35 ” says Trademark Chief Executive Officer Terry Montesi.
With more than a ½ 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 of I-35W.
The development will progress in three phases through 2007, 2008 and into the spring of 2009. Combining power and community center uses with a pedestrian focused town center and more, the 300 acre, $800 million Alliance Town Center will be a massive destination mixed-use environment unmatched in Northern Tarrant County. The development will feature over 1.6 million square feet of retail-leisure space including Sam Moon, a large residential neighborhood including both urban for sale and rental housing , an HCA hospital, one or two hotels, and office space both Main Street and freestanding, and medical office space.
Montesi adds, “The retail program has incredible momentum with many of the top retailers in their category lining up, from department stores like Belk and JC Penney, to electronics, books and sporting goods stores, cinemas, specialty retailers and restaurants. This project will be a major regional retail and mixed-use destination.”
About Belk, Inc.
Charlotte, N.C.-based Belk, Inc. (www.belk.com) operates 277 fashion department stores in 16 states. The company was founded in 1888 by William Henry Belk in Monroe, N.C. and continues to operate under the third generation of Belk family leadership. Belk employs approximately 23,000 associates in its stores, corporate and division offices and distribution center.
In addition to name-brand apparel, cosmetics and home furnishings, Belk offers exclusive private brand merchandise, including Madison Studio ladies sportswear, handbags and shoes; Kim Rogers jewelry; Lyle & Scott men’s sportswear; Red Camel apparel for young men; Nursery Rhyme and J. Khaki apparel for children; and Biltmore Estate For Your Home and Home Accents home merchandise.
About Hobby Lobby
Hobby Lobby was founded in 1972 in Oklahoma City, OK with 300 feet of retail space and has grown into America’s most complete arts and crafts retail operation. There are currently 380 stores in 30 states. Stores are open in Alabama, Arkansas, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin and Wyoming. Each creative center stocks more than 60,000 items.
Hillwood, a Perot company, is ranked as one of the Top 10 commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company is recognized for its high-profile projects 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/.– ### –