The $1.6 billion, 180-acre project on the Dallas North Tollway will now contain almost as much retail and restaurant space as a shopping mall, developer Stan Thomas said Thursday.
“We are up to 950,000 square feet of retail that’s part of the development,” Thomas told members of the International Council of Shopping Centers meeting in downtown Dallas.
Wade Park was originally planned to have about 600,000 square feet of retail space anchored by a Whole Foods Market grocery store.
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As the International Council of Shopping Centers’ Texas conference gets underway in Dallas on Wednesday, JLL executives have highlighted some of the biggest trends in retail real estate throughout the region.
“Underneath all of these retail real estate trends is the job growth we have in Dallas-Fort Worth and the housing starts that follow job growth, and the retail that follows those housing starts,” Clay Smith, JLL’s managing director, told theDallas Business Journal.
That growth is spread broadly throughout the region, he said.
North Texas continues to see an influx of grocery stores to serve the growing number of residents in the region, with suburban and urban locations being snapped up by hungry grocers. HEB has recently acquired more than 20 suburban development sites, but has yet to announce plans.
Other grocers, such as Kroger and Tom Thumb also have opened new stores in the suburbs this year, Smith said.
“All across the Metroplex you see a focus on neighborhood grocery-anchored shopping centers,” he said. “And now, grocers are focused on hitting the urban core, such as Uptown, the Design District and Deep Ellum.
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