Construction End Nears for 599,188-SF, 70-Acre Retail Undertaking in Las Colinas

A 599,188-sf retail project, two years in the making, in upscale Las Colinas will deliver its second phase in November, bringing at least two dozen more retailers to one of Dallas’ fastest-growing retail and multi-family submarkets.

MacArthur Park’s second phase – 198,600 sf – will be completed in November although some tenants of the nearly filled center have set October openings, says Keith Smith, project manager for developer Regency Realty, based in Jacksonville, FL. The 330,588-sf first phase opened in August 1999. The overall 55-tenant project represents Regency’s largest new construction undertaking in Texas. “It’s just a huge project,” Smith told GlobeSt.com.

The entire project is situated on 70 acres of prime land and supported by a road infrastructure that’s as impressive as the submarket that features such special touches as marble curbs in the downtown, a maze of Venice-style canals and a working movie studio lot. Smith says 70%, or 139,000 sf, of the second-phase retail tenants had signed for space before ground broke, a statistic that is up to 90% and still climbing. Within weeks, 8.5% more leases will be finalized, he told GlobeSt.com.