Kelly Shaw, principal of the retail division for Trammell Crow Co.'s Austin office, has closed the leases, which also tops off the small shops component of the 329-acre mixed-use development. "It is a good feeling," Shaw tells GlobeSt.com. "This has been a great project. It's a great trade area, a great developer...It's one you wished that you had more of."
Shaw has been working for two years to bring the 825,000-sf La Frontera Village to this stage and many of the retailers in the final leasing round have been announced piecemeal. An 87,000-sf Kohl's will anchor the build-out. For Red, Hot & Blue, a barbecue eatery, the 5,000-sf spot is the chain's first Austin location. Also coming is a 5,000-sf Lane Bryant; 5,000-sf Applebee's; 3,800-sf Clothestime; 3,100-sf BBQ Outfitters; and 1,400-sf AT&T Wireless. Some will open within 60 days and others not until October. The 110,657-sf signings include three stores already open-2,218-sf Wild Birds Unlimited, 1,639-sf La Salon Lumiere and 1,500-sf Lammes Candies. Just two days ago, a 15,000-sf plus Factory 2-U had been announced.
Shaw says the scores of retailers that are open are "very, very happy" with showings to date. Bed, Bath & Beyond is turning revenues 54% higher than anticipated for a new location while Barnes & Noble is riding at 20% and Pier I, 15%, says Shaw.
There's no news to report on the leasing front for a 39-acre retail joint venture of Houston-based Weingarten Realty and 35/45 La Frontera LP, the landowner and developer of the mixed-use project. The 39-acre center plans to be filled with high-end retailers, adding another 300,000 to 350,000 sf of retail space.
Weingarten vice president of leasing, Patty Bender, tells GlobeSt.com that she anticipates some leases will be in hand by late summer. Talks are under way, she says, with potential anchor tenants.
Don Martin, one of La Frontera's owners, tells GlobeSt.com that there is no more space to be had for retail development. "Clearly, we could sell more retail if we had it, but we wanted this to be a pure mixed use," he says.
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