To date, 150,000 sf has been pre-leased and another 2,900 sf areunder negotiation for Watauga Pavilion, a 200,000-sf project thatbroke ground in October 2002 with in-house capital, James Hankins,senior vice president of development for the ASG Real Estate Co.,the Carrollton, TX-based subsidiary of Kuwait's Alshall Group,tells First American Bank in Dallas has bundledstandard construction financing for a development that will deliverits first stores in September and October.

The leases went to the lender just last week after cornering afinal signature for a 33,000-sf Oshman's sporting goods store.Terry Syler of the Dallas-based Weitzman Group negotiated the10-year lease with Hankins sitting across the bargaining table.Soon to come will be final signings by Office Depot and Half PriceBooks, Hankins confides, both of which are considered done dealsand part of the 150,000 sf of pre-leased space.

The power center is taking up 19 of 24 acres 7600 Denton Highwayin Watauga, where the developer has secured a highway-fronting sitein a northeast Tarrant County suburb that totals just 4.5 squaremiles. The balance of the land most likely will be built out withgarden-office buildings, according to Hankins.

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