Situated on 12 acres at 22756-22764 Westheimer Parkway, Villagioat Cinco Ranch is 65% leased, with a fall 2007 opening planned.Meanwhile, Marcel CEO Vernon Veldekens says he has his eye on twoother locations for other Villagio projects. He is under contractfor a 29-acre tract near Texas 620 and Foundation Road on Austin'sfar north side, with a year-end closing and a March 2008groundbreaking slated for the 175,200-sf, $70 million project.Meanwhile, Veldekens has targeted 12 acres in the Woodlands, whichhas an anticipated early 2008 close. He's also looking at otherTexas sites including Round Rock, San Marcos, New Braunfels andDallas.


Veldekens tells that the concept behind Villagioinvolves smaller, mixed-use centers in neighborhoods rather thanfronting freeways or interstate highways. "This gives a moreintimate relationship with the community, similar to a Europeantown square," he says. "We feel like we can put these all over townin mid- to high-end areas and have the same success as we have inCinco Ranch."


Because of the Villagio project's neighborhood locations,Veldekens says tenants are local and regional, with a sprinkling ofnational names. Tenants already committed to Villagio at CincoRanch include Berryhill Hot Tamales Corp, Azzarelli's ItalianRestaurant, Ya Ya's Clothing, Gina's Accessories, Salon De Vero,Bookworm, Alamo Title Co., Empire Vision Center Inc., RosenburgJewelers, Cinco Family Dentistry, Cinco Travel and Network FundingMortgage. The quoted ask is $28.80 per month, gross.

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