Dallas-based Rosewood's traditional playing field has beenhotels, resorts and office buildings. "We are very honored to havethem as our partner, which makes it the most distinct retailproject in Dallas," Kirk Hermansen, founder of the Dallas-baseddevelopment group, tells GlobeSt.com. "We approached them. Itseemed like a good fit." He expects the 10-acre Plaza of the Oakswill break ground in roughly three months at the intersection of FM407 and 2499, right across the street from the Shops at HighlandVillage, which he co-developed with the Jacksonville, FL-basedRegency Centers Corp.

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Hermansen says the Plaza of the Oaks will be marketed as aRosewood-branded retail development. Its design calls for 80,000 sfof retail and 15,000 sf of second-floor boutique office. Hermansenisn't ready to disclose any tenants' names, but it will be"high-profile local and national retailers, one of a kind to themarket," he guarantees, hinting that one's from Las Vegas. "I don'tthink we'll be waiting on the leasing to get started. The activityhas been strong." The project is penciled for a fall 2009delivery.

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"Our goal here is to create a specialty retail and luxury officeproject in the town of Flower Mound and the trade area," Hermansenexplains. "We don't want to compete with the Shops at HighlandVillage."

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The 352,000-sf Shops at Highland Village opened in September2007. In recent days, the leasing team has disclosed deals with Ben& Jerry's, WIK Candle and Blue Goose Cantina. The tenant rosterhas surpassed 60 in a mix of national and local retailers andrestaurants.

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The Plaza of the Oaks will keep a stand of four 40-inch diametertrees as part of site planning with the city. Hermansen says thetree canopy is being preserved and expanded. "The site work willtake longer than normal due to the tree requirements," he says,adding that there will be more trees than they started with oncethe project is done.

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Hermansen says the Plaza of the Oaks site was bought at the sametime as the neighboring center's dirt, but he held the 10 acres forhimself. A cross-access agreement has been secured with thenext-door neighbor, Super Target; the two also will share anentrance.

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Hermansen spent 18 months working his plan through the zoningprocess. "We try to take a collaborative approach and not fightcities over a particular piece of property," he says. "We weresuccessful within doing that here and in Frisco."

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Fox Design Group of Tulsa designed Plaza of the Oaks, buildingin water features, terraced parking lot and infinity edge pond withal fresco dining for the restaurant lineup, which is projected tobe 30% of the roster. Environs Group of Lewisville, TX is thelandscape architect and its affiliate G&A Consultants Inc. isthe civil engineer. The general contractor has yet to bepicked.

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The Plaza of the Oaks' leasing team is Mike Geisler, foundingpartner of Dallas-based Venture Commercial Real Estate LLC, andvice president Easley Waggoner Jr. and associate Jane Ann Stockton.As the project moves toward permitting, the team's quoting $25 persf to $35 per sf for the preleasing chase.

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