DENTON, TX—Denton is a mix of traditional Texas horse country and college town with a music scene, strong employment growth and quality schools. Large employers located here include Peterbilt Motors and the headquarters of Sally Beauty Supply International, plus manufacturers United Copper, Thermadyne, Acme Brick and Jostens. Another employment segment that is expected to grow is aerospace/aviation centered on the Denton Airport, which is estimated to have a $58.4 million annual regional impact.

Denton is also the regional center for healthcare, including Texas Health Presbyterian of Denton and Denton Regional Medical Center. And, Denton's Texas Women's University has the largest doctoral nursing program and the fifth-largest nursing program in the United States.

The total area population is expected to increase by more than 15% to 357,609 by 2017. In fact, more than a quarter of all new home construction in the metro area is in Denton County, GlobeSt.com learns.

Rayzor Ranch Town Center, Denton's 641,000-square-foot open-air retail, dining and entertainment destination, is expected to be open in 2017, filling the need by the added population. Rayzor Ranch Town Center will include 68 acres of single and multifamily residences, 15 acres of public parks with walking trails and an open-air town center with a mix of specialty retailers and entertainment.

Additional retailers and restaurants under construction at the Town Center are expected to bring approximately 200-plus additional jobs to Denton. Some of the newest retailers include Raising Cane's, WinCo Foods, Chili's, In-N-Out Burger, Envy Nail Spa, Great Clips and Penn Station.

“We expect this addition will bring many new visitors to Denton, increase tourism dollars for the city, and provide new job opportunities for the citizens of Denton,” said Scott Wagner, senior vice president of development, RED Development. “We look forward to announcing more retailers and restaurants, as well as construction updates, over the months ahead.”

RED Development, the city of Denton and O'Reilly Hospitality LLC broke ground in the spring for a new Embassy Suites Hotel and Convention Center, one of many construction projects now underway at the Town Center project, GlobeSt.com learns.

The 70,000-square-foot convention center will include meeting and banquet space for 650 participants, up to 1,750 for larger events. In addition, the facility will house a 318-room Embassy Suites Hotel for event and other Denton visitors.

In addition, Holliday Fenoglio Fowler LP recently arranged $32.53 million in acquisition financing for Rayzor Ranch Marketplace within the Town Center. Built in 2008, Rayzor Ranch Marketplace is an outdoor shopping center 100% leased to Academy Sports + Outdoors, Ross Dress for Less, Guitar Center, Boot Barn, Jo-Ann Fabric & Craft Store, Petco, HCA Healthcare, Dickey's Barbeque Pit, Famous Footwear and Five Below, among others, and is shadow-anchored by Walmart, Sam's Club and Kohl's. Additionally, the center has development outparcels and 15 acres of land.

Part of the Rayzor Ranch 412-acre mixed-use development which includes Rayzor Ranch Town Center, Rayzor Ranch Marketplace is located in Denton at NEC Interstate 35 and US Highway 380 in the first major retail node between Lawton, OK and Dallas.

HFF worked on behalf of Fidelis Realty Partners to place the 10-year fixed-rate loan with Sentinel Asset Management, a national life group company. Additionally, HFF will service the loan, which is for 251,741 square feet of the center and excludes shadow anchors. The HFF debt placement team was led by director Jim Curtin.

This latest acquisition is the fifth property acquired since Fidelis Realty Partners opened its Dallas office in May 2014, leading to a portfolio of 1.3 million square feet now owned by the company in the Dallas-Fort Worth metroplex.

Instant Insights /

Rayzor Ranch Mixed-Use Development is Brimming with Activity

Related Stories

Recommended For You