Another Lease Capped for 322,376-SF Center

Mattress Giant took 4,125 sf in a long-term deal structured by Brian Murphy, senior vice president, and Greg Bracchi, both of the Staubach Co.'s retail services division. They represent Mattress Giant in its Dallas-Fort Worth site selections while Steve Greenberg and Karen McCully, both of Dallas-based Weitzman Group, hold the project's leasing assignment.

The Highlands of Flower Mound, being developed by Direct Development, has a tenant mix made up of some of the best-known and most successful retailers in the area. SuperTarget is the anchor for the only large power center to be rising at this time in the DFW market.

The Highlands of Flower Mound roster now includes Linens N Things, 30,661 sf; Ross Dress for Less, 29,947 sf; World Market, 17,993 sf; Party City, 12,000 sf; Famous Footwear, 10,202 sf; and Pier I, about 10,000 sf. Also signed were Payless ShoeSource, AT&T Wireless, Bank of America, Chili's, Subway and McDonalds.

Direct Development is seeking to create "a true retail destination for Flower Mound and the surrounding area," Syd Hurley, principal, said in a press release. But, it's also chasing the shopping habits of a trade area with high annual incomes and projected growth patterns. Within a one-mile radius of the center, there are 3,625 residents with an average household income of $125,195 annually. The three-mile radius has 19,999 residents with an average annual income of $126,100 while there are 115,672 people with an income average of $90,791 per year within a five-mile radius. The area, which grew by 9% in the last two years, is projected to grow another 20% in the next five years.