WYLIE, TX-Marking its entry into the retail sector, Wilcox Development Services has started site work on a 2.9-acre tract for a 20,250-sf shopping center. The project is getting under way with a 40% preleasing to mostly local retailers eyeing the promise in being a Wal-Mart Supercenter neighbor.
Todd K. Ashbrook, COO for Dallas-based Wilcox, tells GlobeSt.com that Harvest Plaza at 2014 State Highway 78 North in a far northern suburb is rising on land bought nearly two years ago by the developer and equity partner, Markpoint Realty Group of Dallas. The center's ballpark cost is $3 million.
Askbrook predicts Harvest Plaza will be going vertical in 30 to 45 days. And, he adds, the center's space should be fully leased by the time it delivers in May. Already committed is 21 Wings, an electronic game store, nail shop and hair-styling salon. Chris Gibbons and Jonathan Cooper with Dallas-based Venture Commercial Real Estate are preleasing the center, which has 8,100 sf already banked for the plan, which has two one-acre out-parcels ticketed for sale.
Spring Valley Construction Co. of Dallas is the general contractor. Omniplan, also Dallas, designed Harvest Plaza, including landscape architecture. First United Bank & Trust of Durant, OK provided construction financing.
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