DALLAS-Opus West Corp., taking a cue from the marketplace, has hired a director of retail development for Texas as it implements a new corporate focus at the behest of its Minneapolis-based parent.
For Texas, the addition means coverage for all sectors. But more importantly, there's someone on board--Thomas Kier--to lead two major retail projects planned for Highland Village, north of Dallas, and Bee Cave near Austin. Though the duo's practically ready to go, Kier, a 20-year-plus veteran of the retail industry, will take a lead role to bring them to fruition. Meanwhile, he will focus on site selection for other projects and work them through the entitlement processes, much as he did as real estate manager for Nebraska, Minnesota, the Dakotas, New York and Massachusetts on behalf of the Bentonville, AR-based discount retail superstar for its mainstay box and Sam's Clubs.
"Retail is going to be a big focus for Opus in the future," Kier tells GlobeSt.com. The Phoenix-based Opus West is in the early stages of forming a retail division with the clout of its office and industrial groups. Last year, the developer took on multifamily to expand its horizon.
Kier says he will be soloing for now. As the pipeline fills, he plans to bring on some help. Right now, the Oklahoma native is getting acquainted with Texas and its retail after a long stint in the northern tier.
Kier lands in Texas just as Opus and Dallas-based Lincoln Property Co. are in the final entitlement stage for the 150-acre Hill Country Galleria in Bee Cave, a one-million-sf development. "It promises to be one of the biggest developments in the country for lifestyle next year," he says, adding construction could start this year. The JV plans to open Hill Country Galleria in early 2007.
In North Texas, the final clearance is in hand for the $50-million Marketplace at Highland Village, an 86-acre, mixed-use project that will be anchored by a 203,000-sf Wal-Mart. The lakefront project will include another 250,000 sf, plus or minus, of junior anchors and specialty space and 50,000 sf of office.
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