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THE WOODLANDS, TX-Kimco Developers Inc. is kicking in equity for Fort Worth-based Trademark’s $90-million, mixed-use project in the Woodlands.

The agreement calls for Kimco to invest “between 25% and 35% of the total project capitalization,” Tommy Miller, Trademark’s CFO tells GlobeSt.com. The equity partner, based in New Hyde, NY, is an affiliate of REIT Kimco Realty Corp.

Miller says Kimco also will provide consulting expertise and commit personnel to construction and leasing phases for the 468,000-sf Market Street at the Woodlands, now being built. “Kimco brings 35 years of strategic experience in retail development, leasing and management to our team,” Terry Montesi, Trademark’s president, said in a press release. “Their deep retailer relationships and experience will add tremendous value to this project.”

Market Street is rising on 34 acres in the heart of the Woodlands’ designated town center. The design calls for 212,000 sf of retail space, 60,000 sf for sit-down restaurants, a 78,350-sf H-E-B grocery, 26,000-sf Borders Books & Music store and 92,000 sf of loft-style, class A space. Tenant move-ins are to start in March 2004.

In concert with securing the equity partner, the Market Street project also got a green light for an economic development zone from the Woodlands Town Center Improvement District. The petition approval ultimately will deliver the $9.8 million needed to pay for project amenities, such as a parking garage, water fountain, courtyards, park and landscaping.

Kimco and Trademark partnered on the 424,624-sf Gateway Station, a shopping center in Burleson, TX, a Fort Worth suburb. Anchored by Kohl’s, the center opened earlier this year. It is one of 17, totaling five million sf, built with backing by Kimco Developers, which was launched Jan. 1, 2001, to plan, build and sell shopping centers. Kimco has interests in more than 550 shopping centers in 41 states, Canada and Mexico.

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