"The sheer size and the opportunity that we have to create adestination shopping, living and dining area is what really makesthis unique for us," Chris Ellis, principal with Austin-basedEndeavor, tells GSR. "At full build-out, it will be the largestshopping center in the City of Austin." Endeavor began the projectthree years ago, buying 35 acres and placing dibs on another 190 atthe interstate's intersection with Slaughter Lane, just 10 milessouth of the downtown. "We decided to go ahead and place a biggerbet down here and purchase the whole 425 acres," he says about therecent acquisition. "We knew there was demand for retailers to bein this trade area."

The first phase to Southpark Meadows, a 257,926-sf, 92%-leasedcenter anchored by a 206,601-sf Wal-Mart and 22,304-sf PetsMart,opened in June. It's just been sold for $21 million to Oakbrook,IL-based Inland Western Retail REIT Inc. Now, Endeavor's off andrunning on a $200-million, 850,000-sf second and third phase ofretail development, Ellis says.

Though Endeavor has the connections to partner just like it'sdoing in North Austin on the 1.3-million-sf Domain with theIndianapolis-based Simon Property Group Inc., Ellis says the planis to solo on Southpark Meadows until it's developed. Atcompletion, the principals will decide whether to take on apartner, sell in its entirety or place permanent financing for along-time hold.