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FORT WORTH-A Dallas developer is eyeing a construction start in the summer on a three-building retail development in the shadow of a Wal-Mart Supercenter.

The site plan for the North Beach Street project has just gone into the city, says Mark Matise with Browning Property Co., who represents the developer, Landsdowne Development Inc. of Dallas. “It’s very preliminary. We just bought the land in recent months,” he says about a proposal that’s so new that a name has yet to be decided.

Matise is courting neighborhood retailers for 30,000 sf of shop space, set on a 4.6-acre tract. He says talks are under way with a 10,000-sf restaurant prospect. “I’m real hopeful by the time we start construction that we’ll be at 50%,” he tells GlobeSt.com. If Browning’s construction schedule holds up, shell space will deliver for tenant finish-out in first quarter 2007, he says, adding cross-access agreements with Wal-Mart already have been worked out.

The developer recently inked a 52,800-sf ground lease to Wachovia, which is planning to open a branch in May. The Charlotte, NC-based financial institution is planning to add 50 branch locations in Texas this year, of which 15 to 20 will be in Dallas/Fort Worth, according to a local executive with Wachovia Corporate Real Estate.

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