The walls to the 71,450-sf first phase will be going up in thecoming week, with spaces ready for tenant finish-out by mid-May,Mike Cagle, executive vice president for Dallas-based John BowlesCo., tells GlobeSt.com. He and his wife, Lou B. Cagle, aredeveloping the Shops of Granbury on land fronting US Highway 377 ina North Texas city with a historic town square surrounded byenclaves of second homes and hotels for weekend and vacationgetaways. Developing as the Shops of Granbury Ltd., the couple haslanded long-term anchor deals for a 35,000-sf Bealls' newlarge-format shop and 14,600-sf Staples office supply store. TheShops of Granbury's grand opening is planned for late August.

"We've always wanted to do something in Granbury," says Cagle,whose family has had a ranch in the Hood County town since the1940s. The couple has sold two pad sites to Spring CreekRestaurants, a 26-year-old, family-owned chain with 29 locations inDallas/Fort Worth. One pad will hold a Spring Creek Barbecue andthe other, a Mexican Inn Cafe. There is one pad site left in the11.24-acre first phase and several more planned for the six-acrephase two, which will add another 75,000 sf to 80,000 sf of retailspace to the Shops of Granbury. The inline space is quoted at $16per sf to $18 per sf, triple net.

Meanwhile, Cagle says they are working with the owner on thedevelopment plan for the balance of his stake at the bend of theBrazos River. The Cagles were the driving force behind PavillionCourt, with 700,000 sf of retail and 50,000 sf of office space, atthe North Dallas crossroads of Coit and Campbell roads. He saysthis is the first major project that they've undertaken in severalyears. And, he says, "it's the first that we've done as apartnership outside the family's interest."