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GRANBURY, TX-After a year of laying the groundwork, a Dallascouple has started work on an estimated $10-million first phase fora 17.24-acre retail development on the banks of the Brazos River.If the project keeps to the schedule, a second phase will breakground at year's end.

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.