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PEARLAND, TX-In a first-time joint venture, Transwestern Development Co. and WCF Development will build a $130-million, grocery-anchored shopping center. Construction on the 600,000-sf Shadow Creek Ranch Town Center wll get underway in the fourth quarter.

The development at the corner of Texas 288 and FM 518 will be anchored by a 150,000-sf H-E-B grocery store, the largest in the Greater Houston metro. To date, preleases have been inked by Academy Sports, Amegy Bank, Compass Bank, La Madeleine and McAllister’s Deli. “When we break ground, we’ll have approximately 400,000 sf of leased space that we will have under construction that will open in the summer of 2007. That’s as of today,” says Will Deane, managing director for Houston-based Transwestern Commercial Services, “and we’re adding more as we complete deals. We anticipate opening the center with a very high occupancy.”

Shadow Creek Ranch Town Center has been on the drawing board since 2003 when WCF Development from Houston acquired 110 acres and flipped 22 acres to the Memorial Hermann Healthcare System to build the city’s first medical office building. “In the process of designing and details, Tranwestern stepped up and told us they wanted to partner with us on the project,” Wayne Fox, president of WCF Development, tells GlobeSt.com.

Fox and Deane concur that Pearland is a strong market and an attractive destination for developers, pointing out that the city is pro-development. Additionally, an explosion in single family-housing construction clearly supports the need for retail. In the past two months, the developer of the 3,500-acre Shadow Creek Ranch master-planned development has annexed additional 500 acres for project to build another 1,200 to 1,400 homes in that area, according Deane.

Deane and Amanda Fox of Fox Properties are marketing and preleasing Shadow Creek Ranch Town Center, which has been designed by David Kastendieck and Keenon Raynor with Identity Architects in Houston. Transwestern is providing management services for the project.

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