WattersCreek,

Jump-starting the second phase is 40,000 sf in eight new leasesand progress in talks for a nationally-branded hotel and theater.Terry Montesi, CEO of the Fort Worth-based Trademark, tellsGlobeSt.com that the next two weeks will bring a final signing bythe theater company, allowing its name to be released, and adecision by Trademark and its partners as to whether or not theywill joint venture with a hotel developer or ink an outright saleof the site. Also coming up soon is the decision regarding theresidential developer for Watters Creek, which sports a half-mileof frontage along US Highway 75 at its intersection with BethanyRoad.

Watters Creek, being developed with Coventry Real EstateAdvisors of New York City and Developers Diversified Realty ofCleveland, is a three-phase project with 550,000 sf of retail,100,000 sf of office and 260 apartments above the retail. Theoverall project is 65% preleased and the first phase at least 75%committed, according to Montesi.