Woodmont Buys Lead Pacific Northwest Charge

FT. WORTH-The Ft. Worth-based Woodmont Co. is heading west, northwest that is. The firm has closed its first deal, buying a real estate development company and 42,000-sf retail center in Missoula, MT. It’s also the first deal consummated under a restructuring for such tactics that Woodmont’s had in development for nearly two years.

Leading the northwest expansion is David Hutchinson, who is on board as a principal and board member with Woodmont after his firm, Grant Creek Partners, was brought into the fold. The takeover came with the 42,000-sf Grant Greek Town Center, which is in the midst of a 183,230-sf expansion that will bring national retailers to their first Montana locations, Erik Coslik, Woodmont associate, tells GlobeSt.com. In all, it’s a $16-million deal, he says.

Coming in May 2002 will be a 32,000-sf Linens ‘N Things; 30,000-sf Ross Dress for Less; 28,000-sf TJ Maxx; and 10,000-sf Famous Footwear. New space, says Coslik, tallies 119,950 sf, but factoring in four outparcels, only one of which has been developed, takes the bottom line to 183,320 sf. Bernardo Willis Architecture of Spokane designed expansion for Grant Creek Town Center and Quality Construction of Missoula is the general contractor. Hutchinson has set up a Woodmont office on site.