Austin-based Hill Partners has put plans on hold for 800,000 sf of office space until the office market revives. But, with the city's retail market much healthier than its office counterpart, the retail portion of the project is proceeding, says Harry Scott of the Austin office of Trammell Crow Co., which is developing and leasing the retail component.Scott tells GlobeSt.com that the retail portion will be more oriented toward service providers than the larger Davenport Village shopping center on the northeast corner of the intersection.
A cosmetic dermatologist has been signed for half of the top floor of the 32,000-sf retail building, he says. Also a bank has signed a contract to place a 5,000-sf to 7,000-sf, full-service banking center, including drive-through lanes, at the shopping center. That lease should be signed in February. He declined to name the tenants.
The shopping center is looking for the right restaurant to occupy one of the pads, he says. "There's been a lot of demand for the restaurant pad," Scott says. "There's a national group that would take it right now." They are looking for an upscale restaurant that's not too upscale because two high-end restaurants have gone out of business in Davenport Village, he says.
Scott says the building shells should be ready for tenant finish in June. Retailers could be open by the end of the summer.
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