$90M Project's First Space Ready to Turn

THE WOODLANDS, TX-With the first 250,000 sf nearing the finish line, the developer of the 493,509-sf Market Street will launch construction in first quarter 2005 on the balance of the mixed-use space.

Loch Cook with Page Partners in Houston tells GlobeSt.com that letters of intent are in play that, if closed, could fill the lion’s share of the second phase of the $90-million town center. Trademark Property Co. of Fort Worth and Kimco Developers Inc. of New Hyde, NY, are partnering on the development, which broke ground six months ago. The entire project will be done by late 2005.

While scouting for additional prospects, Cook and Nick Hernandez, also with Page Partners, recently closed five leases for the first phase. Tommy Bahama’s Tropical Cafe & Emporium reserved 11,500 sf; gardening retailer Smith & Hawken, 5,000 sf; Berryhill Tamales, 4,500 sf; Beauty First, 3,800 sf; and florist KaBloom, 1,300 sf. To date, 70% of the first phase has been pre-leased.