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THE WOODLANDS, TX-The 400,000-sf retail portion of the Market Street has reached 80% occupancy with 15 tenants committing to 67,343 sf in the second phase. Most tenants are planning to open doors in the spring.
The remaining retail space will likely be leased up by the end of this year, says Tommy Miller of Fort Worth-based Trademark Property Co., which is co-developing Market Street along with New Hyde Park, NY-based Kimco Developers Inc. The 34-acre development at Six Pines and Lake Robins drives includes 100,000 sf of office space.
"We have another 65,000 sf of retail space in negotiations with 15 retail and restaurant tenants," Miller tells GlobeSt.com. "Market Street has really exceeded our expectations as far as tenant demand." The space leases for $28 per sf to $40 per sf.
The largest tenant in Market Street's second phase is Cinemark Theater, which leased 20,321 sf for a five-screen venue. The upcoming openings include several restaurants. "We purposefully pursued restaurants because we believe they bring a lot of flavor to a project like this," Miller explains. "Restaurants encourage people to stay longer and shop and stroll."
A 9,400-sf Grotto Restaurant will open in the coming months as will two of Dallas' hottest venues. Jasper's, founded and directed by executive chef Kent Rathbun, will open a 10,341-sf location. It is ranked as one of the "Top 20 Best New Restaurants in America." Wine bar Cru will open in a 2,156-sf spot.
Other tenants in the spring lineup are Pier One Kids, Cold Stone Creamery, Extreme Pizza, Jamba Juice, Johnny Rockets, Starbucks, Wachovia Bank and a trio of upscale women's boutiques, Elizabeth's Boutique, Maggie's and Tickled Pink.
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