(For more retail coverage, click GlobeSt.com/RETAIL.)
DALLAS-The Plaza at Rockwall will comprise 50 acres and 500,000 sf of retail space that was purchased in excess of $80 million by an affiliate of Forth Worth-based the Woodmont Co. The development will be adjacent to the 225,000 sf of retail provided by Woodmont's Rockwall Crossing.
"The retail interest that we generated for [Rockwell Crossing] was so great it caused us to pursue land adjacent to it," Stephen Coslik, chairman and CEO of the Woodmont Company, tells GlobeSt.com. "There are shopping centers out here, but this will offer not just a shopping center but specialty shopping as well."
Woodmont is hoping that the class A space will attract retailers and customers by providing a long-term shopping outlet for the expanding Rockwall community, which lies just 20 miles east of Dallas.
Construction on the center's anchors, JC Penney and North Carolina-based department store Belk, will begin momentarily and should finish by October 2007. Staples, Ulta salon and beauty products and Best Buy will also occupy the center, as will a variety of specialty stores and local boutiques, slated for completion in Spring 2008.
"The location and market we're in makes this project unique," Coslik asserts. "Many of these retailers, such as some of the specialty book and clothing stores, can't be found in or around Rockwall, they're just not in that market."
Together with Rockwall Crossings, the Plaza at Rockwall will provide nearly 750,000 sf of shopping for the area.
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