(For more retail coverage, click GlobeSt.com/RETAIL.)
FLOWER MOUND, TX-The 19-acre balance of a 27-acre, mixed-use plan is under contract. The Waketon Ranch land is expected to change hands in September, opening the door for retail and office development.
Russ Webb of Dallas-based Stream Realty Partners LP tells GlobeSt.com that a local developer is poised to pick up the balance of a tract near the FM 2499-407 intersection, a development hotspot that's generated more than two million sf of national-name retail in the past three years. Equi-Mor Holdings Inc. of Denver bought the acreage and a 27,000-sf shuttered charter school in March 2005. Since then, the building and seven acres have been sold to Michael Winburn of Southlake, who is under construction on Win Kids Sports & Learning Center. The anchor is slated to open in late September.
"It was not an easy project or easy listing to get it where it is today," Webb says. The tentative plan calls for five pad sites that will wrap around the anchor, with a 4.5-acre gateway tract fronting FM 2499.
Webb says the team's already fielded inquiries from retailers and office users should the 3000 Waketon Dr. land end up being developed in house. "Our hope is it will sell out immediately," he says. "I feel like once Win Kids is open that's going to be a major draw."
If the sports and learning center lives up to Winburn's flagship in Southlake's Parker Square, there will be 3,000 students, according to Webb. The program includes gymnastics, martial arts, parenting classes, cheerleading, swimming, dance and music. Among the extras is a children's hair salon.
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