IRVING–Leon Capital Group, a Dallas-based, real estate developer, has announced that Whole Foods Market will be the anchor tenant in its new retail development, The Shops at MacArthur Hills.
Leon Capital Group purchased the site, located at the intersection of President George Bush Turnpike/SH 161 and North MacArthur Boulevard in Irving, in late 2013 with the goal of bringing Whole Foods to Irving. The site allows for 85,000 square feet of premium retail and restaurant development.
“The grocery store sector is an extremely competitive landscape in North Texas right now,” Will Tolliver, managing director for Leon Capital Group, told GlobeSt.com. “We wanted to bring a best-in-class grocer anchor tenant that would maximize the long-term value of the development and serve the needs of the thriving Irving community.”
Construction will begin on the 45,000-square-foot store, along with the neighboring retail spaces, this month. Leon Capital Group executives anticipate the completion of the Whole Foods Market shell in the spring, at which point the company will complete the build-out of the store, with an anticipated opening by fall 2016. Construction of the other retail stores and pad sites should be completed this May.
“We have seen the success of Whole Foods Market stores in other communities like Highland Village, Colleyville, Plano and Highland Park,” says Irving mayor Beth Van Duyne. “This is exactly the type of retailer we envisioned for Irving and one that residents and businesses have repeatedly requested.”
The Greater Irving-Las Colinas Chamber of Commerce and the Las Colinas Association were key partners in advancing the project, which required changes in zoning of the land in order to proceed.
Preliminary construction activity is already underway on the 12-acre site; Leon Capital Group and its project partners will hold an official groundbreaking for the development on Thursday.
“We have known there was a tremendous demand for a grocer of this caliber and reputation,” says Tolliver. “This location provides the high visibility of SH 161, the tremendous daily needs traffic along MacArthur Boulevard, and proximity to many of Irving's most prominent employers. We expect this development to deliver significant value and, ultimately, sales tax revenues for the city of Irving.”
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