Tech is Not the Only Game in Town

Nordstrom Rack is one of the prominent tenants moving into The Parke.

CEDAR PARK, TX—With tech firms entering the Austin market at a dizzying pace, it stands to reason that housing and retail are to follow. In the retail sector, Endeavor broke ground on a project called The Parke in an underserved area of Cedar Park last month and construction is underway. The site is located on 42 acres off the southwest corner of Highway 183A and New Hope Road. The Parke’s grand opening is slated for second quarter 2017. Daniel Campbell , principal with Endeavor, tells GlobeSt.com: “For an area to go from underserved to so well served in terms of retailers is quite exciting. To be just two months into construction and more than 70% leased speaks volumes about Cedar Park’s demographics, pent-up demand and retailers’ desires to be in a growing part of the country.” The Parke will encompass more than 370,000 square feet and includes prominent retailers 365 by Whole Foods, Nordstrom Rack, ULTA, Old Navy, DSW, Michael’s, Marshall’s, Dick’s Sporting Goods, Field and Stream, Red Robin, Starbuck’s, Petco and Tuesday Morning . “Endeavor is proud to have such a dynamic line-up at The Parke. We will be delivering the first new construction 365 by Whole Foods in the country and the first Field & Stream store in Texas,” said Charlie Northington , a managing principal with Endeavor. “This line-up includes top tier retailers from each of their respective categories and reflects the strong trade area demographics in Cedar Park. The majority of these retailers are very selective with their store locations, often only locating two or three stores in a city the size of Austin. It speaks volumes of the location and co-tenancy of The Parke that these retailers have chosen this project for their newest location.” More than 129,575 people live within a five-mile radius of the site, while traffic counts along 183A reach 45,000 vehicles per day. Additionally, the average household income within that same five-mile area tops $94,400 a year. Geevy Thomas , president of Nordstrom Rack, tells GlobeSt.com: “We’re pleased to have the opportunity to grow our presence in the Austin MSA at The Parke. Austin has been a great home to Nordstrom since 2009 and we’re thrilled to have the opportunity to serve customers at a destination with such great retail.” Other tenants that have signed or are negotiating leases include Amplify Credit Union, Chuy’s restaurant, Freebirds, Massage Heights, Mattress Firm, Orangetheory Fitness, Palm Beach Tan and Twin Liquors . Jeff Runas , president of 365 by Whole Foods Market, tells GlobeSt.com: “With the 365 by Whole Foods Market headquartered in Austin, it made perfect sense to have a one of our first stores in our very own backyard. Austin’s commitment to innovation and authenticity aligns perfectly with the core values of 365 by Whole Foods Market. This, combined with substantial local support team, made it the ideal place to continue to introduce new and current customers to a whole new grocery shopping experience.” In total, Endeavor has leased more than 270,000 square feet of the 370,000-square-foot project. Since opening its doors in 1999, Endeavor has acquired or developed more than 13 million square feet and currently has 1.7 million square feet in its pipeline. “Cedar Park is excited to have the opportunity to work with Endeavor Real Estate on another project in Cedar Park. Endeavor is known for developing high-quality retail projects and this project will be no exception,” said Phil Brewer , director of economic development for the city of Cedar Park. “Our residents have been asking for that next level of retailers and restaurants for several years and The Parke is going to go a long way in achieving that goal.”