Trademark Property Co. Under Contract to Purchase Land for WestBend Expansion
Sydney Townsend, 214.373.1601
Mixed-use development to expand as initial redevelopment nears completion;
More retail, plus multi-family, condo and hotel contemplated
FORT WORTH, Texas (March 1, 2016) – Trademark Property Co. today announced that it is under contract to purchase 3.5 acres of land adjacent to its 278,000-square-foot WestBend mixed-use development in Fort Worth’s University District. The parcel is located on University Drive immediately south of WestBend, along the Trinity River.
“We believe this is one of the best pieces of land in Fort Worth with incredible visibility and frontage on both University Drive and the Trinity Trails. This acquisition will allow us to expand our retail footprint and improve accessibility,” said Edward Manuel, senior vice president – development, Trademark Property Co.
Conceptual planning is underway to develop additional mixed-use space featuring ground floor retail with either a signature hotel or multi-family and condo units above. Currently, the site is occupied by a Hawthorne Suites hotel.
“We are redeveloping WestBend with the vision of becoming the go-to 21st Century retail/mixed-use development in Fort Worth,” said Terry Montesi, CEO, Trademark Property Co. “This acquisition will give us over 1,150 feet of frontage on both University Drive and the Trinity Trails and will allow us to add a new traffic light and additional retail space. We also plan to incorporate a high-quality hotel, multi-family, condos, or a combination of the three to our existing development. This is truly world class real estate.”
The expansion isn’t the only milestone at WestBend this month. Tyler’s will open its first Fort Worth location at the property in early March. In addition, construction is underway on two additional Fort Worth firsts: Drybar, slated to open in spring 2016, and HG Sply Co., open in summer 2016, complete with a 5,000-square-foot patio along the Trinity River and Trinity Trails.
The new tenants come as part of Trademark’s WestBend redevelopment, which includes adding new retail, restaurants and office space. Most recently, CorePower Yoga, Pax & Parker, and Woodhouse Day Spa have opened at the property, joining existing tenants The Fresh Market, Zoë’s Kitchen, East Hampton Sandwich Co., and Silver Fox. In addition, Trademark completed WestBend 2, a new 81,150-square-foot building that includes The Fresh Market on the ground floor and 57,000 square feet of new Class A office space directly above, overlooking the Trinity River. In total, WestBend includes 278,000 square feet of retail, dining and office space, including the existing River Plaza office building.
WestBend’s redevelopment is designed to align with the principles of Trademark’s Conscious Place initiative, a stakeholder-driven development model that aims to ensure that its properties are more than just places of commerce, but also places of community and meaning. In support of this initiative, Trademark is incorporating features and amenities designed to educate, inspire and engage all patrons, including a public art program with works commissioned by local artists, Trinity River and Trinity Trails integration, bike racks, upgraded landscaping, valet, free structured parking, and generous outdoor seating areas on the Trinity River and Trinity Trails.
About Trademark Property Co.
Trademark Property Co. is an operator, investor and developer of award-winning, mixed-use town centers, specialty, community, power centers and enclosed regional malls. Since 1991, the Fort Worth, Texas-based Trademark has invested in, or developed over 11.5 million square feet of retail and mixed-use assets worth over $2 billion. Trademark’s experienced team of 100 employees is responsible for close to 6.2 million square feet of retail and mixed-use projects currently in operation or development/redevelopment, including: Alliance Town Center (Fort Worth, Texas), Burr Ridge Village Center (Chicago, Ill.), Glades Plaza (Boca Raton, Fla.), Hillside Village (Cedar Hill, Texas), La Palmera (Corpus Christi, Texas), Market Street Flowood (Flowood, Miss.), Market Street – The Woodlands (The Woodlands, Texas), First Street Napa (Napa, Calif.), Rice Village (Houston, Texas), Saddle Creek (Germantown, Tenn.), The Shops at Highland Village (Highland Village, Texas), The Shops at La Palmera (Corpus Christi, Texas), Victory Park (Dallas, Texas), Watters Creek (Allen, Texas), Waterside (Fort Worth, Texas), and WestBend (Fort Worth, Texas). For more information, visit www.trademarkproperty.com or interact on Facebook, Twitter and Instagram.