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Josh
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« on: July 16, 2008, 03:02:13 AM » |
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I have some exciting updates concerning Forney Marketplace, the 2 million square foot regional shopping center coming to Forney in September of 2010! This project, which is being developed by the Endeavor Real Estate Group, will help shape the future of Forney for the years to come as it brings countless high-end national retailers to Forney while also attracting restaurants, another movie theater and additional entertainment to our town, making Forney "the shopping, dining and entertainment center between Dallas and Tyler", the goal Endeavor has set for this new shopping center. Before diving into the updates, I do want to acknowledge the Forney Economic Development Corporation, the Forney City Council and our mayor. They are working tirelessly to attract top-tier development to Forney and ensure that we experience positive, constructive growth. The Forney EDC has done an amazing job getting the word out about Forney to the retail community; at the same time, the city council and the mayor have been very proactive in addressing the updates required to Forney's infrastructure to support projects of this scale by implementing cutting-edge concepts such as the Transportation Reinvestment Zone (TRZ) that will help provide the roadwork around this development. When asked to comment about these prospective tenants and the Forney Marketplace project as a whole, Darrell Grooms, mayor of Forney, stated that "[Forney Marketplace] is great for our community, offering excellent shopping and entertainment opportunities for our town". He also indicated that the city and the developer of the project are hopeful that the announcement of a movie theater in the 3rd phase of the project will help attract numerous well-known, upscale restaurants to the Forney Marketplace, greatly expanding our local options not just for shopping but for entertainment and dining as well. I've obtained more details about each phase of this project and I am very excited to announce the following prospective tenants for phase 1 of the center: Target (130,000 sq. feet), JC Penny (103,500 sq. feet), Belk (96,000 sq. feet), Kohl's (88,000 sq. feet), Dick's Sporting Goods (50,000 sq. feet), Best Buy (30,000 sq. feet), Barnes & Noble (28,000 sq. feet) and Ulta (12,000 sq. feet). These tenants are merely prospective tenants at this time, so this is not an official announcement that these stores will be opening in Forney, however, from what I can tell, Endeavor has worked with each of these tenants in their previous projects, so I believe we will see most, if not all, of these retailers in Forney as part of this project. Read on for more information about prospective tenants in Phase 2 & 3 of this project, including a movie theater, a grocery store and other anchor stores. Prospective tenants for Phase 2 includes Kroger (123,000 sq. feet), Steinmart (25,000 sq. feet) and Bed, Bath & Beyond (22,000 sq. feet). Prospective tenants in the final phase of the project include some major anchors, including Dillard's (140,000 sq. feet), Macy's (140,000 sq. feet), Lifetime Fitness (100,000 sq. feet), Babies R Us (60,000 sq. feet), Cinemark (57,000 sq. feet), Coldwater Creek (5,000 sq. feet) and Joseph A Bank (4,500 sq. feet). Please remember that these tenants are still prospective at this time and are subject to change. As tenants are confirmed and construction begins, I'll make sure to keep you updated with the latest news. In the meantime, if you know anyone who might be interested in leasing space around these national retailers in the Forney Marketplace, I would encourage them to contact Endeavor as soon as possible - given the size and scale of this project as well as the exciting growth in Forney's demographics, space will go fast! The project will include retail, dining, entertainment, office space as well as medical offices. For more details, contact Endeavor Real Estate Group at (214) 545-6900.
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sbanks02
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« Reply #1 on: July 16, 2008, 06:24:35 PM » |
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Josh, where are you getting this info on 'perspective' retailers? Just curious. I don't want to get my hopes up too much......
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Josh
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« Reply #2 on: July 16, 2008, 07:17:30 PM » |
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Josh, where are you getting this info on 'perspective' retailers? Just curious. I don't want to get my hopes up too much......
This information is being presented by Endeavor as part of their leasing package; it's what local commercial Realtors will be using to attract other tenants. It looks like it's the same information Endeavor may have distributed at the International Council of Shopping Centers this year to build interest in the project. The information matches with some of the rumors and other information I've been hearing for a while now, so I'm pretty confident about a number of these retailers.
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Will
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« Reply #3 on: July 16, 2008, 08:43:07 PM » |
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There is a PDF on Endeavor's website that confirms this information.
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Great Googly Moogly
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« Reply #4 on: July 16, 2008, 09:55:31 PM » |
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i wouldn't get all HAPPY, HAPPY about these "tenant" until the leases are signed, sealed and delivered...they can speculate about any retailer.
All of these would be awesome, just don't bet the farm on it...
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kingwillie
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« Reply #5 on: July 17, 2008, 12:46:50 AM » |
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CRAP!!!  That just means more traffic & no way to get around in my simple little small town, that has now gone to #$%^
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Josh
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« Reply #6 on: July 17, 2008, 01:38:28 AM » |
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CRAP!!!
That just means more traffic & no way to get around in my simple little small town, that has now gone to #$%^
If I can, I'll get my hands on a PDF or JPEG of the proposed new roads that are coming along with this shopping center - it will bring traffic, but most of the out-of-town traffic will be confined to the new exit and bridge, and there will be a lot of new roads coming in. For instance, one of the concepts is for Ridgecrest, which currently dead-ends into 548 north of the movie theater but south of Steve Silver Co and Reeder Rd, to continue past 548 and into the shopping center. This will connect to a number of other roads, including Reeder, and will make it even easier to get into and out of Windmill Farms. Windmill Farms may have its issues, but we have an awesome location, with 2 elementary schools, a middle school and a high school all on property, this new shopping center literally minutes away and the Wal-Mart and other existing shopping nearly as close. I agree with Great Googly Moogly - until leases are signed, anything could happen. This is the third time I've heard some of these stores called "prospective tenants" in Forney, and the previous two shopping centers never even happened. However, the previous two centers did not have such a strong level of engagement between the city, the EDC and the developer on the project and Endeavor has gone much, much further into the process than the previous developers have. Hopefully without getting anyone in trouble, I will say that at least some of these "prospective tenants" have been on-site and truly have expressed an immediate interest in the project, which is really exciting.
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torque95
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« Reply #7 on: July 17, 2008, 02:19:02 AM » |
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yep, josh is it possible some of these stores could complete ahead of others?? i mean thats always a possibility.
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Great Googly Moogly
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« Reply #8 on: July 17, 2008, 02:02:50 PM » |
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Josh, you're right. This development deal sounds serious and if it does materialize, plenty of good things will happen. With the economy the way it is, I wouldn't hold my breath. I'm cautiously optimistic though.
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Will
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« Reply #9 on: July 17, 2008, 02:11:35 PM » |
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The earliest these stores and restaurants would open would be sometime late in 2010, from what I understand. I fully expect the economy to begin to recover within the next two years. The economy is, and always has been, extremely cyclical; we are just in the trough of the economic wave right now. It is bad at the present, but it will bounce back, and there are retailers who will want to be in place when the bounceback occurs.
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torque95
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« Reply #10 on: July 18, 2008, 02:59:24 AM » |
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yep will thats exactly right man. i think some might open up ahead of schedule i mean like the smaller stores. the theater shouldnt take too long.
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Will
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« Reply #11 on: July 18, 2008, 03:03:47 AM » |
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The theater, if it comes here, is expected to be in the very last phase. I wouldn't hold my breath on that one.
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Josh
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« Reply #12 on: July 18, 2008, 11:13:23 PM » |
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The theater, if it comes here, is expected to be in the very last phase. I wouldn't hold my breath on that one.
Well, look at the timeline we're talking about - 2013, I believe, for the last phase. With projects like Devonshire still moving forward, by 2013 the demographics, population, etc., could all be very, very different in Forney. I don't know if it'll necessarily be that specific theater chain, but I am fairly certain there will be a theater when they get to phase 3 - I haven't seen a center of this scale built in the past 5 years without a movie theater - Southlake Town Center (AMC), Firewheel in Garland (AMC) and the Highlands in Arlington (Studio Movie Grill).
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Will
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« Reply #13 on: July 18, 2008, 11:22:15 PM » |
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I completely agree that there will be one built; I would be shocked if it were not. However, my point was not to hold your breath waiting for it be built soon.
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torque95
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« Reply #14 on: July 19, 2008, 01:28:34 AM » |
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true. i mean once they get going on it it wont take too long.
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