Texas Size Retail Project Takes Shape, Market briefs

In Dallas, A Texas size retail project is taking shape in the city of Anna that will ultimately bring 750,000 SF of shops to a growing region of North Texas.

Big V Property Group and its development partner The Seitz Group have formed a joint venture with a fund managed by Principal Asset Management for the development of Rosamond Town Center, about 45 miles north of Dallas.

The proposed 355,826-SF open air center is slated to break ground soon near Rosamond Parkway and Highway 75, the developers reported.

Rosamond Town Center will be anchored by Academy Sports + Outdoors, Aldi, Burlington, EOS Fitness, Hobby Lobby, HomeGoods, PetSmart, and T.J. Maxx. Citizens Bank is the lender for the project.

The center is a complementary development to Rosamond Crossing, a 175,300-SF Kroger-anchored center expected to open in 2027. The two developments are part of a 750,000-SF complex in Collin County being developed by Big V Property Group, a retail real estate firm based in Charlotte, N.C., and The Seitz Group, a real estate development company based in the Dallas-Fort Worth area. The projects represent Big V Property Group’s first developments from the ground up.

In Collin County, a region of North Texas including the fast, growing cities of Anna, Celina, Princeton, and Melissa, is home to 1.2 million residents. The population is slated to double by 2060, as stated by the developers.

Big V Property Group, which has been expanding its Texas portfolio, teamed up with Principal Asset Management on a Houston area purchase in December. The joint venture purchased Fairfield Town Center, a 355,000-SF center anchored by Cinemark, Ross, Marshalls, Home Goods, and Burlington.

“Based on Big V’s expertise in retail, and our successful work with them on acquiring Fairfield Town Center, we look forward to continued partnership opportunities,” said Colin Frye, Investment Director at Principal Asset Management. “This new project in Anna will serve a growing community, and we are proud to help meet that demand.”

Big V Property Group owns and manages 23 centers, including six in Texas: RIM and Alamo Ranch in San Antonio, Glade Parks in Euless, Deerbrook Marketplace in Humble, Fairfield Town Center in Cypress, and Southpark Meadows in Austin.

The Seitz Group has completed 51 projects totaling 8.8 million sq ft of retail space.