Trademark Redeveloping Texas Center, Market briefs

In Arlington, Texas, Fort Worth-based Trademark Property Company, a multi-use investor, developer and operator, purchased the 470,000-SF Lincoln Square shopping center in Arlington.

The 45-acre property sits at the high-profile southwest corner of Collins Street and Interstate 30. Trademark purchased the shopping center property, which was built in 1983, with plans to convert it into a multi-use development with office, multifamily, retail and restaurants.

The City of Arlington entered into a 30-year public-private partnership with Trademark that requires an investment of at least $150 million into the property in the next six years while also collaborating with local residents and leaders on redevelopment plans. The Arlington City Council agreed to co-invest $14.225 million with the developer in exchange for the investment.

“We are confident we can create a world-class destination that will upgrade the area’s offerings and be a catalyst for further growth of the neighborhood and its cultural, sports and entertainment venues,” said Terry Montesi, CEO of Trademark.

Montesi has tackled some major retail reboots around the nation, including some work on University Boulevard near Rice University for Rice Management.