New North Texas Center: Whole Foods to Anchor

In Houston, Whole Foods Market will anchor a 40-acre multi-use development set to break ground in Southlake, north of Dallas-Fort Worth.

Trademark Property Co., a multi-use investor, developer, and operator based in Fort Worth, and Harrison Street Asset Management, a global alternative investment management firm with $109 billion in assets under management, reported a joint investment in Shivers Farm. The project, which is slated to break ground in September, will bring a mix of retail, dining, office, gathering spaces, and residences.

Located near State Highway 114 and North White Chapel Boulevard, Shivers Farm will have the first Whole Foods in Tarrant County’s Southlake community. The new store will join 15 others in the Dallas-Fort Worth metroplex.

A Retail Resurgence

In addition to Shivers Farm, Trademark and Harrison Street are also jointly working on Anthem, the 403,000-SF redevelopment of the former Lincoln Square shopping center in North Arlington.

“We are seeing a resurgence of retail development across the country, with three of our own projects breaking ground this summer,” Terry Montesi, CEO and Founder of Trademark, said in announcement. “Shivers Farm stands out as one of Southlake’s most significant commercial developments in recent history, and we look forward to bringing this project to life alongside Harrison Street in one of Texas’ most affluent communities. We appreciate their investment and confidence in our team and portfolio.”

In Cypress, northwest of Houston, Trademark is developing the Dunham Pointe retail village on 25 acres at Mason Road at Highway 290 with Dunham Pointe Development. Planned for 206,000 sq ft of retail, Dunham Pointe will also be anchored by a national organic grocer.

A Plaza With Heritage Trees

Shivers Farm will have 111,000 SF of retail, 38,000 SF of boutique office space, and 37 single-family lots. A 3-acre pad could house a hotel, entertainment, or additional retail space. So far, three retail leases totaling 40,199 sq ft have been finalized and negotiations are in progress for another 65,000 sq ft of retail and restaurant space. Whole Foods will occupy 35,500 SF.

In Shivers Farm, a development of Trademark Property, will have a one, acre park surrounded by heritage live oak trees. Dwell Design Studio courtesy rendering.

In Designed by Dwell Design Studio, Shivers Farm will be anchored by a one, acre park built around heritage live oak trees. The project will incorporate restaurants with outdoor seating, public art, and programs for the community. Ridgemont Construction is the general contractor and Kimley-Horn serves as civil engineer and landscape planner.

“Shivers Farm is a significant opportunity that reflects both the history and future of Southlake,” said Blake Bickmore, Vice President of Development at Trademark. “From the farmhouse-inspired architecture to the preservation of the site’s heritage oak trees to the thoughtfully curated mix of retail, dining, office, and public spaces, every aspect of the project has been carefully designed to create a destination where the community can gather and make lasting memories.”

Madison Realty Capital originated a $77 million loan to the Trademark-Harrison Street joint venture for the construction of Shivers Farms.

“Dallas-Fort Worth remains one of the most fundamentally sound and diverse markets in the country. Southlake is a particularly sought-after suburb in the metro, and Shivers Farm will deliver Southlake’s first Whole Foods while expanding its retail, office and residential offerings,” said Samir Tejpaul, Managing Director and Head of Investments at Madison Realty Capital. “Trademark and Harrison Street bring considerable experience to this project, and we are pleased to provide the financing needed to advance its development.”