Golden Triangle Mall acquired, to be redeveloped

Dallas -- GTM Development, a limited partnership created by The MGHerring Group and Cencor Realty Services, said it has completed the acquisition of Golden Triangle Mall in Denton, Texas.

MGHerring will be responsible for the redevelopment of the 765,000-sq.-ft. Golden Triangle Mall, which will begin in early 2012 with a grand reopening slated for next fall.

Cencor manages the mall while MGHerring and The Weitzman Group, Cencor’s brokerage affiliate, jointly lease the property.

Golden Triangle Mall is anchored by J.C. Penney, Macy’s, Dillard’s and Sears. Sub-anchors include Ross Dress for Less, Barnes & Noble Booksellers and DSW. Other national retailers and restaurants include Hollister, American Eagle, Aeropostale, Bath & Body Works, The Limited, Victoria’s Secret, Starbucks and more.

Merchandising plans call for new retail and full-service restaurants. Redevelopment will include a new exterior façade and redesigned mall entrances, updated tenant storefronts, a new food court, new flooring, materials and design elements in the common areas, new amenities throughout the mall including seating areas, interior and exterior landscaping, fixtures and directories, and new interior and exterior property signage, graphics and lighting. CMA has been selected as the architect for the redevelopment.

The redevelopment is supported by the City of Denton through a performance-based Economic Development Grant Agreement approved in August.

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