Trademark relaunching WestBend development
Fort Worth, Texas — Trademark Property Co. said it is relaunching its WestBend mixed-use development in Fort Worth, Texas.
The move comes after strategically halting construction in fall of 2008 to wait for a recovery in the retail market. The first order of business will be the completion of the seven-level garage providing 798 parking spaces to serve the existing office buildings and restaurants. Additional new retail construction is slated to begin in mid-2012 with a grand opening projected for late 2013.
The company is also pushing ahead with a renewed leasing effort and will be seeking a hotel developer. Current tenants include Smashburger, Zoe’s Kitchen, Silver Fox and the River Plaza office tenants. Upon completion, WestBend will include 90,000 sq. ft. of retail, 150,000 sq. ft. of office space and 130 hotel rooms.
“We are experiencing extremely strong interest from retailers and believe the market has recovered to a point where the project is a reality,” said Trademark chairman and CEO Terry Montesi. “We are excited to be back on track with WestBend as there is significant pent-up demand for this part of Fort Worth.”
Terranova and Freshberry ink third long-term deal
Miami Beach, Fla. — Terranova Corp. announced that self-serve frozen yogurt concept FreshBerry has signed on to a long- term deal for an 1,800-sq.-ft. space in El Mercado Shopping Center, in Hialeah, Fla.
El Mercado is a Publix-anchored center with additional tenants such as Anna’s Linens, GNC and Pollo Tropical.
FreshBerry has also signed on to join Parkhill Plaza, in Miami, in a long term 1,600-sq.-ft. deal. Parkhill Plaza is a Winn-Dixie-anchored center.
The first Terranova-Freshberry deal was signed late last year for a 1,142-sq.-ft. space at Red Road Commons, in Miami.
Marcus & Millichap announces retail exec promotion
Encino, Calif. — Marcus & Millichap Real Estate Investment Services said it has promoted Bill Rose to director of the National Retail Group.
Rose joined Marcus & Millichap’s San Diego office in September 2003 as a retail and multifamily investment specialist. He was promoted to senior associate in September 2006. He rejoined the firm in November 2009 as sales manager of the San Diego office and in November 2010 was named western regional director of the NRG.