Big V, Seitz Group embark on construction of new DFW retail center
Ground is set to break on a discount-anchored shopping center in a fast-growing Dallas-Fort Worth suburb.
Big V Property Group and The Seitz Group will celebrate the groundbreaking of Rosamond Town Center in Anna, Texas, on Tuesday, June 30. The 355,826-sq.-ft. open-air center will be anchored by Academy Sports + Outdoors, Aldi, Burlington, EOS Fitness, Hobby Lobby, HomeGoods, PetSmart and T.J. Maxx, and will feature several outparcels and specialty stores.
The property is an additional, complementary development to Rosamond Crossing, with 175,300 square feet anchored by Kroger (now under construction), with other tenants including Bank of America and McDonald’s about to start construction. The two will be part of a 750,000-sq.-ft. complex in Collin County being developed by Big V Property Group, The Seitz Group and Principal Asset Management, which is financing the project.
Big V already owns and operates six properties in the Lone Star State, including RIM Shopping Center and Alamo Ranch in San Antonio, Glade Parks in Euless, Deerbrook Marketplace in Humble, Fairfield Town Center in Cypress and Southpark Meadows in Austin.
“We’re delighted that this new, much-needed project to serve a growing submarket of Dallas is continuing so rapidly – with Rosamond Town Center beginning construction nearly one year ahead of our original schedule,” said Jeffrey Rosenberg, chairman and CEO of Big V Property Group. “Our partnership with Eric Seitz on this exciting new project has been an extraordinary way to expand our redevelopment, management, operations and leasing expertise into new construction.”
The two firms noted that Anna was recently named the fifth fastest-growing U.S. city with populations of 20,000 or more, according to the U.S. Census Bureau. Three neighboring cities – Celina, Princeton, and Melissa — were ranked first, third and fourth. The median household income in Collin County is $117,000.
[READ MORE: Big V acquires 'value-oriented' Houston area center]
“That we are breaking ground on Rosamond Town Center less than one year after beginning construction on our Southeast project is a testament to the need for more quality retail in Anna, and especially on the Interstate 75 corridor,” said Eric Seitz, president of The Seitz Group. “And the area continues to grow, with housing developments being announced regularly. These new residents will have the best-in-class shopping, dining and services right in their own backyards.”
Headquartered in Charlotte, N.C., Big V Property Group operates more than 50 retail centers occupying a total of 9.5 million square feet. Based in Dallas-Fort Worth, The Seitz Group has developed 51 retail shopping centers totaling 8.8 million square feet over its 33-year history.
