Trademark under contract to purchase land for mixed-use development expansion

3/7/2016

Fort Worth, Texas -- Trademark Property Co. announced that it is under contract to purchase 3.5 acres of land adjacent to its 278,000-sq.-ft. WestBend mixed-use development in Fort Worth, Texas. The parcel is located on University Drive immediately south of WestBend, along the Trinity River.



“We believe this is one of the best pieces of land in Fort Worth with incredible visibility and frontage on both University Drive and the Trinity Trails. This acquisition will allow us to expand our retail footprint and improve accessibility,” said Edward Manuel, senior VP of development for Trademark Property Co.



The site is currently occupied by a Hawthorne Suites hotel. Trademark is in the process of conceptual planning to develop additional mixed-use space featuring ground floor retail with either a signature hotel or multi-family and condo units above.



“We are redeveloping WestBend with the vision of becoming the go-to 21st Century retail/mixed-use development in Fort Worth,” said Terry Montesi, CEO for Trademark Property Co. “This acquisition will give us over 1,150 feet of frontage on both University Drive and the Trinity Trails and will allow us to add a new traffic light and additional retail space. We also plan to incorporate a high-quality hotel, multi-family, condos, or a combination of the three to our existing development. This is truly world class real estate.”



Tyler’s will open its first Fort Worth location at the property in early March. In addition, construction is underway on two additional Fort Worth firsts: Drybar, slated to open in spring 2016, and HG Sply Co., open in summer 2016, complete with a 5,000-sq. ft. patio along the Trinity River and Trinity Trails.



The new tenants come as part of Trademark’s WestBend redevelopment, which includes adding new retail, restaurants and office space. Most recently, CorePower Yoga, Pax & Parker, and Woodhouse Day Spa have opened at the property, joining existing tenants The Fresh Market, Zoë’s Kitchen, East Hampton Sandwich Co., and Silver Fox. In addition, Trademark completed WestBend 2, a new 81,150-sq.-ft. building that includes The Fresh Market on the ground floor and 57,000 sq. ft. of new Class A office space directly above, overlooking the Trinity River. In total, WestBend includes 278,000 sq. ft. of retail, dining and office space, including the existing River Plaza office building.



WestBend’s redevelopment is designed to align with the principles of Trademark’s Conscious Place initiative, a stakeholder-driven development model that aims to ensure that its properties are more than just places of commerce, but also places of community and meaning. In support of this initiative, Trademark is incorporating features and amenities designed to educate, inspire and engage all patrons, including a public art program with works commissioned by local artists, Trinity River and Trinity Trails integration, bike racks, upgraded landscaping, valet, free structured parking, and generous outdoor seating areas on the Trinity River and Trinity Trails.


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