Trademark to begin construction on center outside Houston
Trademark Property Company and its partner MetLife Investment Management have secured financing to begin the construction of Dunham Pointe, a retail and restaurant district in Cypress, Texas, about 30 miles north of Houston off U.S. Route 290.
The 202,000-sq.-ft. center will be anchored by Whole Foods Market, and leases have been signed by more than a dozen other tenants that include Nordstrom Rack, Shake Shack, Fidelity, Milkshake Factory and Texas Country Boots.
Active lease negotiations are in the works with 12 more tenants that will inhabit 65,000 square feet at Dunham Pointe. Ten more retailers have signed letters of intents to join the project.
“Starting construction is a major milestone for us and for Dunham Pointe. We are seeing the start of a new retail development cycle after one of the longest downturns in history,” said Terry Montesi, CEO and founder of Trademark. “With record-low national retail vacancy and construction starts, the market is genuinely undersupplied, and developers and investors are starting to respond.”
Located at the intersection of 290 and Mason Road in the heart of Cypress, an affluent area experiencing fast-paced growth, Dunham Pointe will be part of the 1,300-acre Dunham Pointe master-planned community. Since debuting in 2021, Dunham Pointe has recorded more than 1,000 new-home sales.
“The pace of home sales has created the critical mass to support that next phase of development, and Trademark recognized the opportunity,” said Cary Dunham, executive vice president of Dunham Pointe Development. “Their investment is an important milestone in making Dunham Pointe the complete community we envisioned.”
Dunham Pointe is one of three Texas-based project groundbreakings from Trademark this summer. Construction began at Anthem, a redevelopment of the 43-year-old Lincoln Square shopping center in Arlington in August, and Shivers Farm, a 40-acre mixed-use community anchored by Whole Foods Market in Southlake, will break ground on Sept. 23.
Together, the three developments represent 721,000 square feet of new or refreshed retail space.
Dunham Pointe will join Trademark’s portfolio of Houston-area properties, which includes Market Street - The Woodlands. Trademark also developed the H-E-B-anchored Royal Oaks Village shopping center on Houston’s Westheimer Road and, from 2014 to 2019, redeveloped, leased and managed the Rice Village assets owned by Rice Management Company.
“We’re bringing Dunham Pointe to Cypress in the midst of an exponential growth period, and the demand is definitely there,” said Trademark’s VP of development Blake Bickmore. “We’re focused on curating an unparalleled mix of shopping, dining and entertainment, and leasing activity has been extremely strong.”
