What's Happening?
Trademark Property Company and Harrison Street Asset Management have announced a joint investment in Shivers Farm, a 40-acre mixed-use community located in Southlake, Texas. This development will be anchored by a Whole Foods Market, marking its first
location in the community. Construction is slated to begin this month, with a groundbreaking ceremony scheduled for the coming weeks. The project is designed to introduce a new blend of retail, dining, office spaces, and public gathering areas to Southlake. This investment expands the existing relationship between Trademark and Harrison Street, who previously formed a joint venture for Anthem, a 403,000-square-foot redevelopment in North Arlington that commenced construction on August 3. Terry Montesi, CEO and Founder of Trademark, noted a resurgence in retail development nationwide, with three of their projects breaking ground this summer. Shivers Farm is highlighted as one of Southlake’s most significant commercial developments in recent history.
Why It's Important?
This investment signifies a robust resurgence in retail and mixed-use development across the U.S., particularly in affluent communities like Southlake, Texas. The project's focus on integrating a Whole Foods Market as an anchor tenant underscores the continued demand for high-quality grocery options within mixed-use developments, which often serve as community hubs. For Southlake, Shivers Farm represents the first major grocery destination north of SH 114, addressing a significant market need and potentially altering local shopping patterns. The inclusion of 111,000 square feet of retail, 38,000 square feet of Class A boutique office space, 37 single-family lots, and a 3-acre pad for potential hotel or entertainment uses indicates a comprehensive approach to urban planning that aims to create a vibrant, walkable destination. This development will likely boost local employment, increase property values, and enhance the overall lifestyle offerings for residents, while also attracting new businesses and visitors to the area.
What's Next?
Construction on Shivers Farm is expected to commence this month, with a groundbreaking ceremony planned in the near future. Trademark Property Company is actively finalizing the design for the three-story, Class-A boutique office portion of the project, which aims to set new standards for amenities and interiors in the Dallas-Fort Worth area. The company has already secured three leases totaling 40,199 square feet and is in advanced negotiations for an additional 65,000 square feet with various retailers and restaurants. The development partners, including Dwell Design Studio, Ridgemont Construction, and Kimley-Horn, will proceed with the project's execution. The success of Shivers Farm could serve as a model for future mixed-use developments in other affluent U.S. communities, potentially encouraging further investment in similar integrated retail and residential projects. The project's progress will be closely watched by stakeholders interested in the evolving landscape of commercial real estate and community-centric urban planning.
Beyond the Headlines
The Shivers Farm development reflects a broader trend in urban planning and consumer preferences, moving towards integrated, walkable communities that offer a blend of retail, residential, and public spaces. This 'lifestyle-driven design' emphasizes convenience, community engagement, and access to high-quality amenities, such as a nearly one-acre park built around heritage live oak trees and a cluster of restaurants with outdoor seating. The project's farmhouse-inspired architecture and preservation of natural elements suggest a focus on creating a unique sense of place that resonates with local aesthetics and environmental values. This approach goes beyond mere commercial development, aiming to foster a vibrant social environment where residents can gather and create lasting memories. The collaboration between Trademark Property Company and Harrison Street Asset Management highlights the increasing importance of strategic partnerships in executing large-scale, complex mixed-use projects that cater to evolving consumer demands for integrated living and leisure experiences.
