Southlake Town Square Gets $60M in Financing for Expansion
- May 13, 2012
Retail Properties of America Inc. has secured $60 million to expand the 840,288-square-foot Southlake Town Square. This represents the fifth phase for the master development, which will add 310,711 square feet to the mixed-use property.
According to Citybizlist.com, Holliday Fenoglio Fowler L.P. arranged a five-year, fixed-rate loan through MetLife Real Estate Investments. The loan is tied to the $90 million loan placed on previous phases.
Southlake Town Square includes a fountain, pond, pavilion and park that provide various public gathering spaces, according to Lakeside DFW.
The entertainment and lifestyle center sits near North Carroll Avenue between S.H. 114 and Southlake Boulevard in Southlake. Comprising mainly retail stores and restaurants, Southlake Town Square has more than 150 tenants, including Harkins Theatre, The Cheesecake Factory, The Container Store, Barnes and Noble, Banana Republic, Brooks Brothers and other national brands. Michael Kors is among the latest tenants to sign on, according to D Magazine.
Meanwhile, DSC Logistics, an Illinois-based logistics firm, has leased a 603,050-square-foot facility in Roanoke. The firm was represented by Lynn Reich in Illinois and Allen Gump in Dallas, both with Colliers International. Eric Rutledge of Cushman & Wakefield of Texas Inc. represented the landlord, 300 Gateway Parkway L.P., according to the Dallas Business Journal.
According to news published in January 2012, DSC Logistics had notified the Texas Workforce Commission of plans to lay off about 130 people permanently from the workforce at its Roanoke warehouse. At that time, the company listed a total of 156 employees at Roanoke, according to the Star Telegram Blog.
Photo credits: Retail Properties of America Inc. (former Inland Western
Retail Real Estate Trust Inc.)