la Frontera In the News

Globest.com

May 14, 2002

Trademark Options La Frontera Acreage

by Tim Green

ROUND ROCK, TX-Trademark, a Fort Worth-based mixed-use and retail developer, is headed for the La Frontera development in Round Rock. The company has agreed to buy up to 60 acres in the southwest corner of the development for a mixed-use project anchored by retail. The seller is 35/45 La Frontera LP.

Called the Commons at La Frontera, the development's tenant mix will be a response to market conditions. Trademark will survey area residents and conduct market research before plans are finalized. Terry Montesi, Trademark's president and CEO, said the mix could include big box retail, grocery, restaurant, smaller retail or even smaller office loft-style multifamily. "We're just now going under contract," Montesi tells GlobeSt.com, so details have still to be determined. He says the Commons could have 300,000 sf to 400,000 sf of retail, 50,000 sf to 80,000 sf of office and a few hundred multifamily units.

The project could bring a new element to the North Austin-Round Rock-Pflugerville area, according to Montesi. "There currently is not a pedestrian-friendly development, offering people a place to shop, dine and walk to work," he said. "It is possible that a portion of this development could fill that need."

This is Trademark's first Central Texas project. "It's a very fast-growing area, one of the fastest in the state," he says. "Austin, long-term, is an outstanding market." He adds that a number of retailers are not represented in the North Austin-Round Rock area despite the quick growth.

Trademark has hired Nelsen Architects of Austin to draw project plans. Leasing is being handled by Rodger Anderson of United Commercial Realty and Trademark's Susan Ridley and Fremon Baker.

Trademark is developing a similar project, the 400,000-sf Market Street development, at the Woodlands north of Houston. That project is to open in the second half of 2003.

The fast-developing La Frontera has 300,000 sf in completed office buildings, an 800-room Marriott Hotel, 1,000 multifamily units and about 850,000 sf of retail.

Trademark, founded by Montesi in 1992, has participated in the development and acquisition of retail, office and light industrial properties valued at more than $500 million with more than $100 million of equity invested. These properties represent more than 4.5 million sf of improved space and 700 acres of land.