August 10, 2015

High-Profile Retail Centers Offer Strategic Locations

Southwest Crossing, a 600,000-square-foot power center in the high-growth area of Fort Worth, Texas, features a number of national, "big box" retailers.

Site development is underway at Gallina Centro, a 400,000-square-foot shopping center on the common border between Germantown and Collierville. This high-profile shopping center is part of a comprehensive, 95-acre multi-use development at the southwest corner of Poplar Avenue and Houston Levee Road, with Winchester Road bordering on the south. Anchor tenants at Gallina Centro include Kroger, Stein Mart, and Walgreens.

"We anticipate an opening in the first or second quarter of 2001 for Gallina Centro," says Cary Whitehead III, senior vice president of Boyle. "With frontage on three major roads, Gallina Centro is easily accessible from both Germantown and Collierville. The new center is extremely convenient for employees at the new FedEx campus and Baptist Hospital – Collierville."

Other Boyle retail activity in Memphis includes the sale of a number of sites to a wide variety of retailers, including a 17-acre site to Costco at I-40 and Germantown Parkway, a 19 acre site to Kmart at Germantown Parkway and Cordova Road, and one- and five-acre sites to Office Depot and Walgreens at Germantown Parkway and Wolf River Boulevard. Boyle also has sold several retail sites at Schilling Farms in Collierville, including sites to National Bank of Commerce, IHOP, and Fazoli’s Italian Restaurant.

Boyle also has completed the development of Southwest Crossing, a 600,000-square-foot shopping center in the high-growth area of southwest Fort Worth, Texas. Southwest Crossing includes a number of national retailers including Lowe’s, Best Buy, Kohl’s, Garden Ridge, Comp USA, and Kinko’s.

"Southwest Crossing is the second retail power center that Boyle has developed recently in Texas," says Whitehead. Boyle’s first venture in the Metroplex was the highly successful Preston Shepard Place, a 370,000-square-foot center in west Plano. "That center is anchored by prominent, national tenants including Borders Books & Music, Stein Mart, Old Navy, Office Depot, and Petco. The development was sold to Prudential Insurance Company upon completion."

"Big-box tenants exhibited a tremendous interest in the Southwest Crossing project due to the area’s demographics and growth, the project’s proximity to Hulen Mall, and the center’s accessibility to the larger regional market," explains Whitehead.

Boyle acquired the Fort Worth property for Southwest Crossing in conjunction with Milton T. Schaeffer of Memphis and George Allen of Dallas, both of whom also were joint-venture partners in the Preston Shepard Place development.