WHOLE FOODS MARKET® TO ANCHOR CITYLINE DEVELOPMENT IN RICHARDSON
Specialty grocer is the first retail tenant announced for CityLine
RICHARDSON, Texas – August 7, 2014 – KDC, one of America’s leading commercial real estate development and investment firms, today announced that Regency Centers will build a 40,000-square-foot store for Whole Foods Market in its CityLine Market development at KDC’s 186-acre mixed-use CityLine project in Richardson, Texas.
“We are excited to have Whole Foods Market as our grocer and enthusiastic about how this offering will enhance the CityLine experience for its residents, office workers, and visitors,” said KDC’s Walt Mountford. “Whole Foods’ healthy offerings underscore what CityLine will be: a walkable and livable environment showcasing an ease of lifestyle with parks and trails situated amid businesses, residents and entertainment.”
Whole Foods Market will anchor the initial 81,000-square-foot phase of Regency Centers’ CityLine Market, a retail center located on 11.3 acres at the intersection of Renner Road and Plano Road.
“Regency Centers has a strong and successful history working with specialty grocers,” said Matthew Booth, vice president, Regency Centers. “Upon completion, Whole Foods will bring a best-in-class merchandising mix to a vibrant and powerful development.”
Whole Foods at CityLine is slated to open in Spring 2016. “We were attracted to the vibrancy of the urban environment of CityLine, literally on the border of Richardson and Plano,” said Mark Dixon, Southwest Regional President of Whole Foods Market. “The green spaces and parks round out the project for a more tranquil feel within such a busy intersection.”
“We’re thrilled that Whole Foods Market, an outstanding, Texas-based grocer, is coming to Richardson to offer residents and other nearby neighbors even more choice,” said Richardson Mayor Laura Maczka. “The addition of Whole Foods to the CityLine project demonstrates the strength of this exciting new mixed-use development, and we look forward to future announcements of premier retailers and restaurants.”
In July 2013, KDC broke ground on the 186-acre mixed-use CityLine development in Richardson and announced that State Farm will lease 2 million square feet in four office towers at the development. KDC also is developing a 489,000-square-foot office complex for Raytheon.
CityLine features dense urban development set in a comfortable environment with easy access to office, residential, retail, entertainment and parks. The $600 million, 2.3 million-square-foot initial phase of CityLine construction is slated for completion in late 2015. It includes a contemporary 150-room select service hotel; 935 apartment units; an 18,000-square-foot wellness and fitness facility; a 41,000-square-foot medical office building; and a 3.5-acre park with trails.
CityLine Plaza, a centrally located urban plaza designed by Office of James Burnett, will be the focal point of the first phase of development. More than 92,000 square feet of retail, restaurant and entertainment options will be integrated into the base of the office towers, the multi-family residential, and the hotel. It will frame the CityLine Plaza and create a high energy environment.
By September 2015, CityLine is expected to have a daytime population of 10,000 people. At full build-out, the $1.5 billion CityLine project will contain approximately six million square feet of office space, two hotels, 3,925 multi-family residential units, 300,000 square feet of grocery, restaurant, entertainment and retail space, and three parks.
KDC, one of America’s leading commercial real estate and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Atlanta, Austin, Texas; Charlotte, N.C.; and Houston. For more information, visit kdc.com.
About Regency Centers
With more than 50 years of experience, Regency is the preeminent national owner, operator and developer of high-quality, grocery-anchored neighborhood and community shopping centers. The company’s portfolio of 332 retail properties encompasses over 43.9 million square feet located in top markets throughout the United States, including co-investment partnerships. Regency, a market leader in sustainability, has developed 215 shopping centers since 2000, representing an investment at completion of more than $3 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.