BENBROOK -- Fort Worth-based Buxton Co., which provides customer analytics to the retail industry, is under contract to buy 193 acres at the southeast corner of Interstate 20 and Winscott Road, where it plans a 1.5-million-square-foot regional shopping center called The Trails Town Center.
Buxton Chairman Tom Buxton said Wednesday morning that construction of the new open-air shopping center could begin in about a year, with some stores opening in 2013. The shopping center will stretch at least 1.5 miles along the south side of Interstate 20 and be highly visible from the Chisholm Trail and I-20 highway overpasses now under construction just to the east.
No tenants have been signed, but negotiations are underway with a number of destination and nationally-recognized retailers not already located in the area, Buxton said. Buxton is looking at retailers in the home improvement, electronics, sporting goods, entertainment and grocery sectors. There will also be restaurants.
When completed, the center could employ more than 6,250 workers, and have a potential sales tax revenue of $3.75 million annually and property tax revenues of more than $4.4 million annually, the company said.
This will be Buxton's first development. It previously has advised developers, cities and retailers on site selection.
Buxton said it is "the best opportunity we've seen. This is very big."
The Trails Town Center is expected to draw shoppers from as far away as Abilene, Waco and Midland-Odessa, Buxton said.
The land is part of the Edwards Ranch. The deal with Cassco Land Co. is expected to close in the next year.
Benbrook Mayor Jerry Dittrich said the city has entered into a public-private partnership to help facilitate the mall's development but did not offer details.
"We feel confidant that this partnership lays the groundwork for an exceptional shopping destination," Dittrich said. "A development of this magnitude will serve as a gateway to West Texas. It is the only open-air, regional development of this size projected for the southwest. The city stands ready to work closely with Buxton to expedite this venture."
Read more: http://www.star-telegram.com/2011/07...#ixzz1RdjGbjxS
Comment