9-6-2013: TRC Breaks Ground on 700,000 SF Village at Cumberland Park in Tyler, Texas
The Retail Connection, L.P. and Connected Development Services, L.L.P. to Break Ground on 700,000 Square Foot Shopping Center in Tyler, Texas
The Retail Connection will break ground Tuesday, September 17th at 10 a.m. on Tyler’s newest shopping destination, The Village at Cumberland Park, a 700,000 square foot shopping center located at the Northeast Quadrant of Broadway Avenue [Hwy. 69] and Loop 49.
Members of The Retail Connection, and its development arm, Connected Development Services, along with partner, The Kroenke Group, will be joined at the ceremony by Barbara R. Bass, Mayor of Tyler, and Mark McDaniel, City Manager, as well as members of the City Council and staff. Architects Hodges & Associates and Contractor Hill & Wilkinson, along with the land seller, Bob Garrett, will be recognized at the ceremonial event.
The Village at Cumberland Park will be built on nearly 80 acres and will have 12 main buildings consisting of a combination of retailers, restaurants, entertainment and service users. It will also include a central park with a playground. The center will project a vibrant, family atmosphere where people can go to shop, play, dine and be entertained all in one destination. The center will provide unparalleled shopping to Tyler and the over 600,000 residents who live and work in the surrounding trade area.
“Tyler’s consistent economic growth has opened up the opportunity to bring additional retailers to Tyler and the newly constructed Loop 49 was a key factor in the decision to locate the development here,” said David Wilson, President of The Retail Connection’s development arm, Connected Development Services. “The loop will change traffic patterns in Tyler and allow this location to become a major retail hub for the entire trade area,” he stated.
Many high profile national credit tenants and household retail brands have already committed to the center including: Bed, Bath and Beyond [to relocate its current store and include their BuyBuy Baby brand], Cost Plus World Market, Joann’s, PETCO, Shenaniganz, [family entertainment and restaurant], DSW, Gordman’s, Studio Movie Grill, TJ Maxx, Ross [an additional store], Dress Barn, Kirklands, Lane Bryant, Famous Footwear, Carters, Osh Kosh, and many more including a variety of service-related retailers.
“We are excited to be making our first high profile investment in the Tyler market,” said Alan Shor, President of The Retail Connection. “This project is in a one-of-a-kind location, and the finished product will be a great shopping option for the surrounding community. The project offers outstanding visibility for its tenants and convenient access to the customers,” Shor stated.
Strategically, The Retail Connection wanted to create a shopping and entertainment destination with a Main Street feel, along with a central park surrounded by the country’s top retail brands, many dining options, and personal services that would appeal to everyone. People coming in from other area cities and towns can have lunch, spend time shopping, catch a movie, enjoy a number of entertainment venues and have dinner, all in one trip.
“As always, our retail clients have been actively and invaluably engaged with our incredible team in this collaborative effort. Everything from catalyst, to design, to the merchandising mix,” said Steve Lieberman, CEO of The Retail Connection. The project will ultimately accommodate approximately 90 retailers, most of them new to the Tyler market, generating over $200,000,000 dollars in annual sales, over $3MM dollars of incremental sales taxes annually, and create over 2,000 new jobs for the City of Tyler,” adds Lieberman.
About The Retail Connection
Founded in 2003, The Retail Connection has seen rapid growth in its full service platform of real estate services, with some of the most successful retailers in the country as its clients and partners. The Retail Connection provides national advisory, tenant representation, project leasing, general brokerage and investment sales, expansion strategy, merchandising plans, property management, construction management, asset management and corporate services, as well as acquisition, development, merchant banking and strategic capital services. The Retail Connection currently represents over 240 retail and restaurant chains and over 25 million square feet of listings, including approximately 2.8 million of its own projects. The company is headquartered in Dallas, with offices in Austin, Houston and San Antonio.