Monday, April 14, 2014

NewQuest plans major redevelopment of Carrollton Town Center

Submitted art
New Quest Properties has purchased Carrollton Town Center and plans to begin a major redevelopment on the shopping center.
Staff Writer-Dallas Business Journal
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Houston-based NewQuest Properties has bought Carrollton Town Center and plans to redevelop the shopping center at the southeast corner of President George Bush Turnpike and Old Denton Road.
Terms of the property sale were undisclosed.
NewQuest plans a major redevelopment of the existing 154,000-square-foot retail center, which will soon be anchored by a new 50,000-square-foot Asian gourmet grocery store, 99 Ranch Market.

The redevelopment will feature significant common-area features and contemporary storefront upgrades.
Dallas-Fort Worth retail construction has been focused on grocer-anchored projects, asgrocery chains expand their presence in North Texas. Retail property leasing has reached decade-high levels of occupancy rates, which will spur infill retail construction.

Eric Deuillet of Structure Commercial brokered the deal between NewQuest and the seller, Trinity/Denton II Ltd.

For a look at NewQuest's redevelopment plans, check out our attached slideshow.