Monday, June 29, 2015

Developers to begin next phase of Frisco's The Shops at Starwood

Houston-based Whitestone REIT (NYSE: WSR) plans to begin its next phase of The Shops at Starwood in Frisco this week, which will add about 24,000 square feet of restaurant and retail space and 8,600 square feet of office space to the mixed-use development.
This brings new space to a development, which is already 100 percent leased with tenants such as Smashburger, TruFire Kitchen & Bar and Kotta Sushi Lounge.
The real estate investment trust plans to break ground on its third phase of development for the shops on Friday morning. Whitestone REIT acquired the property four years ago because the group say the tremendous growth potential of the Frisco area.   
"Our prediction has proven to be right, and with the expansion of The Shops at Starwood, we can better serve the growing community and further contribute to the economic development of Frisco," said Chairman and CEO James Mastandrea, in a prepared statement.
"The Phase III development will give us a competitive leasing advantage in an expanding marketplace," he added.
The Shops at Starwood sits along the Dallas North Tollway in close proximity to the new Dallas Cowboys' headquarters and practice facility, which is beginning to take shape in Frisco.
Byrne Construction Services is the general contractor on the Shops project. Selzer Associates is the project architects. Construction is slated for completion in the first quarter of 2016.  
Candace Carlisle/ Dallas Morning News