Dallas based real estate developers Roger Gault of Gault Company and Robert Gunby with RTG Capital LLC along with Shane Shoulders broke ground this month for phase II of Willow Bend Commons located at 1855 Dallas Parkway in Plano. The 6,000 square feet building is already 70% pre-leased and it is anticipated to be fully leased within the next 60 days. Completion is planned for October of this year.
The partners purchased 5.2 acres from Costco for the development which is on the west side of the tollway, south of Park. Phase I is a 14,000 square foot retail center that was 100% leased before construction completion at the end of 2014. The first tenants opened for business in late February. Torchy’s Tacos, Shell Shack, Jersey Mikes, and Salada are the lead tenants for the center.
In addition to the retail center, one pad site was sold to Randolph-Brooks Federal Credit Union, whose facility recently opened.
“This is an outstanding retail location and the brisk pre-leasing activity validates our confidence in this deal,” Gault said.
In addition to this new development project, the partners recently acquired a site in The Colony near Nebraska Furniture Mart. They will soon be breaking ground on a 20,000 SF retail center which has already been significantly pre-leased.