IRVING, Texas – November 5, 2014 – Leon Capital Group, a Dallas-based, national real estate developer, has announced that Whole Foods Market® will be the anchor tenant in its new retail development, The Shops at MacArthur Hills, at the intersection of President George Bush Turnpike/SH 161 and North MacArthur Boulevard in Irving.
This will be the first Whole Foods Market in Irving; there are currently 10 stores in the Dallas/Fort Worth area. Austin-based Whole Foods Market is the nation’s leading natural and organic foods supermarket, with 402 stores in the U.S., Canada and United Kingdom.
Leon Capital Group purchased the site in late 2013 with the goal of bringing to Irving this mission-driven company, consistently ranked on Fortune’s “Best Places to Work” list. The site allows for 85,000 square feet of premium retail and restaurant development. “We have known there was a tremendous demand for a grocer of this caliber and reputation,” said Will Tolliver, Managing Director for Leon Capital Group. “This location provides the high visibility of SH 161, the tremendous daily needs traffic along MacArthur Boulevard, and proximity to many of Irving’s most prominent employers. We expect this development to deliver significant value and, ultimately, sales tax revenues for the City of Irving.”
Construction will begin on the 45,000-square-foot store, along with the neighboring retail spaces, this month. Leon Capital Group executives anticipate the completion of the Whole Foods Market shell in the spring of 2015, at which point the company will complete the build-out of the store, with an anticipated opening by Fall 2016. Construction of the other retail stores and pad sites should be completed in May 2015.
“We have seen the success of Whole Foods Market stores in other communities like Highland Village, Colleyville, Plano, and Highland Park,” said Irving Mayor Beth Van Duyne. “This is exactly the type of retailer we envisioned for Irving and one that residents and businesses have repeatedly requested.”
The Greater Irving-Las Colinas Chamber of Commerce and the Las Colinas Association were vital partners in advancing the project, which required changes in zoning of the land in order to proceed.
“This is a significant retail ‘win’ for Irving,” said Beth Bowman, president/CEO of the Greater Irving-Las Colinas Chamber of Commerce. “The Whole Foods Market will complement all of the other grocer options in Irving and is a prime example of the positive economic growth we’re seeing with the construction of the Irving Music Factory, Water Street project and new housing developments.”
Preliminary construction activity is already underway on the 12-acre site; Leon Capital Group and its project partners will hold an official groundbreaking for the development on Thursday, November 13.
“We are excited to open a store in Las Colinas and be a part of this thriving community,” said Mark Dixon, President/Southwest Region of Whole Foods Market. “The site is highly desirable due to its central location between Fort Worth and Dallas and is a perfect fit for Whole Foods Market.”
About Leon Capital Group
Leon Capital is one of the most active and versatile real estate market participants today, and is an international concern with investments in the United States, Latin America, and Europe. Its diverse portfolio includes assets in excess of $2 billion across multiple product types, including retail, office, multifamily, industrial, and debt financing. The company manages capital for ultra-high net worth family offices across the globe, with a focus on acquiring and developing value-added real estate. For more information, please go to www.leoncapitalgroup.com.
Karen Berlin Cooperstein
Whole Foods Market