Tuscon, AZ-based Bourn Partners, a southwest developer, owner and manager with a portfolio exceeding 2.4 million square feet, announced a new retail development in Georgetown, TX that will become part of Longhorn Junction, a 350-acre master-planned, mixed-use development.
Bourn's retail development will be built atop 70 acres located at the intersection of IH 35 and Inner Loop in Georgetown. Bourn is banking on the inclusion of family attractions and entertainment venues, as well as retailers and restaurants exclusive to the market will create a retail destination, drawing visitors from an 100-mile radius.
With an 800,000- to 1 million-square-foot size, the retail project is expected to break ground in 2009, along with other components of the master plan. Citicorp is building a $450 million, 250,000-square-foot data center, expected to be complete very soon.
Bourn is working in conjunction with destination developer OTB on the project.
This article appears in "CoStar's Retail News Roundup: Dec. 16 to Dec. 23, 2007," a weekly feature written by CoStar News Senior Editor Sasha M. Pardy. This issue of the Roundup includes expansions and new concepts at Aldi, Famous Footwear, Gamestop, JoS A. Bank, and Costco; new retail developments in IL, TX, FL, MI, and CA; acquisition, merger, or sale activity at Related Cos., Reza Investment Group, Sears and Restoration Hardware, Marsh Supermarkets, Cole Companies and Retail Ventures; store closings at Krispy Kreme; sustainability efforts at Forest City and Sears; Personnel announcements at Retail Brokers Inc. and KeyPoint; and the passing of an industry veteran.