THE WOODLANDS – (Realty News Report) – When Terry Montesi was starting the Market Street development in The Woodlands over 20 years ago he envisioned something special.
The Market Street – The Woodlands wasn’t going to be a power center project or just a collection of big retail boxes in a sea of black asphalt.
No, said Montesi, founder and CEO of Fort Worth-based Trademark Property Company, a developer of retail, mixed-use and multifamily. The Woodlands was ready for something different.
This site was in The Woodlands, a 28,000-acre master planned community 27 miles north of downtown Houston. This site was across from Cynthia Woods Mitchell Pavilion where Frank Sinatra, ZZ Top and the Moody Blues have graced the staged.
The Woodlands, started by developer George Mitchell 50 years ago and continuing today by Howard Hughes Holdings was a top-seller of newly built homes and steady workplace growth and office buildings.
This site could be more.
Montesi wanted Market Street- The Woodlands to become a walkable, suburban town center that blends shopping, dining, and entertainment with office and hotel spaces.
The property marked a stark departure from the traditional indoor and outdoor retail-only developments preceding it, serving as an early example for other vibrant mixed-use destinations across the country. Now celebrating its 20th anniversary, Market Street remains one of the nation’s top performing outdoor retail collections, driven by continuous innovation and enduring appeal.
When Trademark debuted Market Street in 2004, Montesi wanted the development to become a mixed-use destination that would create a sense of place and community with a personality unique to The Woodlands that felt as if it had evolved organically over time.
Today, Market Street’s retailers generate some of the highest sales per square foot of any suburban retail asset in the country, featuring brands such as Tiffany & Co., Louis Vuitton, Yves Saint Laurent, Gucci, Jo Malone, and Lululemon as well as restaurants including Sixty Vines, True Food Kitchen, Mastro’s Ocean Club, Bosscat, and Sweet Paris.
“Really great mixed-use town centers are committed to meeting the ever-changing needs of their market and give the surrounding community a sense of ownership,” said Montesi. “If you listen to the community, find out what it needs, and provide an experience that exceeds expectations and is always evolving, the project will become the heart and soul of the region, just as Market Street has done for The Woodlands.”
Trademark added elements such as the Central Park, pop fountains, public art, valet, and a concierge to create an environment where people feel well-served and choose to stay longer — it is an experience reminiscent of main streets of decades ago, Trademark says.
Today, Market Street consists of almost 400,000 SF of retail, including a mix of first-to-market brands, 15 restaurants, an upscale cinema, and a high-end, one-of-a-kind H-E-B grocery store; 115,000 SF of office space; and a 70-room Hyatt Centric hotel.
And newer, better and bolder tenants are being added constantly.
In 2024, Market Street debuted Austin-based outdoor gear brand YETI, with Golden Goose, LUSH, Oliver Peoples, TUMI, and Thomas Markle are relocating to new spaces on the property. Additionally, Market Street is welcoming Hugo Boss and Alo.
Trademark Property Company manages the project, including development, leasing, and property management service at Market Street, which is owned by a joint venture between an affiliate of Trademark Property Company and Institutional Mall Investors.
In West Houston, Trademark was recently retained to lease LaCenterra at Cinco Ranch, a 412,900-SF open-air retail center located along the Grand Parkway. LaCenterra, developed by Woody Mann of Vista Cos., was one of the first retail developments to leverage the outer suburb opportunities presented by the Grand Parkway, a 184-mile outer loop that is still under development in suburban and exurban fringes of the Houston area..
In Dallas, Trademark is involved in the major redevelopment of the Galleria Dallas, a major mixed-use project patterned after Hines’ original Galleria in Houston.
Dec. 30, 2024 Realty News Report Copyright 2024
Image: Courtesy Trademark Property Company
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