For people who never venture up to Cedar Park about 30 minutes north of Austin, they might be surprised to learn that one of the largest retail developments in the area recently opened, adding 400,000 square feet of much-needed shops and restaurants to one of the area's fastest-growing suburbs.
That's almost half the size of Lakeline Mall.
Sixteen retailers have opened at The Parke, located on a 42-acre parcel on the west side of the U.S. 183A toll road just south of the HEB Center at Cedar Park arena.
The largest tenant is Dicks Sporting Goods Inc. (NYSE: DKS) and its affiliated Field & Stream store with about 90,000 square feet combined. The Parke also includes the first Austin-area 365 by Whole Foods Market store, the new smaller, tech-heavy spinoff by the organic grocery giant, and Nordstrom Rack. They each occupy about 30,000 square feet.
At 400,000 square feet, The Parke is similar in size to major retail hubs such as Capital Plaza Shopping Center near I-35 and Koenig Lane, and Hancock Center at Red River and 41st streets — check out a full list below of the region's largest shopping centers.
Only about 12,000 square feet of retail space remains to be leased at The Parke — about 5 percent of the total project, which is being delivered through the end of the year.
As I recently reported, retail vacancies are at historic lows across the region at just under 4 percent.
New retail construction has largely been limited to grocery store-anchored centers with a couple of exceptions — Domain Northside and The Parke, both developed by Austin-based Endeavor Real Estate Group.
Domain Northside, a chic boutique-styled development of about 625,000 square feet, has been a big draw at the 305-acre Domain mixed-use development near Braker Lane and North MoPac Expressway. Domain Northside has featured stores that are completely new to Austin — as compared to the adjacent The Domain regional mall anchored primarily by big national brands that can be found elsewhere in town. Domain Northside has also offered an opportunity for local Austin retailers to expand.
The Parke, however, is a more traditional power center featuring mostly national brands.
Here are some of the other tenants at the center:
- Marshalls Inc., 21,500 square feet
- Michaels Stores Inc., 21,000 square feet
- Shoe seller DSW Inc., 18,299 square feet
- Old Navy, 12,750 square feet
- Petco Animal Supplies Inc., 12,500 square feet
- Ulta Salon, Cosmetics & Fragrance Inc., 10,000 square feet
- Tex-Mex restaurant chain Chuy’s Holdings Inc., 6,600 square feet
- Twin Liquors, 4,000 square feet
- Mattress Firm, 4,000 square feet
- Palm Beach Tan, 2,500 square feet
- Sprint Corp., 2,220 square feet
- Starbucks Corp., 2,000 square feet
Michele Gary and Dan Frey with Endeavor are handling the leasing.
The stores yet to open are:
- BuyBuy Baby
- Cost Plus World Market
- Tuesday Morning
- Orangetheory Fitness
- Potbelly Sandwich Works
- Red Robin Gourmet Burger & Brews
- Quick Weightloss Centers
- Walden Dental
- Pro Nails & Spa
- Massage Heights
- Freebirds World Burrito
- Fantastic Sams
- F21 Red, a new concept from Forever 21
- CareNow Urgent Care
- Beverly Hills Rejuvenation
- Amplify Credit Union