Trademark Property Co. will work with retail, design, real estate, and development experts, along with city and community leaders, to develop a plan for one of Dallas’ most iconic shopping spots.
UBS Asset Management, which owns the Galleria Dallas, has hired Fort Worth-based Trademark to manage, lease and evolve the 1.4-million-square-foot development.
The Galleria is the “gateway” to the planned Midtown project, which is slated to bring 450 acres of new office, multifamily, retail and entertainment developments, as well as a city-programmed park. While apartments and office space are planned for the development, most construction has stalled due to disagreements over zoning and public sector initiatives.
Planning for the Galleria and surrounding property will begin immediately, UBS said in a news release, and will use feedback on what the future of the property should look like. Trademark will work with UBS to create a strategic plan and develop initiatives based on market and customer research, best practices and innovations in retail.
“We see enormous potential in Galleria Dallas as a true destination-worthy mixed-use district and gathering place for North Texas,” Trademark CEO Terry Montesi said in a prepared statement. “People expect more from mixed-use places today than ever before. We intend to consider every option as we evaluate how best to evolve Galleria Dallas – from the addition of other uses, improved service and experience, to added technology, destination-worthy common areas, and a thoughtful collection of best-in-class retail and restaurants. It’s about identifying strategies that fit the changing role of brick and mortar retail and mixed-use places in customers’ lives.”
Trademark has also worked on developments like Dallas’ Victory Park and Fort Worth’s WestBend.
North Texas Commercial Real Estate Developers
Ranked by Local Commercial Space Developed in 2016 (in sq. feet)
Rank Business name Local Commercial Space Developed in 2016 (in sq. feet) 1 KDC Real Estate Development & Investments 4.25 million 2 Trammell Crow Co. 3.90 million 3 Hillwood 3.10 million View This List