Construction is underway on a Chase Bank and Firestone store in NewQuest Properties' Lantana Town Center, the new bull's eye for retail and restaurant growth in an upscale Denton County town.

The 3,558-sf Chase Bank will deliver in late summer. The 7,800-sf Firestone store will come on line at year's end. Lantana Town Center, designed for 241,550 sf, is located at the junction of FM 407 and Jeter Road in Bartonville.

With phase I now 90% leased, NewQuest has pushed ahead on phase II, where a 15,000-sf building is nearing completion. Its signed tenants, Great Clips, Casa Mia Mexican Restaurant and a nail salon, are planning summer openings.

Houston-based NewQuest began construction on Lantana Town Center in 2014 after purchasing 34.1 acres along FM 407, an east-west artery linking south central Denton County to Interstates 35 E and 35 W. A 113,531-sf Kroger Marketplace is the project's anchor attraction. The nearly built-out Phase I has three pad sites, one of which is available, and 42,000 sf of NewQuest-developed retail. The second phase has eight acres remaining for additional development.

"We were drawn to Bartonville's demographics. There was a huge void in this area for basic neighborhood services and restaurants," says Josh Friedlander, a NewQuest associate at the helm of Lantana's leasing success, "and, a strong need for a new grocer in the neighborhood."

The three-mile trade area provides the most telling statistics – a population of roughly 71,500 people with an average household income of $175,592 per year. The median age is just shy of 40 years old, an overwhelming majority of whom are college graduates.

"Lantana Town Center is the newest and largest project in the area. Customers from 15 to 20 minutes away are stopping here to shop and dine because of the tenant mix and proximity to their homes," Friedlander says.

Chase Bank is developing its branch on a 0.97-acre pad site fronting Jeter Road, with Texas-based Ridgemont Commercial Construction as the general contractor. Firestone, which signed its lease in late 2017, is under construction on a 0.84-acre pad site. Both are 20-year ground leases. Eddie Liebman and Matthew Rosenfeld of Weitzman represented Chase Bank, with Friedlander acting on NewQuest's behalf.

NORTH TEXAS LEASE

Chase Bank has ground-leased a 0.97-acre retail pad to develop a 3,558-sf structure in Lantana Town Center, located at the intersection of FM 407 and Jeter Road, Bartonville, from NewQuest Properties. Josh Friedlander of NewQuest Properties represented the landlord. Eddie Liebman and Matthew Rosenfeld of Weitzman represented the tenant.

SOUTH TEXAS LEASES

Valvoline Instant Oil Change has ground-leased a 0.93-acre retail pad to develop a 2,008-sf structure in Marketplace at Ninety-Six, located at the intersection of League City Parkway and Hobbs Road, League City, from NewQuest Properties. Rebecca Le and Heather Nguyen of NewQuest Properties represented the landlord. James Namken and Kyle Knight of Weitzman represented the tenant.

Bath & Body Works has leased 3,600 sf of retail space in Market Square at Eldridge, located at the intersection of Westheimer Road and Eldridge Parkway, Houston, from NewQuest Properties. Josh Friedlander and David K. Meyers of NewQuest Properties represented the landlord. Mike Wheeler of Streetwise Retail Advisors represented the tenant.

Deniel Foot & Ankle Center has leased 1,700 sf of medical office space in Hearthstone Medical Plaza, 15003 FM 529, from SGRE Stone Center Ltd. Sam Seligmann and Rachael Keener of NewQuest Properties represented the tenant. Chris Dray of NewQuest properties represented the landlord.