2015 was a very productive year for Bright Realty, with major developments in commercial, residential, office and multi-family projects. Big announcements in the retail arena include a new Starbucks, which Bright Realty will develop at their retail center adjacent to Nebraska Furniture Mart. With a target completion date in the fourth quarter of 2016, Starbucks joins other big name tenants there such as a Potbelly Sandwich Shop and Culvers (both now open) as well as Unser Racing and Public Storage. In addition, Bright Realty brokers closed numerous deals all over North Texas as landlord and tenant reps for clients such as Orange Theory Fitness, Pure Plates, Mathnasium, Crickett Wireless, Kolache Factory, Halloween City, Anytime Fitness, WingStop, Spirit Halloween and more.
Progress on Bright Realtys multi-family project Discovery at The Realm, near State Highway 121 and Castle Hills Drive, continues to be on track with delivery in April 2016. A topping out ceremony took place December 17 on the first phase of the luxury product, with more than 4,000 units projected at build-out. Bright Realty will begin pre-leasing Discovery at The Realm in January 2016 with move-ins starting in April 2016. The website for the property went live this summer. (for hyperlink: http://www.discoverycastlehills.com/ )
Progress continues in office development on Crown Centre at Castle Hills, a billion dollar office park located on State Highway 121 and Business 121. The infrastructure on the development is complete and Bright Realty is marketing Crown Centres pad sites for Class A office for sale or build to suit. The corporate campus will bring more than 3 million-square-feet of Class A office and retail space to the area.
Single-family residential growth in Bright Realtys master-planned community Castle Hills continues to be strong, especially with the number of corporate relocations to the area. More than 270 home sites were delivered to the community by Bright Realty in 2015, bringing the total number of lots there to just under 4,000.
The popular Castle Hills Village Shops received great publicity with the opening of a new restaurant concept that is drawing foodies from all over DFW. T.B.D. Kitchen received great reviews for its cocktails and street tacos just a few weeks after opening. The Village Shops will expand into its fifth phase in 2016, breaking ground late in the year, adding approximately 8,500-square-feet of ground floor retail and 18 multi-family units above the retail.
Bright Realty continued its community involvement with a sponsorship of the 16th hole at the annual Commercial Real Estate for Women (CREW) Dallas Golf Classic, which benefits local women and girls, and the Independence Elementary PTA Fall Run.
2015 was a great year for Bright Realty and especially our development projects in and around Castle Hills and State Hwy 121, said Eric Stanley, Bright Realty president and COO. We are looking forward to another year of outstanding growth and anticipate 2016 bringing even more success.
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