Centergy to Develop 90,000 SF Retail Project in Frisco, Texas

FRISCO, TEXAS — Locally based firm Centergy Retail will develop Lexington Village, a 90,000-square-foot retail project that will be located on the northern outskirts of Dallas in Frisco. Grocer Tom Thumb has committed to anchoring the center with a 58,000-square-foot store that will include a pharmacy and a coffee bar. The store, which is scheduled to open in spring 2024, will be located within a larger, 600-acre master-planned development that will ultimately feature about 4,700 single-family and multifamily residences. Bobby Weinberg and Mason Brower of Northmarq arranged a $25.4 million construction loan through an undisclosed bank on behalf of Centergy Retail. The financing was structured with a five-year term with three years of interest-only payments followed by a 25-year amortization schedule.