WOODMONT COMPANY BEGINS DEVELOPMENT OF PARK VILLAGE

SOUTHLAKE, TEXAS — Real estate firm The Woodmont Company, in partnership with an undisclosed publicly traded REIT, has started development of Park Village, a 190,000-square-foot retail center in Southlake, a suburb approximately 25 miles northeast of Fort Worth. The property, which offers spaces ranging from 800 to 12,000 square feet, is more than 50 percent pre-leased. Sporting goods store REI and a specialty grocer will anchor the center, which will be located at the southwest corner of Carroll Avenue and Southlake Boulevard. Stephen Coslik, Peter Jacobsen and Rick Machak of The Woodmont Company are overseeing development, and Herschman Architects designed the project. Completion is slated for the fall of 2014.