Lucas, the Collin County suburb about 30 miles northeast of downtown Dallas, is about to trade some of its quiet-country vibe for grocery carts and curbside pickup. A new grocery-anchored shopping center planned for the town is already drawing heavy interest from retailers and restaurants, even before the project is finished.
The center is planned at roughly 130,000 square feet in total, built around a roughly 60,000-square-foot Tom Thumb. Plans call for a 25,000-square-foot restaurant village and multiple pad sites, and city and developer officials say it will be Lucas’ first full-service supermarket, along with a major new source of sales tax revenue.
Who’s building it
Developer Malouf Interests bought the 42-acre parcel at the northwest corner of Parker Road and Southview Drive (FM 1378), with financing tied to the retail project, according to loan records reviewed by The Real Deal. Marketing materials from Younger Partners describe a layout that includes a small public park and a cluster of restaurants alongside the grocery anchor.
Leasing scramble
Prospective tenants have wasted little time circling the site. Brokers are reporting unusually brisk demand for a market of Lucas’ size, according to the Dallas Business Journal. The outlet reports that the roughly 60,000-square-foot Tom Thumb is already under construction, and developers say they are fielding calls from regional and national restaurants and service operators all eager to lock in frontage near the grocery.
Why retailers are circling…