| Popular retail development opens new chapter |
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Colleyville, Texas…Colleyville is now a border town. Make that a Borders town. The international book and music retailer has opened a Borders flagship store in Colleyville Town Center, at the southeast corner of SH26 and Hall-Johnson Road. The 23,000-square-foot bookstore, along with a Metro Cinema/IMAX theater complex which opened this summer, will anchor the final phase of the development. “This is an exciting addition to Colleyville Town Center. Borders, coupled with a new theater complex, and a variety of restaurants and upscale retail outlets, will provide the discerning customer with an eclectic mix of entertainment and shopping,” stated Charles Hodges, one of the center’s developers. Metro Cinema Group President Bill Baldridge remarked, “Colleyville is acclaimed for its quality of life and commitment to education. The Borders flagship store is a tremendous enhancement to the cultural and educational component of Phase III, which began with the IMAX and Metro Cinema announcements.” Metro Cinema’s boutique theater concept ushers in a new generation of movie entertainment—offering a total cinema experience with the latest Hollywood and independent film releases, and a complete menu of full-service dining and beverage options. Borders offers a vast selection of books, music, movies and more that are tailored specifically to the interests of the community it serves. The new store in Colleyville will provide cozy chairs, a Seattle’s Best Coffee® cafe and self-serve computer stations where customers can look up a particular title and where it is located in the store. Borders Group currently operates approximately 460 Borders stores across America and more than 50 superstores outside the U.S., located primarily in the U.K. and Asia Pacific. Remarking on the fierce competition among cities and developers to attract Borders, Mayor David Kelly said, “Colleyville offers current and potential retailers a much sought-after retail customer base. I don’t think there is any doubt that our enviable demographics and upscale market were critical factors in Borders’ final decision.” A retail study commissioned by the city last year identified Borders as a potential target for the city’s economic development efforts. The study matched Borders and Colleyville due, in part, to the city’s discriminating, sophisticated retail customer base. Colleyville has enjoyed double-digit growth in sales tax revenue in recent years and expects tax receipts from the new superstore to continue that trend. The 45-acre Town Center opened in the summer of 2003. Current tenants include the gourmet grocery chain Market Street, fitness apparel shops, specialty retail, and a satellite facility for Dallas Baptist University. The center also includes Lifetime Fitness, an upscale fitness facility with locations across the U.S. Additional plans for Town Center include nationally recognized restaurants, as well as a mix of apparel stores and smaller eateries. Plans for Phase III include 100,000 square feet of new retail space, adding to the 270,000 square feet already in operation. |
Monday, May 12, 2008
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