Kroger Continues To 'Prosper'
Rosebriar Properties had some celebrating to do over the long weekend. On Friday, Rosebriar sold the last of two anchor tracts in Prosper Plaza to Kroger Texas. The grocery giant (and we mean giant) will build its 123k SF Marketplace store with plenty of room for one of those delicious cheese bars.
In addition to a Kroger, the $45M development will include a Lowe's Home Improvement Center, plus all your basic food essentials with a Taco Bueno, Burger King and Popeye's Louisiana Kitchen. Rosebriar managing director Ryan Stewart (above with his sons) tells us they have strong interest from other national retailers and plan to fill the remaining space with one or two more restaurants and neighborhood service tenants that would open in early 2017.
"Prosper is absolutely on fire right now," Ryan tells us. "A Kroger and Lowe's provide a critical mass of large national anchors that further defines this corner as a destination for shoppers in this submarket. This corner will be serving an even larger trade area now, and will provide a convenient, synergistic shopping experience."
Ryan and Rosebriar's Bill Hanks negotiated the sale with United Commercial Development's Robert Dorazil. The first building is 8,500 SF and was 100% pre-leased to include a now-open Starbucks, Sherwin Williams, UPS Store and T-Mobile.
Prosper is, as its name suggests, prospering like crazy thanks to a good school district, affluent population and (something that's becoming increasingly rare in North Texas) room to grow. This will be the third Kroger in Prosper, which has a population of just under 20,000.