May 21 2015
RED Development today announced its first major retail tenant for The Union Dallas, Tom Thumb, the supermarket chain founded in Dallas in 1948. The Union is a new office, residential and retail project that will total approximately 800,000 square feet. Located at Field Street and Cedar Springs Road, the mixed-use project is a connection point for many of Dallas’ most vibrant business and residential districts including Downtown, Uptown, the Arts District and Victory Park neighborhoods.
RED Development announced the new project in May 2014, and is leading the overall design, development, and construction for The Union. The property’s website, theuniondallas.com, now features full project details.
“Tom Thumb is a high-quality grocery favorite in the Dallas area that will be a superior amenity, not only for the people who will live and work at The Union, but also for the nearby burgeoning residential districts,” said Mike Ebert, Managing Partner, RED Development. “A retailer like Tom Thumb means all-day, everyday energy for this project and adds to the exciting momentum we are creating at The Union.”
The Union is scheduled to open in 2017. The site is southeast of American Airlines Center and within walking distance of The Ritz-Carlton, Katy Trail, the Perot Museum of Nature and Science and Klyde Warren Park.
“The Union is a premier location for our new Tom Thumb store, at the heart of many nearby neighborhoods and the city’s top attractions.” said, Scott Hays, President of Tom Thumb. “We are looking forward to adding to this exciting project by serving residents, office tenants and the local community, as we have for over 67 years.”
In addition to two towers of office and residential, at completion The Union will feature 85,000 square feet of sit-down and fast-casual restaurants plus retail, including the 60,000 square foot Tom Thumb grocer. Texas-based CBRE/UCR’s Urban Retail and Leasing team will lead the leasing effort for the additional 25,000 square feet of retail space remaining at the property.
RED’s other key partners for the project are Dallas-based StreetLights Residential for the residential element; Peloton as office leasing agents; Houston-based landscape design firm, The Office of James Burnett (OJB); and Dallas-based design architect, HKS, Inc.
“The addition of a household-name grocer such as Tom Thumb contributes to our goal of creating luxury, urban communities within close proximity of local attractions and everyday needs,” said Doug Chesnut, CEO of StreetLights Residential. “We are pleased to be working alongside our strategic partner, RED and watching the progression and momentum building for the The Union mixed-use project. We look forward to seeing the finished product.”
More About The Union Dallas
Project plans for The Union include a residential tower and an office tower above retail, restaurants and parking. Overall, the project is being designed to connect the many elements of nearby Dallas neighborhoods, with an energetic, 24/7 mix of uses in a sustainable, distinctive setting that features an engaging, open-air central plaza.
Architectural plans call for a contemporary 407,000 square-foot, 22-story office tower with sweeping views of the city; a pleasingly scaled, 20-floor residential high-rise including 300 apartments with balconies and views; a 25,000 SF shared amenity deck; plus 11 levels of parking.
About Tom Thumb
Tom Thumb Food & Pharmacy currently operates 58 stores throughout North Texas under the Tom Thumb banner and an additional 49 Albertsons banner stores. A division of AB Acquisition LLC, which operates the Albertson’s LLC, NAI and the Safeway family of stores, the company is one of the world’s largest food and drug retailers, with more than 2,200 stores in 34 states and the District of Columbia under 18 banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, ACME Markets, Randalls, United, Pavilions, Star Markets, Market Street, Amigos, Carrs. The company is privately owned by a consortium led by Cerberus Capital Management.
About RED Development
A privately held, wholly integrated commercial real estate company based in Phoenix with corporate offices located in Dallas, TX and Overland Park, KS, RED maximizes asset value and performance for its high-quality retail and mixed-use portfolio that comprises 33 properties totaling 16 million square feet in 11 states. Celebrating its 20th anniversary in 2015, RED is well known for developing the large-scale CityScape project in Phoenix, a new office, hotel, residential and entertainment destination that has re-energized the city’s downtown adjacent to professional sports venues including Chase Field and US Airways Center. For more information, visit www.reddevelopment.com.