The Dallas-Fort Worth real estate market is experiencing a surge of activity, highlighted by the announcement of several large-scale retail, residential, and industrial projects. Major developments in Frisco and Terrell are set to reshape their local economies, while significant lease and sales transactions underscore continued investor confidence across the region.
In Frisco, the Fields West mixed-use development has secured a slate of high-profile retail tenants, signaling strong momentum for the 55-acre project. Meanwhile, the city of Terrell has approved a massive $3 billion community named Terra Nova, which will add thousands of homes and new commercial space over the next two decades.
Key Takeaways
- Fields West in Frisco announced 10 new retail tenants, including Crate & Barrel and North Italia, bringing the project to 70% preleased.
- The city of Terrell approved Terra Nova, a $3 billion, 1,500-acre mixed-use development with plans for nearly 5,000 homes.
- Major property sales include a 756,668-square-foot industrial center in Mesquite and two large apartment complexes in McKinney and Frisco.
- Popular brands like Torchy’s Tacos and Rock’em Western Wear are expanding their footprints in Dallas with new leases.
Frisco's Fields West Secures Major Retail Names
The ambitious Fields West development in Frisco is rapidly taking shape, with developers announcing leases for 10 new retail and lifestyle brands. The project, a joint venture between The Karahan Cos. and Hunt Realty Investments, is a central component of the larger Fields master plan, which is already home to the PGA of America headquarters.
The newly signed tenants include home goods retailer Crate & Barrel, furniture store Design Within Reach, and popular restaurants like North Italia and Culinary Dropout. Other brands joining the lineup are Maman, Gorjana, Landry Kate, TravisMathew, Face Foundrie, and U Med Spa.
With these additions, Fields West is now 70 percent preleased ahead of its phased opening, which is scheduled to begin in 2027. Other previously announced tenants include the area's first Mastro’s Steakhouse and a new mini-store concept from Bloomingdale’s called Bloomie’s.
This 55-acre development is designed as a walkable urban district. In addition to retail, Columbus Realty Partners is developing 1,150 high-end residential units above the shops and restaurants, creating an integrated live-work-play environment.
A Hub for Sports and Entertainment
Fields West benefits from its location within a growing entertainment and corporate hub. The development is adjacent to the Omni PGA Frisco Resort & Spa and is near the future site of the Universal Kids Resort, which is expected to open by the end of next year. This concentration of attractions is designed to draw visitors and residents from across the region.
Terrell Approves $3 Billion Terra Nova Community
Further east, the city of Terrell has given the green light to a transformative $3 billion development that will bring a new master-planned community to the area. The project, named Terra Nova, will span 1,500 acres near FM 245 and Griffith Road.
Developed by Main Square Development, the community is planned to be built in 15 phases over the next 20 years. The vast scope of the project includes:
- 3,600 single-family homes, with prices starting in the mid-$300s.
- 1,200 multifamily apartment units.
- Up to 200,000 square feet of retail, restaurant, and office space.
- Extensive green space, with 145 acres of parks and trails and 220 acres of open areas.
The long-term vision aims to create a self-sustaining community that addresses the growing housing demand in the region. Developers expect to announce homebuilders in early 2026, with the first model homes slated to break ground in 2027.
Significant Commercial and Multifamily Transactions
Beyond new developments, the DFW market is also seeing a high volume of major property sales and leases, indicating strong market fundamentals.
Investor Confidence in Industrial and Residential
Recent transactions reflect a strong appetite for both industrial and multifamily properties in North Texas. The demand for modern logistics facilities and high-occupancy apartment complexes continues to attract national investors looking for stable, long-term assets.
In Mesquite, real estate investment trust W.P. Carey purchased a newly completed industrial distribution center. The 756,668-square-foot facility features 40-foot clear heights and 96 loading doors. The property is fully leased to a single tenant with approximately 10 years remaining on the lease, making it a stable, income-generating asset.
The multifamily sector also remains active. Weidner Apartment Homes acquired McKinney Village, a 245-unit apartment complex in McKinney’s medical district. The property, built in 2017, maintains a high occupancy rate of 94 percent. In a separate deal, North Carolina-based Bell Partners purchased the 355-unit Albee Apartments in Frisco, which will be rebranded as Bell Southstone Yards.
These acquisitions highlight the continued appeal of the DFW suburbs for both residents and investors, driven by job growth and quality of life.
Retailers Expand Across Dallas
Established brands are also expanding their presence within Dallas. Austin-based Torchy’s Tacos has signed a lease for a 2,533-square-foot location at 23Springs, an office development in the Uptown neighborhood. The new restaurant will feature an elevated interior design and a full bar to cater to the area's clientele.
In North Dallas, Houston-based boot company Rock’em Western Wear is making a significant move by leasing 20,000 square feet at the Preston Valley Shopping Center. The large footprint signals a major investment for the brand in the Dallas market, capitalizing on a highly visible location along the LBJ Freeway.
