Trader Joe’s to anchor new development at Central, Walnut Hill

It’s official: The new mixed-use development at the northwest corner of Central Expressway and Walnut Hill will be anchored by coveted grocer Trader Joe’s, according to a front-page story in the Dallas Morning News.

We suspected this might be the case when Leon Backes of Provident Realty told us they were looking for a “relatively small” anchor and retailers not yet seen in the Dallas market.

He said the development, which is being called Preston Hollow Village, will be walkable with limited surface parking in an effort to get away from the typical strip-mall shopping center we around the neighborhood.

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Provident is a partner with Missouri-based Kroenke Holdings, which bought the land in November 2010.

This will be the second Trader Joe’s in Dallas but the first to come in with new construction. The grocer announced a spot on Lower Greenville last December, taking over the old Arcadia night club. Locations also are planned in Plano and Fort Worth. Wondering what all the Trader Joe’s fuss is about? Advocate editor Keri Mitchell explains its cult following.

Preston Hollow Village is considered one of the most valuable pieces of real estate in Dallas right now. The entire development will take several years to complete.

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  • MF, you are correct: Whatever Trader Joe’s does on Greenville will be new construction.

  • No word on when the Greenville store will begin construction that I’ve heard, but I doubt they’ll be intimidated by Walmart down the street. Trader Joe’s undoubtably knew Walmart was looking at that space before Trader Joe’s itself passed on it.

  • Mark R.

    I’m getting concerned that Trader Joe’s is letting Walmart beat them to the punch on Greenville and might decide to back out. Any idea when Trader Joe’s is going to break ground on Greenville? Looks to me like Walmart’s about halfway to being open.

  • MF

    Yay for more Trader Joe’s! Maybe I’m missing something, but wouldn’t the location at the old Arcadia site be new construction, too? After the venue burned down, that lot was completely razed, wasn’t it?