By Matt Montgomery

editor@mustangnews.info

A Tennessee-based realty company is under contract to develop a $50 million retail shopping center near Mustang at Interstate 40 and Czech Hall Road.

“The Market at Czech Hall,” an 80 acre, 450,000 square foot retail development, is located on the cusp of Mustang school district. The massive retail shopping center is slated to open in the spring of 2016.

GBT Realty Corporation, based in Nashville, Tenn. is a firm that has been involved in the development, leasing, construction and management of more than 25 million square feet of retail development throughout the United States. They have developed 1.8 million square feet of retail in Oklahoma and Texas since 2010, with three additional sites planned for Bartlesville, Austin, Texas and Frisco, Texas.

The site construction will begin, pending acquisition of the land by spring 2015, the company reported.

GBT CEO George Tomlin said the realty company chose this proposed site because it’s in one of “Oklahoma’s fastest growing suburban communities.”

“The strength of the Oklahoma City marketplace and its better than national average population growth and unemployment rates are just a couple of the solid real estate fundamentals that make this site ideal for development and our retail partners,” Tomlin said. “And being located in the fastest growing area of Oklahoma, it’s no surprise that the Yukon area is home to some of the top producing retail stores in the region including, Target, Lowe’s Home Improvement, Kohl’s, Hobby Lobby and other national retailers and restaurants.”

Situated between Yukon and Mustang, The Market at Czech Hall looks to extend the fastest growing retail area on the southern side of Yukon to the east side of Oklahoma City, the company reported.

The shopping center will boast 180,000 square feet committed with final lease negotiations underway with both grocery and sporting goods tenants ready to anchor the neighborhood shopping center. In addition, five junior anchor boxes and more than 115,000 square feet of shop and restaurant space will complete the development plans.

The company has devoted 11 outparcels ideal for banks, restaurants and other service providers to be positioned in the front of the complex, with visibility from both Interstate 40 and Czech Hall Road.

“The Yukon/Mustang community is among one of the quickest areas in the Oklahoma City MSA to recover from the recession and emerge as one of the best places to live in the region,” Tomlin added.

GBT has committed to Crafton Tull for engineering and MJM Architects to complete their development team.