Big V Property Group forms joint venture partner for Rosamond Town Center

Anna, TX Big V Property Group and The Seitz Group have formed a joint venture with a fund managed by Principal Asset Management for the development of Rosamond Town Center, an additional project in its ground-up retail complex in the city.

Located at the northwest corner of Rosamond Pkwy. and Buddy Hays as it crosses Hwy. 75, Rosamond Town Center will be a 355,826 s/f, open-air center anchored by Academy Sports + Outdoors, Aldi, Burlington, EOS Fitness, Hobby Lobby, HomeGoods, PetSmart, and T.J. Maxx, and featuring several outparcels and specialty stores. Construction is expected to begin shortly.

It is an additional, complementary development to Rosamond Crossing, with 175,300 s/f anchored by a grocery store chain and including major bank and restaurant partners. The two will be part of a 750,000 s/f complex in Collin County being developed by Big V Property Group and The Seitz Group.

“Along with our development partner The Seitz Group, we are delighted to welcome Principal Asset Management to our Anna, Texas, property,” said Bryan Kallenberg, vice president of capital markets at Big V Property Group. “Their investment is a testament to the strength of this project, this market, and the skills that both Big V and Seitz bring to this development.”

The joint venture is Big V Property Group’s second with funds managed by Principal Asset Management. In December, the two acquired Fairfield Town Center in Cypress, Texas (metro Houston). The lender for Rosamond Town Center is Citizens Bank.

“We are excited to partner with such a highly respected institution to bring this exceptional project to such a fast-growing market in Anna,” said Corey Dendy, southeast real estate executive at Citizens.

“Based on Big V’s expertise in retail, and our successful work with them on acquring Fairfield Town Center, we look forward to continued partnership opportunities,” said Colin Frye, investment director at Principal Asset Management. “This new project in Anna will serve a growing community, and we are proud to help meet that demand.”

Anna was recently named the fifth fastest-growing U.S. city with populations of 20,000 or more, according to the U.S. Census Bureau. Three neighboring cities — Celina, Princeton, and Melissa — were ranked first third and fourth. The centers are located in Collin County, one of the fastest growing counties in the U.S., with population growth of 12% from 2020 to 2023 to nearly 1.2 million people. That number is expected to double by 2060, equaling all of the city of Houston. The median household income is $117,000.

Rosamond Town Center is the result of a strong partnership between The Seitz Group and Big V Property Group, which boast decades of combined experience in retail development and operations. Based in Dallas/Fort Worth, The Seitz Group has developed 51 retail shopping centers totaling 8.8 million s/f over its 33-year history. Big V Property Group owns and manages 23 shopping centers. The Anna projects are its first ground-up developments. Together, the partnership contributes extensive expertise in commercial real estate development, asset management, property management, and leasing.

Big V Property group already owns and operates six properties in the Lone Star State, comprising of RIM and Alamo Ranch in San Antonio, Glade Parks in Euless, Deerbrook Marketplace in Humble, Fairfield Town Center in Cypress and Southpark Meadows in Austin. As a vertically integrated company, the 80-year-old, family-run Big V Property Group has decades of experience in real estate asset management, commercial property management, outparcel development, and leasing.