The Connect April 2026
DFW Retail Is Booming — Hillwood’s Guy Grivas Explains Why
With vacancy rates near historic lows at approximately 4.8% and Dallas-Fort Worth leading the nation in new retail construction, Guy Grivas, Vice President of Retail at Hillwood, remains optimistic about the industry’s outlook in 2026.
“DFW continues to benefit from strong population growth, and many national and regional retailers have been trying to gain a foothold in the market for years,” Grivas said. “What may look like aggressive development is, in many cases, the market catching up to demand.”
Grivas, who leads leasing, development and marketing for Hillwood’s retail portfolio, recently shared his perspective on current retail trends and what lies ahead for the region.
What types of retail growth are you seeing the most demand for right now?
Most new retail projects breaking ground today are anchor-driven and heavily pre-leased, reflecting a healthy market dynamic. Grocery-anchored centers continue to serve as the foundation of successful retail environments, generating consistent, necessity-based traffic. Retailers such as H-E-B, Tom Thumb, Kroger, Sprouts Farmers Market, Target and Costco are actively expanding across DFW to serve the region’s sustained population growth.
A strong example is Hillwood’s 3,200-acre Landmark development, where the company is bringing the first H-E-B to Denton as the lead anchor of the retail component. The store, which will be H-E-B’s largest in North Texas, is slated to open in 2027. Landmark is expected to become a premier retail destination for the Denton market and serve as a long-term catalyst for growth in the corridor.
Hillwood is also seeing strong momentum tied to service-oriented retail, with fitness, wellness, and spa concepts expanding rapidly as consumers increasingly prioritize health, self-care, and experience-driven spending.
What is the long-term vision for Hillwood’s Front 44 site in Westlake? What can residents and corporate neighbors like Charles Schwab expect over the next five years?
Front 44, the mixed-use retail anchor for Circle T Ranch, is designed to welcome employees, residents and visitors to one of the region’s most dynamic corporate environments. The project is envisioned as a walkable, integrated community that brings together office, retail, dining, hospitality and wellness in a connected setting.
The first phase, expected to break ground later this year, will include a new office building for Charles Schwab and approximately 65,000 square feet of retail space with a signature restaurant collection, situated on a 10,000-square-foot outdoor plaza. Plans are also underway for a boutique hotel that will serve corporate visitors and guests.
The merchandising mix in Phase I will be heavily focused on food and beverage, complemented by health and wellness concepts.
Retailers like IKEA are pivoting to smaller formats. How is AllianceTexas adapting to these changes?
At AllianceTexas, the scale and flexibility of the master-planned development allow Hillwood to work with best-in-class retailers as they introduce new store concepts and formats. Many brands are right-sizing with more efficient footprints that emphasize customer experience, engagement and omnichannel integration. These stores often function as showrooms or service hubs, supported by strong logistics behind the scenes, and are designed to complement rather than replace traditional locations.
At the same time, concepts such as Dick’s House of Sport are significantly larger than the traditional Dick’s Sporting Goods prototype, incorporating experiential features such as turf fields, climbing walls and community gathering spaces. This approach reflects a growing belief that brick-and-mortar retail performs best when it offers something immersive and differentiated.
What other retail or dining updates are on the horizon for the AllianceTexas community?
At Harvest Town Center in Argyle, Hillwood recently celebrated the grand opening of Tom Thumb. The center continues to gain momentum with new tenants including Chuy’s, Bank of America, Jersey Mike’s Subs, Gideon Math & Reading, European Wax Center, Gen Nail Salon, Chipotle and Mo’ Bettahs opening soon and several additional deals in the works.
Looking ahead, planning is underway for Hillwood’s next retail center at the northeast corner of I-35W and SH 1171. As Harvest, Landmark and Front 44 continue to advance, the site represents the next opportunity for retail expansion within the AllianceTexas community.
Overall, Hillwood is proud of the steady, disciplined progress across its retail portfolio and looks forward to continuing to build destinations that serve the region’s growing communities.