“The spaces are filling up,” said Bill Kozlik, president of the Harker Heights Chamber of Commerce. “There really has not been a problem at all.”
The signs all seemed to paint to a rosy financial future when city leaders joined officials from Dallas-based Direct Development in 2007 to break ground on the 82-acre retail site.
And even though the economy seems to be in a downward spiral nationally, many in Harker Heights are still seeing the glass as half-full.
“The parking lot is always full,” said Eva Keagle, a Harker Heights real estate professional and a member of the Harker Heights Chamber of Commerce. “This place is packed all of the time.”
In May, as the Cinemark theater opened its doors, Direct Development announced that 65 percent of the retail space within the 700,000-square-foot shopping center was either filled or leased to be filled by retailers.
“We are actively marketing to local and national retailers,” said Krista Dabney, Direct Developments director of leasing at their Austin location.
The hard work seems to be paying off with 75 percent of the retail space either filled or leased to be filled in 2009.
“The merchants that are in there right now are doing very well,” Kozlik said. “It’s not gangbusters like a normal economic flow would be, but they are still doing well.”
That’s good news in the midst of a national recession.
The better news is that none of those retail tenants seem to be looking for a way out of their leases before they open for business.
“I have not heard anything to that effect,” Harker Heights City Manager Steve Carpenter said.
Carpenter did say concerns about the economy may have caused some potential retailers looking for prime real estate to wait.
Of course, the city still stands to profit from sales tax and property tax revenue in 2009.
It is projected that Market Heights will generate at least $2 million in sales tax revenue and slightly more than $500,000 in property tax revenue for the coming year.
“We still have some stores opening,” Carpenter said.
One of the most well known is James Avery Jewelers, which has stores in a number of Texas cities and will open its newest location Friday.
Meanwhile, Christmas shoppers continue to flood the open retailers, which include Dick’s Sporting Goods, Old Navy and Barnes and Noble.
“As far as I can see, by all indications this is going to be a good season,” Kozlik said.
