Trademark and Harrison Street Break Ground on $135 Million Anthem Redevelopment in Arlington

Trademark and Harrison Street are moving forward with the redevelopment of a long-standing north Arlington retail center, announcing a groundbreaking for Anthem — formerly Lincoln Square — set for Aug. 3, 2026. The joint venture partners are investing more than $135 million into the 43-acre project, with InterBank providing both refinancing and construction financing. Completion is targeted for early 2028.

Project Scope and Design

The redevelopment will transform a 43-year-old shopping center into a mixed-use destination featuring approximately 404,000 square feet of retail, food and beverage, public space and entertainment uses. To make way for the new configuration, 70,000 square feet of existing space will be demolished. Trademark will lead a full renovation of the property, including improvements to walkability and connectivity, increased surface parking, new facades, and updated branding and signage.

The project's design incorporates a public green space, a curated public art program, outdoor seating, bike racks and event programming, elements consistent with Trademark's stated placemaking approach. Design architect Dwell Design Studio and general contractor Joeris General Contractors are among the project partners. The team also includes civil engineer mma, structural engineer Wright Engineers, MEP consultant Jordan & Skala Engineers, landscape architect Garrison/Jones, signage consultant RSM Design, and placemaking consultant Cora Design Collective.

The master plan is designed with flexibility in mind. In June 2026, the Arlington City Council approved the purchase of a 2.31-acre parcel within Anthem for an office development, which will proceed through a public bidding process, potentially adding a mixed-use component to the project as market conditions evolve.

Leasing and Tenant Strategy

Trademark says it is in final lease negotiations for more than 35,000 square feet of retail and food-and-beverage tenants, many of which will be new to the market. The leasing activity is ongoing as the project enters its early construction phase.

"With the addition of meaningful projects like the National Medal of Honor Museum and the expansion of the entertainment district near AT&T Stadium and Globe Life Field, North Arlington has been on a meteoric rise over the last decade," said Terry Montesi, CEO and Founder of Trademark. "Anthem — formerly Lincoln Square — has been a staple of this community for more than 40 years, and we're honored that the City of Arlington trusted us to take this strategic development to the next level. After years of diligent planning, groundbreaking is our first major construction milestone in delivering a dynamic lifestyle destination for this community and the DFW metroplex."

Nathan Rogatz, Director at Harrison Street Asset Management, echoed that view. "We're excited to partner with Trademark on the redevelopment of Anthem, a project that reflects our shared vision for creating vibrant, community-focused destinations in high-growth markets," Rogatz said. "With Arlington's continued population growth and expanding entertainment district, we believe Anthem is well positioned to become a premier destination that will serve residents and visitors for years to come."

Public-Private Partnership and Community Input

Trademark has worked closely with the Arlington Economic Development Corporation and the City of Arlington since becoming involved in the project in 2022. The development strategy has been shaped through community surveys, planning sessions and public meetings, with the goal of aligning the redevelopment with local needs and preferences.

"What we come to appreciate about our partnership with Trademark is a combined team approach to community feedback," said Marty Wieder, Executive Director of the Arlington Economic Development Corporation. "Trademark's goal is Arlington's goal: transformational redevelopment that integrates seamlessly with the neighboring fabric of the City. And the vision we've developed together for Anthem will further Arlington's reputation as an entertainment hub, addressing the needs and wants of residents and visitors alike."

Arlington Mayor Jim Ross framed the project in terms of private investment and economic catalysis. "Lincoln Square has been an iconic north Arlington spot for nearly 40 years, but the aging retail center has not seen the innovations or private investment needed to keep it market relevant," Ross said. "Trademark's total $135 million-plus planned investment will bring new shopping, dining and entertainment options, and serve as a catalyst for even more redevelopment."

Market Context and Capital Environment

Anthem is positioned to benefit from the broader draw of the AT&T Stadium and Globe Life Field entertainment corridor in north Arlington, as well as the nearby National Medal of Honor Museum, a combination that gives retail and entertainment projects a visitor base extending beyond local daytime trade.

The project is a redevelopment of an existing center rather than a greenfield development, placing it within a broader trend toward adaptive reuse, tenant curation and amenity-driven differentiation in the retail real estate sector. Institutional capital has increasingly favored assets with strong demographic support and clear placemaking strategies, particularly in experience-oriented retail formats.

InterBank's willingness to provide both refinancing and construction financing is notable given that lenders have remained selective on retail and mixed-use redevelopment projects, particularly where leasing is still being assembled at the time of construction start.

Anthem is one of several Dallas-Fort Worth properties in Trademark's portfolio, which also includes Shivers Farm, Galleria Dallas, Left Bank, Westbend, Alliance Town Center, The Vickery and Westbend Residences. Harrison Street Asset Management manages $109 billion in assets under management across real estate, infrastructure and credit strategies and is headquartered across offices in Chicago, Toronto and London.

Sources

Trademark Property Company — Official Press Release