Trademark and MetLife Investment Management Break Ground on 202,000-SF Whole Foods-Anchored Retail District in Cypress

Trademark Property Company and MetLife Investment Management will break ground October 1 on Dunham Pointe, a 202,000-square-foot retail and restaurant district anchored by Whole Foods Market in Cypress, Texas, the firms announced September 22. PNC Bank provided financing for the 25-acre development, which sits at the intersection of U.S. Highway 290 and Mason Road in the northwest Houston suburb.

Fourteen tenants have already signed leases ahead of construction, and active negotiations are underway with more than 12 additional tenants representing approximately 65,000 square feet, with letters of intent from more than 10 other retailers.

Project Details and Tenant Roster

Dunham Pointe will comprise 202,000 square feet of ground-up retail space within the larger 1,300-acre Dunham Pointe master-planned community. In addition to Whole Foods Market, signed tenants include Amorino Gelato, Fidelity, LaserAway, Milkshake Factory, a national junior fashion anchor, Nordstrom Rack, Ojo de Agua, Pepper Lunch, Playa Bowls, Pokeworks, Shake Shack, Solidcore, and Texas Country Boots.

"Starting construction is a major milestone for us and for Dunham Pointe," said Terry Montesi, CEO and founder of Trademark. "We are seeing the start of a new retail development cycle after one of the longest downturns in history. With record-low national retail vacancy and construction starts, the market is genuinely undersupplied, and developers and investors are starting to respond. We are proud to be among the first movers, getting impactful projects like Dunham Pointe off the ground."

Blake Bickmore, vice president of development at Trademark, pointed to strong leasing activity as a driver of confidence heading into construction. "We're bringing Dunham Pointe to Cypress in the midst of an exponential growth period, and the demand is definitely there," Bickmore said. "We're focused on curating an unparalleled mix of shopping, dining, and entertainment, and leasing activity has been extremely strong. We're thrilled to be breaking ground with this level of momentum."

Master-Planned Community Provides Built-In Demand

The retail district is part of the broader Dunham Pointe master-planned community, which has recorded more than 1,000 new-home sales since residential sales began in 2021. That residential base has helped establish the consumer demand that underpins the retail project's leasing momentum.

Cary Dunham, executive vice president of Dunham Pointe Development, said the pace of home sales created the critical mass needed to support the retail phase. "We wanted to create a community where families could not only find an exceptional home, but also have amenities, restaurants, shopping, and services close at hand," Dunham said. "The pace of home sales has created the critical mass to support that next phase of development, and Trademark recognized the opportunity."

Beyond the retail component, Dunham Pointe Development is currently under contract or in negotiations with developers and users for multifamily, townhomes, medical facilities, and additional commercial uses.

Houston Retail Market Context

The groundbreaking comes as Houston's retail market operates with limited vacancy and a constrained construction pipeline. Houston retail vacancy stood between 5.5% and 5.7% in 2026, with average asking rents ranging from approximately $21.47 to $21.52 per square foot. Houston had roughly 4.2 million square feet of retail space in its construction pipeline, with approximately 69% of that space already preleased.

The 65,000 square feet currently in active lease negotiations at Dunham Pointe represents approximately 32% of the project's total planned size.

Part of Trademark's Broader Texas Development Push

Dunham Pointe is one of three Texas retail projects Trademark is advancing during the summer and fall of 2026. The firm broke ground August 3 on Anthem, a redevelopment of the 43-year-old Lincoln Square shopping center in Arlington. Shivers Farm, a 40-acre Whole Foods Market-anchored mixed-use community in Southlake, is scheduled to break ground September 23. Together, the three projects represent 721,000 square feet of new or refreshed retail space.

Trademark's existing Houston-area portfolio includes Market Street – The Woodlands, which encompasses approximately 400,000 square feet of retail, 15 restaurants, a luxury cinema, 115,000 square feet of Class A office space, and a 70-room Hyatt Centric hotel. The firm also developed Royal Oaks Village, an H-E-B-anchored shopping center on Westheimer Road, and from 2014 to 2019 redeveloped, leased, and managed the Rice Village assets owned by Rice Management Company.

Fort Worth-based Trademark has invested in, developed, or redeveloped 24 million square feet of mixed-use, multifamily, and retail assets valued at approximately $5 billion. The firm currently operates a 19-property retail and mixed-use portfolio totaling more than 10 million square feet and employs more than 200 people.

Sources

Trademark Property Company — Trademark Advances Toward the Next Milestone at Dunham Pointe