Big V Property Group, The Seitz Group announce joint venture to develop a retail complex in North Dallas suburbs

Charlotte, NC In a rare new, ground-up retail development, Big V Property Group and The Seitz Group are teaming up to build the first of two premier, open-air shopping centers totaling nearly 950,000 s/f of new retail in Collin County, the companies announced.

“For over a decade, retail developers have been cautious to expand supply,” said Jeffrey Rosenberg, chairman and CEO of Big V Property Group. “However, in fast-growing North Dallas more supply is needed and requires new developments that are configured and leased to their wants and needs. We are working with Eric Seitz on this exciting new project to bring our decades of management, operations, and leasing experience to North Dallas.”

The project marks Big V’s first ground-up development and is already 70% leased to creditworthy tenants. The first center will be:

• Rosamond Crossing (Southeast), with 175,300 s/f in Anna, Texas, anchored by Kroger, to be joined by Bank of America, Chase, Jimmy John’s, and McDonald’s

New retail construction has been extremely rare in recent years, with new supply rising just 0.5% annually over the past decade, compared with 2.5% prior to the Great Financial Crisis of 2008, according to advisory firm Green Street. In the post-pandemic area, open-air development starts have averaged 0.3% of existing stock annually. The result is high occupancy, but communities that are underserved in terms of the contemporary retail facilities and tenants they need.

Rosamond Crossing is also a shift into new construction for Big V Property Group, which has acquired a portfolio of 50 neighborhood and community shopping centers totaling over 9.5 million s/f, primarily located in the southern region of the U.S.

“This project draws upon the Big V’s long history of real estate development,” said Kenton McKeehan, president and chief investment officer of Big V Property Group. “For this project, we chose to partner with The Seitz Group due to their deep knowledge of the North Dallas market and extensive open air retail development know-how. They were the obvious choice and we are excited to launch these projects alongside Eric Seitz and his team.”

Rosamond Crossing will be located in Collin County, one of the fastest growing counties in the United States, with population growth of 12% from 2020 to 2023 to nearly 1.2 million people. That number is expected to double by 2060, equal to the entire city of Houston. The median household income is $117,000.

“As North Texas continues to grow and thrive, we’re proud to break ground on a new Kroger Marketplace store in Anna that will bring even greater access to fresh, affordable groceries and everyday essentials, plus the addition of 250-300 new jobs. This new site represents more than just a store — it’s a commitment to convenience, community, and connection,” said Rudy DiPietro, president, Kroger’s Texas Division. “Kroger is more than a grocery store — we’re a community partner. As an employer, retailer, healthcare provider, and more, we’re committed to making a positive impact in the City of Anna and surrounding communities.”

Kroger’s Marketplace store format will feature the best that Kroger has to offer, including a full-service coffee kiosk, Murray’s Cheese counter, fuel center featuring a grab & go kiosk with beverages and snacks, full-service grocery, produce, floral, meat and seafood, pharmacy, and expanded general merchandise, including outdoor living products, home goods, apparel, toys, and more.

Other developments in the region that will draw residents, visitors and corporations to the market include the $1.5 billion master-planned community Sherley Farms, connecting to downtown Anna; Universal Kids Resort, expected to open in summer 2026 in Frisco; and an expansion of the McKinney airport. Multiple new residential developments have also been announced for Anna.

Rosamond Crossing 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 more than 50 retail shopping centers totaling over eight million square feet over its 33-year history. Big V Property Group, with over 80 years of experience, owns and manages more than 50 shopping centers, including five premier properties in Texas. Together, the partnership contributes extensive expertise in commercial real estate development, asset management, property management, and leasing.

Kaufman Consultants, a women-owned firm with almost 20 years of retail development experience, supported the partnership by aligning its vision with the City of Anna’s goals through expert guidance in planning and permitting, ensuring the project moved efficiently from concept to reality.

“This project showcases the strength of collaboration. With the City of Anna’s support and our partnership with Big V, we’ve created a Class A destination that brings grocery, restaurants, retail, wellness services — everything that the residents have asked for — to the community. It will be the foundation for Anna’s continued growth,” said Eric Seitz, The Seitz Group.

Rosamond Crossing is being financed with a combination of developer equity, financing from private equity partner, Equity Street Capital, and construction loan from Valley Bank.

“The pre-leasing velocity and the shadow anchor Kroger component to Rosamond Crossing allowed us to run a thorough competitive construction financing project. Ultimately, Valley Bank — a valued lending partner with a strong existing relationship with Big V — provided the construction financing at highly attractive terms,” said Bryan Kallenberg, vice president of capital markets for Big V Property Group.

“Valley is very excited to be a part of the Anna Kroger development. Big V is a long-time client. They are one of the best retail operators in the country,” said Todd Harris, commercial real estate – division head at Valley Bank. “Eric Seitz also brings an impressive track record of retail development expertise to the deal. DFW’s demographics and growth are unparalleled. Anna is a critical part of this growth, and we are thrilled to be involved in this project.”

Permitting has begun and sitework is expected to begin this month, with vertical construction on Phase 1 in April 2026, with an April 2027 tentative opening. Phase 2 will begin construction in March 2027, with opening in March 2028. 

The development will create approximately 400 jobs during construction and is estimated to create 125 permanent jobs when fully open and operational.

“This is a great moment in Anna’s history, and one that will continue to benefit our citizens for years to come,” said Pete Cain, mayor of Anna, TX. “We’re delighted that Big V, The Seitz Group and Kroger recognize the growth of our community and are excited for opening day!”