RED Development lands a red-hot tenant in Dallas

DALLAS – After a year of planning, Phoenix-based RED Development has landed its first major retail tenant — Tom Thumb — into its proposed Uptown tower.

The two-tower, 800,000-sf project, formerly known as Akard Place, at Field St. and Cedar Springs Rd. is getting a new name: The Union Dallas, slated to open in 2017.

Plans for The Union Dallas — a two-tower project — include 407,000 sf of Class AA office tower on 14 floors of the tower, a 300-unit high-rise apartment building on 20 floors, and 82,500 sf of retail and restaurant space.

The towers will also include 11 levels of above- and below-grade parking.

Tom Thumb plans to lease 60,000 sf of space. CBRE-UCR is leasing the remainder of the retail space in the towers, which total about 25,000 sf.