Tenants told Willow Bend mall in Plano has changed hands; no word on $125M expansion project

The Shops at Willow Bend has undergone a court-mandated change in ownership amid the property's $125 million expansion project. (Daniel Houston/Community Impact Newspaper)
The Shops at Willow Bend has undergone a court-mandated change in ownership amid the property's $125 million expansion project. (Daniel Houston/Community Impact Newspaper)

The Shops at Willow Bend has undergone a court-mandated change in ownership amid the property's $125 million expansion project. (Daniel Houston/Community Impact Newspaper)

Tenants at Plano's last indoor shopping mall were informed the property changed hands earlier this month amid a $125 million expansion project and ongoing coronavirus-related shutdowns.

Starwood Retail Partners had been spearheading the construction project to revamp the property but lost control of the property in court proceedings, according to an April 23 letter to tenants obtained by Community Impact Newspaper.

The property is now being managed by The Woodmont Company, a North Texas-based firm. The court placed the mall in possession of Trigild, a company with offices in Dallas and San Diego that acts as a fiduciary for properties in bankruptcy proceedings, among other services.

Representatives for Starwood Retail Partners and Trigild did not respond to requests for comment on the mall's ownership or the $125 million expansion project.

The project has seen the additions of a new restaurant district, Crayola Experience children's entertainment center and Equinox Fitness facility. A Cinepolis movie theater was also under construction. It was initially expected to open in the summer.


The mall was also expected to move forward with adding more complementary uses to the existing structure, including an attached office building and multifamily residential uses.

In January, Starwood said it was working to restructure and extend the loan that financed the project after falling behind on its loan payment.
By Daniel Houston
Daniel Houston covers city government, transportation, business and education for Community Impact Newspaper in Lewisville, Flower Mound and Highland Village. A Fort Worth native and Baylor University graduate, Daniel reported previously for The Associated Press in Oklahoma City and The Dallas Morning News.


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