A new shopping center in McKinney will feature national retailers, including a Fortune 500 company and a well-known grocery chain.
Sherwin-Williams, ranked No. 176 on the Fortune 500 list, signed a 10-year lease on April 1 for a 4,500-square-foot space at the upcoming Eldorado Neighborhood Shops. The paint and coatings giant has been expanding aggressively, opening 18 stores nationwide in the first quarter alone, and plans to launch between 80 and 100 new locations by year’s end, according to the company’s Q1 earnings report.
Joining Sherwin-Williams is specialty grocer Trader Joe’s, which recently announced plans to open a new store at the same complex. While the company has not disclosed further details, city documents indicate the store will span about 13,514 square feet. The store will be the grocer’s second in McKinney, complementing its existing location at 2851 Craig Drive, which is about five miles away from the grocer’s upcoming location.
Trader Joe's will open a new location on Eldorado Parkway in McKinney. LANCE MURRAY/DALLAS BUSINESS JOURNAL
The 13.7-acre mixed-use development is located at the southwest corner of Eldorado Parkway and Stonebridge Drive, directly across from an existing H-EB store. Developers say the proximity to established brands will boost the value and appeal of the entire retail corridor.
“So H-E-B, Trader Joe’s — everything that’s going on in that corridor is just all positive for all the developers and all the retailers involved,” said Ahsan Daredia, partner at SLX Capital LLC, the Plano-based firm behind the project. “I think it just drives a lot of value to not just our center, but all the retail in that corridor.”
SLX Capital purchased the land for the Eldorado Neighborhood Shops in February 2024 and spent much of the year designing the complex. Construction began in December, and the center is expected to open in the first quarter of 2026.
The $27 million development will feature a mix of retailers, restaurants and services, including a gym and a daycare. Additional tenants already committed include Mountain Mike’s Pizza, Chipotle and Willowbrae Academy.
Negotiations are underway with several other national retailers. DBA Commercial Real Estate is handling leasing and pad sales, while other members of the development team include JAW Architects Inc., XS Construction LLC and Cross Engineering Consultants.
“Now that Trader Joe’s has announced, there’s going to be a lot more leasing activity,” Daredia said.
The project is part of a larger trend in Collin County, where fast population growth is creating strong demand for new shopping centers and mixed-use developments. McKinney has added over 25,000 new residents in the past five years, and the median household income is now $120,273, according to the city’s website.
Big retailers like Home Depot, Lowe’s, Walmart, Costco Wholesale Corp., and Whole Foods are also opening more locations in fast-growing cities north of Dallas. As the saying goes, retail follows rooftops — and in Collin County, new rooftops are going up quickly.
