DALLAS—Despite reports to the contrary, retail is firing on all cylinders. As an example, several leases were inked during the latter part of the year in North Texas. These leases totaled more than 41,000 square feet of space, according to Venture Commercial Real Estate.
“Retail is alive and well in North Texas, despite some 2017 reports,” said Venture founding principal and managing partner Mike Geisler. “Developers and landlords continue to adjust to market forces with creative uses of space, ranging from restaurants and entertainment to grocery and consignment.”
The following leases were completed late last year:
Natural Grocers signed a lease to open a 14,870-square-foot health specialty store at 677 West Campbell Rd. in Richardson, TX. Clay Mote and Tim Henson with Venture represented the tenant in lease negotiations, along with James Craddock of Craddock Commercial Real Estate, master broker for Natural Grocers. The landlord, a private investor, was self represented.
Uptown Cheapskate and BurgerFi are added to the tenant mix at Mockingbird Central Plaza. Venture's Easley Waggoner Jr. and Amanda Throckmorton represented Mockingbird Central Plaza in lease negotiations to secure two new tenants that are expected to open in spring 2018 at the shopping center located at 5400 East Mockingbird Ln. Resale clothing store Uptown Cheapskate, represented by Tom Metcalfe with TKJK Inc., signed a 4,805-square-foot lease. Gourmet burger restaurant BurgerFi, represented by Venture Commercial's Bryan Cornelius and Albert Hernandez, signed a 2,824-square-foot lease.
“With the addition of the BurgerFi and Uptown Cheapskate leases, Mockingbird Central Plaza is now 98% leased,” Waggoner tells GlobeSt.com. “We expect this BurgerFi location in the heart of Dallas to really galvanize the gourmet burger chain's brand and build momentum as they enter the DFW market.”
Texas-based Killarney's Live Irish Pub signed a 7,433-square-foot lease at Fairview Town Center, located at the northeast quadrant of US Route 75 and Stacy Road. Killarney's opened January 1, with an expected grand opening date in April upon completion of its rooftop patio. Greg Blandford with Venture Commercial represented the tenant in lease negotiations and David Lewis with Lincoln Property Company represented the landlord.
The owners of Yard Art Patio & Fireplace signed a lease to open a 9,122-square-foot store at 5270 South Hulen St. in the Hulen Fashion Center in Fort Worth. Other tenants in the center include Total Wine, Tuesday Morning, Uptown Cheapskate and Men's Wearhouse. Venture's Waggoner and Throckmorton represented the landlord, Venture Hulen LP, a partnership of Venture Investment Partners LLC, in lease negotiations. Bob Moore with Tiburon Commercial Real Estate represented the tenant.
Anju Donuts, d/b/a Dunkin Donuts, signed a 2,200-square-foot lease at the Victory Shops at Lakeridge II, which is currently under construction at the northeast corner of Camp Wisdom Road and Lake Ridge Parkway in Grand Prairie, TX. Venture's Chris Corbin represented Dunkin Donuts in lease negotiations. The landlord was represented by Rose Meza with Segovia Retail Group.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
