Steve Williamson, Transwestern's senior vice president of retail, told GlobeSt.com that the initial strategy would be to seek more than one tenant for Service Merchandise's two-story building. He says another possibility is to find a tenant in need of call center space or possibly a health-club operator. The store, with second-story warehouse space, had been closed as part of a Chapter 11 reorganization implemented about two years ago, says Williamson.
The building is part of a 130,000-sf retail center owned by Mutual of New York. It is located at the intersection of Belt Line and Montfort roads in Addison. The center, which boasts a tenant roster that includes nationwide retailers, is positioned across the street from Prestonwood Mall. Built in the 1980s, the center carries leasing rates in the mid $20s per sf range for its smaller tenants, says Williamson.
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