LEWISVILLE, TX-PetSmart has inked a 10-year lease for the 35,106-square-foot space in Vista Ridge Village that was formerly occupied by Linens ‘N Things. The lease on national chain’s existing Lewisville store, located at 2450 South Stemmons Freeway, was up, and PetSmart decided to relocate so it could open a store with its PetsHotel concept, says Steve Lieberman, CEO of Dallas-based Retail Connection.

Lieberman and David Fazio, also with The Retail Connection, represented PetSmart in the deal, along with Craig Wielansky of L3 Corp. The shopping center owner, Dallas-based PO’B Montgomery was represented by Jennifer Reynolds of JenCo Realty.

Lieberman tells GlobeSt. that the performance of PetSmart’s existing store, which has been open for 10 years, justified a shift to the pet hotel prototype, which is roughly 50% larger than the standard PetSmart store, which ranges from 18,000 square feet to 20,000 square feet. PetSmart will occupy only 27,000 square feet of the new space.

“This is an example of PetSmart’s responsiveness to the market,” Lieberman says. “Even though a space may not be their prototypical size, they will make it work if the economics are there.”

Located at the northwest corner of Interstate 35 and FM 3040, Vista Ridge Village is a 375,000-square-foot power center located across the street from Vista Ridge Mall, a 1.1-million-square-foot regional mall owned by Chicago-based General Growth Properties Inc. PetSmart joins a roster of several national big box tenants including: Joann's, Marshall's, Old Navy, Barnes & Noble, The Sports Authority and OfficeMax.

“This location is superior to the existing location,” Fazio tells GlobeSt. “Both locations provide excellent visibility to I-35, but Vista Ridge Village offers better accessibility – it’s always better to be on the same side as the mall. Plus, the co-tenancy and shopping patterns at the new location are better.”

The Vista Ridge Village store is scheduled to open spring 2011. Currently, PetSmart has 38 stores in the Metroplex, and The Retail Connection has been working with the chain to execute its expansion strategy in North Texas, Arkansas and Oklahoma since April 2008, Lieberman says.

In addition to the Vista Ridge Village store, PetSmart has two other stores under construction in the Metroplex – one at State Highway 121 and Josey Lane and one in Waxahachie, a southern suburb. “PetSmart has been a very active player in the DFW retail market,” Lieberman notes, adding that the retailer has several additional leases for Metroplex locations in legal review. “They're one of the success stories of the market.”