DALLAS-The city’s first transit-oriented development will undergo a transformation in the coming months. Mockingbird Station’s asset manager, Real Estate Capital Partners, has hired Madison Marquette to reposition the mixed-use project.
The repositioning process includes a significant capital improvement plan, as well as a consumer research project and leasing program, according to Whitney Livingston, vice president of management and marketing services for Madison Marquette and the Mockingbird Station project lead.
Located at the intersection of Central Expressway and Mockingbird Lane, Mockingbird Station consists of 200,000 square feet of retail, residential lofts and an office tower. It offers a mix of retail, restaurant and entertainment options including: Urban Outfitters; American Apparel; West Elm, Urban Taco; and Angelika Film Center. The retail portion is more than 90% leased, according to Livingston.
“This repositioning is proactive rather than reactive,” Livingston tells GlobeSt.com. “There doesn’t have to be a problem for the project to be improved. Mockingbird Station is now 10 years old, and the anniversary creates an opportunity to better understand the customers it serves and to bring together a tenant mix that serves those customers. We’re going to look at it holistically to make it more of a district.”
Under Livingston’s leadership, Madison Marquette has hired well-known consumer research firm Alexander Babbage to conduct a multi-tiered research program. The program, which includes both on-site research, as well as telephone and online surveys, will capture the thoughts of both people who shop at Mockingbird Station and those who don’t. The firm will also provide a trade area analysis.
Livingston says the research will arm Madison Marquette with the information it needs to differentiate Mockingbird Station from nearby retail offerings. The firm also is working with an architect to evaluate the project’s fa
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