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Low Retail Vacancy Has Tenants Clamoring for More

DALLAS—In a market that shows no sign of cooling in terms of office, retail and multifamily demand, several recent retail leases demonstrate this high level of tenant activity.

By Lisa Brown | lisabrown | | Updated on May 03, 2016
Kroger Kroger Signature is the anchor of the Oak Grove Plaza retail center.
DALLAS—In a market that shows no sign of cooling in terms of office, retail and multifamily demand, several recent retail leases demonstrate this high level of tenant activity. The recent batch of leases total approximately 21,084 square feet of retail space across North Texas, according to Venture Commercial . Bryan Cornelius , partner with Venture Commercial, tells GlobeSt.com: “These leases illustrate the strength of the DFW retail real estate market and the high demand for quality retail space. North Texas continues to be one of the most active markets in the country with a very low vacancy rate for retail.” Mesa Springs , a provider of outpatient mental health services, has inked a lease at Woodland Village shopping center, located at the southwest corner of Timberland Boulevard and North Beach Street in north Fort Worth. Chris Corbin with Venture Commercial, along with Michael Dearden , represented the landlord in lease negotiations of the 8,669 square feet of space. Sydney Burgess and Pat McDowell of Jones Lang LaSalle Americas Inc. represented the tenant. Mesa Springs will join other tenants in the center including Walgreens, Subway and North Beach Dental . The Oak Grove Plaza retail center is located on the northeast corner of the intersection of State Highway 78, Murphy Road and Bunker Hill in Sachse, TX. Emler Swim School has completed a 5,565-square-foot lease there and is expected to open in June. Emler will join other tenants including anchor, Kroger Signature grocery store, Donut Palace, Subway, Lake Pointe Medical, Oak Tree Dental and Super Cuts. Amy Pjetrovic and Tonya Hagood of Venture Commercial represented the landlord in lease negotiations, while Ty Underwood of SLJ Company LLC represented the tenant. Teen fashion retailer, rue21 , has leased 6,850 square feet of space at Luton Ranch , an H.E.B .-anchored shopping center located on northeast corner of U.S. 377 and Meander Road in Granbury, TX. Cornelius and Corbin with Venture Commercial represented rue21 in lease negotiations, while Matt Square and Shelley Taylor of The Retail Connection represented the landlord. Venture Commercial Real Estate specializes in retail brokerage services throughout Texas.  

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