Retail businesses riding Richardson's high energy around future growth

11/13/2013

Last week, REDP's retail lead, Sue Walker, attended the ICSC (International Council of Shopping Centers) Texas Conference and Deal Making event in Dallas and met with a number of retail prospects for Richardson Heights, E. Belt Line/Plano Road area, Coit Road and other Richardson shopping centers. The mood was very upbeat for deal making with lots of interest in Richardson due to the massive State Farm project and other areas working to attract new tenants. 

 

The retail plaza at CityLine around the State Farm buildings was a big topic of conversation among many restaurant prospects. There will be "grab 'n go" options, fast-casual as well as full-service type restaurants. We anticipate that there may be some announcements before the end of the year both at CityLine and from other Richardson sites.

 

A key strategies for keeping in touch with local shopping center owners and brokers who lease Richardson centers has been a quarterly Richardson Retail Consulting Group (REAL) luncheon event that Sue Walker has hosted for the past seven years. The luncheon program not only provides an opportunity to receive current information on Richardson, it is also a time for the center owners and brokers to discuss issues impacting Richardson's retail and tenant attraction. Issues such as signage, landscaping and special use permits are always topics of conversation. In addition, each attendee gives an update on their center and shares information on new tenants and available space. At times, a city manager or department head will give the city’s perspective and respond to any concerns. Maintaining contact with our retail real estate professionals has been a key component to Richardson’s successs.


New restaurants that have recently open, remodeled or will open soon:

  • Raising Cane’s received a permit for a pad site on S. Plano Rd. next to the Furr's Cafeteria which will be closing in December. Developer Edge Realty is planning to renovate the existing building for multi-tenants.
  • Frankie's Mexican Cuisine at II Creeks has expanded into the former Garden Shop space following in the footsteps of their sister restaurant Amigo's on E. Belt Line - start small and expand as business grows!
  • Kampong Asian Fusion restaurant at Eastside, across from Urban Eatz in the former Kinado Sushi Bar & Grill. A mixture of Malaysian, Chinese, Singaporean and Japanese, Kampong is a new Chamber and Dine Smart Dine Local member.
  • Zesty Mexican Bar & Grill has opened at 800 W. Arapaho at West Shore Dr. A very nice remodel of a former Burger King, the red and green exterior is a welcome addition to the West Side neighborhood. Inside you'll find a full bar and booth and table seating.
  • Taco Boulevard at 1891 N. Plano Road just south of Campbell Road. A family enterprise, they are open for breakfast and lunch only. Taco Boulevard is cooked “Mexico City Style.” The concept of their food revolves around “street style foods” that one would find in the streets of Mexico City. At Taco Boulevard, the food is prepared from scratch daily using only the freshest ingredients.

Recent activity at the Plano Rd. and E. Belt Line Rd. area is a good indication that this area of Richardson will be looking forward to several new retailers and new restaurants pads.

  • The vacant Albertson’s grocery store has a new owner!  A local Dallas developer, Leon Capital Group, has bought the building and is currently working on various site plan options.
  • Mike Leonard with Edge Realty Partners is working on plans to redevelop the current Furr’s Cafeteria and adjacent land at 350 S. Plano Road across the street from Richardson Square power center (Lowe’s, Anna’s Linens, Ross, Super Target, Sears).
  • CBRE has been hired by the Simon Group to develop some pads along E. Belt Line at the north end of Richardson Square as well as a 40,000 SF site for additional retail. Contact is Jeff Kittleson at CBRE.
  • Richardson Heights, leased by Tyler Isbell with SRS Real Estate Partners, continues to attract attention with the opening of the new Alamo Drafthouse Cinema. Tyler reports that there are a number of strong prospects in the works including restaurants as well as other types of retail.

  • Watch for the opening of the 7-Eleven and gas station at Brick Row on Spring Valley Road at Centennial Blvd.

Several new fitness tenants:

 

  • CrossFit Richardson, 970 N. Coit Road at Promenade North Shopping Center has leased 6,525 SF. is constantly varied, functional movements done at high intensity with the purpose of increasing your level of fitness over broad time and modal domains. They offer a free class on Saturday mornings at 9 a.m. John and Julia Marshall opened CrossFit Richardson in June of 2008. They both attended the University of Alabama where John has a Bachelor's Degree in Health Sciences and Julia has a degree in Dietetics. They live in Richardson with their two children.
  • Anytime Fitness has just signed a lease for 4,000 SF at Custer Creek Village, the Tom Thumb-anchored center at Renner Rd. and Custer Parkway.
  • Other Richardson Fitness Centers:

·        24 Hour Fitness –   NW corner of E. Campbell at Plano Rd.

·        LA Fitness – NE corner of Belt Line at Plano Rd.

·        Crull Fitness – II Creeks Plaza

·        Snap Fitness – SW corner of Renner Rd. at North Star

·        Curves: 819 W. Arapaho and 1144 N. Plano Rd.

 

Pre-leasing is underway for a 15,000 SF structure to be built on E. Renner Road between the new 7-Eleven and the new Breckinridge Park Animal Hospital. Chris Young with UCR is the leasing contact. The developer is Doug Huey, who also developed the other two corners on the North side of Renner.

 

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