Retail tenant interest never been stronger in Richardson

05/29/2014

Restaurant and retail activity in Richardson is off to a great start in 2014. Momentum and excitement due to CityLine and other new projects continue to grow, and interest from prospective tenants has never been stronger. Here’s what’s new in 2014.

 

CityLine Update:

 

Here’s a quick look at the master plan layout of CityLine development by KDC showing development on both sides of Plano Road, north of Renner Road. Restaurants and retail are being located on the ground floor of the State Farm buildings currently under construction at President George Bush Turnpike and Plano Road.

 

Restaurant Activity

 
Restaurant Park, a new restaurant development on the west side of US 75, south of Belt Line Road (site of the old Continental Motel and adjacent properties), has been approved by the Richardson City Council. Richardson Restaurant Park developer Kirk Hermansen, principal of Hermansen Land Development, will begin finalizing tenants and plans to break ground later this year. 

Kirk is a highly respected Dallas-based retail/restaurant developer having developed over two million square feet of retail projects throughout the southern United States. He is known in this area for projects such as Shops at Starwood, FriscoMarketCenter, Shops at HighlandVillage and other restaurant developments.
 
  Famed restaurateur Larry Lavine, founder of Chili’s and principal of the Turtle Creek Restaurant Group, is doing a major renovation on the former K&G Menswear building at 1050 N. Central Expressway for his new 14,000-square-foot venture, Ten50 BBQ. Ten50 BBQ is a Central Texas-style barbecue joint, complete with big smoker ovens in an open, covered entry. Larry plans to open later this summer.  

It will soon be taco time for customers at the Alamo Drafthouse and others heading to Richardson Heights Shopping Center when the third Dallas-Fort Worth branch of Taco Joint opens in late summer. The Dallas-based, Austin-style taqueria has leased 6,800 square feet next to Party City. Known for their amazing breakfast tacos, they will have daily specials and a full bar with 14 taps. The Richardson location will also feature a large banquet room with catering for business and community meetings.

 


In mid-March, Applebee’s broke ground on their new Richardson restaurant on the northwest corner of Belt Line and N. Plano Road. The original Applebee’s located east of the Sears store on E. Belt Line was the very first Applebee’s in Texas; it was at that location for 25 years. The new building will be Applebee’s latest prototype and only the second one to be built in Texas. They expect to open in July.

Raising Cane's #155 is about to complete their new Richardson site at 320 S. Plano Road, next to the entrance to Burlington Coat Factory. The site was on the north end of the former Furr’s Cafeteria tract which was purchased last summer by Dallas-based EDGE Realty Partners.  

Mena’s Tex Mex Grill opened at the Eastside development on E. Campbell Road at US 75 and has received raving reviews. This long-time family-owned restaurant out of Carrollton has created an attractive setting that has quickly become a Richardson favorite.


Fadi’s Mediterranean Grill, a Houston-based restaurant with Dallas area locations at Knox-Henderson, N. Dallas/Preston Road and Frisco, is remodeling the former Humperdink’s at 1601 N. Central Expressway. Watch for their opening this summer.

 

Nico’s Tex-Mex Cantina has had a location in northeast Richardson at 4101 E. Renner Road since 2008. They are opening their second Richardson location in the former Applebee’s at 1610 E. Belt Line. The new location is being remodeled and will feature a large patio for al fresco dining.

 

Monta Ramen, a new Asian concept, is coming to Richardson from Las Vegas. Monta Ramen leased space at 800 N. Coit Road in the Promenade North Shopping Center. There are two Monta locations in Las Vegas. One publication credits it with setting ‘ramen on fire’ in Las Vegas; another called it ‘some of the best ramen outside of Tokyo.” Monta Ramen serves ‘Kurume’ style Tonkotsu Ramen, a broth made from selected pork bones and the unique soy sauce imported from Japan. Watch for their opening this summer.

 

Kiwi Mediterranean Grill has opened at 1608 E. Belt Line Road, featuring fresh and healthy Mediterranean cuisine from authentic family recipes.

 

Acquisitions:

 

Leon Capital Group continues to invest in Richardson. Last year they completed the acquisition of the former Albertson’s site on E. Belt Line at Plano Road, and recently closed on the retail building at 110 W. Campbell Road

 

The sale of Arapaho Village Shopping Center located at 819 W. Arapaho Road was recently finalized. The center is anchored by Tom Thumb, which remodeled this longtime Richardson store in 2010 and extended their lease ten years.

 

The 74,150-square-foot building at 300 S. Plano Road, leased by Burlington Coat Factory, has been purchased by an out-of-state investor.

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