Credit crunch sets stage for big shakeout in commercial real estate
Summary:
Date: 9/11/09
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Verizon Renewal/Expansion, Lewisville, Texas
Summary: After ten years of success in one of its best locations in the metroplex, Verizon has decided to expand and remodel their store in the Vista Grove shopping center in Lewisville, Texas. The expansion will bring Verizon’s space to 4,684 square feet. The location is in front of Vista Ridge Mall at the southeast corner of I-35 and Round Grove Rd. (F.M.3040). The renovation will be complete in late summer 2008. Verizon is one of the nations leading providers of wireless and wireline communications serving more than 67 million customers nationwide. Their web site address is www.verizon.com.
Date: 5/1/08
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Tuesday Morning Opening Summer 2008, South Padre Island, Texas
Summary: Tuesday Morning is opening a new store on South Padre Island. The new store is 6,225 square feet and will be located at Plaza 410, conveniently located across the causeway bridge in the first shopping center on the island. Tuesday Morning plans on opening the new store June 3, 2008. They decided to come to the island after opening successful stores in the nearby markets of Harlingen and Brownsville. Tuesday Morning is a dynamic retail chain of over 810 stores across the United States specializing in selling deeply discounted, upscale home accessories and gifts. Since inception in 1974, it has become a successful and nationally recognized company. Corporate activities originate from Dallas, TX and their web site address is www.tuesdaymorning.com.
Date: 4/1/08
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Mattress Giant Opening May 2008, Lewisville, Texas
Summary: Mattress Giant is relocating its Lewisville, Texas store. The new store will be located in the Vista Grove Shopping Center in a 5,000 square foot end cap location at the southeast corner of I-35 and Round Grove Rd. (F.M.3040). Mattress Giant decided to make this strategic decision to relocate from the southeast corner of I-35 and F.M.3040 because the new larger location has better exposure to I-35 and is located closer to Vista Ridge Mall. The new store is set to open in May, 2008. Mattress Giant is based in Addison, Texas and operates approximately 360 specialty mattress stores nationwide. Their web site address is www.mattressgiant.com
Date: 2/1/08
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Sleep Experts Opens New Location, Dallas, Texas
Summary: Sleep Experts recently opened at Prestonwood Court Shopping Center, located at the SE quadrant of Arapaho & the N. Dallas Parkway, in part of the former Larry’s Shoes space. The owners of Prestonwood Court recently completed a renovation of the building façade that provides increased signage visibility from the Tollway. Sleep Experts has 29 locations in the DFW Metroplex and chose to open in Prestonwood Court because of the visibility and location in front of the new Prestonwood Town Center development. www.sleepexperts.com.


Date: 1/31/08
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Pad Building Available at Collin Creek, Plano, Texas
Summary: Currently occupied by The Container Store, the 15,476sf hard corner pad building located in Collin Creek Village Shopping Center is available for lease. The building will be vacant by October 2009. Collin Creek Village is located in front of Collin Creek Mall at the NW corner of Hwy 75 & Plano Pkwy in Plano, TX. The center offers high traffic counts and excellent visibility. Tenants at Collin Creek Village include Marshall’s, Pier 1, Office Depot, FedEx Kinko’s, ULTA Cosmetics, Men’s Wearhouse, Sprint, Mattress Firm, Corner Bakery, IHOP, Jason’s Deli, & TGI Friday’s.

Date: 1/30/08
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