Shopping Centers Today

DEC 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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quarter of this year alone, the Dallas–Fort Worth market delivered up some 460,000 square feet of retail, according to JLL, as developers try to keep pace with the nearly 1 million new residents who have arrived there since 2010. Beck Ventures bought the Valley View Center in 2012 and demolished it to make way for a $4 billion redevelopment called Dallas Midtown, with o„ce towers, a hotel, residences, a 20-acre park and 400,000 square feet of retail space on o†er. Anchoring the retail segment will be the largest Life Time Fitness facility ever built, at 183,000 square feet, and a 10-screen Cinépolis theater. Beck Ventures says the Œrst phase is set for completion by late next year. Early this year Simon completed the second phase of its Shops at Clearfork open-air luxury center, in Fort Worth, Texas, bringing in an AMC Dine-In Clearfork 8 and a Pinstripes bowling and boccie facility, along with several new restaurants. Meanwhile, Victory Park, in downtown Dallas, is adding some 85,000 square feet of retail space this year, including about a dozen food-and-bev- erage concepts and a Cinépolis cinema. —e 20-year-old mixed-use development, a property of Estein USA, already features 220,000 square feet of retail, food and entertainment. —e Shops at Broad, under construction in MansŒeld, Texas, south of Arlington, will feature 430,000 square feet of retail by the time of its completion next year — including Academy Sports & Outdoors, At Home, Belk and Flix Brewhouse. A 106,000-square-foot HEB is slated for that same site. In —e Colony, north of Dallas, construction of a 325,000-square-foot Scheels sporting- goods superstore is under way near Nebraska Furniture Mart. Houston has cooled its torrid development pace but is still on track to add some 2.3 million square feet of retail this year, o† from 2.8 million in 2017 and 3.4 million in 2016, according to Weitzman. Grocers dominate the pipeline here, with an HEB building leading the supermarket parade, in the form of six new Houston-area stores. Mehta Investments, which bought West Oaks Mall out of bankruptcy in 2017, also purchased the separately owned, 243,300-square- foot Macy's space later that year for conversion to —e Outlet at West Oaks, for value-priced brand- name merchandise. At press time the outlet center was set to open by year-end.

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