REAL ESTATE

Dick’s Sporting Goods holds grand opening at Alliance Town Center

BY Michael Fickes

Fort Worth, Texas — Dick’s Sporting Goods is now open at Alliance Town Center in North Fort Worth, Texas. During the May 31 through June 2 grand opening ceremonies for the 50,000-sq.-ft. Phase II anchor, co-developer Trademark Property Co., announced plans to add 237,000-sq.-ft. of retail and restaurant space to the center.

“With Dick’s opening, we are well positioned to complete the current phase and proceed with our main-street lifestyle expansion,” said Trademark CEO Terry Montesi.

Montesi also noted that construction is underway on Razzoo’s Cajun Café, Pie Five and Cold Stone Creamery with announcements regarding other national retailers coming soon.

Groundbreaking on the 87,500-sq.-ft. balance of Phase II will commence this fall with completion scheduled for spring 2014, according to Trademark.

Trademark has also begun pre-leasing on a main-street lifestyle expansion that will open late 2014 or early 2015 with an estimated 150,000 sq. ft. of specialty retail and restaurants.

When completed, Alliance Town Center will host 1.3 million sq. ft. of retail, restaurants and entertainment.

A joint venture of Hillwood Development Co. (www.hillwood.com) and Trademark, Alliance Town Center is located on I-35W at Heritage Trace Parkway in North Fort Worth, part of the 17,000-acre Alliance, Texas, master-planned community, which is currently home to more than 33,000 jobs.

Other retailers currently open include Belk, J.C. Penney, Best Buy, Cinemark Theaters, Sam Moon, Rooms To Go, The Children’s Place, Jos. A. Bank, Kroger Marketplace, PetSmart and Ulta. Dining options include BJ’s, Olive Garden, Houlihan’s, Chick-fil-A, Cheddar’s, Which Wich, Zoes Kitchen, Jason’s Deli and Mi Cocina.

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REAL ESTATE

Stirling Properties and JCH Development to develop Magnolia Marketplace

BY Michael Fickes

New Orleans — Stirling Properties and JCH Development have announced a joint venture to develop the first 6,000-sq. ft. building of Magnolia Marketplace Shopping Center in New Orleans at the intersection of South Claiborne Avenue and Fourth Street. A second phase of the development will commence this fall at South Claiborne and Toledano.

Stirling and JCH have secured leases for 108,000 sq. ft. with national retail tenants. Stirling is currently negotiating with prospective tenants for the remaining space. When complete, the center will span 138,000 sq. ft.

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ABS Partners announces Foot Locker relocation in Manhattan’s SoHo district

BY Michael Fickes

New York — Following a two-year search, Foot Locker has moved one of its Manhattan locations from 541 Broadway to 440 Broadway in SoHo one block north of Canal Street, according to ABS Partners Real Estate.

ABS Partners negotiated a 10-year net lease on behalf of Foot Locker for a 9,000-sq.-ft. two-story building plus a lower level.

“During the prime hours of noon to 6 p.m. each day, more than 40,000 people walk past 440 Broadway,” said Joseph J. Sitt, CEO of Thor Equities, which owns the building.

The new Foot Locker location is in a rapidly developing section of Broadway, said Mark Tergesen, managing director with ABS Partners. “The rising rents and high demand for retail space on Broadway north of Broome has resulted in increased activity further south on Broadway towards Canal Street,” he continued.

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