REAL ESTATE

Fresh Market, Grimaldi’s Pizzeria to WestBend in Fort Worth

BY Michael Fickes

Fort Worth, Texas — The Fresh Market and Grimaldi’s Coal Brick-Oven Pizzeria will open locations at WestBend, a mixed-use development in Fort Worth, Texas, owned by Trademark Property Co.

Scheduled to open in early 2015, The Fresh Market will occupy a 21,000-sq.-ft. space on the site of a former parking garage. Demolition of the garage has been completed, and construction will soon begin on a new 81,150-sq.-ft. building that will house The Fresh Market and a trailside café, with 57,650 sq. ft. of Class A office space above.

In addition, Grimaldi’s Pizzeria will open a 3,950-sq. –ft. restaurant with a large trailside outdoor patio in the early spring of 2015.

Since 1992, Trademark Property Co. has invested in or developed over 10 million sq. ft. of retail and mixed-use assets worth over $1.25 billion.

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REAL ESTATE

Sold: Willow Pass shopping center in Concord, Calif.

BY Michael Fickes

Walnut Creek, Calif. — John Cumbelich & Associates, a San Francisco Bay Area-based commercial real estate firm, has announced the sale of 1280 Willow Pass, a 73,167-sq.-ft. shopping center in Concord, Calif.

X Team International partner, John Cumbelich & Associates, represented both the buyer and the seller in the transaction, which attracted multiple offers.

Cumbelich also represented the seller in securing a 57,000-sq.-ft. lease with Hobby Lobby, which brought the property to 100% occupancy, prior to marketing the shopping center. The new Hobby Lobby will be one of the chain’s first Northern California stores.

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REAL ESTATE

RadioShack opens concept stores in China, Malaysia

BY Dan Berthiaume

Fort Worth, Texas – RadioShack has opened two new concept stores in China and Malaysia, marking the brand’s most recent moves throughout Asia and Southeast Asia.

Working with joint venture partner FIH (First Honest Enterprises Limited), RadioShack introduced its first concept store in China on March 21 with a grand opening ceremony at Huacao Town, Shanghai. RadioShack and franchise partner Berjaya Retail Berhad also relaunched a completely renovated existing store at Mid Valley Megamall in Kuala Lumpur, Malaysia on March 26.

RadioShack plans to open at least 15 future locations over the next year in key markets throughout Asia. RadioShack has an existing long-term master franchise agreement with Berjaya RadioShack Sdn Bhd., a subsidiary of Malaysian retailing conglomerate Berjaya Retail Berhad, which calls for Berjaya to expand the electronics chain across 10 countries in Southeast Asia in the next 10 years.

These two new stores represent the second and third international concept stores for the brand, following the November 2013 debut of its international concept store in Bangsar, Kuala Lumpur. In the time since RadioShack introduced its first concept store in New York City in June 2013, the brand has opened 30 concept stores in the U.S.

Features of RadioShack’s new concept stores in China and Malaysia include interactive displays that enable shoppers to find and compare products, including demo stations where they can explore products among leading brands before buying, as well as a speaker wall where customers can browse and compare different speakers by listening to music installed on in-store tablets.

"International expansion remains a growth opportunity for RadioShack, and we are excited to continue to introduce our reinvigorated, interactive store experience to consumers in Malaysia and China," said Joe Magnacca, CEO of RadioShack. "Our expansion will take us into both emerging and established tech markets abroad, and we believe this new store environment, combined with our knowledgeable, collaborative store associates, will allow RadioShack to become a destination for the expanding technology needs in these international markets."

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