REAL ESTATE

Seven new retailers for Alliance Town Center

BY Michael Fickes

Fort Worth, Texas — Trademark Property Co. has announced multi-year leases for seven new tenants soon to open in Alliance Town Center in North Fort Worth, Texas.

Carter’s (4,030 sq. ft.) and OshKosh (2,506 sq. ft.) signed 10-year leases and will open in February. Five Below (8,000 sq. ft.) signed a 10-year lease and will open in the late summer, while Men’s Wearhouse (5,500 sq. ft.), Shepler’s Western Wear (18,000 sq. ft.), and Sleep Experts (4,500 sq. ft.) have each signed 10-year leases with plans to open in September. America’s Best Contacts and Eyeglasses (3,122 sq. ft.) signed a five-year deal with plans to open in early 2015.

They join other previously announced new tenants including Razoos Cajun Kitchen and Pie Five, which recently opened, as well Cold Stone Creamery, DSW Shoe Warehouse, Haverty’s and Lane Bryant, all with plans to open this year.

Trademark has begun pre-leasing on a “Main Street” lifestyle expansion, the next phase of the project. Scheduled to open in late 2015, it will feature an estimated 175,000 sq. ft. of new specialty retail and restaurants, and a hotel.

Once completed, Alliance Town Center will be home to 1.1 million sq. ft. of retail, restaurants and entertainment.

A joint venture of Hillwood and Trademark, Alliance Town Center part of the 17,000-acre AllianceTexas master-planned community, a mixed-use urban center is currently home to over 33,000 jobs and 356 companies.

Hillwood continues its development of the area with the new six-story FAA Southwest Region office building under construction directly across from Alliance Town Center, as well as a specialty office building and multi-family directly east of Alliance Town Center.

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

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REAL ESTATE

Report: Future bright for brick-and-mortar retail

BY Marianne Wilson

New York — The future looks bright for retail stores. That’s the conclusion of a new report by the International Council of Shopping Centers. The report, set to be released in May during ICSC’s RECon Conference, finds that population growth in the United States is now outpacing the addition of retail space by three-and-a-half times.

“As a result, shopping space per capita, which peaked in 2009 at 24.2 square feet, now stands at 23.7. This correction will make way for demand in new retail space once again,” the report said.

According to ICSC research, announced store closings in 2013 decreased 43% versus the previous year. When new Census Bureau data becomes available, it is likely that both 2012 and 2013 were net positive in terms of new retail stores.

In another positive sign, pure online retailers are looking for physical space. The report cites such examples as women’s accessories retailer JustFab, which opened its first store in 2012.

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Ashley Furniture opens 500th store; 50 more due in 2014

BY Staff Writer

Arcadia, Wis. — Ashley Furniture HomeStore, the largest furniture retailer in the U.S., celebrated the opening of its 500th store in Longview, Texas, on Feb. 21. It is the chain’s 48th store in the Lone Star state.

The company, whose sales exceeded $3 billion in 2013, has 50 additional HomeStore openings on tap in 2014.

"When the first HomeStore opened in 1997 (in Anchorage, Alaska), we were confident that this business model would be capable of providing complete home furniture solutions that would meet or exceed consumer expectations in price, delivery and service," said Todd Wanek, president and CEO of Ashley and Ashley Furniture HomeStore. "It is with a tenacity to never stop innovating that our teams – from the local level to our corporate headquarters – have propelled our growth throughout the last two decades, and with the latest improvements to our operations and customer fulfillment systems, I’m confident that this trend will continue into the future."

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