REAL ESTATE

Warby Parker to open 1950s classroom-styled store in Dallas

BY Marianne Wilson

New York — Online eyewear retailer is opening its sixth retail location, a 1,050-sq.-ft. store in Dallas. It will open on June 18.

The store will have a 1950s classroom look, with books, chalkboards, globes and apples, dallasnews.com reported. A sculpture of a pencil will stick out of the roof, and an old-fashioned yellow school bus will be parked outside. (The same bus visited several U.S. cities last year on the Warby Parker’s “Class Trip” promotion.) The bus has been fitted with leather sofas and oak shelves to house Warby Parker’s nonprescription sunglass selection.

“Shoppers’ expectations are so much higher now because they have so many choices, partly because of e-commerce,” said Warby Parker co-founder Neil Blumenthal, in the report. “So to stand out, the best retailers will create the best experiences because shopping is also a form of entertainment.”

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REAL ESTATE

City Furniture expands in Florida

BY Dan Berthiaume

Taramac, Fla. — Furniture retailer City Furniture is completing a $17.5 realignment of its South Florida retail network with the opening of a new 34,000-sq.-ft. Ashley Furniture HomeStore in Cutler Bay, Florida. This location is adjacent to a 56,000-sq.-ft. City Furniture showroom that opened in October 2013, creating a 90,000-sq.-ft. superstore.

City Furniture, which is the Southeast and Southwest Florida licensee for Ashley Furniture HomeStore, added or renovated five South Florida stores since 2012 and plans to open three more Ashley Furniture HomeStore locations and another City Furniture showroom in South Florida in the next three years. The company is also researching possible sites for future expansion in the Tampa and Orlando markets, as well as in Miami-Dade County.

“This opening is a significant milestone in our strategic plan,” said City Furniture president Keith Koenig. “We’ve, reconfiguring our company to do a better job meeting customers’ needs. At the same time, we’ve geared our expanded product lines and great values to consumers’ evolving tastes.”

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Baker Katz sells Cleveland, Texas, shopping center

BY Michael Fickes

Cleveland, Texas — Baker Katz has sold the 11,438-sq.-ft. Cleveland Shopping Center in Cleveland, Texas. Baker Katz facilitated the transaction with a local investor. Financial details remain private.

The shopping center is located on Southline Street near Cleveland’s busiest thoroughfare with well-known retailers such as a Wal-Mart Supercenter and H-E-B nearby. With an occupancy rate of 100%, the center is home to a number of national credit companies, including EZ Loan, OneMain Financial, Jackson Hewitt Tax Services, as well as Verizon Wireless, Nail Art, Domino’s Pizza, Enterprise Rent-A-Car and Armed Forces Career Center.

Baker Katz purchased the property in 2005, when it was home to a used-car dealership, and redeveloped it into the current retail center.

Baker Katz is an X Team International partner and full-service commercial real estate brokerage specializing in retail tenant representation, project development, leasing and investment sales.

X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation.

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