In The News

2017

CLOSED DEAL SUMMARY :: April 21, 2017

PROPERTY LEASES:

• Fallo Group, Inc. dba San Daniele leased 4,234 square feet of space at The Gallery on Main Street for a future restaurant located at 129 S. Main Street in Grapevine, Texas. Preston T. Evans and Kenley LeBlanc of the John T. Evans Company represented the Lessee in the transaction. 

• Glo Sun Spa leased 2,542 square feet of space in the Valley Ranch shopping center located at 817 S. MacArthur Boulevard in Coppell, Texas. Lisa Butler and Kenley LeBlanc of the John T. Evans Company represented the Lessor in the transaction.

• Loco Gringo Taco Shack leased 1,400 square feet of space in the Woodbridge Center located at the SWQ of FM 544 and Woodbridge Parkway in Wylie, Texas. PJim Jamerson and Kenley LeBlanc of the John T. Evans Company represented the Lessee in the transaction. 

PROPERTY SALES:

• ACG Texas, LP purchased 1.05 acres of land in the Woodbridge Center located at the SWQ of FM 544 and Woodbridge Parkway in Wylie, Texas from Clark Street Development for the purpose of constructing an IHOP Restaurant. Jim Jamerson of the John T. Evans Company represented the Purchaser in the transaction.

• 2601 Gaston, LLC purchased 14,557 SF of land and 5,225 SF building at 2601 Gaston Avenue and 2615 Floyd Street in Dallas, Texas from Greenway Investment Company as an improved sale. Zach Berman of the John T. Evans Company represented the Seller in the transaction.

• SCSD-Finnell, LTD purchased 41,766.28 square feet of land for a future Dairy Queen located at 2845 West Airport Freeway in Irving, Texas. Jim Jamerson of the John T. Evans Company represented the Purchaser in the transaction.

What's assembling near Grand Prairie's new Ikea? Retail, dining pieces coming together

GRAND PRAIRIE -- If any big-box store can still claim to have that "build it and they will come" cachet, it's probably Ikea. A 290,000-square-foot Ikea is scheduled to open in the fall on State Highway 161 and Mayfield Road, just north of Interstate 20.

It's one of the pieces coming together across what was a 170-acre cotton field that city officials and developers say is an emerging retail corridor in southwest Dallas County.

More than 1 million square feet of retail and restaurant space is in the works along State Highway 161 north of Interstate 20 to Pioneer Parkway.

Ikea is across from this city's field of dreams, a huge $100 million-plus municipal parks and recreation project called the Epic with an 80,000-square-foot water park under a retractable roof. It's scheduled to be completed in November. Dallas-based HKS, the architect for the Dallas Cowboys' AT&T Stadium, is building it.

The overall project, called Grand Central Park, also has a wave pool and a 10-acre park designed to be accessible for people with disabilities that's scheduled to open in mid-2018. There are also an indoor sports facilities, an amphitheater and a library.

But the park project, even a huge one like this, doesn't grab the attention of developers, other retailers and restaurants quite like a big retailer with regional consumer pull.

"Ikea is a huge draw. Now I don't have to convince retailers and restaurants to come here," said Charlie Anderson, a developer who has 49 acres next to the Swedish home furnishings superstore. He plans to start building a mixed-use development by year-end. Final plans are due to the city later this month, and Anderson said they will include residential, hotel and retail space in a walkable setting.

MORE RETAIL

More retail development is being planned across empty fields on either side of 161, also known as the Bush Turnpike.

"It's going to be interesting to see what this area will look like two years from now," said Chad DuBose, who is developing a 10-acre parcel on the southeast corner of 161 and Arkansas Lane. It will have about 30,000 square feet of multi-tenant retail, and he has a commitment from Hilton to build a hotel.

This segment of Highway 161 was completed in 2013 and has three-lane frontage roads on either side for local traffic. Mayor Ron Jensen led an effort to build the city's Grand Central Park and the Epic facilities on acreage the city owned.

"We knew that 161 would open up all this land to development in the middle of a region with more than 6 million people," Jensen said. And in an area not overflowing with stores, he added.

The city was hoping for a large retailer to start off, "but we hadn't thought of Ikea," he said. The retailer found Grand Prairie as it was looking for a second location in North Texas.

WAL-MART, A NEIGHBOR

Ikea piqued interest from others, including Wal-Mart, which is opening a Supercenter a mile north of Ikea in June. Around the store parking lot is 20,000 square feet of other businesses such as Panda Express. The Wal-Mart corner just north of Arkansas Lane is a project by United Commercial Development.

Just south of the Wal-Mart is DuBose's parcel, which he said will be partially completed by the end of this year. John T. Evans Co. is leasing it.

Dallas-based Weber & Co. has submitted plans for the largest project to date, 500,000 square feet of retail and restaurant space on the northwest and northeast corners of 161 and Mayfield Road. Dallas-based Retail Connection is leasing the project, called Epic Towne Crossing.

The city of Grand Prairie built its police and fire building on the west side of 161 at Mayfield Road. Its Grand Central Park project, between Warrior and Arkansas, includes the Summit, a 60,000-square-foot adult athletic and leisure club for people over 50. It even serves beer and wine, hosts dances and has a movie theater.

The tollway is making it so much easier to get to this part of Grand Prairie, DuBose said. Going north along the 161 corridor and to its east, there's been little retail. But DuBose worries about the draw of power centers to the south along I-20 and Grand Prairie's proximity to Arlington's main shopping district.

City officials see the new area as complementary, strengthening Grand Prairie as a shopping hub.

"There are more than 20,000 jobs within an eight-minute drive of here, and that's a big increase in the daytime population," said Marty Wieder, Grand Prairie's director of economic development.

Grand Prairie and surrounding cities will have shopping comparable to other retail hotspotsaround Dallas-Fort Worth, Jensen said.

Grand Prairie Premium Outlets, a 432,000-square-foot center with a Bloomingdale's Outlet and Saks Off 5th, opened in 2012 on the north side of Interstate 20 between State Highway 360 and Great Southwest Parkway.

"If you look at what will be along a five-mile stretch [of I-20], residents won't need to go anywhere else," Jensen said. The region he describes starts to the west with the Parks at Arlington mall and the Highlands shopping center, goes east to the Grand Prairie outlet center, and over to Ikea and other retail developments being planned.

Scarce Ikeas

There are only 41 Ikea stores in the U.S. The scarcity of locations and its unique brand of furniture and accessories attract shoppers to Ikea on a regional level.

The Grand Prairie store will be convenient to dozens of cities south of Interstate 30 in Dallas and Tarrant counties and beyond.

The only other local Ikea is 40 miles north in Frisco. Ikea said last month that it will open a third North Texas store in Fort Worth in 2019. It will be at the southwest corner of Interstate 35W and North Tarrant Parkway.

In Grand Prairie, Ikea purchased 45 acres and is using 30 acres that face 161 for the one-level store and parking lot. It's keeping the other 15 acres behind it facing Mayfield for the time being, Ikea spokesman Joseph Roth said, in case it needs it.

Ikea likes to build one-level stores when land permits. They are less expensive to construct and maintain, he said. The Fort Worth store will also be one level.

The signature blue paneling is going up on the store's exterior, and it's on schedule for the fall opening. Ikea put a sign up on top of a 118-foot pole so it would be visible from I-20. The store will have a 450-seat restaurant, serving the chain's signature Swedish meatballs and other dishes.

The three stores in Collin, Dallas and Tarrant counties will cover the region like a triangle, Roth said.

"We're bullish on North Texas," Roth said. "We only have two stores in Chicago and already we're planning our third in Dallas-Fort Worth."

Its only other U.S. markets with three stores are New York-New Jersey and Southern California.

Twitter: @MariaHalkias

-- Maria Halkias of The Dallas Morning News - 2017.03.04  - VIEW ORIGINAL ARTICLE

CLOSED DEAL SUMMARY :: February 10, 2017

PROPERTY LEASES:

• The UPS Store leased 1,374 square feet of space at Broad Street Crossing located at 3540 East Broad Street in Mansfield, Texas. Chad DuBose, Jim Jamerson and Kenley LeBlanc of the John T. Evans Company represented the Lessor in the transaction. 

PROPERTY SALES:

• SCSD-Finnell, Ltd purchased 1.07 acres of land at the Southeast Corner of Heritage Trace Parkway and North Beach Street in Fort Worth, Texas from Hillwood Alliance Residential for the purpose of constructing a retail center. Jim Jamerson of the John T. Evans Company represented the Purchaser while Edward Bogel and David Davidson with Davidson Bogel Real Estate represented the Seller.

• SCSD-Finnell, Ltd purchased 0.911 acres of land for a future Schlotzsky's restaurant located at 1224 North Central Expressway in Plano, Texas. Jim Jamerson of the John T. Evans Company represented the Purchaser in the transaction.

• Tang Lu purchased 27,677 square feet of land with existing building for future improvements as a fast food restaurant located at 1400 I-35, S.W. in Hillsboro, Texas. Zach Berman of the John T. Evans Company represented the Seller in the transaction.

2016

CLOSED DEAL SUMMARY :: October 28, 2016

PROPERTY LEASES:

• Taco Diner leased 3,737 square feet of space for a future restaurant in The Shops of Lake Highlands located at 7150 Skillman Street in Dallas, Texas. John T. Evans and Chad DuBose of the John T. Evans Company represented the Lessee in the transaction.

• Starbucks leased 2,128 square feet of space in the Shops at Hudson Oaks Shopping Center located at the southwest quadrant of Highway 180 and Oakridge in Hudson Oaks, Texas. Walker Hairston of the John T. Evans Company represented the Lessor in the transaction.

• GNC (General Nutrition Corporation) leased 1,350 square feet of space in the Shops at Hudson Oaks Shopping Center located at the southwest quadrant of Highway 180 and Oakridge in Hudson Oaks, Texas. Walker Hairston of the John T. Evans Company represented the Lessor in the transaction.

• Primetalk USA dba Skytalk leased 1,225 square feet of space in the Shops at Hudson Oaks Shopping Center located at the southwest quadrant of Highway 180 and Oakridge in Hudson Oaks, Texas. Walker Hairston of the John T. Evans Company represented the Lessor in the transaction.

PROPERTY SALES:

• SCSD-Finnell purchased 2.658 acres of land at Elm Creek Crossing for a future Shopping Center located at 201 N. Interstate 35 in Gainesville, Texas. Jim Jamerson of the John T. Evans Company represented the Purchaser in the transaction.

Leon Capital Group purchased 1.236 acres of land for a future restaurant located at 3804 US Highway 377 in Granbury, Texas. Chad DuBose and Kenley LeBlanc of the John T. Evans Company represented the Seller in the transaction.

CLOSED DEAL SUMMARY :: April 8, 2016

PROPERTY LEASES:

• Mi Cocina Restaurant leased 5,029 square feet of space for a future restaurant location at Woodside Village, 110 West Sandy Lake Road in Coppell, Texas. John T. Evans and Chad DuBose of the John T. Evans Company represented the Lessee in the transaction.Landry's, Inc. leased 6,432 square feet of space for a future restaurant located at 411 E. Loop 281 in Longview, Texas. Chad DuBose and Kenley LeBlanc of the John T. Evans Company represented Landry's, Inc. in the transaction.Sugar Bacon Lakewood, LLC leased 5,400 square feet of space located at 6400 Gaston Avenue in Dallas, Texas. Lisa Butler and John T. Evans of the John T. Evans Company represented the Tenant in the transaction.PC Chicken, LLC leased 3,000 square feet of space for a future Slim Chickens Restaurant located at the 3600 Broad Street in Mansfield, Texas. Chad DuBose, Jim Jamerson and Kenley LeBlanc of the John T. Evans Company represented the Landlord in the transaction.Massage Envy leased 3,500 square feet of space within The Shops at Hudson Oaks located at the Southwest Quadrant of Hwy 180 and Oakridge Drive in Hudson Oaks, Texas. Walker Hairston of the John T. Evans Company represented the Lessor in the transaction.Providence Title Company leased 1,782 square feet of space within The Shops at Hudson Oaks for a future bank located at the Southwest Quadrant of Hwy 180 and Oakridge Drive in Hudson Oaks, Texas. Walker Hairston of the John T. Evans Company represented the Lessor in the transaction.

PROPERTY SALES:

• Solid Ground, LLC purchased 1.68 acres of land for a future restaurant site located at 1725 W. Southwest Loop 323 in Tyler, Texas. Chad DuBose and Kenley LeBlanc of the John T. Evans Company represented the Seller in the transaction. • Royse City Ice Cream Holdings, LLC purchased 0.966 acres of land for a future Dairy Queen Restaurant located at 494 I-30 Frontage Road in Royse City, Texas. Jim Jamerson of the John T. Evans Company represented the Purchaser in the transaction. • Sampexa, LLC purchased 65,340 square feet of land for a future retail store at the Southwest Quadrant of Beach Street and Golden Triangle Boulevard in Fort Worth, Texas. Craig Johnson of the John T. Evans Company represented the seller in the transaction. • Verdad Real Estate, Inc. purchased 70,300 square feet of land for a future retail store at the Southwest Quadrant of Beach Street and Golden Triangle Boulevard in Fort Worth, Texas. Craig Johnson of the John T. Evans Company represented the seller in the transaction. • Del Lago purchased 3.38 acres of land from Legacy Bank located at 700 and 720 East Arapaho Road in Richardson, Texas. Dan Garrett of the John T. Evans Company represented the purchaser the transaction.

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