Recent Retail Leases in Dallas

FOR IMMEDIATE RELEASE
Houston, Texas, United States of America (Free-Press-Release.com) January 6, 2012 -- n the recent quarters, the Dallas market has noted significant changes in retail occupancy. Compared to the third quarter of 2010, occupancy shows a decrease of 1% in the same quarter this year. Comparing the first and third quarters of 2011, average rent has decreased by 0.03%. Some of the recent leases recorded in the retail market of Dallas are as follows:

In the month of November, Spec's Wine, Spirits & Finer Foods has leased the Former Toys R Us – Northpark, a 45,000 square-foot retail center located at 9500 North Central Expressway, Dallas County, from Glen Lakes Properties LP. The single tenant building is 100% leased with average rents at $1.67 per square-foot. The retail building is located on the east of N Central Expy, to the west of Golf Lakes Trial and to the south of Walnut Hill Lane. The property has access to N Central Expy and Golf Lakes Trial. The single tenant property is anchored by Toys R Us #7820. According to the appraisal district records, the total assessed value is $2.56million. Completed in 1989, the property is situated on 1.74 acres. The gross building area of the building is 44,780 square-feet and rent type is triple net. Jeff Brand of the Dallas office of Brand Capital Partners represented the tenant, while Robert Wright of Strategic Retail Advisors represented the landlord.

One of the most significant leases in the month of September is the lease of Westmoreland Heights Village. Planet Fitness has leased 17,243 square feet at Westmoreland Heights Village, a 108,000 square-foot, neighborhood shopping center located at 3100 Falls Drive in southwest Dallas, Dallas County , from Component Capital Group. The 58-year-old property is 78% occupied. The property is a neighborhood center and is located on the south of Falls Dr, to the east of S Westmoreland Rd, to the north of Dutton Dr and to the west of S Barnett Ave. The property has access to Falls Dr, S Westmoreland Rd and S Barnett Ave. The multi tenant property is unanchored. According to the appraisal district records, the total assessed value is $3.51million. The property is situated on 2.28 acres. The gross building area of the building is 107,833 square-feet and rent type is triple net. Major tenants include Taqueria, Little Caesars Pizza, Family Dollar, Del Norte Bakery, Ad Nail and 99 Srote. Ben Edelstein of Kenny Dryden Investments represented the tenant. Marcelo Pippa represented the landlord in-house.

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