What was old is new again in Texas retail as a slowdown in new construction prompted retail developers to get creative to meet demand.
“That has sparked the market for renovations,” says Weitzman President &
CEO Marshall Mills. “Our asset management team is currently directing or has recently completed 14 renovations in D-FW. These projects range in size from 50,000 square feet to more than 350,000 square feet, but they will not increase the D-FW retail inventory by a single square foot.”
An example is Fielder Plaza, a community center that opened around four
decades ago as one of Arlington’s first grocery-anchored shopping centers.
“Our renovation helped boost occupancy and attract new shoppers who had largely bypassed the aging center,” Mills says.
Taking a cue from Weitzman, Tom Thumb then renovated and modernized the interior of its anchor store, expanding existing departments and adding new ones.
“The renewed Fielder Plaza has attracted strong new tenancy such as Al’s
Hamburgers, the iconic 60-year-old burger joint with a strong following; the largest Texas location of Hand & Stone Massage and Facial Spa; and a new 7,000-square-foot Workout Anytime fitness facility,” boasts Mills. Click to read more at www.rednews.com.