Once the largest livestock market in the country during the Cattle Drive Era, over the last 30 years Fort Worth’s National Historic Stockyards District has evolved into a tourist destination founded upon Western authenticity. Today, the storied neighborhood is undergoing a multi-million-dollar redevelopment that is bringing the neighborhood into a new era.

The Stockyards Heritage Development Company, a partnership between The Hickman Properties and Majestic Realty Company, announced plans to redevelop the neighborhood in 2014 with new retail, dining, hotel and residential offerings designed to preserve the district’s rich history with an elevated aesthetic.

The redevelopment kicked off in 2018 in Mule Alley, which originally housed the horse and mule barns in the neighborhood’s heyday. Developed by Fort Worth-based M2G Ventures, the first $500 million dollar phase encompasses carefully-curated hotels, dining and retail space that embody a modern Western identity. The revitalized space preserves the architecture of the historic barns, with haylofts and catwalks intact. Click to read more at www.rednews.com.

In retail, few things are constant, but one thing Texas CRE professionals can always count on is that more rooftops generate more retail demand. And those rooftops are going up as fast as they can in the Dallas-Fort Worth area. “Retail here is on the heels of white hot with cautious optimism,” says Jennifer Pierson, Managing Partner of STRIVE. “The reason I temper it a little bit is because we had such a robust Q2 and Q3 of last year and a robust
Q1 of this year, but we’ve just had our first interest hike and it hasn’t slowed anything down yet, but we’re wondering if it will.”

When she says robust, she means it. STRIVE sold 107 properties last year and already in 2022, Q1 numbers doubled.

“That’s a lot of product,” Pierson says.

That product is at a premium right now, according to Steve Zimmerman, The Retail Connection’s Managing Director in Brokerage.

“The supply of quality available space is very low due to the extreme lack of new development,” he explains. Click to read more at www.rednews.com.

esrp—a leading tenant advisory firm headquartered at The Star in Frisco—has merged with Chicago-based Cresa, which calls itself the world’s largest occupier-focused CRE company.

Founded in 2013, esrp assists clients in over 40 countries, providing multi-market corporate and occupier advisory services. Its clients have included NTT DATA Services, Riddell, Mattress Firm, 7-Eleven, and Neiman Marcus.

esrp’s nearly 50 team members will now be added to the Cresa platform. esrp will lead Cresa’s existing Texas teams through its HQ at The Star, its office in the Dallas Arts District, and Cresa’s Houston Galleria office. A key goal moving forward will be building a stronger presence in Austin, Cresa says.

esrp has Dallas Cowboys connections

esrp was founded as E Smith Realty Partners, with Emmitt Smith as one of its three founding partners. The company spun out from E Smith Legacy Holdings in 2017, parting ways with Smith and changing its name to esrp. But that’s not the company’s only Cowboys tie: Founding partner and CEO Sharon Morrison started her career in the industrial division of The Staubach Co., learning the ropes from the greatest Cowboy of all. Click to read more at www.dallasinnovates.com.

JLL Capital Markets announced today it represented a CIM Group-fund and Open Realty Advisors in the sale of the partnership’s 15 standalone and strip retail buildings totaling 123,960 square feet along the dynamic and pedestrian-friendly Henderson Avenue in Dallas, Texas.

Acadia Realty Trust acquired the asset in its entry into the Dallas-Fort Worth market.

Property tenants include Sprouts Farmers Market and an eclectic mix of service-oriented and locally inspired retailers, restaurants and night life such as Warby Parker, The Skellig, Tecovas, Bonobos, and CorePower Yoga brought to the area by CIM Group and Open Realty Advisors. The portfolio also includes several parcels for future development opportunities.

The portfolio spans over a mile within Dallas’s urban core and within the Henderson Avenue district, which has evolved over the last 20 years into one of Dallas’ premier mixed-use neighborhoods. The trendy district is surrounded by desirable, affluent residential communities and near Southern Methodist University’s more than 12,000 students.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Ryan Shore, Chris Gerard and Co-Head of JLL Retail Capital Markets Barry Brown, Associate Erin Lazarus and Analyst Beth Copeland. The same team along with Senior Managing Director Todd Savage completed the sale of Knox Park Village on behalf of the seller earlier this year.

According to JLL’s Retail Capital Markets team in Dallas, “Henderson Avenue has emerged as Dallas’ ‘cool-street’ retail destination, where young, millennial residents are drawn to the mix of digitally native brands and trendy local restaurants that the ownership team brought to this east Dallas neighborhood.”