Margaux Development is expected to break ground on the $12 million Plaza del Oro in Cockrell Hill, Texas, on July 1. The 103,500-square-foot center will be anchored by a Centennial Fine Wine & Spirits.
The Golden Triangle retail center in the Dallas submarket of Denton is keeping a key tenant, Dillard's department store. Competing developers have tried to entice the store to nearby properties, but Golden Triangle's owners have agreed to upgrade the store as part of a $30 million renovation.
CIG Retail Properties has acquired a 170,739-square-foot retail center in the Dallas-Fort Worth area for an undisclosed sum. The complex, Garden Park Shopping Center, is 83% leased after adding nine new tenants over the past year.
American Realty Capital plans to acquire a Dallas-area retail center for $22.2 million. The property, Liberty Crossing Shopping Center, is a 105,861-square-foot retail center in the Rowlett submarket and is 95% leased by 16 tenants.
Two decades ago, restaurants accounted for 10% to 15% of shopping center leasing in the Dallas area, according to one expert. Today, that percentage has grown -- one new shopping center will lease almost 50% of its space to eateries -- and restaurants often serve as anchor tenants to attract traffic.