Last week, REDP’s retail lead, Sue Walker, attended the ICSC (International Council of Shopping Centers) Texas Conference
and Deal Making event in Dallas and
met with a number of retail prospects for Richardson Heights, E. Belt Line/Plano Road area, Coit Road and other Richardson shopping centers. The mood was very upbeat for deal
making with lots of interest in Richardson due to the massive State Farm project and other areas
working to attract new tenants. 

The retail plaza at
CityLine around the State Farm buildings was a big topic of
conversation among many restaurant prospects. There will be “grab ‘n go”
options, fast-casual as well as full-service type restaurants. We
anticipate that there may be some announcements before the end of the year both
at CityLine and from other Richardson sites.

A key strategies for keeping
in touch with local shopping center owners and brokers who lease Richardson centers has been a quarterly Richardson Retail
Consulting Group (REAL) luncheon event that Sue Walker has hosted for the past seven
years. The luncheon program not only provides an opportunity to receive current
information on Richardson, it is also a time for the center owners and brokers
to discuss issues impacting Richardson’s retail and tenant attraction. Issues
such as signage, landscaping and special use permits are always topics of
conversation. In addition, each attendee gives an update on their center and
shares information on new tenants and available space. At times, a city
manager or department head will give the city’s perspective and respond to any
concerns. Maintaining contact with our retail real estate professionals has
been a key component to Richardson’s
successs.

New restaurants that have recently open, remodeled or will open soon:

• Raising Cane’s received a permit for a pad site on S. Plano Rd. next to the Furr’s Cafeteria which will be
  closing in December. Developer Edge Realty is planning to renovate the
  existing building for multi-tenants.
• Frankie’s Mexican Cuisine at II Creeks has expanded into the former Garden
  Shop space following in the footsteps of their sister restaurant Amigo’s
  on E. Belt Line – start small and expand as business grows!
• Kampong
  Asian Fusion
  restaurant at Eastside, across from Urban Eatz in the former Kinado
  Sushi Bar & Grill. A mixture of Malaysian, Chinese, Singaporean and
  Japanese, Kampong is a new Chamber and Dine Smart Dine Local member.
• Zesty Mexican
  Bar & Grill
  has opened at 800 W. Arapaho at West Shore Dr. A very nice remodel of a former Burger
  King, the red and green exterior is a welcome addition to the West Side
  neighborhood. Inside you’ll find a full bar and booth and table
  seating.
• Taco Boulevard at 1891 N. Plano Road just south of Campbell Road. A family enterprise, they are open for
  breakfast and lunch only. Taco Boulevard is cooked “Mexico City
  Style.” The concept of their food revolves around “street style
  foods” that one would find in the streets of Mexico City. At Taco Boulevard, the food is prepared from scratch daily using only
  the freshest ingredients.

Recent
activity at the Plano Rd.
and E. Belt Line Rd.
area is a good indication that this area of Richardson
will be looking forward to several new retailers and new restaurants pads.

• The vacant
  Albertson’s grocery store has a new owner!  A local Dallas developer, Leon
  Capital Group, has bought the building and is currently working on various
  site plan options.
• Mike Leonard
  with Edge Realty Partners is working on plans to redevelop the current Furr’s Cafeteria and adjacent land
  at 350 S. Plano Road across the street from Richardson Square power center
  (Lowe’s, Anna’s Linens, Ross, Super Target, Sears).
• CBRE has been hired by the Simon Group to
  develop some pads along E. Belt Line at the north end of Richardson Square as well as a 40,000 SF site for additional retail. Contact is Jeff Kittleson at CBRE.

• Richardson Heights, leased by Tyler
  Isbell with SRS Real Estate Partners, continues to attract attention with the
  opening of the new Alamo Drafthouse Cinema. Tyler reports that there
  are a number of strong prospects in the works including restaurants as
  well as other types of retail.
  
  
• Watch for the opening
  of the 7-Eleven and gas
  station at Brick Row on Spring Valley Road at Centennial Blvd.
  
  

Several new fitness tenants:

• CrossFit Richardson, 970 N. Coit Road at Promenade North Shopping Center has leased 6,525 SF.
  is constantly varied, functional movements done
  at high intensity with the purpose of increasing your level of fitness over
  broad time and modal domains. They offer a free class on Saturday mornings
  at 9 a.m. John and Julia Marshall opened CrossFit Richardson in June of 2008.
  They both attended the University of Alabama where John
  has a Bachelor’s Degree in Health Sciences and Julia has a degree in
  Dietetics. They live in Richardson with their
  two children.
• Anytime
  Fitness has just signed a lease for 4,000 SF at
  Custer Creek Village, the Tom Thumb-anchored center at Renner Rd. and
  Custer Parkway.
• Other Richardson Fitness
  Centers:

·       
24 Hour Fitness
–   NW corner of E. Campbell at Plano
Rd.

·       
LA Fitness – NE corner
of Belt Line at Plano
Rd.

·       
Crull Fitness –
II Creeks Plaza

·       
Snap Fitness – SW
corner of Renner
Rd. at North
Star

·       
Curves: 819 W.
Arapaho and 1144
N. Plano Rd.

Pre-leasing
is underway for a 15,000 SF structure to be built on E. Renner Road between the new 7-Eleven and
the new Breckinridge Park Animal Hospital. Chris Young with UCR is the leasing
contact. The developer is Doug Huey, who also developed the other two corners
on the North side of Renner.