Existing Center Health is Catalyst for Record Occupancies
Redevelopments are providing retail boosts for DFW such as the completion of Trinity Plaza, followed by a planned renovation for Trinity Valley, a Carrollton retail landmark with a newly opened WinCo Foods.
CARROLLTON, TX—Development began in earnest in the early 1970s at the intersection around Trinity Mills Road (now widened and rebuilt as SH-190) and Josey, as Carrollton became as one of Dallas’ first major northern suburbs. And now, the just-completed renovation of a well-known neighborhood center, Trinity Plaza, is a major step toward the redevelopment of approximately 350,000 square feet of retail space at the North Josey Lane and SH-190/President George Bush Turnpike intersection.
The first renovation completely redeveloped Trinity Plaza, adding a new facade, signage, landscaping, seating areas, parking and lighting to the center. Trinity Plaza’s new facade incorporates LED-lit signature towers with color options for special events or seasonal shopping.
In addition, the redevelopment added new spaces for both a junior anchor and a restaurant. Negotiations are ongoing for both spaces and the restaurant space represents an endcap with a patio that offers visibility and access from both Trinity Mills and Josey Lane. The renovation also added pedestrian-friendly lifestyle elements, including arbors, landscaping and seating.
The architect for the remodel is Hodges & Associates. Vice president and asset manager Joe Lea directed the renovation on behalf of the center’s ownership and Weitzman’s Kathy Detrick oversaw construction of the renovation project. Weitzman’s Matt Luedtke and Byron Howard direct leasing at Trinity Plaza. Weitzman handles property management for the center and the property manager is Zoe Lopez.
The center incorporates 59,438 square feet of retail space and features a tenant mix that includes Café Brazil, Party City, O’Reilly Auto Parts, Cuba Bella Café, Sabu’s Indian Market & Kitchen, Silk Threads and Clip Cuts.
Following the completion of Trinity Plaza, a renovation is planned for the retail that occupies the northeast corner of SH-190 and Josey Lane. That center, Trinity Valley, is a Carrollton retail landmark that continues to remain relevant with new tenancy and a collection of popular shops, services and restaurants. The renovation is designed to reflect that relevancy with an updated facade, enhanced signage, new specialty lighting, landscaping and lifestyle elements to add to the pedestrian appeal of the center.
“We’re fortunate to work with two adjacent centers that in the years since they first opened have benefited from increased access, visibility, and residential and commercial density,” Lea tells GlobeSt.com. “The upgrades ensure that these centers will be viable for years to come. Now that the renovation of Trinity Plaza is complete, we plan to begin work on Trinity Valley during the first half of 2019. The center already has the powerful draw of a new WinCo Foods that opened earlier this year, and it is well leased with leading junior anchors and national, regional and local retailers, restaurants and services. The upgrade will make sure that customers continue to see these projects as the best shopping options in the trade area.”
Trinity Valley, incorporating approximately 275,000 square feet of retail space, is anchored by the 85,000-square-foot WinCo Foods, which demolished a vacant anchor space for the construction. Other anchors include Ross Dress for Less and Petco. Popular retailers at the center include Claire’s, Dress Barn, GameStop, Famous Footwear, Sally Beauty Supply, Lane Bryant, Bath & Body Works, rue21, Payless ShoeSource, Plato’s Closet and several others. Dining options include Chili’s, Jack in the Box, Inca’s Café, Dickey’s Barbecue, Zero Degrees and Cuban Dulceria International Bakery, ranked as one of Carrollton’s best restaurants.
The improved health and occupancy of existing centers is a major reason that the DFW market continues to report its highest occupancy rates in years, says Weitzman in its latest retail report. Examples of redevelopments and backfilled vacancies in those existing centers include the new WinCo Foods at Trinity Valley center.
“Weitzman, with support from the city of Carrollton, is making a significant investment in keeping these popular shopping destinations relevant for today’s customer,” said Herbert D. Weitzman, executive chairman of Weitzman. “In addition, we have rolled out full digital marketing packages for these centers, including websites, social media pages, location-enabled retailer outreach programs and promotions. These changes, along with the additions of our expansive lifestyle package, will ensure that these landmarks remain viable and relevant for years to come.”
According to the report by Weitzman, the DFW retail market activity, especially retail leasing demand and store growth, is boosted by the metro area’s economy, which ranks as one of the strongest in the country. In terms of population, the DFW metro area ranks as one of the fastest-growing in the country. Currently, the market’s population totals 7.4 million people, an increase of 41.8% since 2000. The outlook for the DFW retail market in 2018 remains positive as retail is supported by growth in the key areas of population, jobs, and single- and multifamily housing construction.