Karen McCulley, executive vice president, and Jill Tiernan, senior vice president, of Dallas-based Weitzman Group are handling the leasing duties. Tiernan tells GlobeSt.com that talks are under way with a prospect for the lone 1,600-sf storefront in the lifestyle center, which is commanding a $30 per sf rate.
"What really drives this shopping center," Tiernan says, "are the sales per sf. It's well above the national average." It is positioned in a high-income area and one of Dallas' most prestigious. The average household income is $106,366 within a mile radius. The lifestyle center is one of the few in the Uptown and Highland Park neighborhoods so "this one really stands out," she says.
Talbot's is the anchor, leasing 6,600 sf. Other tenants are Chico's, Yves Delorme, Bombay and Sample House.
The 98%-occuped retail center was built in 1942 and underwent a major rehab in 2000. According to the Dallas Central Appraisal District, the Corrigan-owned property carries a 2001 assessed value of a little more than $7.8 million.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.