Trophy Investments tapped the Staubach Co. team of Lynn Dowdle, vice president, and Elizabeth Farrell, associate, to re-brand and re-tenant the shopping center into a 21-acre, class A retail destination. If the plan stays on course, construction could be wrapping up by year's end at 6323 and 6333 Camp Bowie Blvd. and keys turning for finish-outs.
The center was 70% leased in January when Trophy Investments and several local investors bought it. At that time, David Burgher, one of Trophy's partners, promised to create a "special" retail experience by re-branding, re-energizing and re-tenanting a tired center into a development much like Kierland Commons in Scottsdale, AZ. To help achieve the goal, Kierland's world-class architect and Burgher's longtime friend, Brad Nelsen of Scottsdale and Austin, was hired to update and redesign the Mediterranean and Spanish-style complex.
Dowdle says the asset's physical redesign is a strategic part of the marketing strategy. Nelsen's incorporated a courtyard at the center's backside as a shopping, dining and entertainment nook to draw in retailers and customers and shuffle demand from the Camp Bowie frontage. To seed the synergy that Trophy hopes to create, the team is now weeding the tenant roster to see who goes, who stays and who will be courted to join in the play, Dowdle tells GlobeSt.com. When the final cut's done, Dowdle and Farrell will begin chasing high-end national and regional tenants for an eclectic mix of restaurants and retail to build a roster from jazz bars to sandwich shops. The going-forward rate will range from $20 per sf to $26 per sf.
Dowdle says the International Conference of Shopping Centers brought inquiries from national names that would be new to the region. And while no deals are close enough to discuss, she says talks are underway with a restaurateur, featuring nighttime entertainment, as well as owners of several other well-known dining establishments in Dallas/Fort Worth. "We are going to make this a destination center," she vows.
© 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.