The 2740 Valwood Parkway space is the Gardena, CA-based retailer's seventh in Dallas/Fort Worth. The deal was struck in a direct deal with the Valwood Plaza Ltd. of Encino, CA, which has been quoting $6 per sf to $7 per sf, triple net, on its big box space. The end result of the talks was "a good deal for both parties," says Earl Harris with Dallas-based Weitzman Group.
The tenant's broker tells GlobeSt.com that National Stores Inc. is working on deals for two more North Texas locations for its Fallas Paredes concept. Harris stresses the retailer isn't adding shops to quickly boost the count, but rather selectively honing in on neighborhoods with a large Hispanic population, which is gaining in strength with its spending power on a daily basis. "It has to be the right situation and right rent in the right location in the right area," he says. The owner of 185 Fallas Paredes and Factory 2-U stores in Texas, California, Arizona, New Mexico and Nevada has picked a former antiques shop beside a Kroger grocery anchor. Details about the center's size and occupancy were unavailable.
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