The retailer inked a five-year lease for a 7,591-sf freestanding building in the center, a five-building development at 7744-8008 Texas 121 at its junction with Parkwood Boulevard, according to Elizabeth Nabholtz with Dallas-based Weitzman Group. She and Weitzman broker David Schnitzer have assembled a mix with 75% of the tenants from the furniture industry.
Zuri now operates out of 42,000-sf warehouse at 4880 Alpha Rd. in North Dallas. Nabholtz tells GlobeSt.com that a cold call produced the deal for the Shops at Preston Ridge, where Zuri's finish-out will get underway within 30 days so the store can open in the summer. "I got lucky," she adds. Ali Arian with Garcia, Liesner & Arian Commercial Brokerage in Dallas represented Zuri, which sells designs from Italy, Asia, Europe, Canada and the US.
Zuri is taking one of three freestanding single-tenant buildings, getting a spot beside Eurway Modern Design and Anderson Furniture Gallery in a project tucked between IKEA and Stonebriar Centre. The development's other two buildings are multi-tenant, with Ashley Furniture and Rooms to Go in part of the space. Nabholtz says the team's down to just 1,600 sf to fill. Larger spaces in the Shops at Preston Ridge were quoted at $25 per sf, triple net; small shop space, $32 per sf.
Nabholtz says it hasn't been easy to assemble the specialty niche in the past 1.5 years that she's been on the project, developed by Dallas-based Oakridge Investments Inc. "Ultimately, a couple retailers thought they needed to be there," she says. "At the end of the day once one or two furniture retailers decided to go for it, it made sense for the others."
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