Shops at La Palmera Scores Goal,Lands Dick's as Tenant

CORPUS CHRISTI, TX-Dick's Sporting Goods, one of the largest sports and fitness specialty retailers in the US, is taking down 61,233 square feet at 200,000-square-foot Shops at La Palmera. The sporting goods retailer will anchor the redeveloped and rebranded center, located across from the La Palmera mall.

According to Terry Montesi, chairman and CEO of the Fort Worth-based center owner Trademark Property Co., Dick's and Corner Bakery Café, which is leasing 4,166 square feet in the center, are the first to tenants to sign for space at the renovated center on South Padre Island Drive.

"They're the first to go into the major renovation," he tells GlobeSt.com. "There were a few tenants remaining from when we bought it, but there will be substantial turnover. These are the first new tenants and we're negotiating leases with several more." Montesi goes on to say that Trademark should be able to announce more tenants within the next 60 days.

According to a press release from center owner Trademark Property Co., buildout on the Dick's space will begin in February, with the store opening later in 2013. Also coming to the shopping center at South Padre Island Drive is Corner Bakery Cafe, which has leased 4,166 square feet and will open this May.

The initial renovation and construction work has already begun at The Shops at La Palmera, which will undergo a major redesign to be completed in late 2013. The new design of the property will complement that of La Palmera, which is located across from The Shops at La Palmera. La Palmera underwent a two-year $50 million renovation after Trademark and Institutional Mall Investors LLC purchased the property in 2008.

Montesi says construction Is involving a great deal of demolishing and rebuilding – "a major overhaul," he calls it. He also says that, based on the current interest and activity, the center should be substantially leased by the end of the year.

"The mall across the street has been so successful, so this isn't a big surprise," he explains. "Still, we're very pleased. We had a lot of interest before we closed on it." In previous interviews with GlobeSt.com, Montesi has said that Corpus Christi is an historically underserved market. "A lot of retailers that haven't yet been in the market are showing a lot of interest here," he adds.