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MESQUITE, TX-The fourth-largest block of available retail space in a 98%-occupied submarket has been filled to cap a repositioning play on a 46,833-sf vacant MJ Designs store, bought in May 2002 after it sat empty for nearly three years in Mesquite.

Prestige Furniture has just opened doors on a 34,718-sf spot to share the building for the long term with 75% Off Books. Prestige Furniture relocated to Center East Crossing, a 4.4-acre out-parcel at Town East Mall, from a nearby strip center along Town Center Boulevard with less visibility and far less space, Larry Jordan, vice president in Dallas for Houston-based Transwestern Commercial Services, tells GlobeSt.com.

Finish-out crews started on the retail space at 1418 N. Town East Blvd. as the ink was drying on the 10-year lease to speed a relocation. “This is one of the larger leases in the Town East Mall submarket,” says Steve Williamson, Transwestern’s senior vice president.

Willliamson estimates the submarket has 150,000 sf of empty space in a 2.5-million-sf inventory, with the Prestige location outsized by spots vacated by Service Merchandise, Wicke’s Furniture and Best Buy. The submarket always makes the wannabe list for retailers scouting Dallas-Fort Worth because of the mall’s pull, 20 million visitors annually. “This mall has a lock on the eastern side of Dallas,” he explains. That “lock,” owned by Chicago-based General Growth Properties, is a 185-store mix of national names with a strategic positioning to capture interstate travelers, mostly shoppers from East Texas.

The brokers said several retailers were interested in the location owned by a Dallas partnership formed by Bryan Kaminski of Kamco Property Co. and Scott Remphrey of Brytar Co. The partnership, MJ Crossing Ltd., gamed out from the onset a value-add play to convert the single-tenant structure into multi-tenant use. Williamson and Jordan represented the partnership while Sean Porter of Dallas-based Capstone Commercial negotiated for the tenant.

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