Real Deals: Kroger announces another Dallas-Fort Worth store
Mansfield soon will add a Kroger Marketplace – an expanded Kroger grocery store concept – to its tenant mix at the Broad Street Commons shopping center.
The 123,000-square-foot store is the newest store concept for The Kroger Co. in Texas and will feature 55,000 square feet of general home merchandise and 68,000 square feet of grocery items. A Kroger Marketplace also is planned for Alliance Town Center in north Fort Worth.
The Mansfield Kroger Marketplace is expected to open summer 2011, according to a release, in the Broad Street Commons shopping center located at the southwest corner of East Broad Street and Highway 360. Broad Street Commons also will offer a Kroger fuel center, pad sites and 16,000 square feet of retail shops.
“We have served the residents of Mansfield for many years with our Kroger Signature store,” said Gary Huddleston, consumer affairs director for Kroger, in a release. “With the addition of the new Kroger Marketplace, the community will continue to benefit from a variety of quality products at affordable prices and excellent customer service while enjoying a unique shopping experience.”
Karla Smith and Jean Smith of United Commercial Realty represented The Shops at Mansfield LCC, a partnership between Jerry Crenshaw and Jim Shindler, in procuring Kroger Marketplace as the anchor tenant for Broad Street Commons. Conifer Real Estate Inc. will oversee and manage the development of the property.
“Mansfield is a perfect location for a Kroger Marketplace because of its demographics, growing residential population and lack of grocery competition,” said Jim Shindler, owner and president of Conifer Real Estate Inc.
Smith agreed, adding that the Kroger Marketplace concept is “ideal for this expanding residential community as consumers increasingly demand one-stop shopping options,” said Smith, vice president of UCR.
QuickTrip buys Hurst land
Quick Trip purchased a 30,000-square-foot expansion area on the northeast corner of Precinct Line and Airport Freeway in Hurst from Morash Family LP.
Lester Day of NAI Huff Partners represented Morash Family LP in the transaction and is marketing an additional five acres of land adjacent to the QuickTrip store for the limited partnership.
Fort Worth partnership picks up Gainesville outlet mall
Woodcrest Alliance LP, a limited partnership based in Fort Worth, purchased Gainesville Factory Shops, a 319,653-square-foot outlet mall located at 4321 Interstate 35 from Business Partners LLC, a group of 11 lender participants.
In a release, Jim Ryffel of Woodcrest Capital said the company is “looking forward to the opportunity to own a quality asset to add to its portfolio of retail centers in North Texas.” Woodcrest specializes in the acquisition and development of retail centers in North and West Texas and according to Ryffel, “Woodcrest is aggressively looking to acquire value-oriented retail properties throughout 2010,” he said in the release.
Gainesville Factory Shops, built in 1993, includes retailer Dress Barn, Gap Outlet, Rocky Mountain Chocolate Factory, Kasper, Oshkosh B’Gosh, Perfumania, Reebok, SAS, Sunglass Hut, Van Heusen, Rue 21 and Zales Outlet.
Greg McDonald, executive vice president with the Investment Advisory Services Division of The Weitzman Group, handled negotiations for the seller. Jon McDaniel with Woodcrest Real Estate represented the purchaser.
Crowley school district picks up land for future school site
Crowley Independent School District purchased 22.5 acres of land designated as a future school site along Summer Creek Drive in south Fort Worth from Comerica Bank. Lester Day at Fort Worth’s NAI Huff Partners was the listing broker for Comerica Bank in the transaction.
North Richland Hills church begins construction
Construction is under way on a new building for Glory Chinese Baptist Church in North Richland Hills at 6135 Holiday Lane. The single story, 10,180-square-foot structure is located on 2.5 acres and will be the first building developed by the 10-year-old congregation, which currently meets at another Baptist church.
The new building will have a 200-seat worship sanctuary, baptistery, kitchen, gym/ fellowship hall, class rooms and church offices. The structure is designed to have a 2,515-square-foot, second floor future expansion.
Terry R. Cunningham Architects of Arlington designed the church and Craig Everett Construction Inc. is general contractor. Completion is expected in late 2010.
ahowe@bizpress.net
