Century 21 Judge Fite, Wingstop Scoop Up Spots in Suburban Retail Hotspot

10/31/16

Century 21 Judge Fite and Wingstop have claimed the balance of the retail space in the first phase of Broad Street Plaza in Mansfield, a rapidly expanding suburb crisscrossing parts of Tarrant, Ellis and Johnson counties.

Century 21 has leased 3,537 sf and Wingstop, 1,773 sf, in the 15,808-sf combo medical office and retail building at 2651 E. Broad St., located directly across the street from the 286-bed Methodist Mansfield Medical Center, which is in the midst of its third expansion since it opened in late 2006. Earlier this year, Instant RX Pharmacy, a compounding facility, committed to 2,303 sf of Broad Street Plaza's first-generation space.

Tenant finish-outs are underway on the three spaces. The two retail tenants anticipate being open by year's end and Century 21 in the first quarter. The center's anchor, Liberty Dialysis, occupies 7,500 sf.

"We had a tremendous amount of calls on this space because it's a highly visible location fronting a very heavily traveled roadway," says Renee Efimoff, vice president of Coldwell Banker Commercial Advisors DFW, who represents the landlord, Rochester Mansfield Medical I LLC.

Broad Street Plaza's first phase delivered in mid-2015. The 16,510-sf second phase at 352 Matlock Rd. has 5,779 sf of available retail space and is anchored by DaVita Dialysis.

With a 10-acre tract to develop at a major crossroads, the property owner has been selectively developing the land since 2009. In addition to the retail buildings, the site includes the Cedar Bluff Assisted Living and Memory Care at 345 Matlock Rd. and a build-to-suit pad at 350 Matlock Rd. that's currently on the market. A few years ago, Rochester Mansfield Medical I sold the hard corner of the Matlock-Broad intersection to a local restaurateur.

"The location and the medical center are the major draws for Broad Street Plaza," Efimoff says, "and the city's strong demographics." The average annual household income is $111,177, with a population of nearly 430,000 in the immediate trade area. Mansfield primarily attracts young families who are choosing to live there for its top-ranked schools, recreational amenities and a suburban lifestyle within reasonable traveling distance of employment centers. In the past six years, Mansfield has experienced a 20% spike in growth.

"It's a great place to raise a family. It's a fast-growing suburb with high retail demand," Efimoff says.

LEASES

The State of Texas has leased 7,214 sf of office space in Arlington Oaks Office Park, 218 Billings St., Arlington, TX, from One Oak Over the Line. Judy Nitzinger of Coldwell Banker Commercial Advisors DFW represented the landlord in the direct deal.

Century 21 Judge Fite and Wingstop have leased 3,537 sf and 1,773 sf of retail space, respectively, in Broad Street Plaza, 2651 E. Broad St., Mansfield, TX, from Rochester Mansfield Medical I LLC. Renee Efimoff of Coldwell Banker Commercial Advisors DFW represented the landlord. Bill Steddum of Century 21 Judge Fite represented the real estate company. The Wingstop lease was a direct deal.

FilesAnywhere.com has renewed 3,333 sf of office space at 3301 W. Airport Freeway, Bedford, TX. Eric Anderson and Renee Efimoff of Coldwell Banker Commercial Advisors DFW represented the landlord, Leasing on a Jet Plane LLC, in the direct deal.

Founded in 1992 as SCM Real Estate Services Inc., Coldwell Banker Commercial Advisors DFW is a full-service commercial real estate firm providing clients with expert advice and strategies customized to their particular needs. Our services include investment sales, project leasing, property management, tenant representation. 

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