NewQuest Properties has landed a Texas newcomer, Wag N' Wash Food & Bakery, for the second phase of North Tarrant Marketplace, a grocery-anchored community retail center that's now 100% leased.
"The franchisee wanted to bring this concept to Dallas/Fort Worth. He's planning to open in a few more markets in DFW," says Josh Friedlander, associate for NewQuest Properties, developer of the Kroger-anchored shopping center in Tarrant County.
The community center is situated on nearly 35 acres at the crossroads of North Tarrant Parkway and Precinct Line Road in North Richland Hills. Wag N' Wash Food & Bakery has taken 4,844 sf in an 8,500-sf building that started on a speculative basis and is now fully leased. The balance of the class A space was pre-leased to Banfield Vet Clinic. The building will deliver in April, jumpstarting tenant finish-outs. Both businesses will open in late summer.
North Tarrant Marketplace's phase two is anchored by a 37,046-sf LA Fitness. With construction well underway, the California-based fitness chain is planning to open in early July.
"Kroger and LA Fitness are the biggest draws for this center. That's what separates us from our neighbors," Friedlander says. The 123,000-sf Kroger is approaching its second anniversary as anchor of phase one.
Colorado-based Wag N' Wash was named "Retailer of the Year for Concept and Innovation" in February by Pet Product News. The chain has 15 shops in eight states, with Texas adding one more in a portfolio of corporate-owned and franchise locations. In addition to retail products, each store offers full-service grooming for cats and dogs, all natural foods and pet washing, including self-washing stations.
"The synergy between Wag N' Wash and Banfield Vet Clinic will work well," Friedlander adds.
Also under construction as part of the second phase is a 7,042-sf building, which will house Jersey Mike's Subs, The Joint, Cellphone Trendz and Mattress Firm. Openings are penciled for late August and early September.
"This area has great demographics," Friedlander says. "These buildings have just popped up in the past few months. Any time you're 100% leased before you've delivered, that's ideal."
North Tarrant Marketplace's trade area has an average annual household income of $215,000 in a one-mile radius. The population is 247,216 within five miles of the site; the median age hovers 39. Traffic counts for North Tarrant Parkway and Precinct Line Road are nearly 20,000 vehicles per day, with NewQuest's project directly accessible from both highways. The dynamics of the area also has drawn Walmart Supercenter and Super Target to its midst.
NewQuest Properties started construction on North Tarrant Marketplace in 2014. The project has 32,000 sf of inline space and seven pad sites, of which four have been developed. Talks are underway with prospective tenants for the remaining pad sites, all fronting Precinct Line Road.
NORTH TEXAS LEASES
Wag N' Wash Food & Bakery has leased 4,844 sf of retail space in North Tarrant Marketplace, located at the intersection of North Tarrant Parkway and Precinct Line Road, North Richland Hills, from NewQuest Properties. Josh Friedlander of NewQuest Properties represented the landlord. Moore Matthews and Eliud Sangabriel of KW Commercial represented the tenant.
SOUTH TEXAS LEASES
Gulf Coast Regional Blood Center has leased 4,992 sf of retail space in Fairfield Town Center, 28644 US Hwy.290 Frontage, Cypress, from NewQuest Properties. Bob Conwell and JJ McDermott of NewQuest Properties represented the landlord. Jesse Tollett of Jesse J. Tollett & Co. represented the tenant.
Better Home & Gardens Real Estate Gary Greene has leased 4,200 sf of retail space in Marketplace at Ninety-Six, located at the intersection of League City Parkway and Hobbs Road, League City, from NewQuest Properties. Rebecca Le of NewQuest Properties represented the landlord. Ray Allison of Gary Greene Commercial Properties represented the tenant.
CiCi's Pizza has leased 3,599 sf of retail space in Cross Creek Commons, located at the intersection of FM 1463 and South Fry Road, Fulshear, from NewQuest Properties. JJ McDermott of NewQuest Properties represented the landlord. Bill Farris of Paradigm Commercial Real Estate represented the tenant.
Sprint has leased 3,014 sf of retail space in Grand Morton Town Center, located at the intersection of Grand Parkway and Morton Ranch Road, Katy, from NewQuest Properties. Josh Friedlander and Rebecca Le of NewQuest Properties represented the landlord. Lunden McGill of Baker Katz represented the tenant.
GNC has leased 1,260 sf of retail space in Chambers Town Center, located at the intersection of Interstate 10 and TX 146, Baytown, from NewQuest Properties. Bob Conwell, Brad Elmore and Austen Baldridge of NewQuest Properties represented the landlord. Sharon Biles of Sabre Properties represented the tenant.
