Dallas — Netflix will open an entertainment venue within an anchor space at Galleria Dallas, a 1.9. million-square-foot shopping center in Dallas. Dubbed Netflix House, the establishment will feature immersive experiences, retail and food-and-beverage offerings. Construction is currently underway on two floors of the property to house the venue, which is scheduled to open in fall 2025. According to a statement on the Netflix company website, an additional Netflix House will open in King of Prussia, Pennsylvania, with both venues encompassing more than 100,000 square feet. MetLife Investment Management owns Galleria …
Leasing
Houston — Five new retailers and restaurants have opened at Post Oak Plaza, a 503,000-square-foot shopping center in Houston. Luxury mattress retailer Saatva and appliance provider Bosch/Thermador/Gaggenau have opened a 4,000-square-foot store and 14,777-square-foot showroom, respectively. Additionally, restaurants Local Foods (3,016 square feet), Tacodeli (2,883 square feet) and Rakkan Ramen (1,856 square feet) are now open. Levcor is the owner and landlord.
Charlotte, N.C. — Three new retailers have signed leases at The Pass, a mixed-use development currently underway in Charlotte. Vintage sportswear concept Locker Room CLT opened at the property in February, and hair salon Common Thread and Mariah’s Taco Spot are scheduled to join the lineup this fall. Third & Urban is the developer of the 12-acre project, and Cliff Benson of Thrift Commercial Real Estate leads retail leasing for the property.
Highland Village, Texas — Two new tenants have opened stores at The Shops at Highland Village, a retail center in Highland Village. Fitness Studio Body20 and beauty treatment center OrangeTwist now occupy 2,000 and 2,300 square feet at the center, respectively. Restaurant Drago House will also join the lineup later this year. JLL manages the property.
Chicago — Cushman & Wakefield has arranged three leases in Chicago on behalf of SweatHouz, a sauna and cold-plunge wellness concept. SweatHouz will occupy spaces ranging from 2,000 to 7,000 square feet in the Old Town, West Loop and Lakeview East neighborhoods. Anthony Ciaravino of Cushman & Wakefield represented the tenant in the lease negotiations.
Phoenix — Sprouts Famers Market will open a new, 28,000-square-foot store in Phoenix on June 14. Located in Tramonto Marketplace, the store will be situated within a space formerly occupied by Bed Bath & Beyond. Diversified Partners is the landlord and developer of the property.
At the ICSC LAS VEGAS 2024 conference, Nellie Day from Retail Insight spoke with Nate Tower, president and founder of Broad Reach Retail Partners, to explore the evolving landscape of retail and upcoming trends in the space. Broad Reach Retail Partners focuses on revitalizing underperforming shopping centers via a holistic, full-cycle approach that considers leasing, management, construction and acquisition. Tower emphasizes the importance of assessing a matrix of key performance indicators (KPIs) — including capital requirements, tenant mix and market demographics — to develop and execute effective business plans …
NewMark Merrill: Harness Retail Data to Improve Customer Experience, Streamline Operations
Sandy Sigal argues that the evolving fields of automation and artificial intelligence (AI) are a perfect fit for retail. “We generate the most relevant data on an everyday basis, and that data affects the outcomes and success of our centers,” explains Sigal. In a discussion on the pivotal role of technology in the retail sector, Sigal emphasizes that understanding customer behavior is paramount for shopping center owners. By leveraging technology to track customer movement and sentiment — where they come from, how long they stay, how they feel about …
Orlando, Fla. — Target will open a 150,000-square-foot store at Lake Nona West, marking the first anchor tenant at the 405,000-square-foot shopping center project in Orlando. Situated on 54 acres near the Brightline Station and Orlando International Airport, the development is scheduled for completion in fall 2025. Tavistock Development is the developer and landlord.
Greensboro, N.C. — Tanger has announced an expansion of its partnership with Sephora, which will bring the beauty retailer to five additional Tanger properties this year. Averaging 5,000 square feet, the stores will be located in Charleston, South Carolina; Deer Park, New York; National Harbor, Maryland; Palm Beach, Florida; and Glendale, Arizona. Sephora is currently open at Bridge Street Town Centre in Huntsville, Alabama, which Tanger acquired in late 2023.