An initial slate of tenants is about to debut at Marsh Lane Plaza in Dallas nearly five years after a tornado destroyed most of the center.
Businesses with permits have started building out their space, which should take around three to four months to complete, said developer David Hopkins, president of Hopkins Commercial Real Estate.
The first phase consists of 15K SF and includes Jakes Burgers and Beer, Con Madre Kitchen, Sunshine Donuts, a dental practice and a luxury nail salon.
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An additional vacancy remains in Phase 1, and Hopkins said his team is in talks with several tenants to fill the space.
“We are trying to get a nice, eclectic mix of tenants,” he said, adding that a high-end sandwich shop is on his team’s list of preferences for the space.
The 30K SF site, formerly home to Planet Fitness, will become a Texas Health Resources complex, Hopkins said. The team had toyed with the idea of a grocer but said it opted to go the medical route to avoid competition with the nearby El Rancho Supermercado.
“[Texas Health] will be great for the area and drive a lot of traffic,” Hopkins said.
Hopkins has encountered a series of obstacles since launching the redevelopment process in the aftermath of the storm. The pandemic set in just months after the tornado, followed by a capital markets crisis that he said has interfered with financing the 20K SF Phase 2.
“It has definitely hindered the project, but we have really good relationships with a number of lenders, and we were able to create a deal where it would work out for us,” he said.
Those challenges have been largely overcome, and a second slate of tenants has already signed, Hopkins said. Businesses in Phase 2 include Tikal Barber Shop, liquor-infused popsicle purveyor Picolé and Vietnamese café Vieti Coffee. More than 6K SF are still available for lease, Hopkins said.
The team is wrapping up construction financing on the second phase and hopes to break ground next quarter.
“Everyone here is really excited,” Hopkins said.
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