Exclusive: Stream's 600k SF

October 25, 2010 | 8:00 am ET Staff Reporter

Stream Realty’s leaders picked a dandy of a time—January 2009—to launch a retail division. This week, that team spoke exclusively to us about two new leasing assignments of North Dallas shopping centers totaling almost 600k SF: The Shops at Preston Ridge and McKinney Towne Crossing.

We caught up with (though they weren't in any hurry to leave the patio) Inland American Retail Group leasing manager Russ Rodgers and Stream’s retail division co-managing partners Robin Smith and Lance Taylor to learn about the assignments along SH 121. The Shops at Preston Ridge between Dallas North Tollway and Preston Road in Frisco is a 60k SF community center shadow anchored by Ikea, Rooms-to-Go, and Ashley Furniture. The 310k SF Ikea draws more than 3M visitors annually, and Lance says they’re marketing the space to home furnishings retailers. That shopping center has a 1,600 SF space and an almost 15k SF space available. Because of Robin’s project leasing background and Lance’s development and asset management experience, several clients are using them as de facto asset managers acting as leasing agents, reviewing leases, and even helping on construction management, Lance says.

We snapped this entrance at the other assignment, McKinney Towne Crossing, a 500k SF regional power center at SH 121 and Custer Road in McKinney at the gateway to Craig Ranch. Inland acquired 536k SF of the center in May. About 30k SF in small shops is available with spaces ranging from about 1k SF to 11k SF. Robin says while deals are slow going, the traffic count at the intersection is a strong draw. Not to mention (though he did, because he's good at what he does) that when home-building returns, few areas will grow faster than McKinney. And, having a landlord like Inland makes the center attractive in tough economic times: "They have the capital necessary to get it leased up."

Exclusive: Stream's 600k SF

Continue reading this story with a free account

Sign in