Cost Plus World Market
and buybuyBABY Join Southlake’s Prestigious Gateway Plaza
Dallas, Texas – September 17,
The Retail Connection [TRC] announced today that it has secured
two high profile tenants, buybuyBABY and Cost Plus World
Market, for Southlake’s Gateway Plaza, located at East Highway 114
and East Southlake Blvd. in Southlake, Texas. TRC backfilled two high
impact anchor positions that will be critical to continuing and further
broadening the success of one of the most productive centers in the region. The
center is owned by RPAI.
The high profile project is
located in the affluent Southlake area, which was recently ranked by CNBC as
one of the top 5 best cities in the country to relocate. Southlake boasts
one of the state’s best public school systems and is one of
Texas’ most sought after cities by high income families. The area
surrounding Gateway Plaza has an average household income almost triple that of
the rest of the country.
The 364,813 square foot center is
very unique due to its exceptional visibility from Southlake Blvd. to the
south of the center and State Highway 114 to the North. This
configuration presents an extraordinary opportunity for retailers serving
the tight Southlake Market.
Cost Plus World Market
will add an 18,300 square foot store and buybuyBABY will add a
23,428 square foot store. The two leases will further reinforce the
tenant mix on the 114 frontage of Gateway Plaza, which already boasts national
brands including Bank of America, Bed Bath & Beyond, Men’s Wearhouse,
Chipotle, Kohl’s, Pearl Vision, Old Navy, ULTA, Zales, Gymboree, Famous
Footwear, T.J.Maxx, and Justice.
The opportunity will enable Bed
Bath & Beyond, Inc. [BBBY] to leverage their existing location by adding
their Cost Plus World Market and buybuyBABY stores to the
In addition to the two new leases, BBBY extended the term of its
Bed Bath & Beyond store as well.
The Retail Connection [TRC]
served as the intermediary for the transactions representing both RPAI and the
BBBY, the largest clients of TRC's respective project leasing and tenant
representation teams. TRC is nearing the 200th lease of their
relationship with Bed Bath and have transacted over 50 deals with RPAI.
This transaction became the cornerstone for a seven store package of high impact deals negotiated
between the companies.
Key players on the transaction
Russell | Director of Real Estate | Bed Bath
Lieberman | CEO | The Retail Connection
Fazio | SVP | The Retail Connection
Jason Kasal |
SVP Leasing | RPAI
Bonnie Threadgill |
Leasing Director | RPAI
Levinson | SVP Brokerage | TRC
| SVP Brokerage | TRC