As of 2007, Nordstrom Rack operated one store in the DFW metroplex. TRC was able to articulate to Nordstrom’s, one of the premier retailers in the US, that DFW is the next major market to expand their Rack brand. We were effective at demonstrating the depth of DFW’s retail potential and the value of a multi-store strategy for the market and as such opened stores in Southlake, Northpark and South Arlington to complement their four full-line Nordstrom mall locations. The Galleria location, set in the middle of all of these stores, further punctuates the depth of DFW’s retail market. Recognizing the optimal fit between the space and use, TRC put the parties together [two of the company’s top clients] and negotiated a true win-win structure that facilitated a tremendous result for all involved. Further, the lease was completed before CTS pulled out of the market, thus creating a perfect situation for both parties since the space never truly hit the market.
OPPORTUNITIES | CHALLENGES
This was a unique opportunity to both structure a lease for Nordstrom Rack, and replace the tenancy for our client Bed Bath & Beyond who owns the shopping center.
This was a unique opportunity for TRC to not only structure a lease for Nordstrom Rack to expand their DFW area store footprint, but to replace the tenancy for another one of our clients, Bed Bath & Beyond, who owns the shopping center. Bed Bath purchased the 127,000sf former Home Depot Expo in 2009 and redeveloped the building into three of their brands, Bed Bath, buybuyBABY and Christmas Tree Shops [CTS]. Knowing that Nordstrom Rack wanted to complement their full-line Nordstrom at the Galleria, TRC was able to navigate through all of the nuances in a transaction where a best-in-class retailer served as the Landlord and another best-in-class served as the Tenant.
This location was Nordstrom Rack’s 5th Dallas | Fort Worth area location and continues to provide not only jobs to the area, but further reinforces their brand in the Metroplex.