Old Navy is looking forward to what will be our flagship store for DFW, and we feel that the deal would not have happened without all of the hard work from the good folks at UCR
Dallas, TX (Vocus) September 16, 2010
The Shops at Park Lane, Dallas’ premier mixed-use retail development, announced today that Old Navy, Ulta Cosmetics and Carters plan to open stores at this new Dallas outdoor mall.
Old Navy is famous for bringing customers on-trend apparel and accessories as well as updated basics, all in a fun, energizing shopping environment. The 23,300 square-foot Old Navy at The Shops at Park Lane will be Dallas’ flagship store and the only location inside Lyndon B. Johnson Freeway. The store will be two levels and will be located on both the street and the plaza level.
“Old Navy is looking forward to what will be our flagship store for DFW, and we feel that the deal would not have happened without all of the hard work from the good folks at UCR,” said Walter Smith, Director of Real Estate for The Gap, Inc.
Ulta Cosmetics is the largest beauty retailer providing one-stop Dallas shopping for prestige, mass and salon products and services in the United States. The new store will be 10,000 square feet, including a salon of approximately 950 square feet and will be located on the plaza level.
Carters is a clothing and accessories store for babies and toddlers. The store at The Shops at Park Lane will be 4,300 square feet and will be located on the plaza level.
“We’re thrilled with the opportunity to open three new stores at The Shops at Park Lane,” said Erwin Aulis, Chief Operating Officer of Northwood Investors. “The Shops at Park Lane are quickly developing into a vibrant, welcoming and pedestrian-friendly neighborhood for Dallas’ savvy shoppers.”
In 2009, The Shops at Park Lane opened its first stores with Nordstrom Rack, Dick’s Sporting Goods, The Children’s Place and Lane Bryant/Cacique. More stores continued to open since then including Dallas’ flagship Whole Foods Market, Gordon Biersch and SAKS OFF 5TH, and additional shops and restaurants will continue to open over the next year.
UCR Urban President Jack Breard and Senior Vice President Rand Horowitz represented The Shops at Park Lane in the lease negotiation with Old Navy, Ulta and Carters. UCR Urban Vice President David Shelton and Breard represented Old Navy in the transaction.
About The Shops at Park Lane
The Shops at Park Lane encompass a 33.5-acre mixed-use development located in Dallas located directly across from NorthPark Center. In the equivalent of five city blocks, this project offers a unique urban experience and an unbeatable variety of options for the consumer, enhanced by easy car and light rail access, ample parking and wide, pedestrian-friendly sidewalks. The Heights at Park Lane, developed by PM Realty Group, offers 325 luxury residences at The Tower, The Flats and The Lofts, making Park Lane Dallas’ ultimate live, work, play destination. At full build out, The Shops at Park Lane will contain more than 2.8 million square feet of total space with more than 700,000 square feet of retail, restaurant and entertainment space, anchored by Dallas’ flagship Whole Foods. For more information, please visit http://www.parklanedallas.com.
Northwood Investors is a privately-held real estate investment advisor founded in 2006 by John Z. Kukral, the former President and CEO of Blackstone Real Estate Advisors. The firm advises on and invests alongside institutional and private clients in a broad range of real estate and real estate-related investment opportunities including single property acquisitions, property development and redevelopment, multi-property portfolio acquisitions, joint ventures, operating companies and public and private securities.
Northwood pursues investments globally that offer the opportunity for highly attractive risk-adjusted returns, whether through equity, preferred equity, debt, participating debt or other securities. For more information contact firstname.lastname@example.org
About UCR Urban
UCR Urban, a division of United Commercial Realty, has partnered with accomplished, best in class retailers and award-winning developers and architects to help create some of the nation's most sustainable and vibrant mixed-use environments. In doing so, we have learned to provide valuable retail real estate and consulting services and have earned the reputation as a pre-eminent advisory, leasing and management company.