RED Development Wins Best Retail Deal Award For The Union Dallas

Artist's rendering of The Union Dallas
Artist’s rendering of The Union Dallas

With all the new office towers being built in Uptown, it takes a lot to stand out. But RED Development has found a way to offer something no one else has: an honest-to-goodness, on-site grocery store.

Tom Thumb’s 60,000-square-foot lease at The Union Dallas is good news not only for future office tenants and residents, but also for those who live and work in the grocery-starved urban core. It will be the area’s first full-size, standard-product supermarket. It also will offer prepared meals to go, a pharmacy, a Starbucks, and a floral department.

The store will bring a strong “livability factor” to The Union Dallas, says Mike Ebert, managing partner at RED Development. The company behind the 1.2 million-square-foot CityScape in Phoenix selected Dallas for its next big project. Located on Field Street and designed by HKS Inc., The Union includes a 23-story residential tower, a 414,000-square-foot office tower (anchored by leases from Vinson & Elkins and Weaver), and 87,500 square feet of retail space.

JLL’s Clay Smith and Mark Newman represented Tom Thumb in its lease.

FINALISTS

Leases for two Bed Bath & Beyond affiliates, Buy-Buy-Baby and Cost-Plus World Market. The deals, which were brokered by Steve Lieberman and David Fazio of The Retail Connection, activated more than 40,000 square feet in the center, and became the cornerstone of a seven-store package of transactions between Bed Bath & Beyond and landlord RPAI.

Buc-ee’s at Terrell Market Center. North Texans will no longer have to leave the region to visit this convenience store on steroids, with the opening of a new 61,000-square-foot store in Terrell. The 20-acre project, which includes 84 gas pumps, anchors a new 300,000-square-foot retail center. The deal was brokered by Andrew Lehner and Robert Aycock of CBRE.

Tyler’s at the WestBend development in Fort Worth. In a deal that was five years in the making, CBRE’s Greg Pierce and Ryan May represented Tyler’s in a 17,274-square-foot lease, which  includes 3,000 square feet of mezzanine space. Steve Toppell and Kaitlin Travis represented the landlord, Trademark Property Co.

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