Photo by Rachel Slade
Leasing of 'big box' spaces signals economic recovery for region
When Julie Poteet opened Enigma Salon 12 years ago, customers bustled among the shops surrounding hers on Colleyville Boulevard between trips to the nearby Kroger, and Poteet and her stylists had to turn down walk-ins throughout the day. Fast forward, and For Lease signs pave every window from her storefront to the end of the strip.
"I think us and the cleaners are the only ones who have been able to stick it out," Poteet said. "Some tenants moved immediately, and other tenants lasted about a year or two and then moved or closed."
What Poteet is referring to is the closing of the Kroger, her shopping center's anchor, the better part of a decade ago. Now construction next door is giving Poteet new hope for the future, as crews work to transform the space into a Walmart Neighborhood Market set to open in late October. After a year or so of watching big box vacancies fill, city officials are getting excited, too.
"When you start getting to where occupancies get up into the upper 80s (percent wise) like they are now and you're backfilling larger spaces, does that then set the stage to actually see new construction? I think so," Colleyville Economic Development Director Marty Wieder said. "Things like this create momentum, and that begins to build on itself."
