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H-E-B’s new stores are boosting nearby properties

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Local shoppers aren’t the only ones eager to open HE-B’s new North Texas store.

Owners of nearby retail facilities and buyers of land near future HEB stores are also excited to see the popular grocery store expand to Dallas-Fort Worth.

Houston-based Whitestone REIT will purchase Plano’s Lakeside Market in 2021. The 163,000-square-foot retail center on Preston Road south of Spring Creek Parkway Next to HEB grocery store It’s one of the first two new D-FW locations for the supermarket chain, which opened last month.

Built in 1999, Lakeside Market was nearly 20% vacant when Whitestone acquired the property. But with his new HEB store, business at the Plano center has increased significantly, the owner says.

Whitestone Chief Operating Officer Christine Mastandrea said on the company’s recent conference call. “In the short term, we expect Lakeside to join approximately 40% of our properties in the refining stage with her 95%+ occupancy.”

Whitestone officials are also optimistic that it will benefit from another planned HEB store in North Fort Worth. Construction of the store has just begun — Second HEB announced in Tarrant County.

“Recently, Texas grocer powerhouse HEB announced plans to build a new store across from Heritage Trace Plaza near Interstate 35W on the Alliance Corridor,” Mustandrea said. says.

In addition to the hot new retailer’s fame, nearby business owners also benefit from the huge spending generated by HEB stores.

Herb Weitzman, founder of Dallas-based retail real estate firm Weitzman, said: “Nobody in this state is approaching volumes like HEB.

“These stores are reaching much higher volumes than other grocery stores are doing,” he said. .”

Plano’s HEB parking lot fills up on December 7th. Newer HEB stores like this one, as well as Frisco stores, are driving sales at nearby retail centers.(Liesbeth Powers / Staff Photographer)

Department Store Coles Moved Plano store to face new HEB on Spring Creek Parkway.

Also, the owner of the shopping center around Frisco’s new HEB store on Main Street west of the Dallas North Toll Road, A crowd flocks to a new supermarket.

“My understanding is that rents have moved quite a bit,” said Shop Cos. Tommy Tucker.

Even the promise of future stores seems to be able to increase property values.

Over the past few years, HEB has bought more than a dozen Properties throughout North Texas as potential store locations.

When investors purchased 35 acres of farmland on the corner of Prosper’s toll road earlier this year, they were quick to point out that it’s across from the HEB site.

Scott Rogers, partner at DuWest Realty, who was responsible for the sale of Prosper, said: .

Traffic moves near the entrance to Lakeside Market on Preston Road in Plano on December 7.
Traffic moves near the entrance to Lakeside Market on Preston Road in Plano on December 7.(Liesbeth Powers / Staff Photographer)

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