Bisnow - January 7, 2013 - by Tonie Auer
Sleep Experts' expansion plans include more than a half-dozen new Metroplex stores, including two new leases inked in Arlington and Forney, Venture Commercial partner Bryan Cornelius tells Bisnow exclusively. (Catch 22: More leases are good for the market. But in this case it means cozy workers sleeping in).
Bryan, with Venture partner Dave Carter, says the new stores will be a mix of strategic relos and new infill sites. The new leases are a 5,400 SF deal at 3808 S Cooper St in the Arbrook Oaks Shopping Center, which opened in November, and a 5,336 SF at 862 E US Hwy 80 in Forney, expected to open soon. (Go easy on the second lease; it's self-conscious about being slightly smaller). Bryan and Dave repped Sleep Experts. The Weitzman Group's Steve Gray repped the landlord in Arlington, and United Commercial Retail Services' Stan Lotridge repped the landlord in Forney. There's also a 4,200 SF location that will open along with the Whole Foods in the Village on the Parkway on Belt Line in September.
With 41 locations in North Texas and eight in Austin, Bryan says Sleep Experts has penetrated the DFW market, but the Carrollton-based firm wants to fill the holes where there are median incomes of $75k and above with educated consumers. (What would be perfect is an area where everyone has back problems, but things are never that neat). High-growth areas like Forney, Keller, and Frisco are prime spots, Bryan says. Ideal locations are 3,500 to 4,500 SF end caps with high visibility, good signage, and a presence on the road. With the resurgence of residential development, mattress sales have grown. Additionally, the end of the recession and a feeling of job security helps consumers make the purchases they were postponing.