DALLAS – Casual Living Patio & Fireplace has acquired the 12,135-sf Cornerstone Plaza in tony Southlake in an off-market transaction.
"Casual Living always wanted to move to Southlake, but because of the market being so tight, there was little to nothing available," says Joe Santaularia, vice president of Dallas-based Bradford Commercial Real Estate Services. "We had to get creative. We approached an owner who had a property for lease and inquired if they would be willing to sell the property off market."
Buyer of record Albion Iron LLC has acquired a 1.9-acre, class A property, developed in 2001 at 2801 E. Southlake Blvd. near the TX 114 junction. Casual Living plans to occupy 8,000 sf of Cornerstone Plaza and lease the balance. Talks have begun with a potential tenant. It will take about three months to tailor Casual Living's space to its needs before the grand opening.
"We searched four to five months and only did a couple tours. Due to our extensive marketing efforts and research we were able to find our client the right," adds Santaularia, who teamed with Brock Wilson, Bradford's senior vice president and managing partner, to secure Casual Living's new showroom spot.
The Dallas-based retailer, founded in 1993, sells fine and affordable patio furnishings, gas logs and fireplace accessories. Casual Living also has showrooms in Frisco and Plano and a distribution center in Carrollton. Independent broker Brian Haase represented the seller, Orion Sky Investments LLC.
August 19, 2014