Press

November 07 , 2008

Getting the Pointe

Getting the Pointe

Friday, Nov. 07, 2008

Mansfield Pointe shopping center opens, but quickly loses one anchor

For the Mansfield News-Mirror

Four national retailers recently opened shop in Mansfield, adding to the community’s rapidly growing retail landscape.

However, one of the new stores, The City by Circuit City, officially closed Tuesday after being open for business since Sept. 25. The store is one of 155 Circuit City stores nationwide that closed the same day.

In a statement issued earlier this week, the company cited a number of factors contributing to the closures, including a weakened economy, problems with vendors, and a dispute with the Internal Revenue Service.

The other three retailers, Bed, Bath & Beyond, PetSmart and Sports Authority, are the first stores to open at Mansfield Pointe, a new retail development located off U.S. 287 between Debbie Lane and Mouser Way.

Mansfield Pointe was developed by Connective Development Services, an investment arm of The Retail Connection, a Dallas-based commercial real estate services firm. A limited partnership of North Texas investors owns the development.

Connective Development Services began considering the site in 2006, acquired the land the next year and completed construction in September.

Spokespeople at The Retail Connection declined to comment on the Circuit City closure.

According to Mansfield Pointe developer Chad Bradshaw, one catalyst in the anchoring retailers’ decision to open new locations in Mansfield was zip code analysis of shopping patterns obtained from their existing stores located elsewhere in the Metroplex.

"They knew that a lot of their shoppers come from Mansfield to stores in Arlington," he said. "The SuperTarget being adjacent (to Mansfield Pointe) was a key catalyst as well."

Bradshaw also said that the retailers were drawn to Mansfield due to the community’s desirable demographics, such as high incomes, population and housing growth.

Sharyn Everage, store manager of the Mansfield PetSmart, which opened Oct. 18, said that her staff is excited to venture into the Mansfield market.

"It was a long time coming," she said. "We’re really happy to be here."

Everage also said that they are looking forward to the upcoming holiday sales season, when the store will open a pet hotel and hold "Santa Claus" photo sessions for pets and pet parents.

"We’ve got so much going on," she said.

According to the Circuit City Web site, the Mansfield store, along with the other newly-closed stores, began a clearance sale Wednesday. The company expects the sales to be completed no later than the end of the calendar year. Fifteen Circuit stores remain open in the Metroplex.

This is the first development in Mansfield for Connective Development Services. Previously, the organization has performed some third-party leasing assignments in the area.

Including the Circuit City space, 80 percent of Mansfield Pointe’s available space is leased. Bradshaw said that letters of intent are "working" for 12,000 of the remaining 20,000 square feet of space.

"The other tenants targeted will be a mix of national, regional, and local retailers and restaurants," he said.