UCR Announces Three New Openings on Knox Street
DALLAS, Texas (November 4, 2013) –Today UCR, a leading retail real estate services provider, and Sarofim Realty Advisors announced the opening of Lululemon, Kate Spade and Steven Alan on Knox Street.
The opening of these retailers marks a shift in the make-up of Knox Street, a long established Dallas home furnishing and dining destination. They join existing quality home furnishing retailers Crate and Barrel, Pottery Barn, Restoration Hardware, Design Within Reach; and come alongside popular restaurants Toulouse and Mr. Mesero from famed restaurateurs Alberto Lombardi and Michael “Mico” Rodriguez, founder of M Crowd Restaurant Group and the Mi Cocina chain.
“With the addition of fashion retailers like Lululemon, Steven Alan, and Kate Spade, the Knox District is taking strides toward becoming a truly balanced shopping district,” says Kevin Hickman with Sarofim Realty Advisors.
A deviation from furniture retailers and restaurants came with the introduction of Apple to Knox Street; but it was the success of premier designer boutique Forty Five Ten and the chic and trendy boutique Octane that revealed the need for fashion forward concepts, and high quality brands took notice. Los Angeles-based retailers looking to Dallas as their “next” market see the trend going toward a walkable balanced shopping area and Knox Street as that ideal location to expand.
“The street has long been a destination for restaurants and home furnishings, but Dallas has lacked a true ‘street shopping’ experience due to the absence of great clothing, accessories, shoes and other apparel retailers,” says Michael Nagy, a Managing Partner with UCR Urban. “We plan to add a much larger apparel component to the district so that Knox will be thought of in the same vein as Montana Avenue in Santa Monica, Newbury Street in Boston, M Street in D.C. and other nationally-known street retail. Jonathan Adler and Steven Alan are just two examples of West coast retail concepts that have made Dallas their first location outside of Los Angeles.”
Knox Street has a long history of retail success and the first shopping center in Dallas was built there over 100 years ago. The addition of Lululemon, Kate Spade and Steven Alan are following the precedent set in place by past retailers by conserving the charm of the street as well as continuing to be the foremost destination for shoppers in the Dallas area.
UCR CEO Mickey Ashmore states, “UCR has been fortunate enough to work with both Sarofim and Lynn O’Neil in shaping Knox Street District’s retail and restaurant experience that now produces sales well in excess of $600.00 per square feet. The transformation started in the mid-nineties with Starbucks and Pottery Barn and today Knox Street is Dallas’s only true, organic retail street.”