Press

UCR Urban

Trends in Retailing

The "untimely opening" of a new shopping center is working out just fine, says Allen's Watters Creek developer Terry Montesi. "We're staying scared and working hard. But as people discover Watters Creek, they like it."

This is the second Christmas season for the urban-designed shopping center in suburbia. It opened in October 2008, just as consumers stopped spending. Today, the center located on Central Expressway and Bethany Drive is 85 percent leased with 54 stores and restaurants vs. 32 last year.

A majority of the stores that opened last year are posting double-digit sales increases this Christmas, he said.

The retail lineup, which includes Sephora, Cheesecake Factory, Luke's Locker and "value-oriented" boutiques such as accessories shops Charming Charlies and Madison Envy, is making it a destination, said Montesi, founding partner of Fort Worth-based Trademark Property Co.

The Vera Bradley store is already paying a percentage of sales as rent. Last Saturday, the luggage and accessories store had a constant line at the register.

Watters Creek's $2 million creek system, pond and landscaping create an atmosphere different from other retail centers. Offices and apartments above the stores are 65 percent and 80 percent leased, he said.

To complete the urban feel, the center has parking meters, but they're totally voluntary. The funds go to the Susan G. Komen For the Cure, which raises money for breast cancer research.

And a snow machine delivers the white stuff on Thursdays, Fridays and Saturdays in December (except Christmas day) between 6 and 8 p.m.

J. Michael Nagy with UCR Urban is exclusively leasing Watters Creek.