College Park in Arlington continues adding – and subtracting – tenants.
More tenants are signing and building-out at the former Town & Country Shopping Center at 903 University Blvd. N., at northeast University Boulevard and Arlington Expressway, while one is losing its lease.
Meanwhile, center owner JWB Real Estate Capital terminated the lease for the unopened Donatos Pizza at College Park in Arlington because tenant work had not begun. The termination notice is posted on the door.
JWB Real Estate Capital President Alex Sifakis said April 23 he will lease the space to another pizza restaurant, but did not identify which one.
Fish N Flips, Chase among more new tenants
Jacksonville-based JWB Real Estate Capital bought and is redeveloping the 71-year-old retail plaza, which comprises about 189,000 square feet of space.
“The neighborhood said they wanted more and better food options, and that has been our main focus,” Sifakis said July 5.
Conie’s Ice Cream plans a shop in Unit 935 next to where Donatos would have been. The Conie’s sign is on its space but the shop has not been built-out.
Sifakis said the neighborhood also wants “experiential” retailing, such as stores offering hands-on activities or selling merchandise for an active lifestyle.
The Urban Division at Colliers commercial real estate team represents JWB in leasing the center. The team comprises Senior Vice President Matthew Clark and associates Sam Middlekauff and Olivia Steinemann.
Colliers’ marketing brochure still lists Donatos, but shows the three neighboring units – 939, 955 and 957 – can be combined to create almost 17,000 square feet of space for a junior anchor retail store.
Winn-Dixie is the primary anchor tenant, at almost 49,000 square feet. The banner returned Sept. 20 to the center, where the Jacksonville-based supermarket chain operated from 1997-2007.
Junior anchors are smaller than anchor tenants but are considered important to attract customers to a shopping center. Examples at College Park would be a fitness center and a pet supply store, Sifakis said.
“We definitely want to get a gym,” he said.
Meanwhile, more new tenants have emerged, shown on the College Park site plan.
Fish N Flips Swim School will use about 6,000 square feet, Clark said.
It is shown in almost 7,700 square feet of space in Units 969-973, with the extra space used for College Park storage.
Sifakis said it would add an indoor pool.
The Australian company has not responded to emails for comment.
Clark said Florida, Tennessee and Texas are the first states that Fish N Flips will enter in the U.S.
The U.S. corporate office also will be in the College Park space.
Chase Bank is shown in 3,370 square feet of space in Unit 917, near the southern part of the shopping center near Max’s Restaurant.
Max's restaurant and more
A franchise for the Philippines-based Max’s Restaurant, which became known as “The House That Fried Chicken Built,” is taking 4,537 square feet in Unit 907, near Legacy Ministries.
First Gear Coffee is shown in Unit 975, in the corner plaza near Winn-Dixie. It will be operated by Dan Manjack, who bought and has renovated Arlington Bait & Tackle in the same corner.
Dollar General, Advance Auto Parts, dialysis center DaVita Inc. and Legacy Ministries are among the tenants that continued leasing in College Park.
The marketing brochure also shows that about 10,700 square feet of junior anchor space would be available next to the 22,800-square-foot Legacy Ministries location at the southern end of the center facing the expressway.
Sifakis said that is next to Legacy Ministries, which remains in its space, Unit 947, but has not been using the end-cap Unit 945 building that is vacant.
That end-cap was a former theater and then nightclub.
The brochure shows that future additions include pickleball courts closest to the expressway, next to the mural on the side of the end-cap space.
“We are talking about putting pickleball courts in front of the mural,” he said.
College Park also is designed for 82 market-rate apartments and a shipping-container outdoor food-hall market at the front corner of the property.
“We are in design for the container park,” Sifakis said.
He said JWB Real Estate Capital has hired a food hall designer for the project, which he expects will be completed before the apartments are developed.
Sifakis said JWB Real Estate Capital is working on the apartments but that it is “super hard” to finance those deals.
Donatos lease terminated
A notice dated April 18 taped on the door of the empty Space 937 says the landlord’s counsel notified Buckeye Pizza LLC of Ponte Vedra Beach on March 13 that it was in breach under terms of the lease “for the failure to commence Tenant’s Work within thirty (30) days of delivery of possession of the Premises to Tenant.”
The address is 903 University Blvd. N., Unit 937.
The notice says that according to the lease terms, the tenant had 30 days from March 13 “to cure the breach or be in default.”
Since that did not happen, “the Lease is hereby terminated.”
The city issued a permit Oct. 11 for the landlord to prepare shell space for Donatos Pizza at College Park.
ShayCore LLC was the contractor for the 2,500-square-foot project at $156,850 for Donatos in Unit 937.
The permit was for landlord improvements to bring the space to code for tenant work.
Buckeye Pizza has not responded to emails for comment.
Over time and over budget
College Park is part of the Renew Arlington Community Redevelopment Area, which the city hopes to assist with rejuvenation.
Through 903 University Blvd LLC, JWB Real Estate Capital paid almost $5.1 million for the 18.27-acre property in August 2019.
JWB did not buy the McDonald’s or the gas station, which are separately owned.
In July, Sifakis said the first phase of the redevelopment was over time and over budget.
Then, he said it was delayed nine months to a year and was $3.5 million over budget and that cost could rise as JWB Real Estate Capital completes the retail build-outs.
“We really view this project as something that can be catalytic for Arlington and are committed to doing it right, even if we make a lesser return upfront,” Sifakis said in July.
On April 23, he said it was $7 million over budget.
Sifakis said previously the cost to develop the first phase of College Park was $18.5 million, paid for by financing, city incentives and JWB cash.
The first phase of redevelopment includes the parking lot renovations and facade work, which are underway with extensive upgrades on the building exteriors, the inside tenant preparation and the parking lot, which has been repaved, re-striped and re-landscaped.
Sifakis initially expected the first phase of redevelopment, including the parking lot renovations and facade work, to be completed by early 2023.
It was finished in early 2024.
“We’ve had to deal with a lot of hidden issues that we uncovered once we got into the job,” he said in July.
“There are lots of those,” he said April 23.
And, he said, JWB did not skimp on design, which cost more than anticipated.
Sifakis said anchor tenant Winn-Dixie has been doing well and leasing “has been super strong.”
“We are happy to be part of revitalizing the community.”