Texas Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in Texas.
Issue link: https://texasrealestatebusiness.epubxp.com/i/817755
www.REBusinessOnline.com May 2017 • Volume 13, Issue 3 GROCERY WARS INTENSIFY IN TEXAS In formats big and small, the number of players and concepts grows. By Taylor Williams W hen it comes to store size in the Texas grocery busi- ness, there's no such thing as too big or too small. From the 100,000-square-foot Kroger to a 5,000-square-foot Hispanic butcher, the state's torrid population growth has not only opened the door for a plethora of grocery concepts and com- petitors, but it has also given grocers the flexibility to match the size of their stores to the population densities of the surrounding submarkets. The Lone Star State has added ap- proximately 850,000 new residents over the past two years combined, with the growth balanced between ur- see GROCERY, page 48 LAW FIRMS REACT TO REAL ESTATE GROWTH Commercial real estate attorneys must navigate between momentum and the fine print. By Brian A. Lee D emand in Texas isn't limited to barbecue and Dallas Cowboys tickets. In 2016, the U.S. Cen- sus Bureau reported that five of the 11 fastest-growing cities in the coun- try by percentage were found in the state, as were five of the top eight by volume, including Houston, San An- tonio, Fort Worth and Dallas. People and businesses flocking to Texas mean more demand for real estate services, including legal work. "It has been estimated that the Dal- las-Fort Worth metroplex is adding a new resident every five minutes," says Kitty Henry, shareholder at Munsch Hardt Kopf & Harr. "Each of these new residents increases the local de- mands for single-family homes, apart- ments, shopping centers, parking and storage facilities and, of course, office space, all of which bodes well for real estate attorneys in our area." Lawyers have always put in long hours in the Lone Star State to mas- ter the myriad commercial real estate (CRE) details for their clients. The state's unique business appeal means that firms must be ready for increased deal size, volume and complexity in a high-tech world that continually de- mands faster and cheaper. Successful law firms, such as the ones detailed see LEGAL, page 52 Phoenix-based Sprouts Farmers Markets is currently the fastest-growing grocery chain in America, based on percentage of new locations added over a five-year period. HEALTH-CONSCIOUS CONCEPTS How fast casual restaurants, juice bars and fitness centers are helping shopping centers thrive. By Taylor Williams E verything is bigger in Texas, even the market for retailers aiming to keep consumers' waistlines and cholesterol levels from living up to that slogan. Food, drink and exercise are among the few products and services of brick- and-mortar retailers withstanding the e-commerce boom. Two Austin-based retailers, healthy fast casual restau- rant Snap Kitchen and organic bever- age provider JuiceLand, are rapidly expanding while the world's fastest- growing fitness chain of the 2010s, Anytime Fitness, continues to build its footprint in the Lone Star State. These chains share several core see RETAILERS, page 50 Austin-based JuiceLand, which is currently pushing into Dallas and Houston, is almost as well known for its colorful storefronts and wall murals as it is for its juice products. Seniors Housing Gets into the Mix page 34 InterFace Conference Highlights page 38 page 45 It's a NNNew Market Recalculating Retail CMBS page 42 INSIDE THIS ISSUE