The calendar may say it’s a new year, but for the GrandMarc at Westberry Place it doesn’t feel any different. A total of 23,000 square feet of the GrandMarc’s retail space remains vacant, and, since leasing space with Perrotti’s Pizza and CitiBank, the GrandMarc has been unable to recruit additional tenants.
Although negotiations with several businesses are in progress, Kimberly Moss, director of community operations for the GrandMarc, said both Starbucks and Dallas-based sandwich shop Which Wich, recently decided against leasing space in the GrandMarc.
Which Wich franchisee John Darrah cited the cost of the lease along with construction delays as reasons for choosing an alternate location — one directly across the street.
“Obviously there’s some kind of holdover,” Darrah said. “They still don’t have their tenants. This opportunity presented itself and I have a great landlord.”
Moss said businesses are reluctant to lease space before the Berry Street construction is finished.
Resident Services Manager Marcus Martin said the construction was scheduled to be completed by the city Aug. 24, 2006.
Moss also attributed businesses’ hesitation to utilize the GrandMarc’s retail space to a less-than-capacity resident population, a trend that is quickly reversing.
Martin said the current occupancy is 70.9 percent, but will be as high as 84.6 percent during the spring semester.
By the 2007 fall semester, he said, the GrandMarc will reach capacity.
Because the GrandMarc is considered on-campus housing, TCU’s latest mandate requiring all first and second-year students to live on campus has spurred what the GrandMarc’s January newsletter called “a flood of sophomores making reservations already for fall 2007.”
Moss admitted she would prefer to be further along in the leasing process, but she said she has remained optimistic about acquiring tenants.
“There are ongoing negotiations with Jason’s Deli and Buffalo Wild Wings,” Moss said.
Martin said the GrandMarc is open to a variety of businesses leasing space in the GrandMarc, such as an ice cream shop, a sports bar and even a tanning salon.
“We’re looking to be in line with the Central Market, Camp Bowie space,” Martin said. “The only criteria is that they’re not competing with each other.”
Though Perrotti’s Pizza and CitiBank have each leased space with the GrandMarc, both are currently undergoing installation and are expected to open during the spring semester.
