Lakeside Market gets new owner
Dallas-based commercial investor TriGate Capital purchased Plano’s longtime shopping center, Lakeside Market, in late June.
Located on Preston Road just south of West Spring Creek Parkway, the center is home to retail stores, service-oriented businesses and restaurants. TriGate Senior Vice President Keith Schneider said the firm was attracted to the property because of its central location and history of success.
“Our plan for the center is to keep operating it as a first-class center and to continue working with the tenants that are there to improve their performance, and bring new vibrant tenants to the center that will make it all the more attractive,” Schneider said.
Some of Lakeside Market’s eateries include Mi Cocina, Mignon’s Steakhouse and Taverna Rossa. There are also a variety of service-oriented businesses, such as Beaux Arts Photography and Boardroom Salon for Men as well as several fitness-related centers. Shopping choices range from furniture to children’s clothing and toys.
Jim McDevitt, owner of Lakeside Market store Corner Wines, said he has high hopes for the new ownership. The wine and spirits boutique opened in 2006, and McDevitt’s decision to locate to the area mirrors TriGate’s motives in purchasing the center.
“It’s a great location and the curb appeal is excellent,” he said. “The area is great, and even though it’s been here 15 years, it still looks fresh and inviting. It’s also on a very good road with lots of traffic.”
TriGate owns similar properties nationwide. Lakeside Market will be managed and leased by JAH Realty, which has offices in Dallas, Oklahoma City and Phoenix.
Looking ahead, Schneider said he hopes to attract tenants of similar stature and reputation to fill the center’s remaining vacancies. It is operating at about 90 percent capacity.
“Several tenants at this center have locations in other parts of the Metroplex and chose Lakeside because of its location,” he said. “We think this will be a continuing source of prospects for the shopping center.”