The Lakewood Shopping Center will get some improvements over the next few months as owner First Washington Realty looks to attract new tenants to the neighborhood. Several businesses closed prior to and during the pandemic, and First Washington Realty hopes the renovation will improve the current 76 percent occupancy rate.
Aided by the purchase of a portion of property from the Lakewood Country Club, the Lakewood Shopping Center was built by legendary Dallas developer Leo Corrigan 95 years ago. First Washington, based in Bethesda, Maryland, acquired the center in December 2019 from Stockdale Investment Group, which in turn, bought the property from Lincoln Property Company in 2017. Lincoln Property had owned it since 2011.
“Growing up in Dallas, I know firsthand that Lakewood Shopping Center serves as the foundation of the community,” said Wright Sigmund, national director of leasing and senior vice president of First Washington Realty. “Our vision is to modernize and enhance the physical appearance of the center to better serve the daily needs of the people of this community.
“We are targeting a mix of essential-needs retailers and well-capitalized food and beverage operators for the vacancies we have.”
The prominent space on the corner has seen two restaurants come and go since Dixie House was unceremoniously asked to leave by Lincoln Property. Sigmund says he is talking to multiple groups that are well known in the community and across the country about possibly filling the space.
The pylon signage will be improved along with a ground-mounted “Lakewood” sign.
In the elbow that faces Abrams Road, an art piece with customer seating will be installed.
Landscaping and work on the corner restaurant’s patio is part of the improvement plan.
The breezeway adjacent to the former Penne Pomodoro that connects the parking lots will be refurbished.
First Washington will hire local artist Mari Pohlman to paint a mural on an un-inspired portion of the building facing La Vista.
Other enhancements include painting the facade, installing green wall features and improving lighting.
Leasing for the center is handled by Michael Nagy and Amanda Aaron at Dallas-based RUE Realty.
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