Oak Cliff's Wynnewood Village Shopping Center Getting $30M Makeover
Brixmor Property Group, owner of Wynnewood Village in Oak Cliff, plans to sink at least $30 million into upgrading the 1949 shopping center according to the Dallas Morning News.
Located in a densely populated area along S. Zang Boulevard and Illinois Avenue just west of I-35, Wynnewood Village is one of the oldest shopping centers in Dallas. Per Brixmor’s data, more than 160,000 people with an annual household income of at least $50,000 live within a three-mile radius.
In the decade that Brixmor has owned the sprawling 65-acre center, the neighborhood around it has changed dramatically. North Oak Cliff evolved into an urban hotspot. Bishop Arts District, two miles from Wynnewood, emerged as a regional favorite for trendy shopping and dining. And three miles away, Glen Oaks Crossing, which is anchored by Walmart, was built two years ago at I-35 and Ledbetter and still offers plenty of new-shopping-center feel.
Though Brixmor is bringing Wynnewood Village up to speed with the neighborhood, its foundation for attracting shoppers and tenants remains solid.
The one-story, 443,681-square-foot shopping center contains 107 tenants and is 88 percent leased. The two anchor stores alone, Kroger and El Rancho supermarket, draw more than 20,000 customers a week. In addition to several national retailers and restaurants already in the center, Brixmor is currently negotiating two large tenant leases that will take up to 60 days to finalize.
Phase I of the redo will include demolishing and redeveloping an old 24,254-square-foot medical office building that Brixmor acquired earlier this year for $1.6 million. Upgrades to the core shopping center will consist of a new facade, parking lot, and landscaping. And a new focal point for Wynnewood Village will be constructed near the existing roundabout.
According to Matthew Berger, president of the West division of Brixmor, Phase II will likely involve redeveloping a large vacant field in the center of the shopping center where a Montgomery Ward store once stood.
“There have been a number of plans discussed,” Berger told the Dallas Morning News. “Our feeling is that whatever we do [there] is community and tenant-driven.”