Daiso Wins NewQuest’s Nod to Backfill Prime Spot in Stone Hill Town Center

PFLUGERVILLE, Texas—NewQuest has signed Daiso to backfill a prime vacancy in Stone Hill Town Center in northeast Austin. This will reclaim the regional power center’s 99% occupancy with little downtime between tenants.

The global retail chain, which is rapidly expanding in Texas, has snapped up 8,500 sf vacated in late January by Kirkland’s Home. Daiso is eyeing a Q4 opening in Stone Hill Town Center at TX 130 and 45 in Pflugerville, one of the fastest growing suburban cities in the capitol city’s northeastern sector.

“NewQuest began work on Stone Hill Town Center 15 years ago when Pflugerville was rural and just beginning to grow,” says Josh Friedlander, senior vice president for the Houston-based brokerage and development firm. “Now, it’s surrounded by 90,000 rooftops, including lifestyle residential communities, and it’s still growing.”

Stone Hill Town Center‘s trade area exceeds 257,000 residents, an increase of 17.38% in three years. The average household income tops $133,000 per year.

“Our tenants’ sales have skyrocketed through the years. The high growth is attracting new concepts, like Daiso, when an opening occurs,” Friedlander explains.

Daiso was represented by Scott Espensen of Venture Commercial Real Estate in its bid to join a growing lineup of Asian concepts in Stone Hill Town Center. In addition to the existing brands, NewQuest also recently leased 5,000 sf to Gen Korean BBQ House, which took over Morelia Mexican Grille’s spot.

To date, NewQuest has developed nearly one million sf of retail space in the 134-acre development, which Placer.ai ranks as the 15th most visited power center in the state. All freeway-fronting pads are long gone while negotiations are underway for two remaining interior sites in the project.

Texas remains at the forefront of Japan-based Daiso’s footprint in the U.S., with more than 20 locations statewide and more sites in its sights. NewQuest’s Carrollton Town Center in Dallas/Fort Worth was the chain’s first store in the state. It’s since leased space in the developer’s Frisco Ranch in North Texas and Chandler Ranch near Phoenix.

“As we’ve experienced at our other centers, Daiso will be a great complementary tenant for existing customers and will bring in additional ones,” Friedlander says.

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