The Shoppes at Stadium is one step closer to completion after The Kroenke Group this week finalized a deal to bring in Dick's Sporting Goods to anchor the northern end of the retail development.
The Kroenke Group will build a 50,000-square-foot building for Dick's on the site of the former Wal-Mart, which was razed last year. An additional 36,000 square feet of retail space and 14,600 square feet of office space will be built and connect Dick's to the existing complex, said Jim Alabach of The Kroenke Group.
The result will be a horseshoe-shaped development with Dick's on the north side and Macy's on the south. The Shoppes replaced the Biscayne Mall at the site on Stadium between Ash and Worley streets.
Alabach said construction should be completed byof the year. He said he has letters of intent to fill about 20,000 of the 36,000 square feet of first-floor retail space. Most of the potential tenants were waiting for the Dick's deal to be completed, Alabach said. "We're very excited about this addition," he said. "It will be good for the development and good for the city."
The completion of the Shoppes also will be good for existing tenants, especially Mark Telken, owner of Joey's Seafood & Grill. Right now, Telken occupies the northernmost leasehold, which is surrounded on the north and east by the future construction site. "I'm happy about it," he said. "I think it will increase traffic and visibility for me. I think it also will improve the appearance around the restaurant."
The Columbia store would be No. 7 for Dick's in Missouri, according to the company, which offers brand-name sporting goods equipment, apparel and footwear. There are about 340 Dick's stores in 36 states. The company's net income for the year ending Feb. 2 was $155 million on sales of $3.89 billion. Its shares are traded on the New York Stock Exchange under the symbol DKS.
This isn't the first time Dick's has done business with a Kroenke company. Dick's stores are located in developments owned by THF Realty, which Kroenke co-founded with Michael Staenberg in 1991. And Dick's owns naming rights to the Kroenke Sports Enterprises-owned and -operated soccer complex in Commerce City, Colo., that is home to Major League Soccer's Colorado Rapids. Dick's Sporting Goods Park is billed as the "world's largest professional soccer stadium and field complex." According to a news release, it has an 18,000-seat outdoor stadium and 24 full-sized outdoor fields.
In related news, Men's Wearhouse is moving into a 6,000-square- foot leasehold in the retail and office building east of Macy's that houses Verizon Wireless. Alabach said work on the space was completed recently, and Men's Wearhouse is scheduled to open within 30 days. There are two ground-floor leaseholds still available.
Founded in 1973, the publicly traded Men's Wearhouse has 1,269 stores and touts itself as one of North America's largest specialty retailers of men's apparel. It carries designer, brand-name and private-label suits, sport coats and offers tuxedo rentals.
Last year, the company's net income was $147 million on sales of $2.1 billion. Its shares are traded on the New York Stock Exchange under the symbol MW.