Indian grocery leases 10K sf in Frisco
Chalo India is newest tenant at Shops at Panther Creek
Grocery-anchored retail is in demand in the metroplex, and Frisco is no exception.
The north Dallas suburb is getting an Indian/Desi supermarket in a lease deal brokered by CBRE. Chalo India is expected to open at Shops at Panther Creek in May. The 10,000-square-foot space will include a store as well as a cafe with a patio.
Chalo India is led by co-founder Rishma Dara.
CBRE’s Thurston Witt represented Chalo India in the transaction, and Tim McNutt with DBA Commercial Real Estate represented the landlord. The Shops at Panther Creek was developed by Richardson-based GreenRoad Development and Construction.
The retail center is located at the corner of Panther Creek Parkway and Hillcrest Road, which provides easy access to Panther Creek Parkway and Dallas North Tollway. It will be less than 2 miles from the University of North Texas’ Frisco campus, which is under construction. The retail center is a 10-minute drive to the Omni PGA Frisco Resort.
Frisco is one of the fastest-growing communities in Texas. Between 2020 and 2023, the city added more than 18,000 residents, according to the Texas Demographic Center. Nearly 90,000 people live within a 3-mile radius of the Shops at Panther Creek. By 2028, that number is expected to balloon to almost 100,000. The area will soon be home to a 97-acre Universal Studios theme park and resort, expected to open in 2026.
As investors shy away from the turbulent office market, they’ve found safe investments in the form of retail centers. But retail construction was practically unheard of in the past decade. While construction catches up to demand, availability is at an all-time low, and rents are stronger than ever.