Which grocery store has the "Starbucks Effect": Trader Joe's or Whole Food?

Which grocery store has the “Starbucks Effect”: Trader Joe’s or Whole Food? (Photo: t2RealEstate)

Which upscale grocery has the “Starbucks Effect”: Whole Foods or Trader Joes? That’s what RealtyTrac recently analyzed.

If you haven’t heard of the “Starbucks Effect” here’s a little primer:

“Homes in the Dallas-Fort Worth metro appreciated 49.7 percent between January 1997 and December 2013,” Humphries said. “But if you look just at homes in the Dallas-Fort Worth metro and within a quarter mile of a Starbucks, you see the Starbucks effect: Those homes appreciated 56.9 percent.”

Humphries said they were surprised by how decisive the results were.

“Over the past 17 years, we found that homes within a quarter mile of a Starbucks doubled in value, whereas the average home in the U.S. appreciated 65 percent over the same time,” he said.

Well, Dallas has Whole Foods locations in the Park Cities and Preston Hollow, two of the priciest neighborhoods in Dallas. But you can find Trader Joe’s on Lower Greenville, in Lake Highlands, and in Inwood Village — all up-and-coming areas with great character and rising home values …

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Inwood HOTW 4206 Buena Vista

I had lunch yesterday with a prominent Dallas commercial real estate executive who knows this town like the back of her hand. What is the future of Dallas residential, I asked? Oh, things will get more expensive, she said, utilities, land costs, fuel. People will have to live in smaller homes. I asked why restaurants downtown were not able to keep their doors open, what with all the new high rise living nearby. There are not enough people living in those high rises to sustain the business, she said: you cannot depend on the homeowners for every meal. Then I asked what part of town she thought was really, like really going to take off.

Her answer: Knox-Henderson.

It’s walkable, it has restaurants and soon, a Trader Joes, shops, ambiance, zip, and you can cross the street without feeling like a mac truck going 80 mph is going to mow you down.

4206-buena-vista-dallas-tx-Living RoomSo I present 4206 Bueno Vista. Unit C, for Candy. A little down the street, yes, but that will make for a nice, brisk walk to dinner. This is the kind of multi-fam living Dallas eats up like I do the French fries at Toulouse. 2550 square feet gets you three bedrooms, three baths and one half, a huge kitchen/living/dining space, a master like a Highland Park residence, and a lower level bedroom/bath for guests. Or your kid coming home from college. You don’t want to know what he’s up to, really.

4206-buena-vista-dallas-tx-kitchenThe best thing is there is a garage — despite all, and yes I support looking at the teardown of I-345, Dallas is a car city and we love our autos. We also love our autonomy and this home gets you into a multi-fam setting without feeling multi-fam. And don’t you love the coolio styling by Lisa Stapp — sleek, serene and fun. 4206-buena-vista-dallas-LR 2

Then there is also an expansive patio with fab views of the downtown/uptown skyline. The best thing about this is’s like having a whole, huge extra room for entertaining that you don’t heat, cool, or pay taxes on.

This pup will set you back $599,900. That’s less than $600,000. Call Inwood Mortgage right now and say, “charge it. I want the miles.”4206-buena-vista-dallas-tx-kitchen 2 4206-buena-vista-dallas-tx-kitchen 3 4206-buena-vista-dallas-tx-breakfast 4206-buena-vista-dallas-tx-master bedroom 4206-buena-vista-dallas-tx-master bath 4206-buena-vista-dallas-tx-study 4206-buena-vista-dallas-tx-guest bed

Inwood HOTW 4206 Buena Vista

I had lunch yesterday with a prominent Dallas commercial real estate executive who knows this town like the back of her hand. What is the future of Dallas residential, I asked? Oh, things will get more expensive, she said, utilities, land costs, fuel. People will have to live in smaller homes. I asked why restaurants downtown were not able to keep their doors open, what with all the new high rise living nearby. There are not enough people living in those high rises to sustain the business, she said: you cannot depend on the homeowners for every meal. Then I asked what part of town she thought was really, like really going to take off.

Her answer: Knox-Henderson.

It’s walkable, it has restaurants and soon, a Trader Joes, shops, ambiance, zip, and you can cross the street without feeling like a mac truck going 80 mph is going to mow you down.

4206-buena-vista-dallas-tx-Living RoomSo I present 4206 Bueno Vista. Unit C, for Candy. A little down the street, yes, but that will make for a nice, brisk walk to dinner. This is the kind of multi-fam living Dallas eats up like I do the French fries at Toulouse. 2550 square feet gets you three bedrooms, three baths and one half, a huge kitchen/living/dining space, a master like a Highland Park residence, and a lower level bedroom/bath for guests. Or your kid coming home from college. You don’t want to know what he’s up to, really.

4206-buena-vista-dallas-tx-kitchenThe best thing is there is a garage — despite all, and yes I support looking at the teardown of I-345, Dallas is a car city and we love our autos. We also love our autonomy and this home gets you into a multi-fam setting without feeling multi-fam. And don’t you love the coolio styling by Lisa Stapp — sleek, serene and fun. 4206-buena-vista-dallas-LR 2

Then there is also an expansive patio with fab views of the downtown/uptown skyline. The best thing about this is’s like having a whole, huge extra room for entertaining that you don’t heat, cool, or pay taxes on.

This pup will set you back $599,900. That’s less than $600,000. Call Inwood Mortgage right now and say, “charge it. I want the miles.”4206-buena-vista-dallas-tx-kitchen 2 4206-buena-vista-dallas-tx-kitchen 3 4206-buena-vista-dallas-tx-breakfast 4206-buena-vista-dallas-tx-master bedroom 4206-buena-vista-dallas-tx-master bath 4206-buena-vista-dallas-tx-study 4206-buena-vista-dallas-tx-guest bed

Goodbye, little church in the city.

According to some historians, the church at 4501 Cole Avenue in Uptown was more than 100 years old. The structure, which was at one time the Fairland Methodist Episcopal Church, was most recently a Chips Old Fashioned Hamburgers. The sanctuary dates back to 1902 and was razed yesterday to make room for the new Lincoln Knox development that will include new retail and a Trader Joe’s, as well as 165 luxury mid-rise apartments. David O’Dell managed to capture the video of the demolition, which is bittersweet for the community.

I suppose it’s comment on the versatility and longevity of the historic church that it housed several congregations before its most recent iterations as restaurants, but the bulldozer of progress doesn’t stop no matter the nostalgia.

This is just the beginning of site preparation for the $38.6 million development from Hill & Wilkinson. The structure should be ready for tenants in September of 2015.

4501 Cole Map

We just can’t build apartments fast enough in Dallas, it seems. Apparently Sarofim Realty Partners and Lincoln Property Company agree, as new plans reported by Steve Brown of the DMN include 165 luxury rental units for the mixed-use development at 4501 Cole.

Greater density in the area has left residents craving a real grocery store, and rumors swirled about Trader Joe’s moving in months ago before being confirmed in Brown’s story. The site, at Cole and Armstrong, has had plenty buzz as developers seek to turn Knox Street into the city’s premiere walkable shopping district.

And with these apartments added in the mix, and with rental demand projected to remain strong, we think this Womack + Hampton Architects development would be a tremendous asset to the area, which has several multi-family developments nearby, but none with a mix of ground-floor retail such as this.

Here’s a bit from Brown’s story:

“The Lincoln Knox apartments are a natural extension of this upscale, walk-able neighborhood and will offer outstanding amenities,” [contractor] Hill & Wilkinson’s Jay Graham said in a statement.

It does make me wonder what could be next for Knox. Of course, the area has been a magnet for high-end retail and exceptional boutiques such as Forty Five Ten, Design Within Reach, and Urban Flower/Grange Hall. It’s a short walk to the Katy Trail. Tons of trendy restaurants can be found nearby, too. But what about the landmarks? Could longtime businesses such as Wild About Harry’s and Highland Park Soda Fountain (nee Pharmacy) be pushed out as more dense developments go vertical?

What do you think?

4501 Cole Map

We just can’t build apartments fast enough in Dallas, it seems. Apparently Sarofim Realty Partners and Lincoln Property Company agree, as new plans reported by Steve Brown of the DMN include 165 luxury rental units for the mixed-use development at 4501 Cole.

Greater density in the area has left residents craving a real grocery store, and rumors swirled about Trader Joe’s moving in months ago before being confirmed in Brown’s story. The site, at Cole and Armstrong, has had plenty buzz as developers seek to turn Knox Street into the city’s premiere walkable shopping district.

And with these apartments added in the mix, and with rental demand projected to remain strong, we think this Womack + Hampton Architects development would be a tremendous asset to the area, which has several multi-family developments nearby, but none with a mix of ground-floor retail such as this.

Here’s a bit from Brown’s story:

“The Lincoln Knox apartments are a natural extension of this upscale, walk-able neighborhood and will offer outstanding amenities,” [contractor] Hill & Wilkinson’s Jay Graham said in a statement.

It does make me wonder what could be next for Knox. Of course, the area has been a magnet for high-end retail and exceptional boutiques such as Forty Five Ten, Design Within Reach, and Urban Flower/Grange Hall. It’s a short walk to the Katy Trail. Tons of trendy restaurants can be found nearby, too. But what about the landmarks? Could longtime businesses such as Wild About Harry’s and Highland Park Soda Fountain (nee Pharmacy) be pushed out as more dense developments go vertical?

What do you think?

Trader Joes Knox Street

Photo courtesy of the Dallas Morning News

Steve Brown reported this week that I am going to be spending a lot more time down on Knox-Henderson. Why? Because United Commercial Realty confirmed Tuesday that specialty grocer Trader Joe’s, the world of Two Buck Chuck,  is actually going to finish out a store on Cole Avenue just south of Knox Street. This confirms what I have heard for months, that the 13,433 square foot Knox Street Trader Joe’s will replace some older buildings just north of Ed Kellums along Cole Avenue.

This is the third Trader Joe’s store coming to Dallas. One is underway on Greenville Avenue, another to be built in North Dallas. (Sidetrip: where do you think that would be, perhaps the new Valley View Mall? I’ve heard Walnut Hill at Central.) Plano got the first Trader Joe’s up north at Preston and Park, and I hate driving all the way up there. So yes, you will see me, see lots of me, at the new Trader Joe’s in Knox-Henderson.

Steve says, “With Whole Foods going on McKinney Avenue and a Central Market store expected in Turtle Creek Village, residents in Uptown, Oak Lawn and Park Cities neighborhoods will have plenty of new food store options.”

Yep, we are well-fed. Now, how about a Trader Joe’s, Central Market or Whole Foods across from the Ritz or in Victory? Or something on the order of an Oakville Grocery or Draegers?

That would make us the grocery envy of just about everyone.

Question: do upscale grocery stores improve home sales?

 

 

Trader Joes Knox Street

Photo courtesy of the Dallas Morning News

Steve Brown reported this week that I am going to be spending a lot more time down on Knox-Henderson. Why? Because United Commercial Realty confirmed Tuesday that specialty grocer Trader Joe’s, the world of Two Buck Chuck,  is actually going to finish out a store on Cole Avenue just south of Knox Street. This confirms what I have heard for months, that the 13,433 square foot Knox Street Trader Joe’s will replace some older buildings just north of Ed Kellums along Cole Avenue.

This is the third Trader Joe’s store coming to Dallas. One is underway on Greenville Avenue, another to be built in North Dallas. (Sidetrip: where do you think that would be, perhaps the new Valley View Mall? I’ve heard Walnut Hill at Central.) Plano got the first Trader Joe’s up north at Preston and Park, and I hate driving all the way up there. So yes, you will see me, see lots of me, at the new Trader Joe’s in Knox-Henderson.

Steve says, “With Whole Foods going on McKinney Avenue and a Central Market store expected in Turtle Creek Village, residents in Uptown, Oak Lawn and Park Cities neighborhoods will have plenty of new food store options.”

Yep, we are well-fed. Now, how about a Trader Joe’s, Central Market or Whole Foods across from the Ritz or in Victory? Or something on the order of an Oakville Grocery or Draegers?

That would make us the grocery envy of just about everyone.

Question: do upscale grocery stores improve home sales?