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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5930 Richmond FrontWhile this house isn’t technically $300,000, it will be worth at least that much when you renovate the kitchen. Located in the Belmont Addition, this cute Craftsman at 5930 Richmond Avenue is listed by Dallas City Center at $290,000.

That’s a fair price considering that, while this home is fresh and pretty on the outside, several rooms inside are still quite dated. And while I am a staunch believer in curb appeal, you can’t fix everything with great landscaping. Still, this house has so much going for it! It’s a two-bedroom, two-bath house in a great neighborhood — within walking distance to Whole Foods — and is in the Woodrow Wilson High School attendance area.

5930 Richmond Living

There are two living spaces separated by a single glass door. If you wanted drama, I guess you would have two French doors, but whatever. One is more formal with a fireplace, with a view out to the street. It has fresh paint, which makes the gorgeous hardwood floors really pop.

5930 Richmond DenThe den is less formal, and is a great place to watch a game. From here, the rest of the house has been opened up, with doorways expanded and views unencumbered straight through to the kitchen. That was a great idea, I just wish they had opened up the formal living area a little more. It feels a bit closed off from the rest of the house.

5930 Richmond Dining

From there you move to the dining area, which is more of a nook because of the layout of the breakfast bar area of the kitchen. Still, the dining table takes advantage of a lovely little windowed area. And those hardwoods again! Gorgeous! I also like the Tiffany-style fixtures, which definitely keep in tune with the home’s age.

5930 Richmond Kitchen

Now, the kitchen, that’s the real stumper. The owners shelled out for a tumbled stone backsplash, new countertops, a breakfast bar to give a home to the range, which is often placed rather haphazardly in homes built in the 1920s due to the large size of older gas ranges (they took up entire sides of the room!), and a new refrigerator and dishwasher. But why do all that and not re-face the kitchen cabinets?

5930 Richmond Master

Most of the rest of the house is repainted and looks as clean as the outside. The master has an attached office/nursery/exercise room that could use a little help. Still, it’s a great looking house, and a pretty decent sized one, too, at 1,848 square feet.

 

5930 Richmond bathThe backyard has a large concrete patio for entertaining, but if you really want to make it party central, add a covered deck or a hot tub! That would make you a popular stop with the neighbors!

5930 Richmond Backyard

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?

 

 

4121  McKinney4121 McKinney 2

We know you want to live in West Village off Knox-Henderson with the cool people, with easy access to I-75 and soon, the new Whole Foods that will be down there. Try a threesome — that is, a tri-level town home loaded with upgrades at the Charleston Square Condos. You get premium hardwood floors, high ceilings,  chi chi carpet & beautiful ceramic tile. Too many times town homes are space skimpy — not here. You get 1880 juicy square feet with two bedrooms, and two and a half baths (the master is huge), with a walk-in closet, office space & a terrace. The kitchen has gorgeous granite counters, sleek appliances & a huge breakfast bar just hungry for some cute bar stools. The guest bedroom is on the first floor with it’s own full bath, and another walk-in closet, which would make a roommate situation cool. Great separate utility room with washer & dryer. And I’m very impressed with the roomy 2-car garage!

You can lease this puppy for a mere $2100 a month… and we’ll keep the threesome to ourselves!

4121  McKinney4121 McKinney 2

We know you want to live in West Village off Knox-Henderson with the cool people, with easy access to I-75 and soon, the new Whole Foods that will be down there. Try a threesome — that is, a tri-level town home loaded with upgrades at the Charleston Square Condos. You get premium hardwood floors, high ceilings,  chi chi carpet & beautiful ceramic tile. Too many times town homes are space skimpy — not here. You get 1880 juicy square feet with two bedrooms, and two and a half baths (the master is huge), with a walk-in closet, office space & a terrace. The kitchen has gorgeous granite counters, sleek appliances & a huge breakfast bar just hungry for some cute bar stools. The guest bedroom is on the first floor with it’s own full bath, and another walk-in closet, which would make a roommate situation cool. Great separate utility room with washer & dryer. And I’m very impressed with the roomy 2-car garage!

You can lease this puppy for a mere $2100 a month… and we’ll keep the threesome to ourselves!

If I had a dollar for every time I have said, what Uptown needs is a decent grocery store, I’d be able to buy Tim Heddington’s condo over at the Ritz. Well now it’s happened: last night I got a press release from my darling friend Karen Lukin telling the world that the Austin-based grocer will  build a 38,000-square-foot store on McKinney Avenue on a vacant lot between Fairmount and Routh streets.

The only bad news: the store won’t be open until 2015.

I am kind of loving it that everywhere I go in the U.S.A., I see a Whole Foods, from Columbus Circle to Napa to Honolulu, Hawaii and even in Maui. And I love reminding people that Whole Foods is a TEXAS-BASED store, which is still expanding bigtime.

As for a 38,000 square foot store, that will be smaller than my mothership store over at Preston/Forest, a little larger than (gulp) the Central Market that recently opened at Preston Royal, which is just over 30,000 square feet. Personally, I like the smaller stores — easier to get in and out, not as much food-surfing which leads to purchases that rot in my pantry or fridge.

Here’s the release:

Whole Foods Market® Announces Plans for 11th Store in D/FW

 

WHAT:

Whole Foods Market® announced today that it plans to build a store in the Uptown area of Dallas. At the present time, plans are to build a 38,000 square foot store.

 

WHERE:

McKinney Avenue and Routh Street

 

WHEN:

Estimated opening date is in 2015

 

ADDITIONAL:

 

Eight Whole Foods Market stores are currently open in the North Texas area; the Richardson store will relocate to Addison (Dallas North Tollway at Belt Line) in summer of 2013; a Ft. Worth store is planned with opening date t.b.d.; a store in the Shops at Highland Village in late 2014. Whole Foods Market/Uptown will be store #11.

 

Mark Dixon, President/Southwest Region of Whole Foods Market, said that “the Uptown area’s vibrant restaurant and retail scene, established neighborhoods and new construction, plus its proximity to downtown and the Arts District make it an attractive location. After years of interest in Uptown, we feel we have finally found the perfect spot.”

# # #

For media information, contact:

 

Karen Lukin

Whole Foods Market/Dallas Media & Community Relations

karen.lukin@wholefoods.com

214/676-4669

 

Today is not what you call a good financial news day here in Dallas. With Craft and GhostBar closing at the W/Victory, as Scooper Teresa Gubbins told us hours before the press release today, we can only hope replacements are on their way. We know of one: a new restaurant, Cook Hall, opens to replace Craft come early fall. Cook Hall will offer  “regional cuisine and handcrafted cocktails”, with a new bar and a flow that continues into the W’s Living Room. W’s do not embrace traditional hotel lobbies. Cook Hall (weird name) will offer smaller, share-able plates, more moderate prices. All part of my theory that people are not spending the vast sums they once spent on eating out. It’s too expensive and rich in calories, would rather pay less, eat light.  Why doesn’t someone bring a high end grocer to Victory, like Eatzie’s or Oakville Grocery? Or how about Wegman’s which I visited recently in Harrisburg, PA and which blew me away. Seriously, put Central Market and Whole Foods together and Wegmans still rules. It’s also, along with my beloved Whole Foods, on The Business Insider’s top 15 fastest-growing retailer list.

Sad to see  Ghostbar, the hotel’s 33rd floor nightclub, going bye bye. No word yet on what will take its place, but I know this has to be a major change for condo dwellers at the W who could order up from Craft. Last time I was down at Victory and used the parking garage across from the W, all those shops looked so empty I thought we had a real ghost bar.

Penneys? 350 corporate employees laid off Tuesday at the Plano headquarters, bringing the total number of employees laid off at the Plano office to more than 950 since April. These folks have rent and mortgages to pay. Stories like this is what keeps me in Debbie Downer mode sometimes, but we will hope that this is the start of Penney’s just getting it’s reorganization together.