In Q4 2022, UBS Realty Investors sold the Galleria Dallas mall to Metropolitan Life Insurance — a transaction that spurred some talk of the property closing amid challenging times across the retail real estate sector. However, the Galleria not only stayed open, but also recently announced upcoming grounds and experience improvements, as well as the signing of several new retail leases.

Located in the Platinum Corridor submarket, the Galleria rises seven stories and incorporates more than 1 million square feet of Dallas retail space. Originally completed in the early 1980s, the Dallas Galleria has remained an iconic Southern U.S. retail and cultural destination.

Like the previously constructed Galleria in Houston (after which it was modeled), the Dallas property features an ice rink and a glass vaulted ceiling inspired by the historic Galleria Vittorio Emanuele II in Milan, Italy. Every year during the winter holidays, the ice rink is home to what has been the tallest indoor Christmas tree in the U.S. since 1984, as well as world-famous figure skating performances.

New Owner Brings Timely Property Upgrades

Recently, the mall has embarked on an extensive improvements program that includes: new carpeting throughout the center for a new, fresh and bright look; replacement of common area lighting with energy-efficient LEDs; replacement of all furniture on Rink Level and Level 1 of the Galleria; straightening, widening and elevated redesign of the corridor leading toward the skating rink from the Westin Galleria Dallas hotel; renovation of the plaza known as “The Alley,” which will feature green space and upgraded furnishings for a dramatically enhanced customer experience.

Additionally, several remodel and renovation projects for existing tenants were recently completed, including the Nordstrom Marketplace Café, Mi Cocina, and Luciano Pizza and Pasta.

Galleria Signs New Leases to International Collection of Retailers

Louis Vuitton has signed a long-term lease at the Galleria and is expanding to build an entirely new store. Renovation work is expected to take six months.

Meanwhile, Italian clothing brand Intimissimi will open its first Texas store here. Similarly, H&M will expand its current footprint at the Galleria to include the first H&M Home store in the Dallas-Fort Worth metroplex — an addition that will occupy roughly 7,500 square feet of retail space on Level 2.

Also on Level 2 is Cotopaxi, an adventure gear retailer with a strong focus on the ethical and sustainable production of durable goods. The company recently joined the Galleria tenant roster and is now open for business.

Finally, the Galleria Dallas has also added to its selection of fine dining options: North Italia — one of the top Italian concepts in the United States — will open this fall in The Alley. And, Salut Paris Bakery, which serves fine pastries made with traditional French baking techniques, will open this summer.

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