Retail Strategies outlines recruitment plan for Argyle, cites large trade area and near-term prospects

Madison Veil, portfolio director for Retail Strategies, told the May 1 meeting of the Municipal Development District for the Town of Argyle that her firm is targeting retailers to locate inside Argyle’s corporate limits using a combination of mobile data, drive-time analysis and a custom trade-area polygon.

Veil said the custom trade area around a major Argyle anchor (the CVS) captures an estimated population just under 100,000 with strong projected growth and a high median household income the firm reported as about $140,000. She said Retail Strategies’ leakage study shows local demand of roughly $1.4 billion versus supply captured within the polygon of about $556 million, leaving about $857 million in sales “leaking” outside the trade area — a gap the firm uses to identify recruitment targets.

The recruitment effort, Veil said, uses drive-time rings, mobile-location data and ‘‘tapestry’’ demographic profiling from Esri to describe who is coming to and living in the market. She said the Prospect List for Argyle currently contains 102 targets; 40 have provided feedback, 38 show potential interest (6–12 months out), and about 10 are near-term prospects likely to schedule a site tour if a suitable site is available.

Megan Jimenez, retail development coordinator for Retail Strategies, described the firm’s “boots on the ground” work: inventorying available land, second-generation space and potential vacancies; evaluating signage, visibility, parking, co-tenancy and traffic; and preparing three to five prioritized sites for outreach. Jimenez said the firm does not negotiate deals but facilitates introductions between property owners, brokers, retailers and Argyle staff.

Veil and Jimenez stressed timing. Veil said the typical timeline from retailer conception to store opening can be roughly three years, though some prospects may be a year or less out. The firm also highlighted its marketing and conference presence — Dallas, Austin, Las Vegas and regional shows — and said it will provide quarterly reports via the office’s Basecamp platform to keep town staff and board members updated on outreach and follow-ups.

Why it matters: Town leaders said retail recruitment can expand the sales tax base and create local jobs. Board members asked about common obstacles; Retail Strategies cited a lack of second-generation space and, in some cases, franchisee availability as primary constraints. Board members and staff said having shovel-ready site plans or approved site concepts (for example, the “heritage tract” concept on the west side) materially increases retailer interest.

The board did not take action at the meeting; staff and board members indicated they expect regular updates and will discuss the firm’s contract renewal later in July.