One of the first Netflix House locations is set to open in Dallas this year, taking over a former department store in one of the region’s enclosed malls to make way for the new experiential entertainment venue.
Netflix leased a two-story, 107,436-square-foot retail space previously occupied by a Belk department store at Galleria Dallas last year.
The Dallas location in the 1.4 million-square-foot mall owned by MetLife Investment Management and managed by Trademark Property Co. is expected to be the first permanent Netflix House once it opens this fall. The deal has earned a 2025 CoStar Impact Award for lease of the year, as judged by a panel of real estate professionals familiar with the Dallas-Fort Worth market.
Netflix House is expected to draw visitors from throughout the country, with the new venue offering visitors certain immersive experiences, such as Netflix show-themed dining, live entertainment and exclusive merchandise designed to offer fans a place to explore their favorite Netflix characters and stories beyond the screen.
About the deal: Netflix House leased the former Belk department store space spanning 107,436 square feet of retail space across two floors at The Galleria in Dallas. This will be only one of two planned locations, joining the other at the King of Prussia mall outside Philadelphia, Pennsylvania, that is expected to open this year.
Over the last two years, Trademark Property Co.’s leasing team has added 300,000 square feet of new leases to re-tenant the mall, including North Italia, H&M Home, as well as one of the first Mango stores in the country, and the first Uniqlo store in North Texas.
What the judges said: The new retail lease from Netflix “ensures the vitality and innovation of space that had long been vacant in this institutionally-owned retail property,” said Jennifer Schmiel, a senior director at The Real Estate Council. The Galleria in Dallas is a nationally recognized mall and this unique tenant will help enliven it and will bring back shoppers to the retail center, added Walter Bialas, a senior insight analyst at Avison Young’s Dallas office.
They made it happen: David Pratt, vice president of leasing at Trademark Property Co.; Daniel Goldware, senior vice president at Trademark Property Co.; Katie Rambie, national broker at Shop Cos.; and Joel Stephen, senior vice president at CBRE’s New York office.
CoStar Market Manager Dennis Sallows contributed to this report.