A year ago, Half Price Books made the rather unexpected announcement that it would be dipping its toe into real estate development.

The decision, executive vice president Kathy Doyle Thomas told us at the time, was less about finding an alternative revenue stream than about boosting the decaying area surrounding its Northwest Highway flagship, where it's building its first (and possibly only) shopping center.

Now, Half Price Books has its first tenant: outdoor equipment retailer REI.

See also: Half Price Books is Getting Into Real Estate Development with a Shopping Center on Northwest Highway

"When we decided to develop this shopping center, we wanted a tenant that our Half Price Books customers would love and we feel like we've gotten that with REI," Thomas said in a press release, calling the company "a great addition to the Vickery Meadow area and we are excited to bring more great retailers to our neighborhood."

So, come spring 2015, REI will decamp from its current location on LBJ Freeway (technically in Farmers Branch) and head to a new, 34,000-square-foot space next door to Half Price where, on top of its current offerings, it will have a full-service bike shop and expanded classes and programming.

Send your story tips to the author, Eric Nicholson.

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