subject: Recent Retail Leases In Houston [print this page] Retail occupancy in the Houston market stood at 82.62% in fourth quarter of 2011, an increase of 0.18% compared to the 3rd quarter 2011. Overall rents stood at $1.54 in 4th quarter of 2011, over a decrease of $0.03 compared to the 4th quarter 2010. Some of the recent leases recorded in the retail market of Houston area include:
In December 2011, Kohls Department Stores has leased 64,250 square feet at Meyer Park Center , a 196,000 square-foot community center located at 9835 South Post Oak Road in the Near Southwest sector. The 23-year-old property is 68% occupied with average rent rate is $1.33 per square feet. The retail building is located East of South Post Oak Road and North of Meyer Park Blvd. The Multi Tenant property situated on 28.50 Acres. Completed in 1988. Tenants at the property include Dollar Tree Store and Sally Beauty Supply. Mike Barnett of Canyon Partners represented the tenant, while Culver Stedman of EDGE Realty Partners represented the landlord.
Steiner Leisure Limited has leased 20,000 square feet at Hollister Pointe Center, an 87,000 square-foot neighborhood shopping center located at 13147 Northwest Freeway in the Near Northwest sector, from MJT Associates Inc. The 14-year-old property is 69% occupied. The neighborhood center is grocery anchored. The multi tenant building is situated on 9.34 acres. According to the appraisal district records, the total assessed value is $6.5 million. Completed in 1997. Wes Miller and Jeanie Gibbs of Wulfe & Co represented the landlord.
One of the most significant lease in the month of January 2012, Marshalls has leased 25,000 square feet at Tomball Marketplace Center, a 328,000 square-foot community center located at 27620 FM 2920 Road in the Far Northwest sector, from Weingarten Realty Investors. The two-year-old property is 86% occupied. The anchored property is situated on 1.23 acres. Completed in 2009. Culver Stedman of Edge Realty represented the tenant, while Brooke Harvey represented the landlord in-house.
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