These groups have historically been marketed to separately. The owners of Asian Grocery Supply have connections to several other Asian foods businesses in town and recently decided to branch off into this new retail concept. The tenants have already taken occupancy of the warehouse, according to Ackerman.
The warehouse is part of a 250,000-sf multi-tenant industrial property that was constructed in phases in the late 1970s and recently renovated. Houston Industrial Assets LP owns the property and was represented by John Stavinoha of Houston's Insite Commercial Real Estate in the lease negotiations. Details of the lease were not disclosed, but the property has quoted lease rates of $0.50 per sf.
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