HOUSTON-Things are moving fast both at the construction site and the leasing office of the 38,000-sf Fiesta Center at 6 at the southeast corner of Bellaire Boulevard and Texas 6 South in far southwest Houston.

The center, which broke ground 45 days ago, will be completed next month and is set to open shortly thereafter. Edwin “Buster” Freedman, president of United Equities Inc., tells GlobeSt.com that leasing is nearly 50% pre-committed. The one completed deal is an 8,000-sf, 10-year lease struck by Family Dollar, headquartered in Matthews, NC, which has more than 60 stores in Houston. Freedman says there are four other leases “out for signature,” some of which are additional national retailers.

The 38,000 sf is rising on 5.4 acres as shadow retail to an abutting 75,000-sf Fiesta Mart grocery store. Charles Scoville, head of acquisitions for United Equities, won't disclose the project cost, but did say that comparable product would carry a development price tag of nearly $80 per sf.

Houston-based Paramount Properties Inc. is the owner and developer of the center, securing construction financing from the Bank of Texas. Kristen Hill and Tim Sandifer, a United Equities team, are leasing the development.

The three-mile trade area's population over the last 15 years has grown by 40%, with the current census now 61,000 residents. Scoville says the population growth, which translates into retail demand, is part of the reason for the site selection.

Instant Insights /

38,000-SF Shopping Center Nears Completion

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