Sandra F. Harris, James E. Foreman and Beau Kaleel with the Houston office of Cushman & Wakefield of Texas Inc. negotiated a long-term lease for 17211 North Freeway on behalf of the Atlanta-based discount retailer. Harris tells GlobeSt.com that an extensive market survey identified 10 to 15 possible locations, but the former Sam's Club property, just south of FM 1960, was the first to be grabbed because the surrounding area's demographics are excellent. Building owner Syracuse Renaissance Partners Ltd. was represented by Charlie Christ of Page Partners in Houston.
Harris says Floor and Decor Outlets is considering another location in the city's southwest submarket. In addition to its homeport and Houston, the two-year-old retailer has stores in Morrow, GA, Jacksonville, FL and Dallas.
The building's rental rate isn't available, but second-generation space in good locations typically brings about $15 per sf, according to a recent report by the Weitzman Group. Class C space ranges from $9 per sf to $12 per sf.
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