HOUSTON-H&R Block has signed two five-year leases for 1,960 sf in two shopping centers, the 170,000-sf Atascocita Shopping Center in Humble and 28,000-sf Village Green in Houston. In both deals, tenant improvement allowances were assessed at $5 per sf.
In January, H&R Block will open in 1,260 sf at Atascocita Shopping Center, managed by Fowler Trinity Properties, a partnership from Southern California and Dallas. Located at 6900 FM 1960 East, the 85%-leased center's quoted rate is $12 per sf to $18 per sf.Meanwhile, H&R Block will set up shop in a 900-sf space in Village Green Shopping Center at 14144 Westheimer Rd. The 80%-leased center is owned by VG Realty Partners of Midland.
Jason Gaines, an associate with Henry S. Miller Commercial's Houston office, says the transactions are standard deals for the tenant, which is known for its deft handling of tax forms for a variety of clients during income tax season. "They're always doing deals for property in these areas," says Gaines, who with Henry S. Miller colleague Shawn Ackerman, represented the building owners in both deals. Gaines tells GlobeSt.com that both transactions were negotiated to market rates. H&R Block used its in-house real estate team to negotiate the leases.
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