HOUSTON-Milan Properties West LLC is making progress on securing the tenant roster for the under-construction, 35,000-sf Jeanetta Pavilion on the city's west side. Leading talks is the Staubach Co.'s retail group.
Jeanetta Pavilions, rising at the corner of Westheimer Road and Jeanetta Street, will deliver in the summer. According to Staubach associate broker Matt Strange, the project's preleasing is going well. He tells GlobeSt.com that a restaurant has committed to an end-cap space, with the lease expected to be signed in March.
"This was an old office building that was demolished, beginning November 2005," says Strange, who is partnering on the preleasing campaign with colleague Dan Smith to sign upscale retailers for the center's mix. The quoted lease rate is $28 per sf for inline space and $32 per sf for end caps. The minimum spot is 1,500 sf.
Strange says the team expects to have signed deals in hand for other spaces before the Los Angeles-based developer opens the center. "There are several other developments in the area as well as a new Target going up down the road," he says of the demand and competition in the corridor.
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