HOUSTON—Transwestern has begun construction on Phase I of the Market at Crenshaw, a 168,924-square-foot, two-phase retail development located on 23.57 acres in the Pasadena submarket, on Beltway 8 between Crenshaw Road and Fairmont Parkway.

Transwestern retail vice presidents Grant Walker and Crystal Allen were retained to lease the property on behalf of the developer, a partnership of Ley-Wilson Development LLC and H5 Ventures LLC, and have leased more than 90 percent of the first phase of development. A Transwestern team led by vice president Robert Nguyen has also been retained to provide property management and construction management services.

“Leasing velocity has built since we started marketing the project, and now that construction has commenced at the site, deal volume has significantly increased,” Allen told GlobeSt.com. 

Tenants that have executed leases at the property include Burlington (55,000 square feet), Party City (18,000 square feet), Tuesday Morning (12,000 square feet), Mattress One (4,000 square feet), Xfinity by Comcast (4,000 square feet) and MOD Pizza (2,700 square feet).

Phase I, totaling 108,924 square feet, is scheduled for delivery in the third quarter. Phase II, which will include an additional 60,000 square feet, will commence construction in the next 90 days and is slated for delivery in second quarter 2016.