HOUSTON-Three restaurants–I-Hop, Sonic and Whataburger–have committed to pad sites at Spring Cypress Crossing, a 46-acre shopping center underway at Texas 249 and Spring Cypress Road in far northwest Houston.
The shopping center is being developed by Houston-based Caldwell Watson Real Estate Group. The center will ultimately house 400,000-sf of retail space. Approximately 204,000 sf of that total belongs to anchor tenant Wal-Mart SuperCenter, which recently opened its store.
Another 15,000-sf strip of speculative retail space is currently under construction. Lease negotiations are underway with several credit tenants for that space. Additionally, a national bank and two upscale restaurants are in talks for space at the center.
Keith Grothaus, VP of Caldwell Watson's land division tells GlobeSt.com that the pad sites and retail strip should be finished and opened for business in the first quarter of 2004.
“This particular area of northwest Houston is experiencing tremendous growth,” says Grothaus. “More than 10,000 homes have been built within a five-mile radius of our development within the past two years.”
Grothaus adds that Caldwell Watson began assembling the land for this development in the mid-1990s. Tim Seckinger, VP of Caldwell Watson's retail division is overseeing leasing at the project.
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