H. Dean Lane Jr. with NewQuest Properties in Houston tells GlobeSt.com that the Phoenix-based PetsMart, with 20 locations in the metro, is planning three more relocations of vintage stores over the next two years. "We are working opportunistically as the markets become available," he explains. PetsMart, on the average, signs 10-year leases.
The pet store retailer leased 28,640 sf in Willowbrook Shopping Center at US Highway 249 and FM 1960 in North Houston. PetsMart will move one of its five oldest stores in the region right across the street to a repositioned 100,000-sf Kmart. Craig Wielansky of Location, Location, Location in Houston represented Willowbrook's local owner, Gulf Coast Commercial, which is bouncing back from bankruptcies by two anchors, Kmart and Service Merchandise Mart.
In the northeast sector of Harris County, PetsMart leased 22,936 sf in an add-on to Deerbrook Marketplace at US Highway 59 in Humble. The retailer will exit a freestanding building and the third store it opened in Houston for the power center. "Anytime they can upgrade their location...that's what their objective will be," Lane says.
Deerbrook Marketplace, owned by DRA Advisors of New York City, is anchored by a Best Buy, Oshman's Sporting Goods, Bed, Bath & Beyond, Marshall's and Toys R Us. Dorinda Cavender of Amerishops Real Estate Services represented DRA Advisors.
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