Vintage Friendswood Plaza Getting Facelift

FRIENDSWOOD, TX-A vintage shopping plaza at a busy intersection that lost tenants to more modern centers is set to take on a new look under a two-year plan for a facelift and possible expansion.

Will Deane, managing director of retail services for Houston-based Transwestern Commercial Services, tells GlobeSt.com that plans are in the works for a new facade and more retail space to make the 94,752-sf Baywood Plaza more competitive in its submarket. "All the dynamics are there," Deane says, noting the 20-year-old plaza, situated along FM 528 in Friendswood, has a high-traffic frontage and good visibility that are the earmarks of success. "What we have here is a market that is still growing at an intersection that has no new development. It's a dynamic center with good demographics but we have to give it a new look. After that, all the other dynamics will sell the center on its own."

Deane, whose firm handles the leasing and management duties for Baywood's owner, CAN Enterprises of Los Angeles, says repositioning of the fading plaza, located across the street from two other successful centers, is under way, but the results of those efforts may take as long as two years to come to fruition. He says some astute business owners, aware of the area's high-traffic volume, already are taking note. CVS Pharmacy and Dollar Tree have staked a claim at Baywood, putting the plaza at 65% occupancy.

Deane says repositioning plans also call for pitching the plaza to some national retailers, which could fill up the vacant space even quicker, and enhancing the available on site pad space. Rental rates, ranging from $10.50 per sf to $12.50 per sf, may help too since they are set below those of the competition. If the plan is successful, Deane says Baywood could experience a new synergy that will bring customers flooding back to the once vibrant neighborhood center.