HOUSTON-Two more retailers will be added to the 11,156-sf tunnel mix for 1001 McKinney, each signing five-year pacts for high-traffic space.
A Shipley's Donuts franchisee leased 1,081 sf of "vanilla box" space that was carved from an untapped area in the retail underpinnings of the 24-story, 371,192-sf, class A high rise in the CBD, Kevin Block with locally based Levcor Inc., tells GlobeSt.com. In the second lease, Miller's Cafe will open in a restaurant spot that went dark 18 months ago. Shipley's is expected to open by year's end while the restaurateur is to light its 1,082 sf in mid-December.
The donut operator "wanted to be in the downtown for a long time," says Block, who worked out a direct deal with the franchisee. Miller's Cafe had David Wise and Patrick Keegan with the Retail Properties Group of Houston bargaining its pact.
Block says he is negotiating to fill a 1,155-sf opening in the retail component, which adjoins a light-rail stop. The tunnel retail's occupancy is 71%, with quoted rates of $18 per sf to $23 per sf, triple net. Other tenants are Subway, Merle Norman Cosmetics Studio and a bank, deli, pharmacy, newsstand and wireless communications company. Locally based Transwestern Commercial Services leases the office space for the local owner of record, 1001 McKinney Venture LP.
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