According to the tenant's representative, J. Braxton Brockenbrough, assistant vice president with the Weitzman Group's Houston team, Melrose will open doors in the 6820 Harrisburg Blvd. center in 30 to 60 days. "The tenant is handling cost of improvements," he tells GlobeSt.com. "They want to give their space a specific identity so they generally make improvements." Property owner Weingarten Realty Investors of Houston used an in-house broker to package the deal.
Brockenbrough says Melrose has no specific goals for expansion nor are the stores restricted in size although 10,000 sf to 12,000 sf tends to be the average. "They're fairly conservative with how they expand," he says. "If they find something that makes sense, they'll go into it." He adds that the retailer also looks for strong co-tenants in a primarily Hispanic community and aggressively priced lease rates. "They try to keep their overhead and costs down to serve their customers," Brockenbrough adds.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.