Target-Anchored Center Targets Growing Population

SPRING, TX—Kimco Realty Corp. opened its Grand Parkway Marketplace, a 75-acre development in close proximity to tens of thousands of shoppers. The development is located along the newly opened Grand Parkway and street frontage along Spring Stuebner Road and Kuykendahl Road in the Houston-The Woodlands-Sugar Land metro area.

“Grand Parkway Marketplace will put a fresh face on retail in the region, and will be a major benefit to this large and growing population, providing goods and services that are currently inconvenient to obtain for those that live and work nearby,” Robert Nadler, president, central region of Kimco Realty tells GlobeSt.com. “The 5-mile radius has a population of 179,133 people and they have an average income of $111,987. Residents of the upscale community, The Woodlands, have a direct route to the project and new facilities for five major corporations will deliver thousands of employees right to our back yard.”

A 126,000-square-foot Target also opened its doors to the public this week, the first retailer to open in the development. In addition to Target, multiple anchor tenants are scheduled to open at the center in the next few months, including TJMaxx, Michaels, PetSmart, Burlington, Famous Footwear, DSW, Ulta, Party City and Five Below.

The project's $87-million 488,000-square-foot phase one is scheduled for completion in the third quarter of this year and is already approximately 80% leased. Additionally, Grand Parkway Marketplace II is under development. This second phase located across the street has three anchor boxes, two of which have been leased by Hobby Lobby and Academy Sports + Outdoors, with the third under lease negotiation.

The planned $52-million phase two development will include a number of multi-tenant retail buildings, and several outparcels for restaurants, banks or other retail uses. In aggregate, the two phases will encompass more than 110 acres and will create a retail hub of approximately 750,000 square feet.

SPRING, TX—Kimco Realty Corp. opened its Grand Parkway Marketplace, a 75-acre development in close proximity to tens of thousands of shoppers. The development is located along the newly opened Grand Parkway and street frontage along Spring Stuebner Road and Kuykendahl Road in the Houston-The Woodlands-Sugar Land metro area.

“Grand Parkway Marketplace will put a fresh face on retail in the region, and will be a major benefit to this large and growing population, providing goods and services that are currently inconvenient to obtain for those that live and work nearby,” Robert Nadler, president, central region of Kimco Realty tells GlobeSt.com. “The 5-mile radius has a population of 179,133 people and they have an average income of $111,987. Residents of the upscale community, The Woodlands, have a direct route to the project and new facilities for five major corporations will deliver thousands of employees right to our back yard.”

A 126,000-square-foot Target also opened its doors to the public this week, the first retailer to open in the development. In addition to Target, multiple anchor tenants are scheduled to open at the center in the next few months, including TJMaxx, Michaels, PetSmart, Burlington, Famous Footwear, DSW, Ulta, Party City and Five Below.

The project's $87-million 488,000-square-foot phase one is scheduled for completion in the third quarter of this year and is already approximately 80% leased. Additionally, Grand Parkway Marketplace II is under development. This second phase located across the street has three anchor boxes, two of which have been leased by Hobby Lobby and Academy Sports + Outdoors, with the third under lease negotiation.

The planned $52-million phase two development will include a number of multi-tenant retail buildings, and several outparcels for restaurants, banks or other retail uses. In aggregate, the two phases will encompass more than 110 acres and will create a retail hub of approximately 750,000 square feet.