HOUSTON—The $16 million The Shoppes of Kemah is set to bring some well-known national brands to this thriving submarket. GBT Realty Corporation of Brentwood, TN acquired the 11.7-acre center along Deke Slayton Highway immediately west of State Route 146 from Kemah Marketplace LP last month.
GBT has set its sights on the region's hottest entertainment district with its plans for the latest retail development in Greater Houston. The Kemah Entertainment District is a well-known tourism spot and features a 35-acre carnival-like atmosphere.
“It was an easy decision to pursue a shopping center in this community that has become a regional tourist destination in part due to the popularity of the Kemah Entertainment District,” explains Jeff Pape, managing director, shopping center division, GBT Realty. “The Shoppes of Kemah is just a short drive from the Kemah Boardwalk that is recognized as one of the premier boardwalks in the United States with 60 acres of top-name restaurants, retail shops, rides, games and attractions, as well as a hotel and marina.”
Shadow-anchored by Walmart, the initial tenant line-up for the 79,000-square foot retail center includes Petco, Marshalls, Ross Dress for Less, ULTA and Rack Room Shoes. With the center 92% leased, only 6,400 square feet of shop space remains available, which may be appropriate for local/regional boutiques and other service providers.
The site has connectivity to the Walmart parking lot and access to Deke Slayton Highway with an average of more than 12,000 vehicles daily. Approximately 44,000 households within a 10-minute drive post an average household income of nearly $100,000.
“Not only is the Kemah Boardwalk an attraction to residents and tourists alike, the city is spending more than $1 million to enhance Kemah's core,” Jenn Weyand of GBT Realty tells GlobeSt.com. “We feel the energy that already exists around Kemah's Entertainment District, along with the expected growth of the Harris Street corridor, supports the need for the additional retail and service amenities that we have secured for The Shoppes of Kemah.”
The Shoppes of Kemah is an example of GBT working in partnership with the local government to ensure a quality project for Kemah consumers. In April, the city council approved an incentive package to make this project possible with new jobs and increased annual sales tax revenue.
“The city was pivotal in making this project a reality,” Pape continued. “The mayor, city administrator and the entire city council were engaged from the beginning and worked tirelessly with us to ensure the terms are a win-win for both the city as well as the shopping center. Kemah, TX is also an example of GBT aligning with the expansion strategies of our retail partners and heading to where many other developers won't go or overlook.”
HOUSTON—The $16 million The Shoppes of Kemah is set to bring some well-known national brands to this thriving submarket. GBT Realty Corporation of Brentwood, TN acquired the 11.7-acre center along Deke Slayton Highway immediately west of State Route 146 from Kemah Marketplace LP last month.
GBT has set its sights on the region's hottest entertainment district with its plans for the latest retail development in Greater Houston. The Kemah Entertainment District is a well-known tourism spot and features a 35-acre carnival-like atmosphere.
“It was an easy decision to pursue a shopping center in this community that has become a regional tourist destination in part due to the popularity of the Kemah Entertainment District,” explains Jeff Pape, managing director, shopping center division, GBT Realty. “The Shoppes of Kemah is just a short drive from the Kemah Boardwalk that is recognized as one of the premier boardwalks in the United States with 60 acres of top-name restaurants, retail shops, rides, games and attractions, as well as a hotel and marina.”
Shadow-anchored by Walmart, the initial tenant line-up for the 79,000-square foot retail center includes Petco, Marshalls, Ross Dress for Less, ULTA and Rack Room Shoes. With the center 92% leased, only 6,400 square feet of shop space remains available, which may be appropriate for local/regional boutiques and other service providers.
The site has connectivity to the Walmart parking lot and access to Deke Slayton Highway with an average of more than 12,000 vehicles daily. Approximately 44,000 households within a 10-minute drive post an average household income of nearly $100,000.
“Not only is the Kemah Boardwalk an attraction to residents and tourists alike, the city is spending more than $1 million to enhance Kemah's core,” Jenn Weyand of GBT Realty tells GlobeSt.com. “We feel the energy that already exists around Kemah's Entertainment District, along with the expected growth of the Harris Street corridor, supports the need for the additional retail and service amenities that we have secured for The Shoppes of Kemah.”
The Shoppes of Kemah is an example of GBT working in partnership with the local government to ensure a quality project for Kemah consumers. In April, the city council approved an incentive package to make this project possible with new jobs and increased annual sales tax revenue.
“The city was pivotal in making this project a reality,” Pape continued. “The mayor, city administrator and the entire city council were engaged from the beginning and worked tirelessly with us to ensure the terms are a win-win for both the city as well as the shopping center. Kemah, TX is also an example of GBT aligning with the expansion strategies of our retail partners and heading to where many other developers won't go or overlook.”
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