X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-An East Houston tract is headed to the drawing boards for a 200,000-sf retail development with the closing of a 19.2-acre sale at the juncture of US Highway 10 and Hayden Road.

The buyer of record is I-10 Hayden Ltd. The project calls for a retail center and several restaurant pads. And, the plan is to be opening doors in fourth quarter 2002.

Ewing King, Scot Luther and Jim Peterson of Houston’s Read, King and Luther represented the buyer. Monte L. Tinkham and Brendan Lynch, both senior vice presidents with CB Richard Ellis Inc. in Houston, handled talks for KBM Investments NV, a private overseas investment group.

Luther tells GlobeSt.com that the area generates $250 million annually in retail sales. The acreage is located east of Houston near Jacinto City, where big boxes are cropping up regularly. The proposed development will be positioned between Wal-Mart and Sam’s Club and close to Home Depot, Circuit City and sundry other retailers. There is, says Luther, a lot of pent-up demand in the market that he believes is underserved by retailers.

Luther already has talks under way with four restaurant chains and five national discount retailers. Read, King and Luther are handling the marketing of the property. Luther says an engineer has been hired. The general contractor and architect have not been signed for the project.

According to Revac’s Shopping Center Market Survey, 3.4 million sf of retail center construction has been completed thus far this year. Some 4.75 million sf in 25 centers are under construction and another 4.6 million sf in 22 centers are up and coming for the Houston region.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.