19th Street Retail Center Gains Tenant

HOUSTON-Ainbinder Co. has cornered another tenant for its 19th Street Retail Center in the Heights submarket near Houston’s CBD.

In the new deal, optometrist Lisa Woo of Eye to Eye signed for a 2,000-sf inline spot at 506 W. 19th St., an 11,512-sf center that delivered two years ago. Last year, the retail development, situated on a half acre, won a community improvement award for Ainbinder. Bluebonnet Federal Credit Union also leases space in the center. Heather Nguyen of NewQuest Properties in Houston represented Woo in the lease negotiations.

The center is nestled in a Houston neighborhood of primarily historic homes and scant retail offerings. According to the Harris County Appraisal District, the Ainbinder development’s current assessment is $946,580.

Small retail strip centers such 19th Street absorbed 1,720 sf through the third quarter. The market has an occupancy rate of 88%, with Inner Loop rent at strip centers averaging $1.35 per sf in the third quarter.