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LEAGUE CITY, TX-Bay Colony Town Center has reached 80% occupancy after seven retailers leased a total of 23,590 sf.

Houston-based developer Newquest Properties Inc. broke ground on the 200,000-sf retail center in January. Located on more than 20 acres at 2945 Gulf Freeway South at the intersection of Interstate 45 and FM 646 South, Bay Colony Town Center is anchoredby a 100,000-sf HEB grocery store.

“There is such a huge demand because this is an underserved market,” says Heather Nguyen, vice president of NewQuest. She says Bay Colony Town Center is situated in a very fast growing part of League City and at the center of residential growth.

The tenants, all signing long-term leases, are UT Medical Branch Women’s Healthcare with 9,920 sf; 888 Chinese Restaurant, 3,000 sf; Jammin’ Sportswear, 2,787 sf; Sprint Inc., 2,513 sf; the Great Frame Up, 1,995 sf; Dental Etc., 1,875 sf and the UPS Store, 1,500 sf.

Nguyen tells GlobeSt.com that the remaining space is under negotiations. In particular, she is working with national restaurant chains and local restaurateurs for the space. “Being by the freeway has certainly created a lot of interest for restaurants,” she says.

Other tenants at Bay Colony Town Center, which leases for $20 per sf to $26 per sf, include Subway, Wells Fargo Bank and Bank of America. Most of the tenants are just now having their grand openings, Nguyen says. Kenneth Katz of Houston-based Wulfe & Co. represented Sprint.

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