Developer Fires Up Expansion of Market at Lake Houston

HUMBLE, TX-Wachovia Corp. has executed a 49,223-sf ground lease to build a bank in the Market at Lake Houston, a 107,000-sf shopping center that’s now fully leased. The pad site deal kicks off a second wave of construction to tack 60,000 sf of junior anchor space onto the center.

The Market at Lake Houston, owned by Lake Houston/1960 Partners II Ltd., is situated at the intersection of FM1960 and West Lake Houston Parkway. On average, Wachovia has been spending about $3 million to develop branch locations, including land costs, in the Texas markets.