X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(For more retail coverage, click GlobeSt.com/RETAIL.)

HOUSTON-As part of its mission to serve under-employed areas of the city through job training and placement services, HoustonWorks USA has signed a 10-year, 21,768-sf lease for a new job placement service location.

The 12710 Bissonnet property previously was a Pep Boys auto center. According to Shawn Ackerman with Henry S. Miller Commercial’s Houston office, the tenant is investing about $40 per sf into renovating the space into a regional training hub. The facility will be ready to occupy in the first quarter. HoustonWorks USA, a nonprofit organization with multiple locations throughout the area, provides job placement, continuing education and vocational services for lower-income job seekers.

“Rather than being in the back of a shopping center, this location provided the tenant with more visibility, more brand identity and their own parking lot,” Ackerman says. “They believe they’ll help more people if they’re right there, on the main drag.”

Ackerman, the tenant’s broker, tells GlobeSt.com that the going rate for the building was $7 per sf, triple net. “We came in a little lower than that, mainly because the tenant said they’d take it as is,” he says, adding negotiations were done directly with building owner, Post Avenue Commons LLC of New York City.

“We looked at a lot of sites. We looked everywhere, but ultimately they chose this location because of the demographics here,” Ackerman says. “They wanted to be in a location where they could be of most help. And, they felt they could do the most good in this market.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.