X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-Three tenants have signed medium- to long-term leases at the 157,696-sf Hedwig Village Shopping Center for a total of 9,808 sf, bringing the occupancy of the recently remodeled center to 89%.The strip shopping center, located at 9401-9431 Katy Freeway, is the new home for Famous Brand Shoes, Inc./Shoe Cents, which took a five-year lease for 3,680 sf; Southwell’s Grill IV, LP, which inked a 10-year deal for 2,700 sf; and Spring Valley Cycleries, Inc., which is taking on 3,428 sf for five years.The late-1980s constructed big box center, which began life as a Target-anchored property, was purchased by the landlord, Levain Partnership III, LP of Houston, and remodeled to accommodate smaller tenants.According to Kevin Block of Levcor Inc. who, with Scott Gordon, represented the landlord/owner in the transactions, all three deals required various TIs and some buildouts before occupancy could take place.”Shoe Cents should open no later than March 1, Spring Valley Bikes is under construction and Southwells should be under construction soon, within the next 90-120 days,” Block says.He tells GlobeSt.com that activity is strong on the property, as another lease will soon be signed, with “several other deals in play right now. We’re likely to see the remaining vacancies leasing up in early 2006.” The quoted rate per sf is $16-$22.In the transactions, Shoe Cents was self-represented, Kevin Poynter of Houston-based Mac Haik Enterprises represented Southwell’s and Phil Jones of CRESA Partners’ Houston office was on hand for Spring Valley Cycleries.

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.