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

HUMBLE, TX-Denny’s Corp., headquartered in Spartanburg, SC, has signed a 20-year ground lease for a five-acre pad site, the last one in the Atascocita Plaza development.The pad site was marketed at $3 per sf.

“They ended up pretty close to it. We didn’t negotiate it for long,” says Shawn Ackerman with Henry S. Miller Commercial in Houston, who, with Jason Gaines represented the property’s owner, FPA Atascocita Partners LP. Josh Jacobs with Paige Realty Partners Ltd. in Houston represented Denny’s in the deal for 6900 FM 1960 E. The 157,000-sf Atascocita Plaza’s inline space is at 85% occupancy.

Ackerman tells GlobeSt.com that the restaurant owner began construction within 48 hours of signing the lease. The 4,000-sf eatery should be completed and ready for business within 90 to 120 days. “They had the permits and everything else lined up prior to the lease signing so they were ready to go almost immediately,” he adds. While the exact construction budget isn’t available, he says, on average, similar restaurants cost $130 per sf to build.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.