X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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

HUMBLE, TX-Despite nationwide closures of Dollar General Corp. stores, the discount company has renewed 10,216 sf at Crossroads Shopping Center. With the signing, Dollar General has committed to stay another five years in a space it’s occupied for more than a decade.

Shawn Ackerman with Henry S. Miller Commercial’s Houston office says the quoted rate is $12 per sf to $17 per sf, triple net, for on the 73,655 sf-plaza at 205-249 W. Greens Rd. sf. “The deal was less than that, but this was a large store and a long-term client,” says Ackerman, who represented plaza owner Shomer VIII Ltd. of Houston.

Ackerman tells GlobeSt.com that the center’s owner was fully prepared for the tenant’s departure. Because Dollar General is an anchor tenant, he says the concern was more than justified. “We were bracing ourselves for them to leave, but they signed the papers and they’re good to go for awhile longer,” Ackerman adds.

Dollar General announced in November that it planned to close 400 stories nationwide and slow its rate of openings to try to upgrade the store mix. At that time, the locations of the closings were not disclosed.

The 1980s-era Crossroads Shopping Center remains 76% leased with the deal. An 8,000-sf spot is available. The roster also includes Sherwin Williams Co., Pizza Hut and Cash America Pawn.

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?

 

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
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.