Content about Houston

April 10, 2014

Rite Aid announced it has acquired Houston-based RediClinic, one of the nation’s leading operators of retail clinics.

Camp Hill, Pa. — Rite Aid on Thursday announced it has acquired Houston-based RediClinic, one of the nation’s leading operators of retail clinics. RediClinic currently operates 30 clinics in the greater Houston, Austin and San Antonio areas. Through the acquisition, RediClinic will operate as a wholly owned subsidiary of Rite Aid. 

Details of the transaction were not disclosed.

April 10, 2014

In the wake of acquiring Houston-based RediClinic, Rite Aid on Thursday reported revenues of $6.6 billion for the fourth quarter ended March 1, resulting from a 2.2% lift primarily attributed to an increase in pharmacy same-store sales.

Camp Hill, Pa. — In the wake of acquiring Houston-based RediClinic, Rite Aid on Thursday reported revenues of $6.6 billion for the fourth quarter ended March 1, resulting from a 2.2% lift primarily attributed to an increase in pharmacy same-store sales. For the full year, Rite Aid reported $25.5 billion in revenues, up 0.5%.

April 7, 2014

The 1.2-million-sq.-ft. Baybrook Mall in Houston is getting another 550,000 sq. ft.

Friendswood, Texas — The 1.2-million-sq.-ft. Baybrook Mall in Houston is getting another 550,000 sq. ft. The mall owner, General Growth Properties, and the landowner, a CDC Houston-managed entity, have formed a joint venture to carry out he project. Work will begin in early May and completed by the 2015 holiday season.

April 2, 2014

Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets.

New York — Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets. The space includes 1,350 sq. ft. on the ground floor and 1,350 sq. ft. on the lower level. The quick-service restaurant will be the chain’s ninth location since if first opened a few blocks away at West 4th Street in 1994.

April 2, 2014

Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets.

New York — Pita Grill has signed a 12-year lease for 2,700-sq. ft. in Greenwich Village at 496 LaGuardia Place between West Houston and Bleecker Streets. The space includes 1,350 sq. ft. on the ground floor and 1,350 sq. ft. on the lower level. The quick-service restaurant will be the chain’s ninth location since if first opened a few blocks away at West 4th Street in 1994.

March 26, 2014

While 91 new stores boosted sales for the final fiscal quarter and year-end, Francesca’s Holdings Corp. saw net income for the 13-week period ended Feb. 1 slide to $10.6 million, from $14.9 million last year.

Houston -- While 91 new stores boosted sales for the final fiscal quarter and year-end, Francesca’s Holdings Corp. saw net income for the 13-week period ended Feb. 1 slide to $10.6 million, from $14.9 million last year.

Same-store sales fell 6%, swinging from a 10% increase in the prior year quarter. Revenue surged to $92.1 million from $86.7 million, helped by 91 new boutique openings since the prior year quarter.  Five of the 91 opened during the fourth quarter.

March 20, 2014

Houston-based developer NewQuest Properties is reportedly planning to build a roughly 22-acre shopping center in southwest Shreveport, La.

Shreveport, La. – Houston-based developer NewQuest Properties is reportedly planning to build a roughly 22-acre shopping center in southwest Shreveport, La. According to the Shreveport Times, the center will be known as Camp Forbing Town Center and be located on a 47-acre parcel owned by the YMCA.

February 26, 2014

Torchy’s Tacos has leased a 3,886-sq.-ft. restaurant at LaCenterra at Cinco Ranch in the Houston suburb of Katy, according to Vista Equities Group, the owner of the center. Baker Katz represented Torchy’s in the transaction.

Houston — Torchy’s Tacos has leased a 3,886-sq.-ft. restaurant at LaCenterra at Cinco Ranch in the Houston suburb of Katy, according to Vista Equities Group, the owner of the center. Baker Katz represented Torchy’s in the transaction.

February 24, 2014

Men's Wearhouse has increased its purchase offer for Jos. A. Bank Clothiers Inc. to $63.50 per share, or about $1.78 billion, from $57.50 per share, or about $1.6 billion.

Houston - Men's Wearhouse has increased its purchase offer for Jos. A. Bank Clothiers Inc. to $63.50 per share, or about $1.78 billion, from $57.50 per share, or about $1.6 billion.

The retailer said it may increase its bid to $65 a share, or about $1.82 billion, if Jos. A. Bank agrees to halt its planned acquisition of Eddie Bauer and lets Men’s Wearhouse conduct limited due diligence. On Feb. 14, Jos. A. Bank agreed to buy Eddie Bauer for $825 million, but reserved the right to terminate the deal if a superior transaction emerged.

January 24, 2014

The Home Depot has acquired Houston-based window coverings retailer Blinds.com.

Atlanta – The Home Depot has acquired Houston-based window coverings retailer Blinds.com. As The Home Depot continues to implement its interconnected retail strategy, the company will work with Blinds.com to expand its technology into Homedepot.com and the company's stores with the goal of improving the entire end-to-end buying process for window coverings.

The Blinds.com management team and staff will remain intact at its headquarters in Houston. The acquisition closed Jan. 23 and terms of the deal were not disclosed.

December 16, 2013

Growth in the Houston retail estate market is expected to follow strong residential real estate growth in 2014.

Houston – Growth in the Houston retail estate market is expected to follow strong residential real estate growth in 2014. According to a report from NewQuest Properties delivered at the recent BoyarMiller Real Estate Forum, there are about 15 new shopping centers planned or under way in Houston.

In addition, the Houston retail sector is struggling to keep up with growth in the city and experiencing very low vacancy and default rates

December 16, 2013

Growth in the Houston retail estate market is expected to follow strong residential real estate growth in 2014.

Houston – Growth in the Houston retail estate market is expected to follow strong residential real estate growth in 2014. According to a report from NewQuest Properties delivered at the recent BoyarMiller Real Estate Forum, there are about 15 new shopping centers planned or under way in Houston.

In addition, the Houston retail sector is struggling to keep up with growth in the city and experiencing very low vacancy and default rates

December 12, 2013

Exceptional job growth, population gains and improved retail fundamentals have significantly elevated the sales prices for shopping centers in Texas over the last year, according to Deal Sikes & Associates, a Houston-based real estate valuation and counseling firm.

Houston — Exceptional job growth, population gains and improved retail fundamentals have significantly elevated the sales prices for shopping centers in Texas over the last year, according to Deal Sikes & Associates, a Houston-based real estate valuation and counseling firm.

Some retail properties have increased in value more than 20 percent in 2013, compared to last year, added Matthew Deal, principal at Deal Sikes & Associates.

December 11, 2013

Jones Lang LaSalle’s Capital Markets group has closed the sale of Northwest Crossing Centre, a 179,469-sq.-ft., fully leased shopping center in Houston.

Houston Jones Lang LaSalle’s Capital Markets group has closed the sale of Northwest Crossing Centre, a 179,469-sq.-ft., fully leased shopping center in Houston. USA Properties purchased the property from Weingarten Realty. JLL secured 10-year, fixed-rate financing for the acquisition.

December 6, 2013

Simon Property Group announced today that four new, high-end retailers, Rolex, Tod's, Trina Turk and Tourbillon, will be added to the retail mix at The Galleria shopping center in Houston.

Houston -- Simon Property Group announced today that four new, high-end retailers, Rolex, Tod's, Trina Turk and Tourbillon, will be added to the retail mix at The Galleria shopping center in Houston. Gucci, Tory Burch, Zara, Sephora and Club Monaco will also execute lease renewals and expansions in 2014. In addition, Chanel has renewed its lease and will be renovating the boutique.

Details of 2014 activity at The Galleria in Houston include:

December 6, 2013

Simon Property Group has announced four new leases for The Galleria in Houston.

Houston — Simon Property Group has announced four new leases for The Galleria in Houston.

Rolex will open an 1,800-sq.-ft. store next summer in Galleria I. Taking 2,815 sq. ft. Tourbillon will open its first Houston store in Galleria II in the early summer of 2014. Tod’s will debut in Houston with a 2,000-sq.-ft. store opening in Galleria I in early summer 2015. Trina Turk will open a 1.400-sq.-ft. store in the fall of 2014 in Galleria I.

December 2, 2013

Krispy Kreme has signed a development agreement with Dulce Restaurants, LLC, to develop 10 new Krispy Kreme shops in Houston over the next five years.

Winston-Salem, N.C. -- Krispy Kreme has signed a development agreement with Dulce Restaurants, LLC, to develop 10 new Krispy Kreme shops in Houston over the next five years.

Dulce Restaurants, LLC, a subsidiary of Dallas-based Sun Holdings, LLC, currently operates three Krispy Kreme locations in Dallas, and has plans to open an additional 15 Dallas shops through 2018.

December 2, 2013

Real estate plays a key role in optimizing retail store portfolios. Stores must have enough square footage but never too much. Portfolios must also match the number of stores across regions to customer demand. 

“Portfolio optimization means reducing or adding store square footage and matching merchandising and inventory to customer demand in a trade area,” said Kenneth Katz, principal with Houston-based Baker Katz. 

November 20, 2013

Nordstrom will open a Nordstrom Rack at Village Plaza at Bunker Hill in Houston.

Seattle – Nordstrom will open a Nordstrom Rack at Village Plaza at Bunker Hill in Houston. The 30,357-sq.-ft. store is scheduled to open in spring 2014.

The first Houston Rack store opened at The Centre at Post Oak in 2010, and the Bunker Hill Rack will be the third Rack in four years to open in the area. Nordstrom first came to Houston with a full-line store at The Galleria in 2003. The company will open its second Houston full-line store at The Woodlands Mall on September 5, 2014.

November 15, 2013

Susser has signed a definitive agreement to acquire substantially all of the convenience store assets and fuel distribution contracts of Sac-N-Pac Stores, Inc. and 3W Warren Fuels, Ltd.

Houston – Susser has signed a definitive agreement to acquire substantially all of the convenience store assets and fuel distribution contracts of Sac-N-Pac Stores, Inc. and 3W Warren Fuels, Ltd.

November 12, 2013

Trademark Property Co. has announced that Trina Turk and Kendra Scott Jewelry will open at Market Street-The Woodlands, a mixed-use destination located north of Houston.

Fort Worth, Texas — Trademark Property Co. has announced that Trina Turk and Kendra Scott Jewelry will open at Market Street-The Woodlands, a mixed-use destination located north of Houston.

Both retailers plan to open in the spring 2014. Construction of the new 2,000-sq.-ft. Trina Turk boutique will begin in January. Work will get underway on the 1,200-sq.-ft. Kendra Scott store this month.

November 8, 2013

RadioShack will open its newest Houston location as a concept store on Nov. 9.

Fort Worth, Texas -- RadioShack will open its newest Houston location as a concept store on Nov. 9. All concept stores in the company's portfolio feature an upgraded shopping experience, which showcases the company's new look, and incorporates interactive areas designed to help shoppers improve their technology profile.

Some features include:

October 24, 2013

Transwestern’s San Antonio office today announced that it has completed the sale of Rosenberg Center in Rosenberg, Texas, a suburb of Houston.

San Antonio, Texas — Transwestern’s San Antonio office today announced that it has completed the sale of Rosenberg Center in Rosenberg, Texas, a suburb of Houston. Built in 1986, the 113,430-sq.-ft. neighborhood retail center serves a commercial corridor between Rosenberg and Richmond, Texas. A private investor bought the property for an undisclosed amount from Rosenberg Station LLC.

October 16, 2013

The Mansour Group has completed the sale of an LA Fitness in Houston for $12 million.

Houston — The Mansour Group has completed the sale of an LA Fitness in Houston for $12 million. The 45,000-sq.-ft. facility is located in Houston’s Memorial Area, the wealthiest neighborhood in the city and the sixth wealthiest zip code in the state.

Mansour www.themansourgroup.com marketed the property on behalf of the seller, a national REIT. The buyer was another institutional REIT.

 

September 10, 2013

Transwestern’s Houston headquarters today announced that it is acquiring Richards Barry Joyce & Partners, a full-service real estate firm based in Boston.

Houston — Transwestern’s Houston headquarters today announced that it is acquiring Richards Barry Joyce & Partners, a full-service real estate firm based in Boston. It will become Transwestern’s 34th U.S. office.