With its location and submarket demand as the catalysts, Park Air 59 has landed Floor & Décor as the third retailer for the 111-acre mixed-use development near George Bush Intercontinental Airport in northeast Houston.

The Atlanta-based retailer has inked a 79,864-sf lease for a single-tenant building to be constructed on a 5.5-acre shovel-ready site fronting US Hwy. 59's service road in Humble. Construction is expected to start in early January.

"The northeast corridor was one of the few missing links in Floor & Décor's presence in Greater Houston," says Austin Alvis, an associate with NewQuest Properties who represents the developer, Archway Properties, along with Preston Cunningham of Cunningham Ventures.

Floor & Décor has six stores in Greater Houston and 15 statewide. Jeff Kittleson and Matt Keener of CBRE were the tenant representatives for the flooring retailer.

The master-planned Park Air 59 is situated at the eastern edge of one of the world's busiest airports and boasts a three-quarter mile stretch of unobstructed freeway frontage, direct access to the FM 1960 corridor and a trade area with fast-paced, high-growth demographics.

"Development of Park Air 59 has really exploded in 2018. Of the original 111 acres, there are less than 21 remaining," Alvis says. "All that remain are pad sites fronting 59 and Will Clayton Parkway. We expect those to be committed by the end of 2019."

The Floor & Décor prelease takes Park Air 59 to 1.2 million sf of committed, built and under-construction space at the junction of US 59 and Will Clayton Parkway. The big-box project will be adjacent to the recently opened Rooms to Go, facing the freeway's on-ramp. The existing retail component includes a Sunoco service station and Schlotzsky's restaurant. In the under-construction category are Vital Heart & Vein's 65,000-sf medical office building and Jackson Shaw's 320,000 sf of industrial space. Site work also has begun on a class A, 685,400-sf cross-dock speculative project, a joint venture development between Archway Properties and Ridgeline Property Group for USAA Real Estate.

"We were always anticipating this level of demand would exist for Park Air 59 because of the surrounding growth and the airport. It's all come together in the past year," says Ben Allen, development manager for Houston-based Archway Properties.

Park Air 59 is master-planned for retail, restaurant, class A industrial and service-related uses, including medical, and situated at one of the most highly visible locations in a high-growth corridor with more than 8,500 single-family homes. Within the five-mile trade area, there are nearly 155,000 residents with an estimated average annual household income of $88,710. The airport's official healthcare provider, Memorial Hermann, has a 255-bed hospital within a quarter mile of Park Air 59. Also close by is Kindred Rehabilitation Hospital Northeast. Topping off the strong demographics are daily traffic counts of 180,000 on US 59 and 45,000 on Will Clayton Parkway, the southern boundary of Archway Properties' land.

"Floor & Décor's lease further substantiates Archway Properties' goal to create a mix of uses at this location, which now includes multiple retailers, industrial and medical users," Alvis says. "We look forward to expanding upon this success with the addition of a hotel, more medical, retail and restaurants."

SOUTH TEXAS LEASE

Floor & Décor has leased a 79,684-sf, single-tenant retail building to be built on a 5.5-acre tract in Park Air 59, located at the intersection of Interstate 69/US Hwy. 59 and Will Clayton Parkway, Humble, from Archway Burdom Land Holdings Ltd. Austin Alvis of NewQuest Properties and Preston Cunningham of Cunningham Ventures represented the landlord. Jeff Kittleson and Matt Keener of CBRE represented the tenant.

SOUTH TEXAS SALE

Lone Star Academics & Childcare has purchased 1.67 acres in the Shops at Sedona Lakes, located at the intersection of TX 288 and Bailey Avenue, Manvel, from NewQuest Properties. Austin Alvis and Ryan Kelsall of NewQuest Properties represented the seller in the direct deal.

CENTRAL TEXAS SALE

Rapid Express Car Wash has purchased 1.36 acres at 12 Stonewall Hill, San Antonio, from Zarco Commercial Development LLC. J.J. McDermott of NewQuest Properties represented the buyer in the direct deal.