Getting in on the ground floor, Lash Lounge and Super Cuts have preleased niche retail space in Washington Central, an under-construction urban neighborhood center in a redevelopment hotspot near downtown Houston.
Washington Central, now 50% preleased, will deliver in the first quarter. The 13,000-sf project at 4015 Washington Ave. is a single-story design with dual-storefront entrances in an established vertical neighborhood.
"It's rare to have a new single-story retail building in the Washington Corridor. The developers of Washington Central are more interested in providing an efficient, sustainable project for the neighborhood than maximizing their profit with a multi-level structure," says Ashley Strickland, vice president of Houston-based NewQuest Properties. She and Nick Ramsey, an associate, are marketing the urban center for the landlord of record, DZ Washington LLC.
Lash Lounge has preleased 1,216 sf and Super Cuts, 1,044 sf. Rachel Farris of NewQuest Properties represented Lash Lounge. Jack Burgher of Streetwise Retail Advisors was Super Cuts' tenant representative.
The first tenant to sign, Natural Pawz, got the project rolling with a 4,008-sf commitment for the 0.9-acre project, which is located within walking distance of a soon-to-deliver mixed-use development featuring an H-E-B urban grocery store prototype, totaling 96,000 sf, and 232 multifamily units.
"The Washington Corridor has growth areas with more opportunities than most other mature markets," Strickland says. "This is not a transitional neighborhood."
Washington Central is surrounded by three prominent subdivisions – Rice Military, Washington Heights and Buffalo Heights. Demographically, the densely occupied submarket boasts a well-educated population with a median age of 35.4 and high disposable incomes. The retail center is tucked into a walkable neighborhood with a growing number of mid- and high-rise apartments, townhomes and condominiums.
The Washington Avenue-fronting tract is bounded by Leverkuhn and Jackson Hill streets, just three blocks from Heights Boulevard. With two hard corners to work with, the developers have positioned the retail building on the northern side of their tract and parking spaces on the south side – a template for creating equally easy access for pedestrians and vehicles. Nathan Moore of NM21 Design Studio of Houston is the architect of record and Golden Crescent Construction Co. Inc., the locally based general contractor.
"A lot of time and energy has been spent on designing this project," Strickland says. "The developers, Jonathan Zadok and Dan D' Acquisto, are long-term holders who recognized the value in creating an efficient urban project in a premier neighborhood for tenants and residents."
Still available for lease is 4,481 sf of inline space and an end cap ranging from 2,200 sf to 3,800 sf of restaurant space. "We're holding out for a prime restaurant operator for the hard corner," Ramsey says. "Activity on the space is strong. We're focusing on prospects with multiple locations."
SOUTH TEXAS SALES
WEM Holdings LLC has purchased a 3,116-sf office on a 7,500-sf lot at 902 Heights Blvd., Houston, from Larry G. Trimble. Chris Dray of NewQuest Properties represented the buyer. Carlos J. Martinez of Berkshire Hathaway Homeservices Anderson Properties represented the seller.
Guillermo F. Investments LLC has purchased a 2,500-sf lot at 7025 Navigation Blvd., Houston, from BJG Holdings Ltd. Ori Batagower of NewQuest Properties represented the buyer. Betty A. Benton of UTR Texas Realtors represented the seller.
SOUTH TEXAS LEASES
The Lash Lounge and Super Cuts have pre-leased 1,216 sf and 1,044 sf, of retail space, respectively, in Washington Central, 4015 Washington Blvd., Houston, from DZ Washington LLC. Ashley Strickland and Nick Ramsey of NewQuest Properties represented the landlord. Rachel Farris of NewQuest Properties represented Lash Lounge. Jack Burgher of Streetwise Retail Advisors represented Super Cuts.
Bubble Egg has leased 1,700 sf in Metropark Square Shopping Center, Interstate 45, Shenandoah, TX, from NewQuest Properties. Rebecca Le and Grace La of NewQuest Properties represented the landlord in the direct deal.
Labrada Chiropractic has renewed 673 sf of office space in Woodway Center, 4801 Woodway Dr., Houston, from Interra-Sky 4801 Woodway LLC. Kelley Workman of NewQuest Properties represented the tenant. Brandon Levinson of Interra Properties represented the landlord.
CENTRAL TEXAS LEASES
Dollar Tree has leased 12,043 sf of retail space in Creekside Town Center, 161 Creekside Way, New Braunfels, from NewQuest Properties. Ashley Strickland and Nick Ramsey of NewQuest Properties represented the landlord. Thomas Tyng of REATA Real Estate represented the tenant.
Crumbl Cookies has leased 1,400 sf of retail space in Stone Hill Town Center, located at the intersection of TX 130 and TX 45, Pflugerville, from NewQuest Properties. Josh Friedlander and Kevin Sims of NewQuest Properties represented the landlord. Joey Mendez of Retail Solutions represented the tenant.
NewQuest Properties, founded in 2001, is a privately owned, full-service commercial real estate firm specializing in development, land brokerage, leasing, tenant representation, investment sales and property management services. Headquartered in Houston, NewQuest owns a portfolio encompassing more than 60 retail and mixed-use projects valued at $2.2 billion and provides leasing services for more than 12 million square feet of commercial space in Texas, Louisiana and throughout the U.S.
