Ironbridge Realty Partners today announced that the firm has commenced redevelopment of an existing former grocery store site at the intersection of Highway 59 and FM 1485 in New Caney. The project will be anchored by Planet Fitness and La Michoacána who are expected to open in mid-2020. Both tenant continue their aggressive expansion plans in Houston and have pinpointed the growing northeast sector of Houston for future growth. The site housed the former Brookshire Brothers for the last 35 years. The redevelopment will include extensive redo of the building exterior and parking lot as well as bringing the building up to current code standards.
“With the completion of the Grand Parkway and overall improved mobility in the area, Northeast Houston has become ground zero for a combination of new housing growth and the entrance of new retailers to the trade area. We couldn’t be more excited to have two seasoned and sought-after operators in our project and look forward to filling in some of the other small tenant space around these outstanding businesses.” said Ralph Tullier, Managing Partner at Ironbridge Realty Partners.
New Caney Shopping Center has served as a traditional neighborhood grocery store with a combination of small tenant and ground lease pad sites. Planet Fitness and La Michoacána will join other existing tenants including Taco Bell and several local services providers including medical, dental and pet grooming.
“Repositioning shopping centers requires a deep understanding of the changing demographics in a specific trade area. The demographics in the New Caney region have shifted over time and as such there are many consumers that were not being served by the existing retail. The tenant lineup changes that we are instituting in New Caney Shopping Center are addressing this issue,” said Mark Sondock, Managing Partner of Ironbridge Realty Partners.
About Ironbridge Realty Partners Ironbridge Realty Partners is one of Houston’s most active full-service real estate services and development firms. Ironbridge’s founders have an extensive background focused in the Houston MSA market representing national retailers, project leasing on behalf of institutional and local ownership groups, property management and principal transactions. Ironbridge Realty Partners is a trusted partner that executes effective real estate strategies tailored to their clients’ needs. The cornerstone to their success is serving as an extension of our clients’ business model including operating with an owner’s mentality, in-depth market knowledge, and attention to detail.Visit www.ironbridgerealty.com.
