Changes could be coming to an area shopping center that recently changed hands.
Houston-based Wu Family Trust purchased the Northbrook Shopping Center, previously owned by Weingarten Realty, for an undisclosed price. The sale of the 174,181 square foot, grocery-anchored retail center, located at 5264 W. 34th St., was announced by CBRE Group, Inc., a commercial real estate services and investment firm.
The shopping center is anchored by El Rancho Supermercado, a Hispanic grocery store that opened in 2017. It replaced a Randall’s store.
The retail center is 96.6 percent occupied with a 17.9-year average historical occupancy for anchor tenants, according to CBRE.
“Northbrook’s long-term stability, high retention ratio and below-market rents garnered a significant amount of interest,” said Mark Witcher, senior vice president of CBRE. “The location in the highly populated and underserved Northwest Houston submarket made this a fantastic opportunity for investors.”
Shandy’s Restaurant to occupy former Maryam’s Cafe
AG Antiques owner Debbie Greenbaum said her family, which owns the building where the antique store is located, is leasing the former spot of Maryam’s Café at 315 W. 19th St. to Shandy’s Restaurant, which already has a popular location on Memorial Drive.
Reviewers have called it the best-kept secret in Rice Military.
“They’ve been open for 14 years, and have quite a following,” Greenbaum said.
Shopping center planned for former 34th tire shop
In August, The Leader reported that Summit Path Investments LLC, led by John DeMeritt, had purchased El Mante Tires Shop #1 at 1702 W. 34th St. Now DeMeritt says a small shopping center is planned for the space.
“We’re keeping the existing building,” DeMeritt said, noting that major renovations are underway. “The skin is off.”
The 4,500 square feet will house two to three service-type tenants and be ready to lease by next spring. DeMeritt said the upcoming center has more than what the City of Houston requires for parking.
“We’re trying to be a good steward,” DeMeritt said. “Hopefully the community will like what we do.”
Citizen Pilates joins Valencia’s Tex-Mex Garage at Braun Development on 34th
News broke this week that Valencia’s Tex-Mex Garage will open an eatery at 2001 W. 34th St.
Zach Wolf of Braun Enterprises said group fitness studio Citizen Pilates is also a signed tenant.
Citizen Pilates owner Jess Hughes said she’s excited to open her third location on 34th Street. Hughes opened her first location in 2015 in Woodland Heights at 3217 Houston Ave. and her second location in 2018 at 940 Heights Blvd.
“We have several clients who travel from the GOOF area to take our classes and it just made sense to give those clients an opportunity to work out in their neighborhood,” Hughes said. “I grew up in Garden Oaks on Gardenia Street and went to Garden Oaks Elementary. I have always loved the neighborhood and have really enjoyed seeing it grow. I moved back to Garden Oaks about a year ago and am really enjoying getting back to my roots.”
Have something for real estate roundup? Email email@example.com.