Floor & Décor Coming To 111-Acre Mixed-Use Development In Northeast Houston
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Floor & Décor wants to amplify its presence in the northeast corridor of Houston.
The Atlanta-based big-box retailer inked an 80K SF lease for a single-tenant building at Park Air 59, a 111-acre mixed-use development in Humble. The property will be built on a 5.5-acre tract with Highway 59 frontage.
Construction is slated to begin in January. Floor & Décor currently has six Houston locations and 15 statewide.
Park Air 59 is a master-planned mixed-use hub that, when completed, will feature retail, restaurant, medical and Class-A industrial and service-related tenants. With the addition of Floor & Décor, available land at Park Air 59 is nearly gone.
"Development of Park Air 59 has really exploded in 2018. Of the original 111 acres, there are less than 21 remaining," NewQuest Properties Austin Alvis said. "All that remains are pad sites fronting 59 and Will Clayton Parkway. We expect those to be committed by the end of 2019."
About 1.2M SF has been committed, built or is under construction at Highway 59 and Will Clayton Parkway, which is adjacent the constructed Rooms to Go.
The park offers convenient access to major thoroughfares such as FM 1960, Highway 59 and Will Clayton Parkway and the Bush Intercontinental Airport, and boasts a three-quarter mile stretch of unobstructed freeway frontage. It is also located within a growing area with more than 8,500 single-family homes and 155,000 residents within a 5-mile trade area.
Other developments in the works at Park Air 59 include a 65K SF medical office building for Vital Heart and Veins, 320K SF industrial space for the Dallas-based real estate development company Jackson-Shaw and a 685K SF Class-A cross dock spec project by 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," Houston-based Archway Properties Development Manager Ben Allen said. "It's all come together in the past year."
CBRE's Jeff Kittleson and Matt Keener represented the tenant.