New Plans Revealed For Former Toys R Us Building Near Memorial City

One former Toys R Us site, victim to the shuttering of hundreds of stores nationwide in June, is in the midst of redevelopment talks in West Houston.

Houston-based Moody National Cos. is reportedly transforming the site into a mixed-use mid-rise development off Interstate 10 and Bunker Hill just east of Memorial City, the Houston Chronicle reported.

The rendering for 9655 Katy Freeway illustrates a six-story, office-anchored development that will deliver in fall 2019. The 275K SF project will feature ground-level retail and dining and a multilevel parking garage. The minimum divisible space will be 6K SF and the triple net rent is $35/SF.

Moody National owns other property near the site including two adjacent parcels totaling about 5.2 acres and the 164-unit Le Renaissance Apartments, which it purchased in 2016.

At the time of the apartment acquisition, Le Renaissance garnered considerable attention due to its location near Memorial High School, Memorial City Mall and nearby Class-A office building product. Moody National revealed plans then to turn the property into a mixed-use project. That hasn’t come to fruition yet.

In all, Moody National owns about 9.7 contiguous acres bounded by the Interstate 10 frontage road, Bunker Hill Road and Gaylord Road, the Houston Business Journal noted. The redevelopment plans for the additional parcels have not been released and were not outlined on the 9655 Katy Freeway rendering.

After filing bankruptcy in 2017, Toys R Us closed its last U.S. store this June. In March, there were 18 Houston-area locations totaling about 673K SF, the Houston Business Journal reported. Throughout the nation, and in Houston, developers and investors are reinventing or backfilling the spaces of former big-box retailers.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Houston Newsletters
Related Stories

Cross Ocean Partners, Fuller Realty Acquire 829K SF Houston Office Campus

Trammell Crow Starts Phase Of 2M SF Industrial Park: The Houston Deal Sheet

Oncology Company Expands Footprint At Hines' Life Sciences Campus

Astrodome Conservancy Solicits Redevelopment Ideas

Food And Beverage Increasingly Becoming Anchor In Mixed-Use Projects

Sugar Land Town Square Secures Fortune 500 Lease: The Houston Deal Sheet

Houston CRE Firms Turn To Contractors As They Look To Scale

The Revitalization Of Sugar Creek On The Lake, A Premier Waterfront Property In Greater Houston

City Block Sold For New Houston Center Parking Garage

Beacon Partners Sells Charlotte Mixed-Use Development For $92M

Texas Pauses Data Center Power Connections, Which Could Speed Up Rapid Development

Houston's Generation Park Lands Another $2.3B Pharma Manufacturing Investment