Salon Suites Concept Expands With 5 Locations In Houston
Phenix Salon Suites is ready for expansion in the Houston area, having signed leases for five new salons.
"Landlords are quickly realizing that salon suites are great traffic drivers to their centers, often drawing 4,000 to 5,000 female shoppers into the shopping center every single month,” CBRE Senior Associate Sydney Dixon said. She and Brian Ashby represented the tenant.
The new locations are:
- A 7,267 SF long-term lease for the entire second floor at 2101 Smith St.
- A 7K SF lease at Westheimer Towne Center at 8555 Westheimer Road.
- A 6,600 SF lease at Price Plaza at 20290 Katy Freeway.
- A 6,500 SF lease at the redeveloped Bellaire Towne Center.
- A 6,713 SF lease at 2401 North Shepherd Drive, a new development in the Heights across from the new H-E-B grocery store.
The California-based franchise now has 283 locations in 34 states and more than 300 locations planned in the next couple of years.
“The salon suites space has become highly competitive in the Houston market and Phenix is unique because they bring a superior level of luxury to each location," Ashby said. "With Class-A retail at 98% occupancy, our team had to pinpoint ideal settings across the city that match this high-end concept. Furthermore, Phenix is focused on growth and plans to continue expanding in Houston."
Overall retail occupancy remains robust at 94.9% across all classes, according to CBRE research. Job and population growth are credited for the strong retail market. The Houston MSA added more than 109,806 new jobs in 2018, a 3.5% gain year over year, which is one of the best years for local job growth.