Mar 23

Need For Restaurants Spurs Mall-Area Development Globe St.

Citing the need for added restaurant options, in addition to boasting a steady and consistent neighborhood activity pace for three decades, a site has been deemed a viable match for development. And, no 80-year-old trees will be harmed, rather visibly preserved, in the process.

Adjacent to the Baybrook Mall, the 2-acre site is located at 820 West Bay Area Blvd. Houston-based Baker Katz plans to break ground by the end of 2017 on two buildings, totaling approximately 15,000 square feet, which will appeal to the desire of restaurant tenants for large outdoor patio seating, prominence and visibility to Bay Area Boulevard. The buildings are slated for completion in the first quarter of 2018.

“Our decision to purchase this property was largely based on limited supply of quality retail product that could accommodate the desires for best-in-class restaurant operators,” said Baker Katz development partner Neal Wade. “We plan to attract these restaurants by offering a more unique setting featuring more prominent glass throughout the buildings, large wrap-around patios and most importantly, site planning around a large oak tree that has called the site home for over 80 years.”

Plans for each building include a 20-foot wide patio of the front, with 25 feet between the two buildings, allowing for the patio to wrap around for additional outdoor seating.

“The Clear Lake area emerged in the Houston market when it became the home of a major NASA campus, and it has been a solid market ever since, despite some budget and staff cuts NASA has endured,” Jason Baker, Baker Katz principal, tells GlobeSt.com. “Residential values and the office market remain stable, and retail performs particularly well in this trade area. While this neighborhood isn’t currently experiencing the explosive growth of others within Houston, it is and has been steady and consistent for the last 30 years, and we don’t anticipate that changing anytime soon.”

David Wise and Joe Silver of Streetwise represented Baker Katz in the transaction and Colin Fox, with Colin Fox & Associates, represented the seller. Baker Katz is an X Team International partner and full-service commercial real estate brokerage firm specializing in retail tenant representation, investment sales, and project development and leasing.

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