Feb 04

Baker Katz sells retail development near Baybrook Mall

By Katherine Feser |

Dallas-based Crow Holdings purchased a retail development housing several popular restaurant chains in southeast Houston near Baybrook Mall from Baker Katz. The development totals 15,600 square feet in two buildings.

Houston-based Baker Katz, which broke ground on the former site of Zio’s Italian Restaurant at the end of 2017, completed construction of the development at 820 W. Bay Area Blvd. in the first quarter of 2018. The project is fully leased to Snooze A.M. Eatery, Mod Pizza, Hopdoddy Burger Bar, Main Squeeze Juice, Xfinity and PNC Bank. All of the tenants are open except, PNC Bank which is slated to open in the spring.

Terms of the deal, which closed Jan. 24, were not disclosed. The property is valued at $3.3 million on the Harris County tax rolls.

“By developing in such a desirable area, and going above and beyond in terms of architecture and design to appeal specifically to restaurant tenants, we experienced a high level of interest in this project from the get-go,” Baker Katz Development Partner Neal Wade said in an announcement “Once we built a roster of high quality, national tenants that fully occupied the available spaces, we were primed for a sale to the right partner. Crow Holdings expressed interest and we were able to work quickly to make a deal that made sense for all parties involved.”

Ryan West of JLL represented the Baker Katz in the sale.

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