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Retail Wrap: New Plans for a Clear Lake Redevelopment

Randalls grocery store exterior and entryway at midday in Clear Lake, TX.

Partners Capital, the investment arm of Partners Real Estate Co., acquired a shopping center with a vacant Randalls grocery store in the Clear Lake area and is formulating plans for a redevelopment.

The 98,522-square-foot Bay Pointe Shopping Center at 2323 Clear Lake City Blvd. is 100 percent leased. The Randalls, which closed in early 2020, still has a lease that expires in March 2024.

The 68,150-square-foot store space will likely be divided to make room for potential tenants including coffee shops, restaurants, a grocery store, school or neighborhood office space, according to Partners Capital.

“We’re out in the market now talking to anyone and everyone that we feel like is a good fit,” said Adam Hawkins, senior vice president at Partners Capital.

“We’ll be in communication with the community,” Hawkins said. “We’re not going to put something in there that we don’t think will improve the communal experience.”

Matt Berry, Robbie Kilcrease and Drew Reinking at CBRE represented the seller, Pennington-Chen. Peyton Jones at Veritex Bank provided financing. The investment was made through Partners Capital’s Fund IV.

Jersey Mike’s Subs opened a shop at 5675 Fairmont Parkway in Pasadena. The location is operated by franchise owners Willie and Bebe Mora.

PrimoHoagies, a Philadelphia hoagie chain based in Westville, N.J., announced franchise agreements to open eight locations in Texas, including Houston, as part of a national expansion. Locations have not been announced.

First Prep Academy leased 4,325 square feet at Brenwood Plaza, 18859 W. Little York. Rick Gutierrez of Resolut RE represented the landlord. Kimberly Williams of Re/Max Allstars represented the tenant.

Sally’s Beauty Supply leased 1,502 square feet in Southmore Village, at Southmore Avenue and Shaver Street in Pasadena, from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Haley Golden of Evergreen Realty represented the tenant.

Marco’s Pizza leased 1,502 square feet in Carpenter’s Landing, at Wallisville Road and Carpenters Landing Way in Houston, from NewQuest Properties. Nick Ramsey and Kevin Sims of NewQuest Properties represented the landlord. Karol Snyder of Moseley Commercial Real Estate represented the tenant.

Willie’s Grill & Icehouse opens at 2600 Smith Ranch Road in Pearland Monday. The restaurant is the Texas chain’s 19th location.

Mathnasium Learning Center renewed at Market at Bees Creek, 4225 Sienna Parkway, Missouri City. Rick Gutierrez of Resolut RE represented the landlord.

The Lash Supply leased 1,300 square feet at FM 1960 & Eldridge Center, at 12620 FM 1960. Joaquin Orozco of Resolut RE represented the landlord.

By Katherine Feser – Staff writer, Houston Chronical

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