Don't pay full price for a Houston retail space build-out

At 2066 Crist Drive, in Los Altos, California, a nondescript ranch home still stands in a suburban neighborhood not unlike many others across the country. For technology enthusiasts, though, the home is their mecca - it is where Steve Jobs and Steve Wozniak toiled for countless hours, eventually pioneering the first Apple computer.

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As Houston retailers consider space lease options, some communities improving pedestrian access

When choosing a Houston retail space for lease, a company first needs to answer one question about itself - is it a destination location or will it require a high volume of foot traffic (and random walk-ins) to succeed? According to Yahoo contributor S.H. Wallick, the answer to this question will determine whether a business needs to position itself in a high visibility area.

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TheSquareFoot Agent Lance Gillam in GlobeSt

One of our Houston retail brokers, Lance Gillam of UCR moodyrambin PAGE, was quoted in GlobeSt yesterday talking about current trends in Houston retail space leasing.  It is interesting to see the dichotomy between class A retail space--where there can often be a waiting list--and class B and C space where vacancies abound.

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Houston Retail Space of The Week - Sushi Pop

Recently we took a break from our efforts of bringing efficiency and transparency to Houston small businesses and entrepreneurs who were looking for space for their business. We ate at Sushi Pop located across from Memorial City Mall on I-10 and Bunker Hill because we had heard good things, and knew it was owned by the same group as Azuma and Uptown sushi. The sushi was delicious but we were surprised by the fantastic build-out and retail space. The inside was meticulously decorated and felt open and inviting. It is usually difficult to find a reasonably priced sushi retail establishments in Houston, which has awesome food and also great restaurant space, but Sushi Pop has our seal of approval!

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Trader Joes Moves Into Historic Houston Landmark | TheSquareFoot Blog

There have been several reports recently that popular neighborhood grocery store Trader Joe's will be making its way to Houston soon, which made many locals who have visited a location in another market quite giddy.  The outfit was started on the West Coast in the 1960's, and has built up a popular cult following ever since.  Known for having "innovative" and hard to find foods that just so happen to also taste great, Trader Joe's was also known to be somewhat of a pioneer in its marketing efforts - putting out a newsletter in the 70's mainly about the wines and foods that were sold at the store, as well as having a line of private label products.

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From Books to Super Hero Briefs? H M Could Be Moving Into The Galleria Borders Location

We've now heard rumors from several sources saying that the Galleria Houston retail space for lease currently occupied by Borders, could be the new location of hot clothing retailer H & M.  The news coming out last month that all Borders locations will close nationwide, left questions as to what kind of large big name retail tenant could fill the sizable void in the Galleria left by such a large brand.  We may have an answer, although it seems a little early to be sure.

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Houston Retail Space - So Long Borders

The news broke a few days ago that the Borders Bookstore chain has filed for bankruptcy and will likely see close to 400 stores close down nationwide.  Houston will most likely lose it's remaining five Houston Borders locations, which will add to the large amounts of vacant Houston retail space the city has been carrying for years.  Not long ago we saw another big box retailer, Circuit City, share a similar fate and some of those vacancies have yet to be filled nationwide.

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Commercial Leasing Definitions - Anchor Tenant

Anchor Tenant typically refers to a large store in a retail shopping center (usually a department store or major retail outfit like HEB or Walmart) which the landlord has strategically rented space to in order to draw in large crowds and funnel them into other stores within the center.  Name recognition and prestige of these large users are the appealing factors that will drive in other tenants and shoppers.  Because of the value that an anchor tenant can provide the landlord as far as appeal to other smaller tenants and heavy traffic draw, discounted rental rates can often be given to these large users.  It's not uncommon for an anchor tenant to reserve the right to approve the selection of a center's other tenants in order to prevent competing (and much smaller) tenants from taking away customers.  That's how much value a well-respected anchor tenant, like an Apple store can bring!

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Houston Retail Space Gets Shoutout in WSJ!

The recession’s hit to Houston retail space has been well documented.  In this recent article in the Wall Street Journal, several stats from a survey by Colliers International covering the closures of four prominent big-box retailers over the last couple of years are particularly sobering.  Just over half of the surveyed properties are still vacant and the rest of them were re-leased for rents that averages almost 20% less than what the previous tenants were paying.   As the article points out, the recent bankruptcies of Blockbuster and Borders will only add to the problems.  One positive note is that none of the seven borders locations in Houston were on the initial chopping block so it appears that Houston retail space is holding up better than other national markets.

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Commercial Property Types: Houston Retail Space For Lease

Businesses seeking to lease Houston retail space will often have to consider several factors before determining the best type of retail space for lease to fit their needs.  Some retail businesses rely on "impulse purchases" while others rely on carefully planned purchases.  Impulse retail will focus heavily on location and visibility, and will usually require a premium location within a shopping center, meaning higher rents.  Businesses that aren't reliant on impulse purchases don't typically need to be in an incredible location with optimal visibility, although that's always important for any type of business.  Access and visibility are much less important for "destination" retail, but again, will always help.  Here are the different types of  retail space for lease, with descriptions:

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