Construction will ramp up in the coming weeks on a prized restaurant site that’s now ground-leased to P. Terry’s Burger Stand in NewQuest’s Grand at Aliana in Fort Bend County.
The popular Austin-based burger chain is slated to open in the summer in NewQuest’s power center, where two phases are fully leased and preleasing’s underway on the third and final stage of development. At buildout, the freeway-fronting project will contain 665,000 sf of class A space filled with top-ranked and expanding national, regional and local brands at the junction of West Grand Parkway/TX 99 and West Airport Boulevard in Richmond.
“That’s the last site fronting the freeway’s feeder road in Phase I and II. P. Terry’s should do really well at this location,” says Josh Friedlander, leasing director and senior vice president for Houston-based NewQuest.
The burger chain is landing on a high-profile pad site, which was locked up for a few years by other restaurateurs who failed to follow through on expansion plans in the Aliana market. P. Terry’s was one of several top names jockeying for the spot in NewQuest’s development.
“P. Terry’s is very popular in Austin. It’s a cool, trendy concept that’s aggressively expanding in the Houston market,” Friedlander says.
The Grand at Aliana will be P. Terry’s third location in Greater Houston and a brand-new tenant for NewQuest’s portfolio. The burger chain is developing a 1,250-sf restaurant with two drive-through lanes, which was designed by Michael Hsu of the Office of Architecture in Austin.
“P. Terry’s will be a great complement to the existing mix in the Grand at Aliana,” Friedlander says.
The restaurateur’s general contractor is Engen Contracting Inc. of Austin. Eric Walker and Jacob Weering of Capital Retail Properties represented P. Terry’s in the ground lease negotiations.
As construction gets underway on the pad site, Friedlander and his leasing partner, David Meyers, are negotiating with national brands in the sporting goods and furniture categories for the last two anchor spaces in the Grand at Aliana. To date, NewQuest has developed nearly 450,000 sf of retail, restaurant and medical office space at the Grand Parkway junction, where demand is outpacing availability in what is widely considered to be the largest and fastest-growing retail corridor in Texas.
“I get inquiries every day about space in the Grand at Aliana,” Friedlander says. “As a result, we are trying to fit in one more multi-tenant building to add more restaurants to the project.”
SOUTH TEXAS LEASES
Terry’s Burger Stand has ground-leased a one-acre retail pad site in the Grand at Aliana, located at the intersection of West Grand Parkway/TX 99 and West Airport Boulevard, Richmond, from NewQuest. Josh Friedlander and David Meyers of NewQuest represented the landlord. Eric Walker and Jacob Weering of Capital Retail Properties represented the tenant.
Beans & Brews has leased 1,575 sf of retail space in Shops at Katy Pointe, 24020 Clay Rd., Katy, from Katy Point Investments LLC. Nick Ramsey and Kevin Sims of NewQuest represented the landlord. Russell Janicek of Rally CRE represented the tenant.
Jackson Hewitt Tax Service has leased 1,400 sf of retail space in Willis Town Center, located at the intersection of Interstate 45 and FM 1097, Willis, from NewQuest. Lara Lee LaMendola of NewQuest represented the landlord. Adriana Shaw and Timothy Stewart of Colliers International represented the tenant.
NewQuest, founded in 2001, is a privately owned, full-service commercial real estate firm specializing in development, land brokerage, leasing, tenant representation, investment sales and property management services. Headquartered in Houston, NewQuest owns a portfolio encompassing more than 100 retail and mixed-use projects exceeding $2.3 billion in value and provides leasing services for more than 12 million square feet of commercial space in Texas, Louisiana, Arizona, Georgia and throughout the U.S.
