New retail center planned near Woodlands
The Woodlands-based developer The Marcel Group is betting on south Montgomery County’s continued growth with plans for a retail center off FM 1488 west of Interstate 45.
The 55,000-square-foot Marcel Commons of The Woodlands is planned with dining, retail and medical options. The property was purchased in the first quarter of 2015, and crews broke ground in July and laid the foundation of the retail center in late August. The retail center is expected to open in December. The Verret Group LLC is the contracted architecture firm.
Marcel Commons is already about 80 percent leased, and the developer expects to be almost completely leased by the end of September. The minimum lease term is five years. Some tenants include Three Olives Italian Eatery, Southern Made Donuts, Signature Smiles and The Oilerie, which was featured on the TV series “Shark Tank.”
“Traffic off 1488 is through the roof; it’s basically like being on a freeway. There are all kinds of developments going on here,” said Vernon Veldekens, CEO of The Marcel Group. “We’re going to be, what I call, the beginning of all of that development. There’s no other place east of us that has the land that can put competition or anything like what we’re building.”
For proprietor Greg Zachary, owner of the first Texas franchise of The Oilerie, choosing the Marcel Commons as his store’s debut location was simple. Although his bulk Italian oil and aged balsamic vinegar shop is a new concept in Texas, a health conscious population and proximity to high-income neighborhoods was enough to convince him to open a store front in the Marcel Commons.
“The intense development happening as we speak in the remainder of the FM 1488 corridor … that’s a lot of what we’re looking for,” Zachary said. “The Woodlands is a diverse melting pot, I think even more so than Houston. It’s blending in really well, and I think we’ve found the right spot.”
Even with a softened oil market, Veldekens isn’t too worried. Commercial and residential developments are still rising, and the growing population is a positive indicator for retail development. Most of all, there isn’t another retail development along the busy FM 1488 thoroughfare, and less competition along the major freeway could means more traffic and exposure for his business.
“Retail is the hottest it’s ever been, and even with the softening of the oil it’s not affected us. I know earlier in the year, it was like Armageddon. People were scared,” Veldekens said. “But it wasn’t affecting us locally. …Quite frankly, I think it’s going to last another three or four years, so I’m prepared to invest in the market.”
Marcel Commons of The Woodlands isn’t technically in The Woodlands, but it, is close to some developments that are, including Mitchell Intermediate and the Alden Bridge residential community. For area residents living in “the back” of The Woodlands, the retail center could fill a retail and restaurant void in the more dense residential developments.
But The Woodlands isn’t the only market the Marcel Commons hopes to tap into. Residents from Magnolia and new multiand single-family developments north of The Woodlands — former Camp Strake, Stillwater, Del Webb, and other communities — are only few miles away from the retail center.
“We’ll be the first center folks will hit when they’re driving west and going home. There’s a need for restaurants, there’s a need for medical, and there’s a need for neighborhood retail, and that’s what we’re providing,” Veldekens said.