KM Realty expands its retail portfolio
Houston-based KM Realty Investment Trust acquired two shopping centers, bringing its portfolio to 33. The company purchased Gosling Road Plaza, a 15,087-square-foot center at 5250 FM 2920 in Spring, from Lone Star Partners; and Kuykendahl Center, a 4,550-square-foot center at 25417 Kuykendahl Road in Tomball, from MDGV14 LP. Tenants at the 90-percent leased Gosling Road Plaza include TDECU Credit Union, Vital Dental and Gallery Tile, while the tenants at Kuykendahl Center are Shipley Do-Nuts, Marco’s Pizza and Balanced Foods. The deals were structured as UPREIT transactions under which the sellers received equity in KM Realty Investment Trust in the form of operating partnership units.
“KM Realty is focused on growing its portfolio primarily through UPREIT transactions,” founder Randy Keith said in an announcement. “We believe there are strong growth opportunities in the highly fragmented market of unanchored retail/ service centers.”
Little Beakers Science Lab for Kids leased 6,000 square feet at Marq*E Entertainment Center, 7620 Katy Freeway. Marcus Banasik and Sherry Naquin Sanchez of Resolut RE represented the tenant. Sasha Levine and Nina Kuhn of Levcor represented the landlord.
James Avery Artisan Jewelry plans to open at 560 Gulfgate Center on Aug. 26. It will be one of 18 stores in the Houston area.
Berkshire Hathaway HomeServices Premier Properties will relocate its Kingwood branch to Kings Harbor this fall, the project’s developer Midway Companies announced. The real estate brokerage joins Capital Title, BRW Architects, Edward Jones and Joseph Chris Partners in the mixed-use development along Lake Houston at 1660 W. Lake Houston Parkway.
Foot Locker Retail leased 3,000 square feet for a pop-up shop at 6057 Scott St. Brian Ashby and Sydney Dixon with CBRE represented the tenant. The landlord is Scott Capital Investment.
The team behind Monkey’s Tail, a restaurant and bar in Lindale Park, leased the former Petrol Station pub at 985 Wakefield Drive in the Garden Oaks neighborhood. Chris Ochterbeck of Moody Rambin represented the landlord.
Fitness Unlimited, a retailer of home fitness equipment, renewed a 5,029-square-foot lease at Willowbrook Shopping Center, 17535 Tomball Parkway. Zach Leger and Jason Gaines of NAI Partners represented the landlord.
Eye Boutique leased 1,634 square feet in Washington Central, 4015 Washington Ave. Nick Ramsey and Ashley Strickland of NewQuest Properties represented the landlord, DZ Washington. Mike Ashmore of Engel & Volkers represented the tenant.
Salata opened a 2,804-squarefoot location in Bellaire Town Center, 5101 Bellaire Blvd. Wade Green IV represented the tenant. Edge Realty Partners represented the landlord, SDI Realty Advisors.
Vogue Rugs leased 4,497 square feet in Pinecroft Shopping Center, at the northwest corner of Lake Woodlands Drive and Six Pines Drive in The Woodlands.
Bunny McLeod and Katherine Wildman of Wulfe & Co. negotiated the lease.
Tropical Smoothie Café leased 1,610 square feet with a drive-thru at 23053 Clay Road, Katy. Inna Radford of Rubicon Realty represented the landlord. Lane Zieben of Retail Connection represented the tenant.
Summer Moon Coffee leased 1,800 square feet with a drivethru at 9402 Texas 6, Missouri City. Tan Le of Rubicon Realty represented the landlord.
BodyLift Houston leased 1,547 square feet at The Shops at Three Corners, a center at Old Spanish Trail, Kirby Drive and Main Street. Christi Davis represented the landlord, Weingarten Realty.
Best Bed Select leased 2,400 square feet at Richmond Square, 5129 Richmond Ave. Conrad Chambers of Resolut RE represented the tenant. Christi Davis represented the landlord, Weingarten Realty.
ARCpoint Labs leased 1,540 square feet at 2520 Research Forest Drive in Spring. Laura Diggs of NAI Partners represented the tenant.
Telfair Holdings purchased the 9,200-square-foot Suds Car Wash and Lube at 4203 W. Davis St. in Conroe. David Alexander of Newcor Commercial Real Estate, represented the seller, GC3 Services/Suds Car Wash and Lube.