HOUSTON—Strong single-family home sales and population growth have resulted in high levels of activity in Houston's retail market and attracted many new-to-market retailers, particularly in the experiential and entertainment sectors. According to JLL research, the city's retail market maintained its strength through the first quarter of 2017, recording 628,160 square feet of positive net absorption.
One of those experiential retailers is SPENGA. The Chicago-based boutique fitness concept has signed its first lease in Houston for 4,011 square feet at 307 Westheimer Rd., a retail development expected to deliver later this year.
The fitness studio has retained JLL to facilitate the rollout of multiple studio locations in Houston. JLL's Matt Parsons is representing SPENGA in its Houston expansion. Chris Dray of NewQuest Properties represented the landlord, Lower Westheimer Center LP, in this transaction.
“Houston's robust retail market combined with the city's diversity and continued growth make it an extremely attractive place for out-of-town concepts to expand,” Parsons tells GlobeSt.com. “Boutique fitness concepts like SPENGA cater directly to Houston's young, growing and active population.”
SPENGA, short for spin-strength-yoga, combines cardio, strength and flexibility in 60-minute, high-intensity interval training sessions that feature music and aromatherapy. The company has approximately 40 locations across Illinois, Ohio, North Carolina and Colorado.
“SPENGA's unique approach to group fitness classes makes them a great addition to the Houston market,” said Parsons. “This particular location puts them at the center of the active, urban neighborhoods of Midtown and Montrose.”
The completed development will offer two stories of retail along one of the most prominent Inner Loop corridors. With more than 181,000 people within a 3-mile radius and approximately 20,000 cars passing by each day, the center and its tenants will benefit from a large consumer base and high visibility.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
