(For more retail coverage, click GlobeSt.com/RETAIL.)
MISSOURI CITY, TX-Dahn Yoga Center, in its efforts to create a strong presence in the Greater Houston area, has signed a five-year lease for its 11th location. The deal, expected to be the chain's last one this year, opens doors to a 1,400-sf spot in Colony Lakes Shopping Center.
The 158,869-sf center, with a quoted rate of $24 per sf annually, is located at 6200 State Highway 6 South at its crossroads with University Boulevard. Matt Keener of Trammell Crow Co.'s Houston office represented the owner of the 96%-leased, Kroger-anchored center.
Jason Gaines, a Houston associate with Dallas-based Henry S. Miller Commercial, says the transaction marks Dahn Yoga's final deal of the year for the region. "They did eight deals this year in the Houston area," says Gaines, who is representing Dahn Yoga in its expansion activities.
Gaines says the Korean-based company will add at least four more locations by yearend 2006. The corporate goal for next year, though, is a maximum of six more sites. "There's a real demand for something like this in Houston and not much supply," he tells GlobeSt.com.
The best location for a Dahn Yoga Center, most often in 2,000-sf to 2,500-sf spaces, is a grocery-anchored neighborhood center. The reason is Dahn's target market primarily is stay-at-home moms and housewives, with "a little bit of going-home traffic for workers," Gaines says.
Because training tends to be one-on-one instruction, high parking ratios aren't critical to the site decision, according to Gaines. Though there are a handful of group classes offered, class numbers tend to be small.
"They'll go into urban strip centers if they know they can't find a grocery-anchored one, but they avoid the power retail centers and the regional ones," Gaines says. "They prefer to stay off the freeways."
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