Retail Center to Draw From Woodlands Area

The groundbreaking recently took place at the open-air center site.

SPRING, TX— Grand Parkway Marketplace , a 450,000-square-foot open-air shopping center development anchored by Target Corporation , is now underway. Once completed, Grand Parkway Marketplace will be a signature property in a core major metro market for Kimco Realty Corporation , the developer on the project. Rob Nadler , president of Kimco’s central region tells GlobeSt.com: “We were attracted to this property due to the explosive growth that was going on in the north side of Houston at the time. We felt that the population was underserved and many of the national retailers operating in Greater Houston were not penetrating this exceptional demographic. The existing retail nodes were all six to seven miles away in each direction.” The property is located at the interchange of Grand Parkway and Kuykendahl Road, a rapidly growing area near the Exxon Corporate Campus that features direct exposure to the new segment of the Grand Parkway, which extends from Interstate 290 to Interstate 45, and opened in early February of 2016. The center is expected to draw from the highly desirable Woodlands area, and boasts excellent demographics with a population of 168,000 people and an average household income exceeding $100,000 within a 5-mile radius. The project has generated strong retailer demand with approximately 75% pre-leased, based on leases in progress and signed letters of intent, including eight leases with national, best-in-class junior anchors. Kimco anticipates an opening scheduled for spring 2017. “Grand Parkway Marketplace is an illustration of Kimco’s strategy to selectively develop state of the art projects in highly desirable trade areas. The shopping center will bring an exciting mix of national, regional and local retailers, restaurants and services to both the local community and the northern Houston area at large. The architecture, landscaping and amenities package will be exceptional and transform this intersection,” commented Nadler.