HOUSTON – (Realty News Report) –Shogun Japanese Grill and Sushi Bar restaurateur Qinnong “Bill” Hou has peppered the Houston area with 23 dining locations.
Now, in addition to wearing his chef’s hat, he’s added shopping center development to his entrepreneurial menu.
“Bill has become a developer in his own right,” said Bob Conwell, senior vice president of Houston-based NewQuest Properties and Hou’s broker for the past 15 years.
“Harmony Commons Plaza is his second development,” he added. And it contains the 23rdGreater Houston area location of Hou’s eatery that features traditional Japanese cuisine of sushi, hibachi, barbecue and ramen.”
The 6,024 SF Shogun Japanese Grill and Sushi Bar — Gyusho restaurant – scheduled to open in mid-September – will anchor the retail center situated in Spring, Texas, within The Woodlands submarket.
Hou’s new project at 3532 Harmony Commons Drive fronts the Grand Parkway and is part of a rapidly expanding commercial corridor just south of The Woodlands. The three-mile trade area boasts a population of 76,350 with an average annual household income of some $110,000.
Harmony Commons Plaza is shadow-anchored by an LA Fitness Signature Club and Spring Creek Market H-E-B grocery. A Sherwin Williams store has leased a 4,000 SF end cap in the 11,207 SF shopping center. Conwell said he and NewQuest vice president, Austen Baldridge, have several prospects eyeing the remaining 1,183 SF in Hou’s retail complex.
“It’s great real estate in what has become a suburb of The Woodlands,” said Conwell, adding that he sold the 1.2-acre site to Hou in 2017.
Hou, who holds a master’s degree in finance, said he’s planning to put Harmony Commons Plaza on the market after it’s fully leased. “He’ll be able to sell this project at a really great cap rate, given its quality construction, creditworthy tenants and location,” noted Conwell. He and Baldridge will list the property when it’s time.
Sherwin Williams just leased 4,000 SF for a paint store in the center. Tami Pearson of Waterman Steele served as the tenant representative. Conwell and Baldridge represented the landlord of record, B&B North American Investments LLC.
Sept. 1, 2020 Realty News Report Copyright 2020
File: Shogun Japanese Grill and Sushi Bar