ROSENBERG, Texas – (Realty News Report) – The Richmond-Rosenberg market in Fort Bend County is emerging as a key growth area in Houston’s southwestern suburbs.
Southwest Houston has been a hotbed of development activity for many years. As Sugar Land reaches a saturation point, residential development is spiking even farther to the Southwest in the Rosenberg-Richmond market where both cities have scored major economic development wins in the past year. Soon to open in Rosenberg is Dollar Tree’s 1 million-SF distribution center. Less than four miles away in Richmond, Trammell Crow Co. will build an 850,000-SF e-commerce fulfillment center for Amazon.
This all spells good news for Houston-based NewQuest Properties, the Houston-based developer of Brazos Town Center, one of the largest retail projects of its kind in Texas.
Located along Interstate 69 in Rosenberg, the Brazos Town Center is now 98 percent leased.
Located south of the Brazos River, the Brazos Town Center is a 550-acre master-planned development located eight miles south of Sugar Land and 25 miles southwest of Houston. NewQuest broke ground 14 years ago on the two-phase project.
“Brazos Town Center has by far exceeded our expectations,” says Bob Conwell, senior vice president of NewQuest. “It’s a top-performing location in Texas for many of our tenants.”
Brazos Town Center is home to one of the largest Kroger stores in Texas. As a testament to the NewQuest development, the 123,000-SF grocery consistently is in the top 5 percent of the company’s 209 locations in the Lone Star State.
Because of the lay of the land, Brazos Town Center’s trade area, encompassing 272,000 people, extends nearly 40 miles to the west, roughly 25 miles to the south and at least 15 miles north. A number of residential communities are nearby, including Del Webb’s Sweetgrass community for over-55 adults and a number master planned communities accessible by the Grand Parkway (Highway 99).
The NewQuest development represents 50 percent of the 4 million SF of retail space in Rosenberg proper.
“Brazos Town Center isn’t built-out. It is continuing to evolve,” Conwell says. “And, we will continue to reach out to prospective tenants, as they do to us, although we can’t thread everyone into the project because of multiple exclusive uses.”
With little downtime in backfilling a vacancy, NewQuest Properties recently signed Frost Bank and America’s Best as tenants in the two-million-sf Brazos Town Center in Fort Bend County.
Frost Bank and America’s Best have leased 4,147 SF and 2,988 SF, respectively, with NewQuest making room for the duo by splitting up recently vacated class A space.
“When we do lose a tenant, we backfill it very quickly,” says Conwell. “It’s an unbelievable lineup of national, regional and local credit tenants.”
America’s Best eyewear will immediately dig into its build-out, eyeing an opening by summer’s end. Frost Bank will come on line in late 2020.
Conwell and Austen Baldridge, vice president of NewQuest, handle leasing for Brazos Town Center. Lilly Golden of Evergreen Commercial Realty represented America’s Best. Scott Gardner of Streetwise Retail Advisors was Frost Bank’s tenant representative.
June 29, 2020 Realty News Report Copyright 2020
Photo: Brazos Town Center is a NewQuest Properties development in Rosenberg, southwest of Houston.
