A Florida-based grocer signed a major lease in Houston as its first venture in Texas.
NewQuest Properties leased a 4,000-square-foot former Wells Fargo bank bank building, at the intersection of San Felipe Street and South Voss Road in the Memorial submarket of Houston, to Wild Fork Foods.
The lease in the Shoppes at San Felipe, NewQuest’s 61,000-square-foot Class A construction project, provides the affluent, high-population location the grocer needs, Kevin Sims, vice president of NewQuest Properties, said in a media release.
“Wild Fork Foods had very specific criteria for sites in high-income areas,” he said. “The Shoppes at San Felipe fit the bill.”
The average household income in neighborhoods around the development is about $144,000, and more than a half-million people live within a five mile radius, according to Houston-based NewQuest.
Wild Fork Foods specializes in frozen meats, including dry-aged beef, with personal shoppers and delivery, as well as in-person shopping, according to its website.
Talks to lease the building began shortly after it was vacated. Construction is expected to begin by the end of this year, and the grocery could open in the second quarter of 2023.
The fast-growing company could have more in the works.
“Wild Fork Foods is going to have a strong presence in Houston,” Sims says.
Other firms are also eyeing the metro’s retail market, such as New York-based REIT Brixmor, which bought more than $33.5 million worth of shopping centers in the city earlier this year.
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