Big Lots bankruptcy puts 10 retail leases up for grabs 

Over 208K sf of big-box retail leases in Greater Houston are headed to auction, and there could be more to come

Big Lots Bankruptcy Puts 10 Houston Retail Leases on the Market
A&G Real Estate Partners’ Andy Graiser and Emilio Amendola (Getty, Big Lots, A&G Real Estate Partners)

A major wave of Big Lots closures is set to reshape the retail landscape across the Houston metro area.

Ten leases in the Houston metro area will join the Columbus, Ohio-based retailer’s larger national auction, as it restructures under bankruptcy, the Houston Business Journal reported

“This process of portfolio-optimization is creating strong opportunities for retailers and landlords across the country,” said Andy Graiser, co-president of A&G Real Estate, which is accepting bids on 255 Big Lots leases nationwide. 

The Houston leases range from 16,300 to 54,600 square feet and vary in price. Among the largest is a 46,700-square-foot store at 4815 East Freeway in Baytown. It has a base rent of $9 per square foot and is near a planned 105-acre mixed-use development on the site of the former San Jacinto Mall

The NRG Park location, at 8210 Kirby Drive, spans 22,000 square feet and commands the highest rent of $9.50 per square foot. The Baytown and Kirby Drive stores will be part of the “Wave 3” auction on Thursday, Nov. 7, with bid deadlines set for Tuesday. The remaining Houston-area leases will follow in December.

Nexus Capital Management acquired Big Lots in a $765 million bankruptcy court-approved bid, and more stores are likely to close. 

“The availability of additional leases may be announced at a later date upon court approval,” Graiser said.  

Sign Up for the undefined Newsletter

Nexus Managing Director Evan Glucoft called Big Lots an “iconic brand” with potential for a resurgence as a leading “extreme value retailer.”

“Because of their larger formats, many of these desirable, strategically positioned locations are a strong fit for today’s expanding operators, including sports-entertainment tenants and larger food-and-beverage concepts that emphasize gaming areas and hangout spaces,” A&G co-president Emilio Amendola said. 

The Texas retail market has been absorbing vacancies from other bankruptcies, including Bed Bath & Beyond and Tuesday Morning. Houston’s retail sector remains strong with a low retail vacancy rate

The Houston-area Big Lots stores slated for auction include: 

  • Baytown: 4815 East Freeway (46,700 square feet; base rent of $9 per square foot; lease ends Jan. 31, 2030, with three five-year renewal options)
  • Galveston: 5910 Broadway (26,500 square feet; $5.50 per square foot; lease ends Jan. 31, 2027, with one five-year renewal option)
  • Houston (northwest area): 10951 Farm to Market 1960 Road West (32,000 square feet; $3.31 per square foot; lease ends Jan. 31, 2029, with one five-year renewal option)
  • Houston (northwest area): 6138 Highway 6 North (30,000 square feet; $6.75 per square foot; lease ends Jan. 31, 2025)
  • Houston (near NRG Park): 8210 Kirby Drive (22,000 square feet; $9.50 per square foot; lease ends Nov. 30, 2029)
  • Houston (Westchase District): 9795 Westheimer Road (32,400 square feet; $6.75 per square foot; lease ends Jan. 31, 2026, with two five-year renewal options)
  • Katy: 923 South. Mason Road (28,000 square feet; $7 per square foot; lease ends Jan. 31, 2026)
  • Pearland: 2028 N. Main St. (26,660 square feet; $5.99 per square foot; lease ends Nov. 14, 2026)
  • Spring: 425 Sawdust Road, Suite A (39,500 square feet; $7.98 per square foot; Jan. 31, 2025, with one five-year renewal option)
  • Tomball: 27816 State Highway 249 (29,500 square feet; $5.25 per square foot; lease ends Jan. 31, 2025, with two five-year renewal options)

— Andrew Terrell

Read more

Big Lots to Close 75 Stores in California, Many in SoCal
Commercial
Los Angeles
Big Lots to close 75 stores in California, many in SoCal
Toby Moskovits with the Williamsburg Hotel (Sasha Maslov, Google Maps)
Commercial
New York
Eastdil and A&G seek to broker sale of bankrupt Williamsburg Hotel
Rite Aid Bankruptcy Puts Retail Leases Up for Sale
Commercial
Los Angeles
Rite Aid bankruptcy puts retail leases up for sale
Recommended For You