After leasing 10,000 sqft in the dry area of the Houston Heights we realized how valuable alcohol sales were in this market. We did some research on where this infamous wet dry line was located. One Saturday evening, on a bicycle ride along White Oak Drive, we realized the five commercial buildings between Onion Creek and Fitzgerald’s had similar black rot iron fencing. There was a surprising amount of available lease space in all five buildings at that time. It was right then that we realized there was a significant opportunity that needed prompt attention. As it turns out we were in the right place at the right time.
We did carry this property through the worst financial crisis of our time - but we never lost site of the opportunity at hand – creating an entertainment district for the diverse patronage of the Houston Heights. We added as many parking spaces as possible – assembling additional tracts of land and demolishing existing lease space to make way for low cost ($5-$7) parking. Land assemblage for parking purposes in this part of Houston, even during the economic down turn, comes at a very high price per parking space. We remained focused on finding qualified local operators that had access to their own financing and buying as much additional land for parking purposes as possible.
BEFORE : This building was built-to-suit for a pharmaceutical company in 1972.
AFTER : Dock high warehouse space needed to be converted into user friendly, easy accessed retail space.
We relocated a 500 foot wall from the northernmost property line to improve drainage and add parking to the low lying areas of the south lots.