Houston-based Braun Enterprises has scooped up another shopping center for a major redevelopment project, and future tenants are already inking leases.
The 5-acre property, at 8141 Long Point Road in the heart of the Spring Branch neighborhood, contains roughly 70,000 square feet of retail space built around 1960, according to the Harris County Appraisal District. Its appraised value was nearly $4.56 million for 2018, per HCAD.
Braun Enterprises bought the property from Houston-based Long Point Partners LLC for an undisclosed amount. The deal closed in November, and Braun Enterprises plans to begin renovations within the next 60 to 90 days, Zachary Wolf, director of leasing for Braun Enterprises, told the Houston Business Journal. Houston-based firms Cisneros Design Studio and Topique Construction are the architect and general contractor on the project, respectively.
The renovations are expected to wrap up by the end of the year, and Braun Enterprises has renamed the property Spring Branch Village.
Slowpokes, a Houston-based coffee shop, wine bar and restaurant, is the first tenant signed for Spring Branch Village, Wolf said. It will be Slowpokes’ third location, joining the original location in Garden Oaks/Oak Forest and the recently opened location in Upper Kirby’s Levy Park.
“(Slowpokes) will be a huge boom to the neighborhood,” Wolf said via email.
Additionally, Kenny & Ziggy’s leased a 2,300-square-foot commissary kitchen, and Braun Enterprises is finalizing a lease with a local yoga group.
“Braun Enterprises is thrilled to acquire such a well-placed shopping center that can be redeveloped with retail that caters to the Spring Branch neighborhood,” Wolf said in his email.
Braun Enterprises is known for revitalizing inner-Loop retail properties, but it also acquires and redevelops urban office properties. Houston-based Wedge Group sold an office and retail complex a block west of The Galleria mall to Braun Enterprises, which plans to renovate that property as well.
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