Montrose @ Westheimer Shopping Center Sold

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11:06a, 8/10/20

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Diggity

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11:12a, 8/10/20

AG

word is Skanska paid less for the property than PMRG did. Not sure if that's true.

They could end up sitting on the land for a while just like PMRG did. Not sure what the lease situation is now.

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ThunderCougarFalconBird

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11:23a, 8/10/20

AG

Whatever the case, I sure feel bad for the pedestrian population that works the area between the bus shelters.

In all curiosity, I wonder what type of financing the rent rolls currently in place support.

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Diggity

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2:19p, 8/10/20

AG

I'm pretty sure Skanska self funds this type of deal.

Martin Q. Blank

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2:39p, 8/10/20

Half Price just pulled out of Rice Village too.

chico

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In reply to ThunderCougarFalconBird • 4:28p, 8/10/20

AG

blindey said:
Whatever the case, I sure feel bad for the pedestrian population that works the area between the bus shelters..

Better today than in the mid 80's. Really funky back then

P.H. Dexippus

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In reply to Martin Q. Blank • 5:28p, 8/10/20

AG

Between Amazon, Kindle, social media, and everyone having a tv/music player in their pocket, I've got to think the used book business has seen better days.

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Jugstore Cowboy

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In reply to P.H. Dexippus • 5:49p, 8/10/20

AG

Yeah, but they didn't have a choice in either location. Landlords wanted other things.

kansas02gt

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10:51a, 8/11/20

AG

good thing Kaboom is still around; for now...

The Milkman

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11:20a, 8/11/20

AG

That strip center was always a disaster. Whatever next development they put in will be an improvement

Satellite of Love

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In reply to The Milkman • 11:29a, 8/13/20

The Milkman said:
That strip center was always a disaster. Whatever next development they put in will be an improvement

With the sheet show that is that intersection? Traffic blows there already, it will just get worse.

Flashdiaz

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12:41p, 8/13/20

AG

Still recall a coworker going to that schlotzkey's at lunch in the middle of the day and getting approached by a prostitute: "do you want to have a good time"
Coworker: "no thanks I just want a sandwich"

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P.H. Dexippus

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In reply to Flashdiaz • 12:55p, 8/13/20

AG

Careful when ordering "lunch" in that area, might get more than bargained for

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W

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2:49p, 8/13/20

AG

investing in commercial real estate & development right now inside the loop or even inside beltway 8...

with the COVID, rioting, economy, working-from-home, oil downturn, and so forth...is a risky venture.

you better have gotten a great deal on the land.

it won't be easy finding quality tenants that can meet your desired $ per sqft requirement

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HerschelwoodHardhead

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In reply to W • 5:14p, 8/13/20

AG

Lol, don't think there's been any "rioting" in Houston, especially in a gentrified neighborhood like Montrose. I trust that the people doing Skanska real estate know what they are doing when it comes to selecting properties.

COVID will certainly be a blip in the real estate market, but in the long run I don't think it'll affect the trend of America's march towards urbanization.

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Martin Q. Blank

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In reply to Flashdiaz • 5:27p, 8/13/20

Flashdiaz said:
Still recall a coworker going to that schlotzkey's at lunch in the middle of the day and getting approached by a prostitute: "do you want to have a good time"
Coworker: "no thanks I just want a sandwich"

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