Walgreens Puts 180,595 SF On Area's Sublease Market

HOUSTON-Grubb & Ellis Co. is working with retailer Walgreens to sublease 12 retail spaces in Houston, Pasadena, Kingwood, Texas City and Rosenberg.

Broker Wayne Bridgeford tells GlobeSt.com that Walgreens is looking to sublease the spots because they have built freestanding owner-occupied stores to replace the older leased locations. The Houston sites are 12,000 sf at Grant Road in Cypress; 23,658 sf at Beechnut and Wilcrest; 23,100 sf at Jones Road and FM1960; 16,219 sf at Westheimer and Voss; 13,610 sf at Fuqua and Beamer; 13,360 sf at Fulton and Hays; 11,940 sf at Richmond and Ocee; 11,310 sf at Veterans Memorial and Gears. In Kingwood, there is an 11,998-sf store at Texas 59 while 16,400 sf is available at Strawberry Road in Pasadena. Texas City has a 12,000-sf building available at Palmer Highway and Rosenberg, 15,000 sf at Avenue H. Grubb & Ellis broker Jim Thompson is handling the leasing for Pasadena, Texas City and Rosenberg locations.

In an unrelated retail lease, The Stained Glass Gallery of Kingwood has leased 3,918 sf in the 57,684-sf The Market Place at 1576 Kingwood Dr. Kingwood is a master-planned community north of Houston. Thompson has represented the center’s owner, Market in Kingwood Partners Ltd. in the lease negotiations.