$90 million retail center being developed along Grand Parkway near Tomball
October 12, 2023
The Grand at 249 is one of the latest retail centers developed along the Grand Parkway in the Greater Houston area.
Jaime E. Galvan (KHOU 11)
TOMBALL, Texas — The areas along the Grand Parkway continue to develop, including near the junction with Highway 249, or the Tomball Tollway.
The development will front Tomball Tollway and Grand Parkway, an interchange that was still on the drawing boards when NewQuest acquired the site in the early 1990s.
“This development sits on one of the first land acquisitions made by NewQuest,” Andrew Alvis, senior vice president and development partner of NewQuest Properties, said.
NewQuest was in a position to take advantage once construction was complete along Highway 249.
“The housing growth in the 249 corridor is booming,” Alvis said. “The Grand at 249 will play a significant role in creating the next super-regional intersection in the Grand Parkway’s path.”
Tenants at The Grand at 249
Alvis and David Meyers, NewQuest’s leasing director, said they are negotiating or have signed leases for 388,856 square feet or 96.1% of the project since the beginning of the year.
These brands have signed leases while negotiations are underway with more top brands, including anchor tenants:
Two Pho Nine Asian Fusion
The Grand at 249 will also feature 12 pad sites, ranging from one to two acres. The property owners said Gringo’s and Boomer Jack’s were the first to sign ground leases.
The developer is also planning to build two multi-tenant buildings, totaling 24,902 square feet.
The Grand at 249 will be situated at the southernmost point in Tomball proper.
The freeway-fronting development is surrounded by several master-planned single-family communities and neighbors an under-construction 240-acre class A industrial development, which will house Macy’s distribution center among others.
“After decades of waiting and preparation, we couldn’t be more excited to be commencing our project in Tomball. This has been a collaborative effort between our development team and the City of Tomball’s past and current leadership,” Steve Alvis, managing partner of NewQuest, said. “We thank everyone for their collective efforts to get us to this milestone.”
First report by KHOU 11 here…
View additional NewQuest Properties sale/lease opportunities here…