New Retail Center Coming to Kemah, TX
- Jun 28, 2017
GBT Realty Corp., a development company based in Tennessee, plans to build a 79,000-square-foot shopping center along Deke Slayton Highway in Kemah, Texas. GBT acquired the 11.7-acre lot for The Shoppes of Kemah in May with $2.1 million. The firm received an incentive package for this project from the local government.
The new retail center will be shadow-anchored by Walmart and the initial tenant lineup includes: Petco, Marshalls, Ross Dress for Less, ULTA and Rack Room Shoes. There are only 6,400 square feet available for lease at the property, best suited for local and regional boutiques and other service providers. Also, the site is connected to the Walmart parking lot.
The Kemah Entertainment District is a popular touristic spot in Greater Houston and features a 35-acre carnival-like park with a 36-foot carousel and a 65-foot Ferris wheel among other rides. Approximately 44,000 households are located within a 10-minute drive of the shopping center and more than 12,000 vehicles pass by every day.
“It was an easy decision to pursue a shopping center in this community that has become a regional tourist destination in part due to the popularity of the Kemah Entertainment District,” Jeff Pape, managing director of the shopping center division at GBT Realty, said in a prepared statement. “The Shoppes of Kemah is just a short drive from the Kemah Boardwalk that is recognized as one of the premier boardwalks in the United States with 60 acres of top-name restaurants, retail shops, rides, games and attractions, as well as a hotel and marina.”
Expanding the business
GBT announced the expansion of its business lines and the addition of its value-add division led by Managing Director Scott Porter. “Kemah, Texas, is also an example of GBT aligning with the expansion strategies of our retail partners and heading to where many other developers won’t go or overlook,” added Pape.
Images courtesy of GBT Realty Corp.