Burlington Coat Factory Leases 80,000 sf

HOUSTON, TX - December 14, 2006 -- Burlington Coat Factory leased 80,000 sf of a former 100,000 sf Target store in the newly renovated location now known as Greens Crossroads Shopping Center at 249 W. Greens Rd.   Burlington is expected to open in March in the 151,813 sf shopping center., making it the fifth store in the Greater Houston area.  Shawn Ackerman, Senior Vice President and Jason Gaines, V.P. of Henry S Miller Commercial handled the transaction.

 The property was acquired in the summer of 2005 and was only 24% occupied. According to Andrew Schreer, managing member of Vendure Crossroads LLC, the property owner, “the center underwent a $5 million renovation and that, combined with the strong management and leasing of Henry S. Miller Commercial’s Houston office helped to turn the center into a viable property for tenants”.  Schreer points out that his retail center also has been helped by the Greenspoint submarket's growth. "That area has turned 180 degrees in the past year," he says.

 Additionally, Cricket Communications Inc. has leased 1,740 sf for a cellular phone store. Both deals push occupancy in the 1980s built center to nearly 79%.  According to Shawn Ackerman, other leases are nearing completion, "We'll be at above 90% within the next three to four months," who noted that area retailers are happy with the reemergence of the Greenspoint market area. "This Burlington deal was a great one for the submarket," he adds. "It's a great regional intersection and Burlington thinks they'll do well there."

Henry S. Miller Commercial, founded in 1914, is Texas’ largest independent commercial real estate firm and a member of The Commercial Network, one of the largest affiliations of commercial real estate firms in the nation.