Shepherd Plaza near 59

[Dakota79 650]

I searched for a thread in this but didn't see one. The realtor has for years put up all these signs saying it's back. To me, this is certainly a place for apts and GFR. Why, in this market is the shopping center dead except for Amy's Ice Cream and Freebirds? I would post a photo of it but don't know how yet.

Edited March 7, 2014 by Dakota79

[nativehoustonion 588]

A realtor told me that HEB owns that whole lot.  They are not renewing leases so something is going on at Shepard and Richmond.  We may another Central Market there.  

[jt16 169]

I would be surprised if they went with cm. that's too close to the other cm

[IronTiger 913]

I'd be surprised if it will be an H-E-B at all, since it's smack dab between Buffalo Speedway and Montrose Market. Knowing what I do about H-E-B, it sounds more like a defensive move to prevent any other food or drug stores moving in.

[Fortune 892]

This was brought up on Swamplot the other day

http://swamplot.com/stags-head-pub-cant-renew-its-lease-is-calling-it-quits-for-now/2015-04-14/

[hindesky 46865]

Maybe a Mi Tienda is going up.

[kylejack 875]

I'd be surprised if it will be an H-E-B at all, since it's smack dab between Buffalo Speedway and Montrose Market. Knowing what I do about H-E-B, it sounds more like a defensive move to prevent any other food or drug stores moving in.

Nah, they acquired the land before Buffalo Speedway and then ended up building there instead.

 

As to why they're not renewing Stag's Head lease, that is a mystery.

[IronTiger 913]

Nah, they acquired the land before Buffalo Speedway and then ended up building there instead.

As to why they're not renewing Stag's Head lease, that is a mystery.

FWIW, I never read the Swamplot post, which does mention that. I'm sure HEB's not building a store there, but it is a mystery of the non renewal.

[Avossos 2297]

FWIW, I never read the Swamplot post, which does mention that. I'm sure HEB's not building a store there, but it is a mystery of the non renewal.

Maybe they will sell for a high rise or future mf?

A central market isn't that out of the question..

Why does Houston only have one CM?

[hindesky 46865]

Maybe they will sell for a high rise or future mf?

A central market isn't that out of the question..

Why does Houston only have one CM?

It's 2.5 miles to the CM on Westheimer and Weslayan, I doubt they would build another that close. I bet they end up selling the property.

[toxtethogrady 808]

My sense is that some of the HEBs in Houston are built to Central Market requirements. As it is, the definition is kind of flexible; the CM in Fort Worth is not like the CM in Grapevine at all.

Edited April 20, 2015 by toxtethogrady

[kylejack 875]

Predicting another mid-rise apartment complex.

[toxtethogrady 808]

It would be cool if it were a midrise with a Central Market on the ground floor. Now THAT's mixed use!

[nativehoustonion 588]

Also the post office on Greenbriar  is closing in August they sold that lot.  I feel another HEB or Central Market there would not lose money because the HEB off Alabama, and Central Market are always packed!  

[IronTiger 913]

Also the post office on Greenbriar  is closing in August they sold that lot.  I feel another HEB or Central Market there would not lose money because the HEB off Alabama, and Central Market are always packed!  

 

That's not really how grocery stores operate, though, it's in their benefit to be packed, not yours, and with the placement of two upscale, full-line H-E-B stores in the area means that everyone in the area that wants an H-E-B has one, and all a third H-E-B would do is just cannibalize the sales of the other two, which isn't good because these types of stores are expensive to build and operate (especially Central Market) and grocery stores are still a low profit margin business. 

 

This paragraph wouldn't hold true if Buffalo Speedway or Montrose were Pantry-era stores built 20-25 years ago, but they aren't.

[nativehoustonion 588]

Thanks you good information.

 

[kylejack 875]

 

That's not really how grocery stores operate, though, it's in their benefit to be packed, not yours, and with the placement of two upscale, full-line H-E-B stores in the area means that everyone in the area that wants an H-E-B has one, and all a third H-E-B would do is just cannibalize the sales of the other two, which isn't good because these types of stores are expensive to build and operate (especially Central Market) and grocery stores are still a low profit margin business. 

Apparently nobody advised Mattress Firm.

[IronTiger 913]

Apparently nobody advised Mattress Firm.

Mattress stores cost next to nothing (comparatively) to operate, which is why fly-by-night mattress stores tend to crop up in even depressed areas.

I *should* also bring up that the other exception is if there's already a formerly operating grocery store in the area that already has recently unemployed employees and everything set up, thus creating scenarios like two Publix stores operating across the street from each other, or if you want a local example, 5 Krogers in a 3 mile radius (roughly north of the intersection of Beltway 8 and NW, but two of those were old Albertsons (the second Publix was another Albertsons, btw) and the only others to speak of are one HEB and a Food Town. Inner Loop Houston will never achieve that type of saturation because it's a far more diverse market in the same area (density helps too): two H-E-B stores, a Central Market, at least three Krogers, at least three Randalls, at least two Whole Foods, at least two Fiestas, a Trader Joe's, and probably others I've inevitably missed.

With the Inner Loop supermarkets being consistently packed even into the wee hours of night, it's likely that there IS room for another supermarket, but land is an issue and would H-E-B allow them to build there? (Answer: No)

[Sparrow 315]

Land was bought nearly a decade ago and has been quite a profitable real estate investment. Value has doubled since 2011. Don't think for a second that all HEB does is sell groceries. They're very big into the real estate game. I wouldn't think they'd sell this property. May develop it other than a store location, but selling would open up the opportunity for a competitor. Buildings are half a century old, about time for something to happen here.

[IronTiger 913]

Land was bought nearly a decade ago and has been quite a profitable real estate investment. Value has doubled since 2011. Don't think for a second that all HEB does is sell groceries. They're very big into the real estate game. I wouldn't think they'd sell this property. May develop it other than a store location, but selling would open up the opportunity for a competitor. Buildings are half a century old, about time for something to happen here.

I believe H-E-B also owns most of its shopping centers it developed for its Pantry stores, and many supermarkets still have "sleeper" sites even in markets that they no longer operate in. H-E-B owns a bunch of Dallas sites, I know Albertsons still has control of their Waco location closed in 2006 (McLennan County Appraisal District), and I wouldn't be surprised if they owned some San Antonio locations still as well (in fact, I think I read somewhere that they did make sure some weren't used for grocery).

[toxtethogrady 808]

With the Inner Loop supermarkets being consistently packed even into the wee hours of night, it's likely that there IS room for another supermarket, but land is an issue and would H-E-B allow them to build there? (Answer: No)

 

There is a "food desert" running north-south through the center of Houston. Ripe for an Aldi or a Winco (or two or three). Even Trader Joe should find a niche.

[Alec 502]

There is a "food desert" running north-south through the center of Houston. Ripe for an Aldi or a Winco (or two or three). Even Trader Joe should find a niche.

 

I love WinCo! I know them from the Northwest - didn't realize they expanded beyond their namesake states. How about a WinCoT on a couple of the adjoining surface lots left on the south side of downtown?

[IronTiger 913]

There is a "food desert" running north-south through the center of Houston. Ripe for an Aldi or a Winco (or two or three). Even Trader Joe should find a niche.

Yes, there is space closer to the University of Houston, but not so much in the Upper Kirby/Montrose area.

[toxtethogrady 808]

UH is exactly where TJ needs to be, if no space along Fulton or North Main can be found.

[AREJAY 1314]

Well, a reply is better late (2 years) than never, right? 

http://www.bizjournals.com/houston/morning_call/2016/05/long-awaited-h-e-b-redevelopment-still-a-few-years.html

 

Quote

While H-E-B Grocery Co. has many Houston-area locations underway, one long-awaited location is still a few years off.

H-E-B Houston Division President Scott McClelland told the Houston Chronicle that the San Antonio-based company has “cleaned out most of” Shepherd Plaza, which it has owned for about 10 years.

Much of the shopping center, just south of Richmond Avenue between Greenbriar and South Shepherd drives, is vacant, but Tuesday Morning has the longest remaining lease, the Chronicle reports. That lease is expected to expire in 2019, McClelland told the Chronicle.

 

 

Although I love HEB, a location there is really disappointing.  There's a brand new one not even a mile away, so I don't really get the need for a location here. 

[mkultra25 1206]

3 hours ago, AREJAY said:

Although I love HEB, a location there is really disappointing.  There's a brand new one not even a mile away, so I don't really get the need for a location here. 

 

Considering the one on Dunlavy and the one on Buffalo Speedway, I'd agree that adding another location on the Shepherd Plaza site is a headscratcher. I realize the other two stores are usually quite crowded, but it's disappointing that other parts of town that could easily support an HEB are still left wanting while another one is already being planned for an area that's already well-populated with their stores. 

[KinkaidAlum 2837]

HEB is fine but I kinda liked Shepherd Plaza. Memories of 8-0 will last forever and those buildings are pretty cool for a strip mall. 

 

I hate that we've already lost Stag's Head and we will lose Amy's and Freebirds for another HEB and I am assuming massive amounts of surface parking.

[htownproud 333]

My guess is that it will be a Central Market with the Montrose HEB so close.  

[Fringe 351]

19 hours ago, htownproud said:

My guess is that it will be a Central Market with the Montrose HEB so close.  

That would be cool but it's kind of close to the other Central Market. Unless this takes the place of the other one. They need more space and easier access. 

[j_cuevas713 3073]

Old thread but I live right next to this area and wish they would keep it as a shopping center. This area has some good walkablity. 

[BeerNut 2573]

Has anyone heard anything recent about this property? 

[Highrise Tower 33565]

On 8/16/2020 at 1:59 PM, BeerNut said:

Has anyone heard anything recent about this property? 

Proposed 2-story office for across the street at Lexington and Greenbriar.  Taking out the car wash.

https://www.loopnet.com/Listing/2152-Lexington-St-Houston-TX/21542124/

[hindesky 46865]

Plotsky Group seems to buy distressed properties and sit on them for years. I've seen several of their properties around the greater Houston area. It seems like they run out the tenants and just wait till someone buys them out. Not sure what their agenda is. Seems like the property taxes would kill them. But maybe they no better.