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River Oaks District: Mixed-Use Development At 4444 Westheimer Rd. & 4702 Westheimer Rd.


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On 6/1/2016 at 9:38 PM, mkultra25 said:

 

There are far too many alternative places that serve outstanding burgers in Houston to ever justify a 45 minute to 1.5 hour wait for one. Perhaps they think they're the Franklin Barbecue of burgers. Must be an Austin thing, they all seem to view waiting as a competition and labor under the impression that there's a correlation between the length of the wait and the quality of the resulting experience. 

 

Austin has a much higher tolerance for waiting in line for food than Houston does. Hopdoddy, yes, but also Torchy's, Tatsu-ya, Franklin, etc. Maybe Austin has more people with nothing better to do than wait in line for food.

 

I would expect the Houston Hopdoddy line to run considerably shorter than in Austin within a few months.

 

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13321961_1031418126940189_99909011986849

^^^ OMG, the new exterior of the magnificent HARRY WINSTON boutique at ROD is simply brilliant, stunning, and opulent.  one can only imagine

just what the interior shall look like once construction is completed this summer.  WOW!

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JPMorgan Asset Management has purchased Houston's posh mixed-use complex, River Oaks District, in a partnership with the property's developer, according to sources familiar with the deal.

The cash transaction was more than $550 million, according to a source, a high price for the Inner-Loop shopping, office and apartment development and one that demonstrates the resilience of Houston's retail market amid an economic slump due to collapsing oil prices.

 

While the city's office market has been hammered by energy's decline, retail real estate is still benefiting from population gains and lower gas prices, according to a recent report from CBRE Group, a commercial real estate firm.

"The sheer size of the market has captured the attention of retailers, placing Houston as their third most sought after market for expansion behind New York and Los Angeles," the report stated.

Still, CBRE warned that by the end of the year or early 2017, retail sales could soften as more high-paying jobs are lost.

OliverMcMillan, the San Diego-based real estate firm that developed River Oaks District, retained an ownership stake in the property and a management role in the partnership, sources said.

The seller was an entity including OliverMcMillan and Baupost Group, a Boston-based hedge fund. OliverMcMillan also had a $150 million loan on the property from Bank of America, according to property records filed in Harris County.

OliverMcMillan and JPMorgan declined to comment.

Such sales of properties aren't uncommon after the developing process is finished, said Ed Wulfe, longtime real estate developer and chairman and CEO of Wulfe & Co.

"It happens often and I think the bottom line is this is just ensuring the financial stability of the project with a major financial institution, which again protects the viability of the project," Wulfe said.

Those changes typically don't affect retail tenants. Essentially, a landlord change may be the only impact they'll experience, and in this case, the original developer is still involved the project.

River Oaks District spans 14 acres at 4444 Westheimer, just inside the West Loop. The project, some 10 years in the making, opened last fall with some of the world's top luxury brands, including Cartier, Dior, Hermes and Tom Ford. A slate of restaurants have or will soon open, including French bistro Toulouse Café and Bar, Taverna, Steak 48, Le Colonial and Hopdoddy Burger Bar from Austin.

Several River Oaks District retailers and their representatives contacted by the Chronicle declined comment on the purchase

4

http://www.chron.com/business/real-estate/article/River-Oaks-District-fetches-550M-plus-in-cash-7973054.php

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Been going to hopdoddy ever since they opened in Dallas three years ago (though I'm sure Houston was always in their expansion plans). Like Gene said, you can skip the line if you eat at the bar, which is funner anyway. I recommend the Diablo if you like spicy stuff, I can't get anything else there now. Whataburger has a more traditional burger taste, I'm not sure what it is about hopdoddy's burger patties but something isn't conventional. Of course half the time you eat at Whataburger you get cold food, which doesn't happen at hopdoddy.

 

Another thing - the signs at the Austin locations are a little racier than in Dallas, lots of "smack my buns" type stuff. Be interesting to see which version Houston gets.

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2 hours ago, H-Town Man said:

Been going to hopdoddy ever since they opened in Dallas three years ago (though I'm sure Houston was always in their expansion plans). Like Gene said, you can skip the line if you eat at the bar, which is funner anyway. I recommend the Diablo if you like spicy stuff, I can't get anything else there now. Whataburger has a more traditional burger taste, I'm not sure what it is about hopdoddy's burger patties but something isn't conventional. Of course half the time you eat at Whataburger you get cold food, which doesn't happen at hopdoddy.

 

Another thing - the signs at the Austin locations are a little racier than in Dallas, lots of "smack my buns" type stuff. Be interesting to see which version Houston gets.

I will be there around 1:30 today if anyone wants to join me. Green sear-sucker shorts.

 

 

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i didnt see this posted before (so if it has, then sorry!) but here is a good news update on iPic and the pending lawsuit that will now go to court in October!

http://www.houstonchronicle.com/business/retail/article/iPic-chain-gets-another-win-in-fight-with-AMC-7940805.php

i love iPic and the amenities and food etc so i have found the higher price is acceptable and warranted in my opinion... and it keeps the riff raff away which is honestly the best part ;) 

 

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HW is likely never "busy".  They probably only need to make a handful sales a month to do just fine.  Did I read at one point (I think before Apple NYC) that HW was the highest grossing store per sq ft in Manhattan?  It only takes a few 0.1%-ers to make a month at HW, I would guess.

 

 

 

 

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29 minutes ago, UtterlyUrban said:

HW is likely never "busy".  They probably only need to make a handful sales a month to do just fine.  Did I read at one point (I think before Apple NYC) that HW was the highest grossing store per sq ft in Manhattan?  It only takes a few 0.1%-ers to make a month at HW, I would guess.

 

 

 

 

I've never had the pleasure of shopping at HW - how expensive are they ?

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58 minutes ago, HoustonMidtown said:

I've never had the pleasure of shopping at HW - how expensive are they ?

I have not been inside either as it would be a pointless waste of time for me.  They don't list prices on their website bit a google search is revealing (if true, and I suspect it is more true than not).  

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920x920.jpg

^^^ JOHN HARDY is coming to ROD.  another top brand jewelry retailer.... nice.....

 

Houston will get the first of three U.S. retail locations for John Hardy, an international luxury jewelry maker.

The 1,000-square-foot Houston boutique is scheduled to open in September in River Oaks District. It will be John Hardy's first U.S. location, according to the company. A New York City flagship store is scheduled to open in November, followed by a third store in an as yet unannounced U.S. city.

The retailer touts its expansion into U.S. markets as part of an ongoing transformation for the 41-year-old brand, which has included developing global digital commerce to be a "business that reaches customers at multiple touchpoints."

"As we work to grow the John Hardy brand and bring the best luxury jewelry and service to our clients, expansion in to retail boutiques in the U.S. is a natural next step," CEO Robert Hanson said in a statement.

John Hardy began its artisan, handcrafted jewelry business in Bali in 1975. The company sells its collection in the U.S. through several other retailers. The retailer has a design studio and workshop in Ubud, Bali.

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i will say it has been so awesome to see this development come alive since the restaurant openings!!! it seriously was a ghost town for the longest time it felt like!

and hopdoddy, while still busy doesnt have the super long lines like the opening week so its been great getting to go there often! 

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4 hours ago, UtterlyUrban said:

Akris:

 

the home of a $2000 sack dress.  Yippie.

 

https://www.akris.ch/us_en/akris/dresses/7646

 

or this  thing for $3000:

 

https://www.akris.ch/us_en/akris/dresses/7435

 

 

 

 

 

 

 

 

Apart from the first one being Wool, you pay for the name. It's exclusive and you have to afford the admission.

 

Meanwhile I'll feel fancy with brooks brothers & j crew. 

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12 hours ago, gene said:

i will say it has been so awesome to see this development come alive since the restaurant openings!!! it seriously was a ghost town for the longest time it felt like!

and hopdoddy, while still busy doesnt have the super long lines like the opening week so its been great getting to go there often! 

what time are you going? ive tried 3 times to go. everytime....an hour + wait.

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  • 2 weeks later...
On 6/28/2016 at 3:16 PM, monarch said:

^^^ the usual suspect....

Someone referred to ROD coming alive (more?) with the most recent restaurant openings, and that makes sense to me even though I personally am not impressed (quite the opposite) with some of the restaurants.  I love ROD, and am excited about the few stores signed and yet to open, like the gelato place, etc.   What I find most interesting, however, from a business perspective is how many empty spaces still remain.  If one looks at the current site plan in the brochure, there is a LOT of unleased space, much of which could be described as 'among the least attractive locations within the property."  I would guess that the somewhat of a recession Houston is experiencing, or slowdown, or employment dips, or whatever a person chooses to describe our current economy, is the primary factor in what seems to me to be a dramatic slowdown and loss of momentum.  Just interesting to me, and makes me wonder about the future of ROD in particular, and the undeveloped (and 'to be redeveloped someday') properties surrounding it.  I hope this makes sense to you.  All thoughts as always are welcome as I continue to enjoy the beauty of ROD's total experience.

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