IntheKnowHouston Posted November 19, 2023 Share Posted November 19, 2023 On 11/17/2023 at 1:40 PM, 79ta said: Seems like there was a different thread for this location but I don't see it. Here's some redevelopment information regarding the property. "Lamasar Capital, Summit Capital and Delta LP... along with Houston-based Fidelis, has been brought on as partners to build and manage the development... They foresee a vibrant mixed-use development including residences and a spectrum of destinations and services. The timeline for the new development's completion is estimated to span 3-4 years." https://www.theleadernews.com/community/former-sears-site-in-garden-oaks-set-for-redevelopment/article_50279192-856c-11ee-b4a9-0fd16ab80222.html Thanks for posting. A warranty deed for 4000 N Shepherd Dr was recorded to the county clerk's database on November 6. Garden Oaks Property Development LLC is listed as the buyer. As noted above, Garden Oaks Property Development LLC is an entity of Lamasar Capital LLC. I'm glad about the sale of the former Sears property. Here's hoping nearby residents will be pleased with the property's impending redevelopment. 1 Quote Link to comment Share on other sites More sharing options...
JLWM8609 Posted November 19, 2023 Share Posted November 19, 2023 Whatever they do, I hope they preserve the bus stop with the Sears sign on it. 6 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted November 22, 2023 Share Posted November 22, 2023 (edited) On 11/17/2023 at 1:40 PM, 79ta said: Here's some redevelopment information regarding the property. "Lamasar Capital, Summit Capital and Delta LP... along with Houston-based Fidelis, has been brought on as partners to build and manage the development... They foresee a vibrant mixed-use development including residences and a spectrum of destinations and services. The timeline for the new development's completion is estimated to span 3-4 years." https://www.theleadernews.com/community/former-sears-site-in-garden-oaks-set-for-redevelopment/article_50279192-856c-11ee-b4a9-0fd16ab80222.html Houston Public Media published an article today regarding the potential redevelopment of 4000 N Shepherd Dr. The property is the former site of Sears. The article doesn't offer further details beyond the press release also sent to The Leader. A mixed-use development with residences and retail stores is planned for a former Sears property in an already bustling part of Houston... "This site represents a perfect opportunity to redevelop commercial uses to meet the retail and residential demand growth in the area," [said Lynn Davis, the chief marketing officer for Fidelis.] https://www.houstonpublicmedia.org/articles/news/business/2023/11/21/470298/former-sears-property-in-north-houston-to-be-redeveloped-for-retail-and-residential-use/ Edited November 22, 2023 by IntheKnowHouston 1 Quote Link to comment Share on other sites More sharing options...
hindesky Posted November 22, 2023 Share Posted November 22, 2023 https://lamasarcapital.com Quote Link to comment Share on other sites More sharing options...
DotCom Posted November 22, 2023 Share Posted November 22, 2023 Mods, we prob need to change the title on this. Adding the Biz Journal article from yesterday: https://www.bizjournals.com/houston/news/2023/11/21/garden-oaks-sears-store-mixed-use-development.html The longtime Sears store in Garden Oaks, which has been closed since 2020, will soon be demolished to make way for a new mixed-use development. Sugar Land-based Lamasar Capital acquired the property at 4000 N. Shepherd Drive, with financial support from Houston-based Summit Capital and Delta LP, paying an undisclosed price for the parcel, according to a news release. While the terms of the transaction were not disclosed, the 11.7-acre property near the intersection of North Shepherd Drive and Garden Oaks Boulevard had an assessed value of $15.6 million as of Jan. 1, according to Harris Central Appraisal District records. The property includes the primary Sears store as well as an auto repair center. Specific details about what the mixed-use development will include were not provided. However, Ashiq Ali, co-founder of Lamasar Capital, said it will include both retail and residential components. “Our vision for a vibrant mixed-use development in this thriving neighborhood aims to create not just residences but also a spectrum of destinations and services,” Ali said. “Our goal is to establish a legacy that integrates innovation, serves the community, and becomes a focal point for the neighborhood's growth and prosperity for years to come.” Lamasar Capital has tapped Bellaire-based Fidelis to oversee construction of the new development, which is scheduled to wrap up in the next three to four years. “Our overriding goal in our developments and redevelopments is always to align the interests of all stakeholders — residents, merchants and landlord — to provide the best redevelopment possible to maximize the shopping, service and living experiences for our community and tenants. Everyone wins when this is achieved,” Fidelis CEO Alan Hassenflu said. “This site represents a perfect opportunity to redevelop commercial uses to meet the retail and residential demand growth in the area.” The Sears store at 4000 N. Shepherd opened in 1949 and had been in operation for more than 70 years before shuttering three years ago as part of a wave of Sears closures. In October 2018, CBRE Senior Vice President Mark Witcher said the Sears locations at Memorial City Mall and 4000 N. Shepherd Drive presented the best redevelopment opportunities. The Sears at Memorial City Mall closed in November 2018, one of the chain's most noteworthy closures in Houston. The mall's owner, Houston-based MetroNational, announced in May 2019 that plans were underway to transform the mall, driven by the Sears closure. The Memorial City Sears store was demolished in 2020, and MetroNational plans to replace it with a 27-acre urban infill development, dubbed Memorial Town Square. The development eventually will feature a mix of retail, coworking, traditional office and multifamily spaces. Also in 2020, the Sears stores at Willowbrook Mall in northwest Houston and Deerbrook Mall in Humble shut down. Prior to that, the Mall of the Mainland Sears in Texas City, southeast of Houston, was among the closures announced in August 2019. Another noteworthy local Sears closure was in Midtown, where the company had a storefront at 4201 Main St. for 73 years before it closed in January 2018. That property has since been transformed into the Ion, the centerpiece for Houston's growing innovation district. 4 1 Quote Link to comment Share on other sites More sharing options...
strickn Posted November 22, 2023 Share Posted November 22, 2023 Good info but can't repost journalism like that, even properly attributed and linked Quote Link to comment Share on other sites More sharing options...
hindesky Posted December 3, 2023 Share Posted December 3, 2023 It's a huge piece of property. Sears. Automotive Center. 4 Quote Link to comment Share on other sites More sharing options...
Popular Post Urbannizer Posted January 4 Author Popular Post Share Posted January 4 12 Quote Link to comment Share on other sites More sharing options...
Triton Posted January 4 Share Posted January 4 What grocery store could go into this location? Definitely not Whole Foods nor HEB. Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted January 4 Share Posted January 4 Fiesta 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted January 4 Share Posted January 4 38 minutes ago, Triton said: What grocery store could go into this location? Definitely not Whole Foods nor HEB. Why not HEB? Quote Link to comment Share on other sites More sharing options...
j_cuevas713 Posted January 4 Share Posted January 4 9 minutes ago, Houston19514 said: Why not HEB? Maybe HEB but there is one right down the road from here 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 4 Share Posted January 4 (edited) 11 hours ago, Urbannizer said: Thank you for sharing, @Urbannizer. The rendering is probably a very early mock up or a conceptual one, still, I was hoping for something more. I suppose the design, at least for now, blends into the area. It gives more of a neighborhood feel compared to the high-rise building I hoped for. Edited January 4 by IntheKnowHouston 3 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 4 Share Posted January 4 11 hours ago, Urbannizer said: Below are a few additional notes regarding the proposed mixed-use development at 4000 N Shepherd Dr. The details are from the marketing brochure and from recent articles: Project timeline: Five years Development plans: Mixed-use, retail, and multifamily Ongoing discussions with a development partner for a major grocer and a unique multi-family lifestyle project. Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 4 Share Posted January 4 (edited) 12 hours ago, Urbannizer said: 1 hour ago, IntheKnowHouston said: Below are a few additional notes regarding the proposed mixed-use development at 4000 N Shepherd Dr. The details are from the marketing brochure and from recent articles: Project timeline: Five years Development plans: Mixed-use, retail, and multifamily Ongoing discussions with a development partner for a major grocer and a unique multi-family lifestyle project. Below are details from the preliminary / conceptual site plan for the proposed mixed-use development's ground level. The site plan is from recent marketing materials. Lamasar Capital, Summit Capital Group, and Delta Ventures are joining forces to redevelop the former Sears property in the Garden Oaks area. The development is planned for 4000 North Shepherd Dr. According to the preliminary ground level site plan, the following may be included: Grocery store (possibly 70,000 sf) - located on the corner of N Shepherd Dr and Garden Oaks Blvd with residential above Park / greenspace / open space - fronting N Shepherd; located in the middle of the development Retail (possibly ±20,000 sf) - located behind the proposed park and open space; residential is above Additional residential - located near W Crosstimbers From the table included in the preliminary ground level site plan: Retail / Restaurant Grocery - 70,000 gross leasable area Small retail / food and beverage concept (restaurant) - 27,000 gross leasable area Total square footage / parking retail - 400 parking spaces Parking ratio -4.1 / 1,000 sf Total gross leasable area - 97,000 Residential Surface parking / shared (back) - 103 Structured parking (residential) - 960 Total square footage / parking residential - 1,063 Total residential units -752 units Parking ratio - 1.4 unit Total project parking: 1,463 Edited January 4 by IntheKnowHouston 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 4 Share Posted January 4 7 minutes ago, IntheKnowHouston said: According to the preliminary ground level site plan, the following may be included: Grocery store (possibly 70,000 sf) - located on the corner of N Shepherd Dr and Garden Oaks Blvd with residential above Park / greenspace / open space - fronting N Shepherd; located in the middle of the development Retail (possibly ±20,000 sf) - located behind the proposed park and open space; residential is above Additional residential - located near W Crosstimbers From the table included in the preliminary ground level site plan: Retail / Restaurant Grocery - 70,000 gross leasable area Small retail / food and beverage concept (restaurant) - 27,000 gross leasable area Total square footage / parking retail - 400 parking spaces Parking ratio -4.1 / 1,000 sf Total gross leasable area - 97,000 Residential Surface parking / shared (back) - 103 Structured parking (residential) - 960 Total square footage / parking residential - 1,063 Total residential units -752 units Parking ratio - 1.4 unit Total project parking: 1,463 Below is the preliminary / conceptual site plan for the proposed mixed-use development's ground level. The site plan is from recent marketing materials. Lamasar Capital, Summit Capital Group, and Delta Ventures are joining forces to redevelop the former Sears property in the Garden Oaks area. The development is planned for 4000 North Shepherd Dr. Closer view Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 4 Share Posted January 4 Below are preliminary / conceptual diagrams for the proposed mixed-use development. This is included in recent marketing materials. Lamasar Capital, Summit Capital Group, and Delta Ventures are joining forces to redevelop the former Sears property in the Garden Oaks area. The development is planned for 4000 North Shepherd Dr. 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 4 Share Posted January 4 (edited) 3 hours ago, Triton said: What grocery store could go into this location? Definitely not Whole Foods nor HEB. 3 hours ago, j_cuevas713 said: Fiesta I think the former Sears location at 4000 N Shepherd Dr would be a good fit for a Trader Joe's. However, that may not happen here. Based off the preliminary plans, it appears the developers are looking for a grocer to fill a 70,000 sf space. Trader Joe's are typically much smaller. Then again, if the developers decide to carve the unit, maybe Trader Joe's can go here. The rest of the space could be use for other retail. Edited January 4 by IntheKnowHouston 1 Quote Link to comment Share on other sites More sharing options...
IntheKnowHouston Posted January 5 Share Posted January 5 (edited) 15 hours ago, Urbannizer said: @Urbannizer, you may be aware of this already, but if not, the conceptual rendering included in marketing materials is not the proposed mixed-use for 4000 N Shepherd Dr. A reverse image search shows the rendering is for a mixed-use in Memphis. It seems developers included the rendering to possibly provide investors with an idea of the development's design inspiration. Hopefully, an official design will be released later this year. Sources: https://www.bizjournals.com/memphis/news/2015/11/30/idlewild-street-closure-to-be-heard-tuesday.html https://www.memphisdailynews.com/news/2015/oct/8/bye-bye-blight/ Edited January 5 by IntheKnowHouston Quote Link to comment Share on other sites More sharing options...
Buy-U-City Posted January 5 Share Posted January 5 It's unlikely they would incorporate the iconic Sears sign into the project, but we can wish 4 Quote Link to comment Share on other sites More sharing options...
Ross Posted January 5 Share Posted January 5 3 hours ago, IntheKnowHouston said: @Urbannizer, you may be aware of this already, but if not, the conceptual rendering included in marketing materials is not the proposed mixed-use for 4000 N Shepherd Dr. A reverse image search shows the rendering is for a mixed-use in Memphis. It seems developers included the rendering to possibly provide investors with an idea of the development's design inspiration. Hopefully, an official design will be released later this year. Sources: https://www.bizjournals.com/memphis/news/2015/11/30/idlewild-street-closure-to-be-heard-tuesday.html https://www.memphisdailynews.com/news/2015/oct/8/bye-bye-blight/ Do you have permission from the Memphis Daily News to save their copyrighted material to imgur? If not, take it down. Quote Link to comment Share on other sites More sharing options...
Triton Posted January 5 Share Posted January 5 5 hours ago, IntheKnowHouston said: @Urbannizer, you may be aware of this already, but if not, the conceptual rendering included in marketing materials is not the proposed mixed-use for 4000 N Shepherd Dr. A reverse image search shows the rendering is for a mixed-use in Memphis. It seems developers included the rendering to possibly provide investors with an idea of the development's design inspiration. Hopefully, an official design will be released later this year. Sources: https://www.bizjournals.com/memphis/news/2015/11/30/idlewild-street-closure-to-be-heard-tuesday.html https://www.memphisdailynews.com/news/2015/oct/8/bye-bye-blight/ He likely went with it because they took the time to add "Garden Oaks" on the side of the building, but I get what you mean. 10 hours ago, Houston19514 said: Why not HEB? I suppose it is possible but I highly doubt HEB would build yet another HEB on the same street just blocks north of their other location. 2 Quote Link to comment Share on other sites More sharing options...
hbg.50 Posted January 5 Share Posted January 5 6 hours ago, Buy-U-City said: It's unlikely they would incorporate the iconic Sears sign into the project, but we can wish What is your affection towards Sears? It was my first job when I turned 16. I never worked at this location but I believe it was store #1127. It’s funny how one remembers the mundane store department codes (what a waste of brain space!). Washers/Dryers was #26. Lawn equipment was #9. I bet I have some old training materials tucked away somewhere. The only thing I really miss about Sears was the fresh smell of popcorn when one walked in the store, and their assortment of candies. Berings used to keep a similar candy section with the very best chocolate covered peanuts, but alas they did away with that in their stores in favor of pre-packaged candies. Time marches on and things change. I doubt there is any redeeming value of an old Sears sign to a developer. I know the Harold’s name was kept bizarrely for a restaurant. That, however was Houston-based and just a single location. I hope whatever Sears is torn down for it is something the neighborhood wants. I find Shepherd to be too busy a street for me. Wabash picked the worst street location in my opinion. I know they were priced out from Washington but I wonder if they regret the move? Time marches on… 1 Quote Link to comment Share on other sites More sharing options...
goofy Posted January 5 Share Posted January 5 It was a good move for Wabash who own the land and are closer to the big lot neighborhoods in GOOF with less competition from Jonathan’s and the other heights nurserys and hardware stores. I agree the road is too busy. It will be getting building forward developments like south of 610. You already see that with Ibiza on shepherd apartments and the upcoming shoppes at shepherd. A ton of the scrap yards even further north are for sale. 1 Quote Link to comment Share on other sites More sharing options...
s3mh Posted January 5 Share Posted January 5 I would not be surprised to see an HEB. The one on Shep at 24th and 25th is overflowing with customers during busy times of the day and so is the one on Washington. There is going to be a lot more multifamily being built in the GOOF in the coming years as the Heights runs out of room. Quote Link to comment Share on other sites More sharing options...
goofy Posted January 5 Share Posted January 5 (edited) Issue is we’ve had retraction in Houston. Sprouts and Whole Foods cut stores, Randall’s is almost out of the game entirely. Too big for a TJ. A target is going up the other side of 610 and HEB is 8 minutes from here. There’s a Kroger deep in GOOF but it truly sucks. My DREAM is a central market. Edited January 5 by goofy 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted January 5 Share Posted January 5 12 minutes ago, goofy said: Issue is we’ve had retraction in Houston. Sprouts and Whole Foods cut stores, Randall’s is almost out of the game entirely. Too big for a TJ. A target is going up the other side of 610 and HEB is 8 minutes from here. There’s a Kroger deep in GOOF but it truly sucks. My DREAM is a central market. Where is Target going up? Quote Link to comment Share on other sites More sharing options...
goofy Posted January 5 Share Posted January 5 Search on haif. Shepherd and 26th area close to heb. 1 Quote Link to comment Share on other sites More sharing options...
sapo2367 Posted January 5 Share Posted January 5 Since I just did the search -- figured I'd save y'all the time 2 1 Quote Link to comment Share on other sites More sharing options...
hbg.50 Posted January 5 Share Posted January 5 1 hour ago, Houston19514 said: Where is Target going up? If Target will be nearby then what about Walmart? The nearest store is on Yale and I-10. Actually Walmart would be perfect for that location. Quote Link to comment Share on other sites More sharing options...
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