Sherwin Williams Co. is joining the lineup in the newly delivered Harmony Commons Plaza in Houston’s Woodlands submarket, snapping up 35 percent of the latest retail project by noted Shogun Japanese Gill and Sushi Bar restaurateur, Qinnong “Bill” Hou.
The Fortune 500 company has leased a 4,000-square-foot end cap in the 11,207-square-foot development, a three-tenant building at the corner of the Grand Parkway/TX 99 and Harmony Commons Drive in Spring, Texas. Anchoring the project is a 6,024-square-foot Shogun Japanese Grill and Sushi Bar – Gyusho restaurant, which will open in mid-September.
“Bill has become a developer in his own right. Harmony Commons Plaza is his second project,” said Bob Conwell, senior vice president of Houston-based NewQuest Properties and Hou’s broker for 15 years.
Sherwin Williams is planning to open in the fourth quarter. Tami Pearson of Waterman Steele served as the tenant representative. Conwell and Austen Baldridge, a NewQuest vice president, represented the landlord of record, B&B North American Investments LLC.
Hou’s project at 3532 Harmony Commons Drive fronts the Grand Parkway and is part of a rapidly expanding commercial corridor just south of the Woodlands. The three-mile trade area boasts a population of 76,350 with an average annual household income hovering around $110,000.
Harmony Commons Plaza is shadow-anchored by an LA Fitness Signature Club and Spring Creek Market H-E-B grocery. Conwell and Baldridge have several prospects eyeing the remaining 1,183 square feet in Hou’s new development.
“It’s great real estate in what has become a suburb of the Woodlands,” said Conwell, adding that he sold the 1.2-acre site to Hou in 2017.
Hou, who holds a master’s degree in finance, is planning to put Harmony Commons Plaza on the market after it’s fully leased. “He’ll be able to sell this project at a really great cap rate, given its quality construction, credit-worthy tenants and location,” said Conwell, who along with Baldridge will list the property when it’s time.
Shogun has 23 locations primarily in the greater Houston area, each one offering a fine dining experience featuring traditional Japanese cuisine of sushi, hibachi, barbecue and ramen. The Cleveland-based Sherwin Williams, founded in 1866, has more than 5,000 stores and facilities operations worldwide.
“There were several retailers wanting that end cap. Sherwin Williams is a Fortune 500 company. It doesn’t get any better than that,” Conwell said.