HOUSTON – (Realty News Report) – Qinnong “Bill” Hou, owner of Shogun Japanese Grill and Sushi Bar, has expanded his restaurant footprint across Greater Houston with 23 dining locations.
Now Hou has added shopping center development to his portfolio, taking on the role of developer in addition to restaurateur and chef.
“Bill has become a developer in his own right,” said Bob Conwell, senior vice president of Houston-based NewQuest Properties and Hou’s broker for the past 15 years. “Harmony Commons Plaza is his second development,” he added, noting that the center includes Hou’s 23rd Greater Houston restaurant, which offers traditional Japanese cuisine including sushi, hibachi, barbecue and ramen.
The 6,024-square-foot Shogun Japanese Grill and Sushi Bar — operating under the Gyusho name — is scheduled to open in mid-September and will serve as the anchor tenant for the retail center located in Spring, Texas, within The Woodlands submarket.
Hou’s new development at 3532 Harmony Commons Drive fronts the Grand Parkway and sits in a rapidly growing commercial corridor just south of The Woodlands. The three-mile trade area surrounding the site has a population of about 76,350 and an average annual household income near $110,000, making it an attractive location for retail and dining concepts.
Harmony Commons Plaza is shadow-anchored by an LA Fitness Signature Club and a Spring Creek Market H-E-B grocery store. Sherwin-Williams has leased a 4,000-square-foot end cap within the 11,207-square-foot shopping center. Conwell said he and NewQuest vice president Austen Baldridge have multiple prospects interested in the remaining 1,183 square feet of available space in Hou’s retail development.
“It’s great real estate in what has become a suburb of The Woodlands,” Conwell said, noting he sold the 1.2-acre site to Hou in 2017. Hou, who holds a master’s degree in finance, plans to market Harmony Commons Plaza for sale once the property is fully leased. “He’ll be able to sell this project at a really solid cap rate, given its quality construction, creditworthy tenants and prime location,” Conwell said. He and Baldridge will handle the listing when the time comes.
Sherwin-Williams’ lease covers 4,000 square feet for a paint store at the center. Tami Pearson of Waterman Steele served as tenant representative, while Conwell and Baldridge represented the landlord of record, B&B North American Investments LLC.
Sept. 1, 2020 Realty News Report Copyright 2020
File: Shogun Japanese Grill and Sushi Bar
