Market briefs
Village Lease: Japanese Bookstore Locks
In Houston, Kinokuniya Books, a Japanese bookstore founded in Tokyo nearly a century ago, is expanding in Houston with new store in the Village.
Kinokuniya will take over the former Village Fitness location at 2369 Rice Blvd. this fall, as stated by retail brokerage firm NewQuest. Village Fitness recently closed after nearly three decades of operation in the pedestrian friendly historic shopping district.
In addition to books, magazines, comics and graphic novels, Kinokuniya sells stationery and gifts. The Rice Boulevard store will be just a couple of blocks west of Rice University, near the corner of Morningside Drive.
“Kinokuniya will be a tremendous addition to the Village, given its proximity to Rice University and the neighborhood’s reputation as one of Houston’s most walkable and community-oriented destinations,” said Heather Nguyen, founder of NewQuest’s Asia Pacific Advisory Services division. “The bookstore aligns perfectly with the area’s culture of learning, discovery and appreciation for literature.”
Kinokuniya signed a 5,582-SF lease with landlord David K. Gibbs Associates in an off-market transaction, as stated by NewQuest. Heather Nguyen and Rebecca Le of NewQuest’s Asia Pacific Advisory Services represented the tenant, while Will Roberts represented the landlord in-house.
The new bookstore will fill a gap in Village retailing since the departure of Half Price Books in 2020 after 38 years on University Boulevard.
Nguyen assisted Kinokuniya with opening its first Texas store at NewQuest’s Katy Grand development in 2019. The retail center at the Katy Freeway and the Grand Parkway has become a hotspot for international brands including Miniso, Tim Ho Wan, Haidilao Hot Pot, and 85°C Bakery.
“Kinokuniya typically has just one store per city, but the Katy location is doing particularly well so they wanted another one,” Nguyen said.
Based in Tokyo, Kinokuniya now operates more than 80 bookstores in the Asia Pacific region, United Arab Emirates, Australia, and the U.S. Founded in 1927, the company first expanded internationally to San Francisco in 1969.
