Cypress Retail Development: Organic Grocer to Anchor

In Houston, With strong leasing momentum including a commitment from a national organic grocer, Trademark Property Co. is preparing to break ground on a collection of retail buildings in the Dunham Pointe large-scale planned community in Cypress this summer.

Trademark, which is working with Dunham Pointe Development, reported upcoming tenants in the 25-acre Dunham Pointe retail village that will soon take shape on Mason Road south of Highway 290.

A yet to be disclosed organic grocer will anchor the project, as stated by Trademark. Other planned tenants include Shake Shack, a national junior fashion anchor, Amorino Gelato, Milkshake Factory, and Pokeworks. An organic grocer would add a new option to the neighborhood, which is just across the freeway from Fairfield Market H-E-B.

Dunham Pointe will break ground this year. Trademark Property Co. courtesy rendering.

Planned for 206,000 sq ft of grocery, restaurant, and retail space, the lifestyle center is part of the 1,300-acre Dunham Pointe community being developed by former ConocoPhillips executive Archie Dunham. The community, which is east of the Grand Parkway about 30 miles northwest of downtown Houston, will have about 2,500 custom homes upon completion. Home sales began in 2021.

Trademark reported signed leases with six tenants for 35,000 SF, and current negotiations with more than 12 tenants totaling 65,000 SF. Ten additional retailers have signed letters of intent.

Pent-up demand

“We have never seen pre-leasing demand this strong at any other project. Retailers are actively looking for well-located projects in affluent growing trade areas, and we’re seeing that play out at Dunham Pointe,” said Terry Montesi, CEO of Trademark. “There has been very little new retail supply delivered since 2009, which has created significant pent-up demand from both national brands and emerging concepts.”

As is the case with Dunham Pointe, new Houston retail developments are opening with many of the spaces already leased. That has kept Houston retail occupancy high, currently 95%, as stated by commercial real estate firm Weitzman.

Fort Worth-based Trademark is behind Market Street in The Woodlands, a multi-use destination with nearly 400,000 SF of retail, including 15 restaurants and an H-E-B store. The company was tapped to lease LaCenterra at Cinco Ranch, a 412,900-SF open-air retail center in Katy, and previously worked on a Rice Village assignment several years ago.

Dunham Pointe is envisioned as a walkable retail destination. Trademark Property Co. courtesy rendering.

Finding the perfect mix

The Dunham Pointe retail village will serve an affluent area where new homes start in the mid $400,000s. Bridgeland, one of suburban Houston’s most active communities for homebuilding, is nearby.

“As we continue to build out the tenant mix at Dunham Pointe, our focus is on curating the perfect mix of retailers and restaurants to serve the growing community,” said Daniel Goldware, senior vice president of leasing at Trademark. “Dunham Pointe will be a walkable, amenity-rich destination that encourages people to stay longer and return often.”