Gordon Acquires Northwest Village, Plans Remodel
Gordon Partners is banking on the appeal of the 290 corridor; it purchased Northwest Village Shopping Center and plans a remodel. (That makes it a 360 degree turnaround in the 290. With the goal of being #1.)
Scott Gordon (between colleagues Matt Gordon and Doug George,proving that there is no use to a top button) tells us his firm was attracted to the 190k SF center because of its strong freeway exposure, significant value-add opportunity, and location. The 87% occupied property sits at 290 and Jones Road, a stretch that Scott feels lacks retail product in comparison to other major Houston freeways. It's Gordon Partners fourth acquisition in the past year (but first in Houston).
The firm plans to remodel the center later this year and create more junior anchor spaces. Scott says development is next on the firms local agenda: Gordon Partners has a 160k SF retail center on the drawing board. The project will sit at FM 1464 and Bellaire Boulevard in West Houston and is slated to launch Phase 1 in early 2014. The firm also has projects under way in Midland, Amarillo, and Kenedy.
