NewQuest Properties is adding Texas Regional Bank to the 2.5-msf lineup in Brazos Town Center, signing a financial institution in expansion mode to backfill a Fortune 500 firm’s closed branch.
Brazos Town Center’s Phase II will be the third location in Greater Houston for Texas Regional Bank. The privately owned institution has leased a 3,795-sf building on a 0.98-acre (42,931 sf) pad site, developed in 2013 by Capital One and vacant less than six months.
Situated at the crosshairs of FM 762 and US Hwy. 59 in Rosenberg, Brazos Town Center is the third most-visited power center in the state, logging more than 9.5 million customer visits in five months. Texas Regional Bank has scooped up a site at a signalized intersection and close to Phase II’s anchors, Kroger, JC Penney and Academy Sports + Outdoors.
“We had a lot of activity on this vacancy, particularly from restaurateurs. A bank taking over another financial institution’s building just makes good sense,” says Nina Irwin, senior leasing representative for Houston-based NewQuest Properties. She represented the landlord in the direct deal.
Texas Regional Bank will be the second financial tenant in NewQuest’s second phase and sixth in the entire project. A Q2 opening is anticipated.
NewQuest has seated Brazos Town Center with a world-class collection of shopping, dining and entertainment at the bull’s eye of Rosenberg’s super-regional destination trade area. The first phase is fully leased and the second is 99.8%.
“It was a quick deal,” Irwin says. “The bank came to us and inquired about the vacancy.”
Texas Regional Bank, headquartered in Harlingen, has branches in Memorial and Louetta, opening the first in 2021. The company’s expansion plan is focused on bringing a locally owned, relationship-style financial institution to communities throughout the region.
SOUTH TEXAS LEASES
Texas Regional Bank has leased a 3,795-sf former bank building on a 0.98-acre pad site in Brazos Town Center Phase II, located at the intersection of FM 762 and US Hwy. 59, Rosenberg, from NewQuest Properties. Nina Irwin of NewQuest Properties represented the landlord in the direct deal.
Shipley’s Do-Nuts has leased 1,500 sf of retail space in Sheldon Forest Shopping Center, located at the intersection of Interstate 10 and Sheldon Road, Channelview, from Sheldon Forest Retail Partners LLC. . Nina Irwin of NewQuest Properties represented the landlord. James Weaver of Arena Realty Advisors represented the tenant.
NewQuest Properties, founded in 2001, is a privately owned, full-service commercial real estate firm specializing in development, land brokerage, leasing, tenant representation, investment sales and property management services. Headquartered in Houston, NewQuest owns a portfolio encompassing more than 100 retail and mixed-use projects exceeding $2.3 billion in value and provides leasing services for more than 12 million square feet of commercial space in Texas, Louisiana, Arizona, Georgia and throughout the U.S.
