Lowe’s Opens 1st Houston Outlet Store

Lowe’s opened its first Houston outlet store at Champions Village. Image courtesy of First National Realty Partners

Lowe’s has opened its first Houston outlet store at First National Realty Partners’ Champions Village, a 383,346-square-foot shopping center. The retailer committed to 41,453 square feet at the property earlier this year.

Champions Village came online in 1979 on nearly 32 acres, according the CommercialEdge data. FNRP purchased the retail center last year from New Market Properties. The asset had previously changed hands in 2016 for $48.8 million, the same source shows.

Located in Houston’s Cypress West submarket, Champions Village serves around 300,000 residents within a 5-mile radius, with an average household income of $109,950, according to its marketing brochure. The center is located at the corner of 5215 FM 1960 Road W. and Champion Forest Drive, in an area where the daily traffic count reaches approximately 80,000 vehicles.

Tenants, old and new

Anchored by a 61,604-square-foot Randalls grocery store, the center also features multiple national and regional tenants including TJ Maxx, Bath & Body Works, Sport Clips, Bank of America, AT&T, Kirkland’s and Painted Tree. Randalls and Barnes & Noble have recently signed long-term lease extensions and FNRP is currently under negotiations with a national retailer to occupy the former 13,688-square-foot Tuesday Morning space.

The owner also signed Hibbett Sports and The Greasy Spoon, which are slated to open next year. This will be Hibbett’s seventh location within FNRP’s portfolio and the restaurant’s fourth location in the metro.

A national retail portfolio

FNRP currently owns some 10 million square feet of retail space across the U.S., according to CommercialEdge. In October 2022, the firm acquired three shopping centers—a 287,000-square-foot property in Manassas, Va., a 158,000-square-foot asset in O’Fallon, Mo. and a 268,000-square-foot grocery-anchored shopping center in Indianapolis.

At the end of last year, FNRP has also purchased a 586,000-square-foot grocery-anchored retail center in Las Vegas. Graystone Capital Advisors brokered the transaction which marked the buyer’s entrance in the Nevada market.