North Houston’s growing CityPlace District signs on first financial Services Tenant; Edward Jones invests in the mixed-use Development with Street Level Branch Office
HOUSTON, TX – May 18, 2020 – CityPlace, a best-in-class urban mixed-use district anchoring Springwoods Village, has executed a lease for its first financial services tenant. Edward Jones, a Fortune 500 firm with more than $1.3 trillion in assets under care, will occupy nearly 1,400 square feet at street level in CityPlace 2. Slated to debut later this year at 1701 Lake Plaza Drive, it will join soon to open ground floor tenant Island Grill, plus the American Bureau of Shipping, which occupies the entirety of the remaining office space in the 10-story building.
Edward Jones was represented in the transaction by Amy Huster of Cushman & Wakefield. Nick Hernandez and Crystal Allen of Transwestern, along with Dennis Tarro of Patrinely Group, represented CityPlace, a joint venture of Patrinely Group, USAA Real Estate and CDC Houston.
Founded in 1922, Edward Jones puts a premium on personal service. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The branch-office business model allows financial advisors to discuss individual investment needs on a one-on-one basis and partner with clients for the long term to help keep them on track toward their goals. The firm’s investment philosophy – investing for the long-term in quality investments aligned with goals and risk tolerance – appeals to serious, long-term individual investors.
According to Robert Fields, President and CEO at Patrinely Group, “We welcome Edward Jones to CityPlace, which is perfectly suited to its branch model. CityPlace puts its financial advisors steps away from more than 18,000 daytime workers as well as an affluent residential base within Springwoods Village and nearby neighborhoods.”
“The addition of Edward Jones to the existing retail and services mix in our community reflects the accelerated development and continued maturation of our master plan,” said Warren Wilson, Executive Vice President, CDC Houston. “We are very pleased with the progress CityPlace, the urban core of springwoods Village, is making toward becoming an important weekday and weekend destination in north Houston.”
Recent CityPlace launches range from specialty retailer Focus Optical plus a two-story, 38,000-square-foot 24 Hour Fitness to Star Cinema Grill dine-in theater with 10 screens and a central bar/lounge. In addition to Island Grill, future CityPlace tenants include Common Bond Bistro & Bakery, Bread Zeppelin Salads Elevated and Sushi Rebel.
About CityPlace Springwoods Village
Ideally situated at the axis of the Grand Parkway, Hardy Toll Road and Interstate 45, north Houston’s CityPlace is a thoughtfully designed and fully-integrated, mixed-use development spanning 60 acres in the heart one of the country’s most rapidly expanding corridors. A vibrant, new destination for the area, CityPlace serves as the urban and walkable commercial center of Springwoods Village, a sustainable 2,000-acre master-planned community that is home to corporate campuses, including ExxonMobil. Enhancing CityPlace’s growing roster of businesses, plus retail and dining offerings, are premier amenities ranging from programmed, waterfront green space and miles of trails to an AAA Four Diamond Marriott hotel, 342-unit luxury apartment building, 10-screen Star Cinema Grill dine-in theater and the 38,000-SF 24 Hour Fitness super sport club. For more information, please visit www.cityplacespringwoods.com.
About Patrinely Group, LLC
Patrinely Group is a national real estate investment, development and management firm focused on large scale, Class A mixed-use, office and multifamily properties in major markets. Recognized as a leader in real estate development since 1983, Patrinely Group has completed $10 billion in transactions and is experienced with all real estate asset classes. For more information, visit www.patrinelygroup.com.
About USAA Real Estate
The mission of USAA Real Estate is to strengthen the profitability and diversity of the USAA investment portfolio and those of its investor clients by acquiring, developing, financing and managing quality real estate investments. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. Visit www.usrealco.com for more information.
About CDC Houston
CDC Houston, Inc. (a subsidiary of Coventry Development Corporation, New York) is an experienced land developer with expertise in creating mixed-use urban communities that foster smart and responsible growth for commercial and residential vitality. Coventry has provided development services for mixed-use projects in New York, Colorado, Texas, Florida and Guam over its 55+ year history. For more information on CDC Houston, Inc.’s latest project, Springwoods Village, please visit: www.springwoodsvillage.com and connect on Facebook and Twitter.
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