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Mixed-Use to Replace Grocers Supply Warehouse

A mixed-use project is coming to the inner Loop, replacing a warehouse in an area that has quickly been transitioning away from its industrial roots in recent years.

Houston-based firms Capcor Partners and Kaplan Management bought a 15-acre tract of land at Studemont and Interstate 10 from Houston-based Grocers Supply Company Inc. for an undisclosed price, according to a statement from the developers.

The project will be composed of up to 400 upscale apartments as well as retail components, possibly grocers, movie theaters, restaurants and big box retailers.

“There is tremendous, continuous demand in this submarket,” said Josh Aruh, principal at Capcor, in a statement.

The site is located south of the Heights, north of the Washington Corridor and Montrose, and not far from Midtown and downtown. The area has seen an explosion of new multifamily projects in recent years as developers scramble to keep up with demand.

The site is also the epicenter for a major battle in Houston’s grocery wars. In late 2012, Cincinnati-based Kroger Co. (NYSE: KR) and Arkansas-based Wal-Mart Stores Inc. (NYSE: WMT) opened locations — on the same day — within a mile of each other just south of I-10 on Studemont and Yale, respectively. Since then, many other restaurants and retailers have opened their doors nearby, and developers recently started work on a 150,000-square-foot retail center next to the new Walmart.

Grocers Supply will occupy the site until it completes a new facility, which is expected within two years, the Houston Chronicle reports. The location has not been announced because Grocers Supply has not closed on the land yet.

“This site no longer suited the needs of Grocers Supply, particularly with the traffic along Studemont, which has increased significantly during the last few years,” said Avi Ron, also a principal at Capcor.

Grocers Supply — one of Houston’s largest private employers — has owned the land for 42 years. Earlier this year, Grocers Supply bought longtime customer Gerland Corp. The wholesale grocery distributor operates 15 distribution facilities and a fleet of more than 200 tractors and 850 trailers.

Olivia Pulsinelli is the web producer for the Houston Business Journal’s award-winning website. Follow her on Twitter for more.

 

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