Party City, the nationwide chain store specializing in party supplies and costumes, will be opening a new location alongside Spec's Wines, Spirits and Finer Foods at the Four Corners Shopping Center in Tomball.
Located at the southeast corner of FM 2920 and Hwy. 249, the shopping center is being renovated by Baker Katz, a commercial real estate firm in Houston, which is also working to find tenants to fill some of the vacancies. Since taking on the project at the end of last summer, Baker Katz has brought four new tenants to the plaza, with two more leases expected to be signed soon, said Kenneth Katz, one of the firm's co-founders.
"I think we'll be able to look up in a week or so and say we've got six new leases," he said.
Facilities for the new Spec's and Party City are under construction, Katz said. He estimated that they will both be open some time this summer.
The Spec's and Party City will be occupying space that formerly housed a Kroger. The old Kroger space has been split into three separate parcels, Katz said. With Spec's and Party City taking two of them, one 14,000 square foot venue remains, in addition to other vacancies in the plaza that the City hopes to fill.
"The bigger leases are the ones people care most about, but we're working to bring in a number of smaller tenants as well," Katz said. "We're talking with several other regional and national retailers and restaurants."
Baker Katz finalized an agreement with the City of Tomball last September to help fund approximately $10 million in renovations. Baker Katz agreed to pay for the renovations in exchange for a portion of the additional sales tax revenue the plaza brings in over the next 13 years. Significant progress has been made on exterior renovations over the past few months and crews are focused on interior remodeling as new tenants prepare to move in.
Other projects that recently took place at Four Corners include the renovation of the Premiere Cinemas movie theater, which underwent major remodeling and added a seventh theater. Katz said he is glad to see the plaza, located at the entrance to the city, transform into something residents can be proud of.
"The City of Tomball really is investing a lot of resources and energy to make sure Tomball is a great place to live," he said. "One of the best ways residents can help is to shop at the local retailers. We're looking to get retailers that the Tomball community has been asking for."