Retail and commercial development is on the upswing in Cy-Fair with several projects underway or planned for 2015. As developers continue building new single-family homes in Cypress and across the Greater Houston area, grocery-anchored projects are expected to become a long-term trend to serve new incoming residents, said Analee Micheletti, research analyst with Houston-based commercial real estate firm CBRE Group Inc. "Grocery anchors are coming to underserved areas as more single-family projects move to the outer rings of the city," she said. "Residents need places to shop, and that's what is driving retail development in the suburban [areas]."

Up-and-coming projects

Commercial real estate firm Read King will develop the Miramesa Town Center at the corner of Fry and West roads with a 189,000-square-foot Super Wal-Mart expected to open by summer 2016 in the northwest corner of the intersection. "We actually control all four corners and will develop in-line retail and junior box [stores] at that intersection," said Christie Amezquita, senior vice president of leasing with Read King. "We're looking for sit-down restaurants and fast-food users, and our in-line tenants will be businesses like dry cleaners, nail salons, shoe stores, boutiques and things of that nature." Amezquita said retail projects are typically the last thing to develop following a down market, explaining why a lot of commercial and retail projects have come online in recent months. "Because there has been so much new residential development going on, retail follows residential [growth]," she said. "Retail developers are going on tracts in front of neighborhoods and building shopping centers. There's a need for that with these new neighborhoods." The Miramesa Town Center project is still in the design phase, so the exact size of the project is changing, but in-line retail can range from 10,000–20,000 square feet. Junior box stores and fast-food pad sites can vary in size, Amezquita said. Construction is expected to begin this summer on the new development. Read King is also handling the leasing for a third party project, Lone Star Market, developed by Caldwell Companies near Barker Cypress and West roads. Starbucks and a dentist office have signed leases in the building and are expected to open in the third or fourth quarter of 2015. Another grocery-anchored development, Fairfield Marketplace, is under construction at the southwest corner of Mason Road and Cypresswood Drive with a 180,000-square-foot Kroger Marketplace, expected to open in September or October. "We think [this project] is a great opportunity for Kroger and for ourselves," NewQuest Properties leasing agent Bob Conwell said. "To us, it's a home run because you've got 5,800 homes behind us in [Fairfield]." A number of additional retailers and dining tenants will fill in space on the 21-acre site. NewQuest is negotiating with Russo's New York Pizzeria, Wendy's, Vision Source, and TH Salon, while Postal Plus, a dentist office and dry cleaner have already signed leases, Conwell said. Fairfield Marketplace will also feature a two-story, 2,500-square-foot medical professional building. Newquest is working with several medical users to fill the space. "We think Fairfield is [underserved by restaurants]," Conwell said. "People are driving to Spring Cypress [Road], which is a good option, but we think it's the perfect opportunity. The one fast-food pad is the Wendy's, but we are really looking for sit-down restaurants. We want some national restaurants or high-quality local operators."