Braun Enterprises is about to make history pay - again.
The Houston real estate company said it will soon open its redevelopment of 3100 Fannin in Midtown after signing several major retail tenants. The property at the northwest corner of Elgin is the latest of more than 35 older, close-in properties Braun has rehabilitated into retail and restaurant space since redeveloping Yale Pharmacy in the Heights in 2007.
Other projects include Harolds in the Heights, the former Byzantio restaurant on West Gray and several recent developments in the Timbergrove, Lazy Brook and Garden Oaks neighborhoods.
"We like buildings that have character, especially in the neighborhoods where maybe they're lacking something," said Braun leasing director Zach Wolf. "You have this major influx of apartments, and there hasn't been much new retail to support all these people moving into the area."
Braun said it has landed Verizon, Title Boxing Club and a location of the barber shop chain Bishops as initial tenants in its upcoming Midtown redevelopment.
The 16,000-square-foot building will feature retail shops on the first floor and offices on the second floor. Braun will move its headquarters to the building by March or April.
Alan Pike, a franchise owner of Bishops, a unisex barbershop founded in Portland, Ore., in 2001, plans to open the first of three Houston locations there around June. Bishops aims to provide an experience, with amenities like local art, cutting edge music and free beer, along with hair cut and color services, Pike said, and operating in a building that preserves Houston's past will add to that experience.
The Midtown Superblock Park, three acres of greenspace in the heart of the neighborhood, is nearby, he added, as is a mixed-used development at 3120 Smith Street, which will include apartments and a Whole Foods Market. Caydon, an Australian company, is developing a high-rise residential building in the neighborhood.
"I wanted an urban location," Pike said, "near where Houston is re-inventing itself into a walkable, neighborhood-oriented community, served by rail and where there is a wide age range of customers - teens, adults, older adults - all from different countries, backgrounds, religions, orientations."
The next locations will likely open in the downtown and Heights/Washington Heights areas in late 2018 or early 2019, Pike said.
Braun said the first retail tenants are expected to open in the next 90 days. Verizon has started building out its store.
Braun Enterprises has just over 1,000 square feet of retail space still available for lease and is targeting coffee shops or upscale cocktail bars.
After Braun moves into the Midtown property, it will have about 5,100 square feet of office space available for lease. The company is moving from another redevelopment at 3217 Montrose. It sold that building, which houses Snooze restaurant, in 2014 shortly after finishing the project.
Braun's portfolio also includes industrial and office properties. A Braun-led partnership recently purchased 5757 Woodway near the Galleria.