The perception: Houston is oversaturated with general dentistry offices. However, opportunities remain in even the most desirable areas.
To find those areas, you’ll have to follow the trends.
Houston is experiencing rapid growth both in new residents and real estate. Approximately 159,000 people made Houston, The Woodlands, and Sugar Land their new home, and Pearland was the seventh fastest growing city in the nation in 2015.
In 2016, more than 5.5 million square feet of new retail space was built in Houston and more than 3 million square feet is under construction, according to CoStar.
These two growth factors create opportunities for dentists who want to open a start-up practice. But, that window could close quickly, and we recommend dentists start searching for an office 12-15 months before they want to open their doors.
Where are the dental real estate opportunities in the coveted communities of Houston?
In residential development, Cane Island at Franz Road and the new Cane Island Parkway is a 1,000-acre master-planned residential community of more than 2,000 new homes with lakes, walkways, piers, a café, and a yoga studio.
Travel four miles east on Franz Road and cross the Grand Parkway (SH 99), you’ll find Grand Morton Town Center. It opened Kroger Marketplace in October and Walmart is soon to follow. Kroger Marketplace will be the first grocery store in a three-mile area to serve 23,933 single-family homes, according to Covering Katy.
From Cane Island, travel south on Cane Island Parkway to I-10 (Katy Freeway) where Buc-ee’s is scheduled to open one of its largest stores in summer 2017.
A new three-phased developed, The Shoppes at Parkwest, are under construction next to Memorial Hermann, near Costco, Walmart, Main Event, and located off I-10. Phase I and II are open and Phase III will follow in 2Q 2017.
Interested in touring available dental offices in Katy, Texas? Contact me and we’ll discuss open opportunities.
2. Sugar Land
Riverstone is a 3,700-acre master-planned community with 6,000 homes (single-family, multi-family, townhomes, and patio homes) and approximately 18,000 residents over the next four years, according to the development’s website. The community also features a waterpark and splashpad, fitness center, tennis courts, playground, dog park, fishing pier, and walking trail.
Near the clubhouse and waterpark, Riverstone Shopping Center is under development. Located at University Boulevard and LJ Parkway, the shopping center is next to Houston Methodist Primary Care Group, across from CVS Pharmacy, in front of 351 multi-family units that will open this year, and near additional retail, day care, and medical offices that will open in early 2018.
Curious to learn the dental competition ratio in Sugar Land, Texas? Contact me for the 3-mile trade area data and dental demographics.
3. The Heights
The Heights is undergoing a surge in popularity due to its proximity to downtown, historic charm, and reinvestment in the community.
In 2016, a prohibition in the area was lifted and that’s helping to drive retail growth. H-E-B is planning on opening a two-story, 80,000 square-foot store in early 2018. 365 by Whole Foods Market is under construction at 610 N Loop and Yale Street in Garden Oaks.
Texas Children’s Pediatrics Heights is relocating to 2200 Yale Street, and a Texas Children’s Urgent Care will be next door. Both facilities are scheduled to open in early 2017, according to the Houston Business Journal.
Dr. Tony Tran opened his office Discover Dental in The Heights last year. Take a tour of his office at Studewood and East 11th Street.
4. Montgomery County
Between The Woodlands and Lake Conroe sits the 3,000-acre mixed-use, master planned community Woodforest. Opened in 2009, Woodforest is already home to 4,000 people and is growing by about 500 new homes each year. By 2020, when the community is fully developed, Woodforest will have 4,800 homes, 400 apartments, and 10,000 residents, according to the Chronicle.
Approximately 90 acres will be devoted to commercial real estate. The first on-site school, Jean E. Steward Elementary School, opened in August 2014 as part of Conroe ISD. A United Methodist Church, Kiddie Academy, CVS Pharmacy, Children’s Lighthouse, and Woodforest National Bank have opened or are set to open soon. A community hospital, grocery-anchored retail center, and a gas station have been proposed, and many more commercial spaces remain available.
Are you interested in seeing the retail spaces that are suitable for dentists? Contact me and we’ll discuss the dental office space opportunities in Woodforest.
Pearland is one of the fastest growing cities in the U.S.
The Ivy District, at Beltway 8 and SH-288, will be a 48-acre mixed-use development with luxury residential options and 800,000 square feet of retail, hotel, and office space.
The vision is intended for young professionals and technology workers who seek to live and work in a mixed-use, walkable, transit-friendly, and urban district, according to the development’s website. However, The Ivy District is also building a Continuing Care Retirement Community with assisted living, memory care, and nursing care options.
The development is 10.5 miles from the Texas Medical Center, and within 1 mile of Pearland’s healthcare corridor with Memorial Hermann Pearland Hospital, Kelsey-Seybold Clinic, and HCA (Pearland Medical Center).
The Ivy District is currently in the construction phase, which means now is a great time to explore this option for your dental practice. Contact me and we’ll discuss if this opportunity meets your needs.
What is the next hot market in Houston?
We’ve explored the known most desirable areas in Houston, but what’s the next hot market? What area will quickly gain popularity over the next few years?
New Caney, TX.
We believe in the near future we will begin to see real estate developers take interest in East Montgomery County, specifically New Caney, due to new infrastructure.
SH 99 (Grand Parkway) now connects I-45 to U.S. 59 (I-69) and will continue to U.S. 90 and I-10.
New Caney, home to approximately 20,000 residents, will see more commuters and increased traffic counts because of the improved accessibility. The town has plenty of land for development, which will catch the eyes of commercial and residential real estate developers.
SH 99 makes Spring and The Woodlands an easy 15- to 20-mile drive from New Caney, and allows travelers to go around Houston instead of downtown.
If you’re looking to get ahead of the game, establish your dental practice and reputation, let’s discuss the possibility of New Caney. Contact me to learn more about this town.