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North Houston’s growing City Place District signs on first financial Services Tenant; Edward Jones invests in the mixed-use Development with Street Level Branch Office

North Houston’s growing City Place District signs on first financial Services Tenant; Edward Jones invests in the mixed-use Development with Street Level Branch Office

May 18, 2020

City Place, a best-in-class urban mixed-use district anchoring Springwoods Village, has executed a lease for its first financial services tenant. Edward Jones, a Fortune 500 firm with more than $1.3 trillion in assets under care, will occupy nearly 1,400 square feet at street level in CityPlace 2. Slated to debut later this year at 1701 Lake Plaza Drive, it will join soon to open ground floor tenant Island Grill, plus the American Bureau of Shipping, which occupies the entirety of the remaining office space in the 10-story building.

Edward Jones was represented in the transaction by Amy Huster of Cushman & Wakefield. Nick Hernandez and Crystal Allen of Transwestern, along with Dennis Tarro of Patrinely Group, represented City Place, a joint venture of Patrinely Group, USAA Real Estate and CDC Houston.

Founded in 1922, Edward Jones puts a premium on personal service. Every aspect of the firm’s business, from the types of investment options offered to the location of branch offices, is designed to cater to individual investors in the communities in which they live and work. The branch-office business model allows financial advisors to discuss individual investment needs on a one-on-one basis and partner with clients for the long term to help keep them on track toward their goals. The firm’s investment philosophy – investing for the long-term in quality investments aligned with goals and risk tolerance – appeals to serious, long-term individual investors.

According to Robert Fields, President and CEO at Patrinely Group, “We welcome Edward Jones to City Place, which is perfectly suited to its branch model. City Place puts its financial advisors steps away from more than 18,000 daytime workers as well as an affluent residential base within Springwoods Village and nearby neighborhoods.”

“The addition of Edward Jones to the existing retail and services mix in our community reflects the accelerated development and continued maturation of our master plan,” said Warren Wilson, Executive Vice President, CDC Houston. “We are very pleased with the progress CityP lace, the urban core of Springwoods Village, is making toward becoming an important weekday and weekend destination in north Houston.”

Recent City Place launches range from specialty retailer Focus Optical plus a two-story, 38,000-square-foot 24 Hour Fitness to Star Cinema Grill dine-in theater with 10 screens and a central bar/lounge. In addition to Island Grill, future CityPlace tenants include Common Bond Bistro & Bakery, Bread Zeppelin Salads Elevated and Sushi Rebel.