Retail renewal From the cover
The conditions
How we got here
Regency leasing rates are not publicly available, but second quarter 2025 estimates from Caldwell Cos. show The Woodlands area rates exceed regional rates. Shelli Moran, owner of Cellar 24 in Sterling Ridge, said leasing prices have been a concern for her amid slowing foot tra c. Angela Colton, executive director of The Woodlands Children’s Museum in Panther Creek, said she feels the cost has been reasonable for the location, which it has occupied for 15 years.
desire from the comfort of their own home.” For Regency Centers, senior leasing agent Rip Reynolds said that means diversifying to nd the right tenants. In addition to Sprouts, Reynolds said ongoing discussions with prospects are underway with a tenant for the remaining anchor space in Panther Creek. Lease negotiations are also underway with a prospective tenant for 36,000 square feet at Sterling Ridge, he said. While he said he cannot disclose details about the tenant, he said it is in line with other uses previously found in the community. “In The Woodlands, we see opportunities beyond traditional grocers, including tness, medical and service-driven uses that still draw consistent tra c and support neighboring retailers,” Reynolds said.
Both Sterling Ridge and Panther Creek have seen the departure of anchor grocery stores in their village centers since 2020. Most recently, Kroger closed in Sterling Ridge in April. However, in Panther Creek, where a Randalls store closed in 2020, a Sprouts grocery store is slated to come in next year, according to information from Regency Centers. Craig Eissler, vice chair of The Woodlands Township board of directors, said the village centers were originally designed to serve the needs of residents, but the way those needs are served is evolving. “It seems that [the pandemic] ... really changed the habits of consumers and residents,” Eissler said. “The advent of the gig economy and delivery services has allowed residents to shop from any grocery store they
Q2 2025 rental rate estimates* Price per square foot
Year-over-year change
Panther Creek area Sterling Ridge area
$27.13-$39.88
+1.4%
$32.76
+1.3%
Serving The Woodlands villages
Montgomery County
$25.73-$26.46
+2.2%
Panther Creek Village Center
Houston region
$24.44
+1.6%
Area population: 60,714*
Average household income: $173,577*
*BASED ON ESTIMATES BY COSTAR GROUP FOR Q2 2025
Timeline:
W. PANTHER CREEK DR.
SOURCE: CALDWELL COS. COMMUNITY IMPACT
1977: Village opened 2020: Randalls closed September 2025: Recent openings include The Core Lab Q2 2026: Sprouts slated to open
N
Zooming out
Tenants include:
Other factors for businesses looking to open in The Woodlands to consider are local development standards for commercial properties, which are part of the township’s covenants and standards. Terry McBurney, owner of The Republic Grille in Panther Creek, said he feels the center will need to be updated and renovated to grow its appeal and attract tenants. Reynolds said the leasing company works with the township’s appointed Development Standards Committee to ensure the standards of the commu- nity are followed. Upcoming improvements planned at Panther Creek include new beams, paint and light xtures to improve the overall aesthetics, he said.
The Woodlands Children’s Museum Planet Fitness
Starbucks CVS The Republic Grille
A Randalls location closed in 2020.
PHOTOS BY VANESSA HOLT COMMUNITY IMPACT
Sterling Ridge Village Center
Area population: 71,209*
Average household income: $200,958*
P K
Timeline:
1999: Village opened April 2025: Kroger closed June 2025: Recent openings include Beem Light Sauna
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Design standards enforced Building materials, textures and colors Sign types, appearance and placement
Tenants include:
Landscaping and maintenance
Village Vet Beef Shabu
CVS Perry’s Grille Cellar 24
A Kroger location at Sterling Ridge Shopping Center closed in April.
*WITHIN A 10 MINUTE DRIVE
SOURCES: REGENCY CENTERS, THE WOODLANDS TOWNSHIP COMMUNITY IMPACT
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COMMUNITYIMPACT.COM
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