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Mihir Mody is Chairman, CEO and founder of ModySpace, a Houston based commercial retail real estate development and property management firm.
Mihir Mody made his move into real estate in 2002 and started collaborating with local authorities to reinvent the urban look and feel for community projects. Contrary to most real estate firms, Mody Real Estate develops and manages only self- owned land and properties.
Today, ModySpace owns and manages over 300,000 square feet of retail space.
Arlington
4245 South Cooper,
Arlington, TX 76015
Total Area Space: 8650 Sq. Ft
Parking Space: 49
Baybrook
1520 West Bay Area Blvd.,
Houston, TX 77546
Total Space Area : 11,818 Sq. Ft.
Parking Space: 78
Dallas
1344 Round Table Dr,
Dallas, TX 75234
Highland Park
4350, N. Central Expressway
Dallas, TX 75206
Total Space Area: 8,815.9 Sq. Ft.
Parking Space: 31
Hillcroft
3218 Hillcroft,
Houston, Texas 77036
Total Space Area: 10,640 Sq. Ft.
Parking Space: 25
Lake Pointe
1531 State Highway 6,
Sugar Land, TX 77478
Total Space Area: 24,018 sq-ft
Parking Space: 1st Floor-76, 1st Floor-67
Mumbai
Casa Modia, Plot D 28/7,
TTC, MIDC, Industrial area,
Turbhe, Dist. Thane - Navi Mumbai
Total Space Area: 7965 sq-ft.
Parking Space: 16
River Oaks
2702 Westheimer Rd,
Houston, TX 77027
Total Space Area: 7000 Sq. Ft.
Parking Space: 13
Southlake
111 S Village Center Drive,
Southlake, TX 76092
Total Space Area: 13,010 Sq. Ft.
Parking Space: 92
Sugar Land
16000 S. W. Freeway,
Sugar Land TX 77478
Total Space Area: 13,882 Sq. Ft.
Parking Space: 71
Upper Kirby
2110 Richmond Ave.
Houston, Texas - 77005
Total Space Area: 13,163 Sq.Ft.
Parking Space: 42
WestLoop 610
North of Westheimer
Houston, TX 77027
Total Space Area: 105,480 sq-ft.
Parking Space: 225
West University
2522 Bissonnet,
Houston, TX 77019
Total Space Area: 3800 Sq. ft.
Parking Space: 5
Willowbrook
7927 F.M 1960 West,
Houston, TX 77070
Total Space Area: 8061 sq-ft.
Parking Space: 34
CBRE's Q2 retail market report showed some extremely encouraging signs. Houston's retail market had the strongest absorption in a single quarter since Q4 2007. Over 1.5M SF was soaked up, more than the annual absorption in 2010, 2011 and 2012 combined.
The retail pipeline is packed. 3M SF of retail product is underway, with the majority in the far north, far northwest and far west submarkets. The pipeline only represents 1% of total inventory. Additionally, the new projects are pre-leased at a whopping 85%.
Occupancy has climbed to a new historical high at 94.2% in the overall market, with Class-A space coming in even higher. As developers move forward with plenty of speculative construction, demand must continue to grow to keep up the historical rates.
Mihir Mody is Chairman, CEO and founder of ModySpace, a Houston based commercial retail real estate development and property management firm. He is also the President, Chairman and CEO of two other Houston based companies, Mody & Mody and MODIA. Mody & Mody is an architectural and interior design firm that offers interior design services including retail sales of home furniture along with custom kitchens and bathrooms. MODIA is an upscale custom electronics retailer for residential and corporate/public arena projects.
A graduate of the University of Houston, Mihir taught as an assistant professor in the field of chemistry after graduating, while at the same time founding his first startup business.
At the age of 18, while still in college, Mihir Mody established his first electronics retail store in southwest Houston. An entrepreneur to the core, he made his first million while was still in college. He converted that to a turnover of $40MM before he turned 21. Mentored by the famous Antonio Citterio, an Italian industrial designer/ architect from Milan, he was an eager student and has brought the Italian and European flair to his designs. Italian interiors have been the inspiration for many Mody designs. This additional design aspect of his profile is a great asset to the entire portfolio of services that the three businesses offer as he creates his own designs for his shopping centers and custom-made spaces for client establishments.
The retail and interior fashion businesses have had a meteoric rise under his leadership with customer collaborations with American Airlines Center, Dallas Cowboys, Toyota Center, AT&T, and Clear Channel Communications among others. The MODIA Board Room at the American Airlines Center in the Platinum Level is a signature project that was created for Mark Cuban, the owner of the Dallas Mavericks. Additionally, the Texas Governor’s Mansion has been furnished with the best in high-end technology by MODIA.
Famous athletes such as Lance Berkman, Brenden Morrow and Mike Modano along with real estate tycoon Gerald Hines are among MODIA's customers. The business has earned a reputation for serving the crème de la crème with signature technology installations for the home and office.
MODIA stores are located in Houston, Dallas & Austin. In 2007 MODIA was awarded the #1 Custom Retailer award in electronics and since then it has retained its position among the top five independent electronics retailers in North America. MODIA has been recognized among the top 100 firms for the highest retail electronics revenue in the country multiple times in the last decade including 2013. Most recently MODIA was awarded the Retail Excellence Award by DealerScope magazine in August 2014, which was an encore from 2012 awarded by TWICE magazine.
ModySpace owns and manages over 300,000 square feet of retail space.
In addition to his role as the Chairman of the board of his own companies, Mihir Mody is on the Board of a publicly traded company. He also serves on a Business Development Board of a local bank among other significant affiliations. A philanthropist at heart Mihir Mody believes in giving back to the community, and with that in mind he is the trustee and Grand Benefactor in three different non-profit organizations. He has more than 27 years of experience in business including retail sales, commercial real estate, community redevelopment and civic leadership.
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