Greenspoint Mall to be sold, redeveloped

HOUSTON – A group of investors with Global Plaza Union is purchasing the Greenspoint Mall with plans to redevelop the property as a mixed-use project.

The transaction is expected to close within the next four months.

Sears, Macy’s, and Dillards own their department stores at the mall independently and must agree to sell the spaces before redevelopment begins.

Fen Gao, a Chinese real estate developer with WIT Union, is the primary investor in the development, which is his first project in the U.S.

Reggie Gray, investor and president of the Houston Intercontinental Chamber of Commerce, facilitated the transaction.

At over one million sf, the property at 12300 North Fwy. was one of the largest malls in the region when it opened around 40 years ago.