Houston's 352,000-SF Marq*E entertains new ownerHouston's 352,000-SF Marq*E entertains new ownerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=38762014-06-18T07:42:00Z2014-06-18T07:40:00Z

HOUSTON - The 35-acre Marq*E Entertainment Center property at 7620 Katy Fwy. has been purchased. The 351,811-sf shopping center, built in 1999, is about 95 percent occupied and houses Edwards Cinema, Dave & Buster's and LA Fitness.

Other tenants include Bank of America, Chick-Fil-A, Cafe Adobe and Red Robin.

The previous owner, a joint venture between Los Angeles-based Canyon-Johnson and Houston-based Fidelis Realty Partners, completed a $15 million renovation of the property in 2011. The group had purchased the center in 2006, when it had fallen on hard times after serious crimes occurred there.

A 50,000-sf section of the development was demolished to make the property more open and increase visibility to the stores and restaurants. In addition, more parking was added.

The joint venture put the property on the market about a year ago. The buyer, a group affiliated with Levcor Inc., has not discussed plans for the site moving forward.

Read more at the Houston Chronicle.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.houstonchronicle.com/business/real-estate/article/highly-visible-shopping-center-trades-hands-5556841.phpRead more at {Source}

 Search NewsTalk Texas