Houston Rodeo lassos $42M chunk of Astroworld landHouston Rodeo lassos $42M chunk of Astroworld landhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=87452012-12-14T12:32:00Z2012-12-14T09:00:00Z

HOUSTON - The Houston Livestock Show and Rodeo has inked a deal to acquire about half of the long-vacant Astroworld property south of the 610 Loop adjacent to Reliant Park. The purchase price was $20.50 per sf, totaling $42.8 million.

Rodeo Houston will acquire 48 acres of the 92-acre tract of land owned by Fort Worth-based MHB Asset LP, also known as the Mallick Group.

The Mallick Group acquired the site in May 2010. Astroworld closed in 2005.

The land represents a long-term investment for the rodeo but will most likely be used immediately for additional parking for the 2013 show.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2012/12/13/houston-livestock-show-buys-42m-chunk.htmlRead more at {Source}

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