The firm plans to demolish all or most of the 1.2 million-sf mall and build a one million-sf open-air center on the property.
The mall, which is on 107 acres at the southwest corner of I-10 and Garth Rd., is currently 70 percent occupied and anchored by Macy's, JCPenny and Sears.
Fidelis expects it will take three years to prepare the mall for demolition and another two to redevelop the property.
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