May 5

Baker Katz purchases Foodarama building

The Foodarama at 18th Street and Ella Boulevard, part of a locally owned, privately held Texas-based company with 10 grocery stores throughout Houston and the surrounding areas, has long been a go-to for necessities. Now, the recent purchase of the building by Houston-based commercial real estate firm Baker Katz will close the store by 2022 to make way for a new development.

Baker Katz purchased the property from Bayview Associates in care of Kin Properties Inc. The deal closed April 5. The terms of the deal were not disclosed, according to a news release.

In 2016, Baker Katz purchased the other 12,800 square feet of the retail center. The purchase of the remaining 34,748 square feet will allow the company to redevelop the property as a whole.

“Adding the remaining square-footage of this highly visible shopping center to our portfolio is something we’ve wanted to do for quite a while,” Kenneth Katz said in the release. “Since acquiring this initial space in 2016, we’ve been diligent about planning for the long-term vision of this retail center and how it can be repositioned to be serve shoppers in the area. The shopping center is surrounded by growing neighborhoods including Timbergrove, Lazybrook and the Heights and the eventual transformation of this center will provide residents with even more excellent retail options.”

Katz said Foodarama’s lease ends later this year, but there is a chance it will remain there until early 2022.

“There is no time frame yet established for renovations,” he said.

Foodarama recently made the news in February during Houston’s snowstorm when it opened without power. As one grateful Yelp reviewer said: “They didn’t have a cash register, so they had to guess at prices, and it was ‘cash only.’ No one shopping cared. We were able to get water for our families. Thank you being a great neighbor and for being human. You saved the day.”

A representative for Foodarama was unavailable for comment.

By Betsy Denson
The Leader. Online

Read the Original Article Here

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