Dec 21

PlazAmericas Mall has a new owner, for the most part

Nancy Sarnoff reports in the Chronicle that the former Sharpstown Center, more recently known as PlazAmericas has been soldto Houston commercial real estate firm Baker Katz. Well, most of it has: The purchase, she writes “does not include any of the attached anchor stores or the 10-story building that rises from the property.” The owner of the highrise, along with those of the former Montgomery Ward, JC Penny, and Macy’s buildings are all tied up in long-term agreements that’ll make it tough for Baker Katz to do much right now with the mall as a whole. On its agenda for now: increasing occupancy at the 840,000-sq.-ft. property, which now about 70-percent full,according to Sarnoff. [Houston Chronicle]

By Dan Singer,
Houston’s Real Estate Landscape – Swamplot
Read the Original Article HERE

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