Jun 01
Houston retail firm Baker Katz has made another eastside acquisition with the purchase of Federal East Shopping Center 9 miles east of downtown.
“This highly visible property has been underutilized and is well-suited for redevelopment,” the company’s Neal Wade said Monday in a written announcement.
The 105,833-square-foot center is located off Interstate 10 just past Federal Road. Its tenants include the Fitness Connection, Pappas Meat Co. Avenue Stores, South Texas Dental Associates and H&R Block.
The company plans to make improvements to the center’s facade and bring new retailers to the property, though no new tenant names were provided.
Earlier this year the company said it was acquiring the Baytown Seafood restaurant at I-10 East and Haden near Uvalde with plans to demolish the building and construct a new retail center on the 30,000-square-foot site.
Increased real estate investment on the east side of Houston is a result of billions of dollars being spent on new petrochemical plants.
“There’s a sentiment that that side of the city is insulated from potential risks associated with economic contraction,” Baker Katz’s Kenneth Katz told the Chronicle last month.
Baker Katz specializes in project development and retail tenant representation.