Marq*E Entertainment Center lands new $68 million loan
JLL’s Capital Markets group has lined up a $68 million loan on behalf of Levcor to refinance the Marq*E Entertainment Center at Interstate 10 and Silber Road, just west of Loop 610.
The floating rate loan, which was provided by LoanCore, will provide funding to recapitalize the existing debt and continue to upgrade and improve the property. Developed in 1999, the Marq*E center was subsequently redeveloped to create an open-air theme. A parking garage was added in 2003.
The center is 94 percent occupied. Tenants include Dave & Buster’s, L.A. Fitness, Edwards Cinema, Chick-Fil-A, Bank of America and Panda Express.
Jimmy Board, Tom Melody, Tom Fish and Wes Wallace of JLL represented Levcor in the transaction.
“The Marq*E center has consistently remained a stable asset and draws in crowds from across the city,” JLL Managing Director Jimmy Board said in an announcement. “The property has previously been reconfigured and redeveloped to great success, and Levcor’s future plans to further enhance the site will be great for the tenants and the surrounding community.”
Pretty Little Things Boutique, a Houston women’s clothing and accessories store owned by Nikole Christian, will open a second location at Redemption Square at 250 Assay St. in Generation Park in late fall. The retailer will be part of the master planned community’s lifestyle and entertainment district, along with Wholesome Pies, Wholesome Kitchen, Bibo’s Bistro, BB&T, Courtyard Marriott and 255 Assay Luxury Apartments. Generation Park is owned by McCord Development. Polo Ralph Lauren Factory Store will open a 14,259-squarefoot shop selling men’s, women’s and children’s apparel and accessories at the Houston Premium Outlets in November. Simon Property Group owns and operates the center off U.S. 290 at Fairfield Place Drive in Cypress, northwest of Houston.
A private investor has purchased Normandy Shopping Center at 12620 Woodforest Blvd. The 44,297-square-foot center is 98 percent leased. Ryan West, John Indelli and Johnny Kight of HFF marketed the property for the seller, Williamsburg Enterprises. Tenants include Zachry Construction, Texas Children’s Urgent Care, GNC, Pink Nails, Wing Stop, Rodeo Dental, Domino’s and Woodforest National Bank.
American Freight Furniture & Mattress has leased 24,000 square feet for a discount furniture store at 12355 Fondren. Laura Diggs of NAI Partners represented the landlord.
Tarka Indian Kitchen has leased 3,090 square feet at 3701 S. Shepherd Drive. Joaquin Orozco and Mayur Shah of Retail Solutions represented the tenant.
Eklektic Jewelry Studio has leased 1,238 square feet at River Oaks Shopping Center, an open air center at West Gray Street and South Shepherd Drive. John Wise represented Weingarten Realty in-house. It will be the retailer’s second studio when it opens this summer.
Mean Green Training Center has leased 6,000 square feet for a fitness center at 6400 Southwest Freeway, between Westpark and Hillcroft. Omid Sharifian of Lila Co. Realtors represented the landlord, 6400 Southwest Freeway Ltd. David Gerber of Gerber Realty represented the tenant.
CD American Shaman has leased 1,050 square feet in Copperfield Crossing, at 15540 FM 529 in northwest Houston. Andrew Alvis of NewQuest Properties represented the tenant. Adam Blustein and Lauren Shepperd of Global Realty & Management represented the landlord, EQYInvest Owner II.