Fidelis Realty Partners announced July 16 that an affiliated acquisition partnership it controls bought the San Jacinto Mall in Baytown. The Houston-based commercial real estate firm plans to redevelop it.
Fidelis plans to completely redevelop the mall, all or a large portion of which will be demolished, and build a 1 million-square-foot open-air center on the property. The firm expects it will take three years to prepare the mall for demolition and another two years to redevelop the property. Fidelis is working with Houston-based Boucher Design Group on architectural plans.
South Carolina-based Triyar, an investment firm, was the seller. The purchase price was not disclosed. [Houston Business Journal]
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