Houston – Rice University has exercised an option to acquire the leasehold in the two-level center from the developer and owner, Weingarten.
Houston – Rice Management Company, which is responsible for the Rice University endowment, has chosen Trademark Property Co. to oversee asset and property management, leasing and repositioning of the Village Arcade, a 195,000-square-foot open-air retail center in Houston’s Rice Village district. Rice University has exercised an option to acquire the leasehold in the two-level center from the developer and owner, Weingarten, and will close during the third quarter of this year. The Village Arcade is the largest retail property in the Rice Village district. Tenants include Ann Taylor, Banana Republic, Gap, MAC, Soma, Starbucks and Victoria’s Secret.
— Scott Reid