Fiesta Mart Leases HQ Space; Corporate Merger Nears
HOUSTON – (Realty News Report) – Fiesta Mart LLC, a Houston-based grocery chain that is being acquired by Groupo Comercial Chedraui, has leased about 32,000 SF of headquarters office space near the Galleria.
Fiesta Mart, which has 63 stores, has agreed to be sold to Chedraui, a Mexico-based retailer, for $300 million.
Fiesta Mart LLC, represented by CBRE’s Rich Pancioli and Matt Flaherty, leased the office space in the 5444 Westheimer building, east of Chimney Rock. CBRE’s Matthew Dickson represented Aecom, the landlord in a deal for most of the space.
Chedraui is acquiring Fiesta Mart from Acon Investments, a Washington, D.C. private equity firm, which has owned the retailer for about three years.
Fiesta has 32 stores in the Houston area, in addition to stores in Dallas and Austin.
Chedraui already has 60 grocery stores in California and other states operating under the El Super brand name. The addition of Fiesta Mart makes the chain a strong national force in selling groceries to the Spanish-speaking market in the U.S.
In addition to the space leased from Aecom in the Westheimer building, Fiesta Mart LLC also leased a small bit of space in the same building from Franklin Post Oak Ltd., according to CBRE.
April 4, 2018 Realty News Report Copyright 2018