HOUSTON – The Marq*E Entertainment Center, a 352,000-sf retail project, has been purchased by HCL-MarqE, LLC, an investment group reportedly affiliated with the Levcor organization.
The property is located at the northeast corner of I-10 West (Katy Freeway) at Silber Road in Houston.
JLL’s Capital Markets experts announced that the firm sold Marq*E project on behalf of Canyon Capital Realty Advisors LLC and Fidelis Realty Partners and financed the acquisition on behalf of the buyer.
JLL’s Managing Director George Cushing led the sales team on the transaction, along with Vice President Wendy Vandeventer. Executive Vice President Jimmy Board also arranged financing on behalf of the new owners..
“Marq*E is a strong performing asset that has the components of location and design that will allow the site to be reconfigured into a class A mixed-use development,” said Cushing.
“This sale is a great example of the effectiveness of JLL’s integrated Capital Markets platform. JLL was able to work together to structure a loan that insured execution for the seller as well as provide the ultimate buyer with the desired structure to accommodate its acquisition and re-development vision,” said Board
The high-profile location has over 1,800 feet of frontage exposure along I-10 and is home to established anchor tenants including Edwards Cinema, Dave & Buster’s and LA Fitness, as well as national retailers Bank of America, Chick-Fil-A, Subway, Cricket, T-Mobile, Panda Express and Red Robin.