Meyerland Plaza sold for $126 million

HOUSTON - Ronus Properties has agreed to sell Meyerland Plaza, located at Loop 610 and Beechnut for $126 million, according to Real Estate Alert newsletter. The 965,000-square-foot center has a J.C. Penney, Target, Pier 1, Best Buy, Bed Bath and Beyond, and a number of restaurants, including Café Express, La Madeleine and Escalantes.

The buyer is Houston-based Fidelis Realty Partners in a partnership with Black Rock Investors of New York. Fidelis owns a number of shopping centers in Houston.

The seller, Atlanta-based Ronus Properties is led by Dutch investor Ronald deWaal, who is selling off his American real estate portfolio.

Meyerland Plaza was developed in the 1950s and was a key shopping hub in southwest Houston for many years. It was redeveloped in the 1990s by Houston shopping center magnate Ed Wulfe.

Houston's City Centre Is a Hit

HOUSTON - City Centre mixed used commercial development has quickly become a main attraction in Houston, Texas.

City Centre Continues to Drive Development in West Houston

HOUSTON - Just a few years ago Town and Country sat at the crossroads of Interstate 10 and the Sam Houston Tollway, major North-South and East-West corridors that could potentially funnel two million people to the site within 20 minutes, adjacent to one of the wealthiest ZIP codes in Texas.

What emerged in mid-2009 was CITY CENTRE, a distinctive mixed-use development that has drawn upscale retail shops and world-renowned restaurants, plus corporate tenants and discerning individual residents.