FORT WORTH, TEXAS – {September 17, 2014} – Rice Management Company and Trademark Property Company today confirmed the closing of the acquisition of a three building, 193,000 square foot retail property portfolio in Rice Village, today collectively named the Village Arcade. Trademark and Rice plan to completely revitalize the properties by significantly upgrading the merchandising mix, facades and site amenities and considering a rebranding. 
“Trademark has been engaged to manage, lease and renovate these properties which haven’t changed since they were originally built in the late 80s and early 90s,” said Trademark CEO Terry Montesi. “We plan to transform the shopping experience over time with a new but still authentic design, look and feel and a fresh mix of new to market tenants. Our plans to upgrade the buildings and streetscape will mesh very well with the community while maintaining the unique character of this historic district.”
Trademark has engaged the top creative design minds in the industry to study landscape, streetscape, hardscape, facades and environmental graphics with the goal of improving the shopping experience and better integrating into the beloved Rice Village mixed-use district, which dates back to the 1930s.
“There is clearly great pent-up demand among leading national and international brands and special local merchants who have wanted to open stores in the Village for years but for one reason or another couldn’t,” said Tommy Miller, managing director at Trademark. “This is a very special and uniquely eclectic urban place unlike any other in Houston. We have a great opportunity to bring in the best-of-the-best retailers and restaurants to Rice Village in the coming years and we intend to be very selective.”
Trademark was selected by Rice Management Company, which has responsibility for the Rice University endowment, to oversee asset and property management, leasing and repositioning of the Village Arcade properties. Located west of the University, the three buildings feature 50 stores and restaurants, including Ann Taylor, Athleta, Banana Republic, Chico’s, Gap, Kendra Scott, LOFT, MAC, Sephora, Soma, Starbucks, Victoria’s Secret and White House | Black Market.
For more information, contact: Sydney Townsend or Maggie Turner
Sunwest Communications
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