Texas

HOUSTON — A $15 million, top-to-bottom renovation of the 360,000-square-foot Marq*E Entertainment Center, located at 7620 Katy Freeway in Houston, is now complete. The property is owned by Houston-based Fidelity Realty Advisors and Los Angeles-based Canyon-Johnson Urban Funds, a joint venture between Canyon Capital Realty Advisors and former NBA star Earvin “Magic” Johnson. Fidelity oversaw the renovation, which included adding three new pad sites totaling 25,000 square feet, demolishing a building fronting, enhancing signage, adding a new Houston Police Department storefront, landscaping and adding approximately 240 new parking spaces. The development has also added new tenants including Bank of America, T-Mobile, Subway, Panda Express and Chik-fil-A.

IRVING — Dallas-based Bradford Commercial Real Estate Services has brokered the sale of a 8,348-square-foot retail property, formerly a Pancho's Mexican Buffet restaurant, located at 8312 Camp Bowie W. in Irving, to a Houston-based investor. Brian Scott and Karen Simon of Bradford Commercial represented Rockbay Properties II Ltd., parent of the Pancho's location, in the transaction.

SHAWNEE, OKLA. AND LAKE JACKSON — Northbrook, Ill.-based StreetMac Asset Managers has acquired the Brazos Mall in Lake Jackson and the Shawnee Mall in Shawnee, Okla., hrough a joint venture with Stamford, Conn.-based Five Mile Capital Partners. Brazos Mall spans 682,831 square feet and houses Dillard's, JC Penney, Sears, Starplex Cinema, Ross, Palais Royal and Powerhouse Gym. Shawnee Mall spans 453,861 square feet and includes Dillard's, JC Penney, Kohl's and Sears. The seller was Lightstone Properties. Chicago-based Urban Retail Properties will serve as property manager and leasing agent for both malls.