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Baker Katz buys four properties in Houston metro area
Houston, Texas — Baker Katz has acquired four retail properties throughout the greater Houston area — in the neighboring cities of Port Arthur, Lake Jackson, Beaumont and Tomball.
The Port Arthur property is a 90,000-sq.-ft., single-tenant building purchased from the Sutherland Lumber Co. for an undisclosed amount. Baker Katz plans to renovate the building and convert it to a multi-tenant space. Hobby Lobby has signed a 58,000-sq.-ft. lease, and Party City has signed a lease for 13,000 sq. ft.
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Restaurant sales, traffic and capital spending on the rise
Washington, D.C. -- Driven by stronger same-store sales and customer traffic and a more optimistic outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index 's rose to a 10-month high in March. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.4 in March, up 0.9 percent from February's level of 100.5.