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Rice University acquires retail property


Fort Worth, Texas - Rice Management Company and Trademark Property Company have acquired a three-building, 193,000-sq.-ft. 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 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.

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