Apr 04, 2018

Exclusive: Houston Developer Acquires Garden Oaks Facility


Braun Enterprises has another acquisition under its belt.

The Houston-based development company, known best for buying old inner Loop properties and turning them into viable mixed-use developments, acquired the former Aztec Rentals Center at 2001 W. 24th St. in Garden Oaks. Braun Enterprises plans to develop 20,100 square feet of retail on 2.06 acres and earmarked the remaining 3.46 acres for unspecified development. A construction timeline wasn't provided.

The purchase price of the deal wasn't disclosed, but the 5.5-acre site was most recently valued at $800,000, per city of Houston documents.

Braun recently acquired 1.66 acres and a 57,000-square-foot building just off Washington Avenue. The company also owns the property at 2412 Washington Ave., which formerly housed the sports bar Social Junkie. Braun has leased that space to Shell Shack, a seafood-boil concept from Dallas, and the restaurant is planning to open in the spring. It'll be Shell Shack's first location in Houston, according to the restaurant's website.

Earlier this month, Braun revealed plans to reimagine Revelry on Richmond, a popular sports bar, as a modernized watering hole with a large Houston mural painted on its east-facing side. 

Braun's portfolio of urban core redevelopments is only growing. In June, the company acquired the historic Heights waterworks property and is turning it into a collection of freestanding restaurants with the addition of a new 5,000-square-foot building and a lawn area. The company's also renovating or recently renovated the properties at 2518 Yale St. and 1900 W. 18th St. It also acquired property in Midtown at 311 West Gray St. in August 2017.

Earlier this year, the company pivoted from retail by purchasing 5757 Woodway, a 162,188-square-foot building in the Galleria area. The company plans to significantly renovate the office building.

Read original article here.