With the closing of the Sears store, MetroNational is taking the opportunity to envision what changes are needed not only to that wing but the entire mall site to ensure it remains a top shopping and entertainment destination.
MetroNational hired the Trademark Property Company, the Texas-based retail and mixed-use developer, investor and institutional services firm, to lead planning efforts for the redevelopment of Memorial City Mall.
Trademark will develop a plan that re-envisions Memorial City Mall as an integrated, vibrant component of the entire 265-acre Memorial City campus. Redevelopment initiatives will include, but not be limited to, reimagining the south side of the mall, which has now become a major opportunity with the closing of Sears. The goal of the project is to create a one-of-a-kind experience for shoppers and visitors through additional public spaces, increased walkability, more best-in-class retail, restaurants and entertainment uses, curated mixed-use, and a master plan for the next 50 years and beyond.
“We will be working closely with the Johnson family and other stakeholders in the community over the next 12 months to develop an actionable plan for taking Memorial City Mall to the next level,” said Tommy Miller, Managing Director and Chief Investment Officer, Trademark Property Company. “This strategic property is poised to enhance its position as the market dominant shopping destination in west Houston for many decades to come.”
Developed and owned by Houston-based MetroNational, Memorial City is located along the I-10 corridor just inside Beltway 8. The premier mixed-use development currently has 9-million-square-feet of developed real estate, including Memorial City Mall, 3.1-million-square-feet of Class A office space, multi-family units comprised of highrise, midrise, and garden apartments, The Westin Memorial City and Hotel ZaZa Memorial City, and the Memorial Hermann Memorial City Medical Center.
“MetroNational is excited to collaborate with Trademark to deliver a best of class development that will transform Memorial City Mall,” said Jason Johnson, President of MetroNational. “With Trademark’s expertise in mixed-use developments and MetroNational’s six decades of experience in west Houston, the end result will be spectacular and undoubtedly benefit the community for generations to come.”
"If you don’t embrace and capitalize on the paradigm shifts occurring in the retail and shopping center world today, you are losing ground fast,” said Terry Montesi, CEO, Trademark Property Company. “This is an evolving legacy asset, and MetroNational and Trademark are thrilled to partner in its transformation.”