Exclusive: Busy Inner-Loop Developer Acquires More Heights Properties
HOUSTON BUSINESS JOURNAL
Braun Enterprises, a developer known for acquiring older inner-Loop buildings and flipping them into viable retail and restaurant developments, bought two Heights properties this week.
The company closed on the property at 1805 W. 18th St. near Timbergrove, Zach Wolf of Braun Enterprises told the Houston Business Journal. The property currently houses a Pizza Hut restaurant that'll close in several months, Wolf said. Braun is in discussions with several restaurant operators that are interested in occupying the space.
"This is a very underserved market for restaurants and is just a short distance from the Heights core," Wolf said.
Braun also scooped up 1848 Airline Drive, the home of Bellissimo Italian Cuisine and Half Price Pawn. The property's exterior will be renovated, said Wolf, who added that his company is a "big fan" of Bellissimo and sees the restaurant as a long-term tenant.
Financial details or a redevelopment timeline for either property weren't provided. Braun's development pipeline is full of retail and restaurant projects in the Heights area. Earlier this month, Braun announced plans for a new, 24,000-square-foot retail development at 2401 N. Shepherd. Less than a mile away from that development, Braun is also at work on the redevelopment of Chippendale East Lake Antiques at 250 W. 19th St., just off Yale Street.
Braun has preleased a combined 3,100 square feet to Mary & Moss, a women's clothing and gift boutique store, and Proper Shoes, a California-based sneaker store. The developer is in talks with a dessert shop for the property's corner, the spokesperson said.
And back in January, Braun announced plans to purchase Jimmy's Ice House, a longtime Heights watering hole at 2803 White Oak, from owner Rose Garden Holdings. The developer is also partnering with Houston-based Baker Katz on the redevelopment of 1919 Washington Ave.— an historic building that currently houses Julep, a popular cocktail bar and Gulf Coast seafood eatery.
Read original article here.