Trademark to Reimagine Houston’s Memorial City Mall
Owner MetroNational will rely on the real estate investment, development and management company to create a master plan for the 1.7 million-square-foot super-regional shopping center’s future.
MetroNational is set to transform Memorial City Mall, its 1.7 million-square-foot super-regional shopping center in Houston. The company recently tapped Trademark Property Co. to craft a blueprint for the property’s future well beyond the mid-21st Century.
Located within MetroNational’s 265-acre, 9.1 million-square-foot Memorial City mixed-use development, Memorial City Mall first opened its doors in 1962. The shopping center is home to more than 150 shops and restaurants, as well as such amenities as an NHL-sized hockey rink and a carousel.
Macy’s, Dillard’s, JC Penney and Target serve as anchors. However, it was the shuttering of former anchor Sears on the south side of the property that helped propel redevelopment plans. Trademark is charged with creating a concept that will provide a unique experience for shoppers and visitors. “Retail and mixed-use places must become much less about acquiring fashion and commodity goods and more about places customers can live much of their life including leisure time,” Terry Montesi, CEO of Trademark Property Co., told Commercial Property Executive.
Facilitating a new reality
The new vision for Memorial City Mall will be achieved through additional best-in-class retail and restaurants, as well as more public spaces and entertainment offerings. Ultimately, the shopping center will serve as a nerve center of sorts for the Memorial City campus. “Memorial City is already a dense regional mixed-use district, but it needs to evolve, add more emphasis on leisure and entertainment and needs its mix of uses to be better integrated,” Montesi said.
Trademark will also develop a master plan for the property’s existence over the next 50 years and its relevance even further into the future. The company is in the very early stages of the assignment and will soon commence the research and planning process for the redevelopment endeavor, which will likely have a budget well into the nine figures, according to Montesi.
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