Ronus Properties has agreed to sell Meyerland Plaza, located at Loop 610 and Beechnut for $126 million, according to Real Estate Alert newsletter. The 965,000-square-foot center has a J.C. Penney, Target, Pier 1, Best Buy, Bed Bath and Beyond, and a number of restaurants, including Café Express, La Madeleine and Escalantes.
The buyer is Houston-based Fidelis Realty Partners in a partnership with Black Rock Investors of New York. Fidelis owns a number of shopping centers in Houston.
The seller, Atlanta-based Ronus Properties is led by Dutch investor Ronald deWaal, who is selling off his American real estate portfolio.
Meyerland Plaza was developed in the 1950s and was a key shopping hub in southwest Houston for many years. It was redeveloped in the 1990s by Houston shopping center magnate Ed Wulfe.