FORT WORTH—Rice Management Co. and FortWorth-based Trademark Property Co. have acquired athree-building, 193,000-square-foot retail property called theVillage Arcade in Houston's RiceVillage. Trademark and Rice plan to revitalize theproperty by changing its tenant mix, façade and site amenities.

“There is clearly great pent-up demand among leading nationaland international brands and special local merchants who havewanted to open stores in the Village for years, but for one reasonor another, couldn't,” said Tommy Miller, managingdirector, Trademark. “This is a very special and uniquely eclecticurban place unlike any other in Houston. We have a greatopportunity to bring in the best-of-the-best retailers andrestaurants…and we intend to be very selective.”

Located west of Rice University, the buildingsfeature some 50 stores and restaurants, among them, AnnTaylor, Athleta, KendraScott, Sephora and Victoria'sSecret.