Business Beat: Houston firm buys DeVargas Center
Bob Quick | The New Mexican
Posted: Tuesday, February 16, 2010
- 2/16/10
     
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DeVargas Center has been acquired by Fidelis Realty Partners, a Houston company involved in commercial real-estate investment, development and services.

The company was formed in 2003 and has a portfolio of more than 3 million feet of income properties.

Fidelis owns properties in three cities and two states, most of them being retail centers in metropolitan Houston.

The northside mall was previously owned by Houston-based Weingarten Realty Management, which has been involved with the mall since it opened in 1973.

Katy Fitzgerald, property manager at DeVargas Center, said Fidelis purchased the property "because it was a good asset."

The mall is almost completely occupied, with the largest vacant space being that of Santa Fe Music and Piano.

Another mall space, previously occupied by Santa Fe Sewing and Vacuum, will open in about 60 days as a Subway sandwich shop.

In addition, Fidelis is exploring the possibility of developing additional free-standing retail space at DeVargas, Fitzgerald said.

***

Lulu, the proprietor of Santa Fe's newest Chinese restaurant, Lulu Chinese Cuisine, has opened the Oriental Bar in a space next to her restaurant at 3011 Cerrillos Road, near Quality Inn.

"We are open from 8 p.m. to 2 a.m. Thursday, Friday and Saturday," Lulu said. (She prefers to go by her first name.) On Sunday, we are open from 8 p.m. to 12 a.m."

The full-service bar has a $10 admission fee and requires patrons to be 21 or older.

"We plan to have karaoke and live music in the future," Lulu said.

For more information, call 473-1688.

***

The Santa Fe Gallery Association has appointed a new managing director, Christi Hield. She is a longtime Santa Fe resident and former director of several nonprofits

Recent additions to the board include Kathrine Erickson of Evoke Contemporary, Michael McDowell of POP Gallery and Karla Winterowd of Winterowd Fine Art.

Hield said about one-half of the 200 galleries in Santa Fe are members of the Santa Fe Gallery Association.

In support of visual arts in Santa Fe Public Schools, the SFGA encourages participation in the Art Feast festivities scheduled for the last weekend of February, she said.

For more information, call Hield at 982-1648.

Contact Bob Quick at 986-3011 or bobquick@sfnewmexican.com.






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