The Heights Mercantile and three other redevelopment projects in the Heights were sold over the summer to a real-estate investment firm in Charlotte, N.C., according to Harris County property records.
All four sites — 201 E. 20th St., 420 E. 20th St., the Lowell Street Market at 718 W. 18th St., and a collection of buildings that comprise the Heights Mercantile along 7th Street between Yale Street and Heights Boulevard — were sold from Heights-based Radom Capital LLC to Asana Partners. The properties have a combined value of more than $14.3 million, according to Harris County Appraisal District records.
According to the Houston Chronicle, Radom Capital continues to manage and lease the popular Heights Mercantile that opened in 2017. The site includes Radom Capital’s office as well as dining, fashion and wellness establishments.
Steve Radom, managing principal for the local real-estate development firm, told the Chronicle he was in the process of refinancing a construction loan when Asana executives offered to buy the Heights Mercantile.
Radom Capital announced in November that it was working on another redevelopment project in the Heights along with Triten Real Estate Developers. The M-K-T project, just south of the Heights Hike and Bike Trail, will transform a 12-acre warehouse complex into 200,000 square feet of office space, merchants, restaurants and wellness centers at the northeast corner of Shepherd Drive and 6th Street.
In late October, a group that includes Radom Capital purchased the 98-year-old building that houses the popular Carter & Cooley Company Delicatessen at 375 W. 19th St. The firm has yet to announce its plans for that site, where the deli, two antique shops and a few other businesses remain in operation.