Tilman Fertitta again expanded his portfolio of prominent Houston real estate with two acquisitions in Uptown and the River Oaks District area.
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Fertitta purchased an undeveloped 3.4-acre tract at 4702 Westheimer Road, directly across Westcreek Drive from the River Oaks District, according to a news release. Fertitta in February paid $450M to buy the River Oaks District, a 13.9-acre open-air development with restaurants, a movie theater and some of the most upscale shopping in the city.
Also announced Wednesday was Fertitta’s purchase of 777 Post Oak Blvd., a nine-story, 177K SF Class-A office building. It sits on 2.3 acres adjacent to The Post Oak Hotel, which Fertitta also owns. The 250-room Forbes five-star hotel also houses upscale retail, a luxury car dealership and Fertitta’s corporate office.
Walkability upgrades are underway, as Fertitta plans to install a landscaped sidewalk for direct access to The Post Oak Hotel from 777 Post Oak Blvd. The office was built in 1973 and modernized by Ziegler Cooper, according to the release.
Specific plans for the Westheimer tract weren't detailed, but the purchase offers “numerous opportunities for the district’s expansion,” the release says. The tract used to house breakfast and lunch restaurant LePeep, which moved nearby in 2017 after 30 years at the spot. The building has since been torn down, and nearby businesses use the space for valet parking.
Fertitta is rapidly expanding his real estate portfolio in sought-after areas of Houston. With the three acquisitions this year and the purchase of a 1.6-acre tract on Memorial Drive late last year, he expanded his real estate portfolio by more than 20 acres within five months.
The Memorial Drive property is adjacent to his White House venue and Brenner’s on the Bayou restaurant.
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