major memorial move
Tilman Fertitta acquires prime, pivotal space near Memorial Park
Houston’s most headline-grabbing mogul and Billion Dollar Buyer has just made another savvy move.
Houston Rockets owner and Landry’s Inc. CEO Tilman J. Fertitta has acquired a familiar commercial space on Memorial Drive. The plaza, located at 5757 Memorial Dr., currently houses Comerica Bank through summer 2024. A prime piece of Inner Loop real estate, the building sits on 1.63 acres east of Bayou Bend and Memorial Park — both a quick jaunt away.
“When the opportunity to acquire this building on Memorial Drive was presented, it was a no-brainer,” Fertitta noted in a statement. “Memorial Drive is a renowned thoroughfare in Houston, and the synergy with Brenner’s on the Bayou nearby made the decision simple. The adjacency of River Oaks and Memorial Park only enhances the appeal of this location, and we look forward to expanding our business in this area.”
The move is hardly surprising to anyone who has followed Fertitta’s move along the Memorial Drive/Buffalo Bayou corridor. In 20, Fertitta and his acquisitions team bought and now operate the White House event space, which sits directly behind the newly acquired 5757 Memorial property and next to Brenner’s on the Bayou — also a Fertitta holding.
Hospitality aside, the move is a pivotal acquisition, as parcels and buildings along Memorial Drive near River Oaks are some of the most coveted parcels in Greater Houston. With its two-story building of more than 17,000 square feet, the space offers Fertitta myriad development and brand presence options.
Hotly desired neighborhoods Crestwood, Camp Logan, and Rice Military also anchor the space, which means immediate local demand for any new retail, restaurant, or hospitality expansion.
“We are constantly evaluating real estate opportunities and I am thrilled to add this premium location to our expanding portfolio,” Fertitta continued. “This property represents more than real estate; it is a great asset strategically positioned to create opportunities that will only further elevate the already dynamic area.”