New Pan Am owner has retail plans

Pan Am PlazaA Houston firm has agreed to buy Pan Am Plaza’s office building, skating rinks and the plaza itself. The company, Principle Equity Management, is planning a low-rise, restaurant-anchored development that would replace the rinks in time for the opening of an expanded convention center in 2010. Eventually they’d like to do something larger, like a hotel or condos. But for now, they’re waiting to see what happens with several other hotel/condo projects. The company is more confident of the market’s demand for additional restaurant and retail space. The full story is here. What do you think?

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