![]() ![]() As part of a $1 million renovation, the Arena Theater was scheduled to re-open on November 9, 2007. A total of $6 million was invested into the renovation of the towers. By that year $5 million in capital investments had been made to the towers. As of the same year Westwood College occupied several floors in the complex. As of that year most of its tenants were professional groups and included 25 law firms, medical users, radio stations, and television stations. As of 2007 the office towers had an occupancy rate of around 70 percent. Since the acquisition occurred, all of the buildings underwent renovations. In September 2006 the limited partners sold their stake, which was 50 percent, to Boxer Property. As of 2004 the Class B office space in the complex was about 70% occupied, and the tenants included several large call centers. H'Town Arena had stopped leasing in the theater days before the sale occurred, and as a result the theater stopped operating. At the same time Transwestern Commercial Services replaced PM Realty Group as the agency that manages and provides leases for the property. In December 2004 the Arena Group and two limited partners bought the entire Arena Place complex from Lennar Partners for about $24.5 million. įor many years the Arena Theatre was operated by H'Town Arena, a tenant. Stromberg said that the sale would be the largest transaction of Class B office space in 13 years. In 1997 Stromberg said that, according to real estate sources, the towers were reportedly under a contract of sale to Texas Commercial Properties Inc. Brown also said that they were "in poor condition" and needed updating. During that year Logan Brown, a senior vice president of Grubb & Ellis, a real estate firm, said that the buildings were worth $30 million. Other tenants in the Arena Towers included Houston Allstate, LTD Financial Services, and Prudential. During that year Houston Cellular was the main tenant in Arena Tower I, and the building was named after the company. In 1997 Arena Tower I was 88% leased and Arena Tower II was 73% leased. Stromberg of the Houston Business Journal said that when Wong purchased the buildings, they were "substantially vacant." At the time a 200,000 square feet (19,000 m 2) block of space in tower one was vacant. In 1990 he acquired the second tower from the Midland Bank of England. Lawrence Wong, a real estate developer, acquired tower one from Bank of America in 1989. Bank of America repossessed the building and evicted Powers. Afterwards, in 1986, Powers attempted to claim Arena Tower I, the north side tower, as his personal residence to prevent foreclosure. Robert Williamson of the firm Holliday Fenoglio Fowler said that the Powers case was "pretty celebrated" and that the complex was "very storied." Williamson described Powers as a "very flamboyant developer." The complex was the most well-known development established by Powers. ![]() The penthouse, located in Arena Tower I, had a helicopter pad and a private swimming pool on the rooftop. Powers built a personal penthouse on top of one of the towers and received a lot of attention for this. The towers, colored black, were developed in the early 1980s by Melvin Lane Powers. Bob Hope, a comedian, was an investor in the original Arena Theatre. The Arena Theatre now owned by a partnership which owns the office buildings, was built in 1965. The complex, which has Class A office space, is located in proximity to the 610 Loop, Beltway 8, and the Westpark Tollway. The concession stands are located inside the theater. ![]() The complex is located near PlazAmericas (formerly Sharpstown Mall). The complex has a two-story, 6,000 square feet (560 m 2) office tower penthouse. Because of the presence of the garages, the theater has on-site parking. Due to the facility's circular shape, all of its seats are no further than 65 feet (20 m) from the stage. The complex, located on Interstate 69 (Southwest Freeway), includes One & Two Arena Place, two 19-story towers each with about 390,000 square feet (36,000 m 2) of space, the Arena Theatre, a live performance theater with a 2,850 seats, and two nine story parking garages with a total of 2,200 spaces. It was built in Sharpstown Commercial Park. Arena PlaceĪrena Place is a complex including two office towers and a theater located in Sharpstown, Southwest Management District, Houston, Texas. For the theater in Bratislava, see Arena Theatre.
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