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February 23, 2004 - Commercial Real Estate Beat
Original Antone's sandwich shop site sold to historic redeveloper
Nancy Sarnoff - Houston Business Journal
One month after the Antone family closed its original sandwich shop at 807 Taft, the real estate where the familiar eatery operated for four decades is in new hands. Kaldis Development Interests, a Houston-based real estate firm that specializes in renovating close-in historic commercial properties, purchased the property for an undisclosed amount.
The aged 6,800-square-foot building located just south of the Allen Parkway corridor leading into downtown Houston will be reskinned and updated to attract new tenants. Local architecture firm Acumen is designing the project.
Andrew Kaldis, president of Kaldis Development Interests, is negotiating with restaurant operators to take over the former space held by Antone's Import Co. The sale also included an 11,000-square-foot warehouse situated behind the restaurant space.
The 1930s building will be converted as a multi-tenant office/warehouse work space. Kaldis says he envisions art galleries, a caterer, furniture makers or small retail users occupying the space.
The access into downtown, coupled with the growing number of businesses and residential developments in the area, led Kaldis to close quickly on the property. Just north of the site, the Federal Reserve is building a massive Houston headquarters to replace the government facility in the Central Business District. Kaldis believes area residents and office workers would welcome a nearby restaurant. "One thing I think is missing is a feeling that you can live in an area and be able to walk down the street to a restaurant or a coffee bar," Kaldis says.
Kaldis Development Interests has been involved in several local redevelopment projects, including the Commercial National Bank Building and the Scanlan Building in the Central Business District, Hugo's restaurant on Westheimer and Villa Serena, an historic conversion of a former orphanage to condominiums.
© 2004 American City Business Journals Inc
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03/29/05
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