EVO Entertainment Acquires Former Xscape Movie Theater In Richmond From Patoka Capital For Redevelopment

The property asset involved in this transaction is a commercial real estate located at 26616 Fm 1093 in Richmond, TX. The site encompasses 55,000 square feet and sits on 1.46 acres, previously serving as the Xscape Movie Theater. The asset was sold as part of a planned redevelopment into a ~70,000-square-foot entertainment complex.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: Not specified
• Square Footage: 55,000
• Acres: 1.46
• Buyer: Mitch Roberts - EVO Entertainment
• Seller: Patoka Capital
• Brokers: Rob Banzhaf & Alexander Rizzotti - Newcor Commercial Real Estate

This transaction involved Mitch Roberts representing EVO Entertainment, which acquired the asset from Patoka Capital. The deal was brokered through the efforts of brokers Rob Banzhaf and Alexander Rizzotti from Newcor Commercial Real Estate, indicating a strategic move towards enhancing recreational offerings in suburban areas.