Rice Epicurean Markets is finally giving up on 4 of its 5 remaining locations, the company announced today. The lone holdout is the company’s store on Fountain View at Inwood, which will remain open for the foreseeable future. Its Holcombe, Weslayan, Tanglewood, and Memorial locations will be leased to The Fresh Market, a chain based in North Carolina.
The grandchildren of William and Edna Levy, who in 1937 opened the first Rice Blvd. Food Market at 2501 Rice Blvd. in a then-empty Rice Village, indicate in a statement that they intend to follow a path paved by the successor owners of another local grocery chain, Weingarten’s: “Throughout our history our business has naturally expanded into real estate, primarily in neighborhood shopping centers with our own stores and other quality retailers,” they write. “With this transaction, our family’s progression and growth in the Houston real estate business continues.” The company will be Fresh Market’s landlord in 3 of the locations.
The 4 Rice Epicurean stores will close beginning in the first quarter of 2013, the company said. Fresh Market plans to open its stores later that year.
- The Fresh Market Strikes Deal with Rice Epicurean [Gourmet Retailer]
- The Fresh Market Leases Four Houston Metropolitan Area Grocery Store Locations [Fresh Market]
- Company History [Rice Epicurean Markets]
Photo of Memorial Location, 12516 Memorial Dr.: Terah K.