Park Towers, Movie Theater Headed for Auction Block

A little more than a year after completing a $16 million renovation on the 545,000-square-foot Park Towers, owner TPMC Realty is planning to sell the office complex in a foreclosure auction. Also going on the auction block: the Edwards Greenway Grand Palace 24 movie theater.

JLL will represent TPMC at the auction, which is scheduled to take place at 3 p.m., June 10, at Cleary, Gottlieb Steen & Hamilton in New York city.

The two-building office property is at 1233 and 1333 West Loop South. Park Towers North is 61.5% vacant, while Park Towers South is 64.2% vacant. The movie theater, which also includes 31,693 square feet of retail and restaurant space, is at 3839 Wesleyan.

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