713-852-3407
114-154 Fairmont Pky
Pasadena, TX 77504
Southeast Houston
HIGHLIGHTS
- Hispanic Grocery Anchored - 42,130 SF El Rancho accounts for 36% of rental revenue
- Demographics Drive Value - El Rancho anchors Fairmont Junction in an 80.1% Hispanic neighborhood
- Established Sub-Anchors within Local Community - Weighted Average Tenure of 9.7 years across Sterling Banquet, Family Dollar, and Dollar Tree
- Significant Growth via 14.51% Mark-to-Market Opportunity -49% increase to NOI from mark-to-market & vacancy lease up lifts the going in cap rate 3.45%
- Potential for Additional Upside via Pad Development - Opportunistic site on the hard corner of Fairmont Pkwy & Shaver
OVERVIEW
Jones Lang LaSalle ("JLL") is pleased to present Fairmont Junction ("The Property"), a 116,898 SF grocery-anchored neighborhood retail center located in Pasadena, Texas (Houston MSA). Currently 82% leased, the property features a developable pad opportunity at the prime intersection of Fairmont Parkway & S. Shaver, with a traffic count of 22,447 vehicles per day.
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
Fairmont Junction
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1982
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
7.6 AC
LAND SF
331,056 SF
ZONING
None
APN/PARCEL ID
1323500010003
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713-852-3407
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713-852-3407
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