Pasadena: Fairmont Parkway Shopping Center attracts South American buyer

​PASADENA – The Fairmont Parkway Shopping Center has been acquired by a South American buyer, according to Transwestern.

The 172,002-sf power center is located at the intersection of Beltway 8 and Fairmont Pkwy. in Pasadena.

Fairmont Parkway Shopping Center is dual-anchored with long-term leases by 24-Hour Fitness and iT’Z Family, Food & Fun.

The property is stabilized at 96 percent occupancy with a roster of national tenants including Comerica Bank, Goodwill and Pei Wei.

The Houston Ship Channel is driving tremendous growth in East Houston and the Pasadena submarket, making it highly attractive to investors for all property types. 

Prices for many east side industrial properties have increased by 25 percent or more in the last year or two, reports Houston valuation firm Deal Sikes & Associates.