Owner of 22K-SF Center Prepares to Upgrade

Baker Katz, which acquired a 22,000-square-foot retail building at Fairmont Parkway and Beltway 8 in Pasadena, TX in spring 2017, is planning upgrades. The Houston-based owner will refurbish the signs and landscaping of the 70%-occupied center. Baker Katz acquired the asset from 5233 Fairmont LLC for an undisclosed price. The property is valued at $4.7 million.

The mid-1980s property at 5233 Fairmont Pkwy. includes tenants such as Mattress Overstock, Leslie’s Pool Supplies and Supercuts. “This property sits at a highly sought location in a dense retail trade area near the Ship Channel in Pasadena,” said Neal Wade, Baker Katz development partner. “We know this property has great potential, and with our team making updates to enhance the curbside appeal, it will add value and help to attract additional prominent regional and national tenants.”

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