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8 Acres Sold for Restaurant Development
Fairplay Partners Ltd. sold eight acres to Glaser Retail Partners, operating under the name SABINE 2016-1 LLC, for development of four new restaurants in an area that has been dubbed the “Pasadena Pavilion.” The property is at Beltway 8 and Vista Road in Pasadena, TX. The sales price was not disclosed, and construction is already underway on the four-restaurant complex.
The four eateries will consist of Razzoo’s Cajun Café, Red Robin, Chuy’s and Outback Steakhouse. The developer anticipates that the restaurants will be completed by the end of 2017.
Marshall Clinkscales with Colliers International represented the seller. The buyer was advised by Lindsay Schlueter of Glaser Retail Partners. “We think the Pasadena Pavilion is going to have a tremendous impact on the restaurant presence in Pasadena,” Clinkscales said.
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