HOUSTON – (Realty News Report) – Big V Property Group, in a joint venture with a fund managed by Principal Asset Management, acquired Fairfield Town Center, a 355,000-SF open air center at Highway 290 and the Grand Parkway in Cypress.
The 355,000-SF Center is 99% Leased
The center is 99.5% occupied by tenants including Cinemark, Ross, Marshalls, Home Goods, Burlington, and more. Eric Zimmermann and Tony D’Ambrosio of Big V Property Group oversaw the transaction.
The deal represents Big V Property Group’s second property in the Houston area following the acquisition of Deerbrook Marketplace in Humble in 2021.
“We’re excited to add this to our growing Texas portfolio, now six centers strong,” D’Ambrosio said. “Fairfield Town Center exemplifies the type of property Big V builds, acquires and redevelops — well-located in growing areas, dominant, with healthy anchors and the most-desired retailers and services. This is a trophy asset, which we are proud to add to our portfolio.”
Big V is headquartered in Charlotte, N.C. and it has major offices in San Antonio and Austin and in Murfreesboro, Tenn.
The 3,200-acre Fairfield community was developed by Friendswood Development in far northwest Houston off of Highway 290.
Fairfield Town Center is positioned within one of the country’s fastest-growing trade areas, where the population within a five-mile radius has increased by 6% annually since 2010. The area now boasts more than 122,000 residents, supported by an average household income of roughly $168,000 and a median home value of $379,030.
Big V said the strong demographic fundamentals translate to exceptional consumer purchasing power and continued momentum for the Fairfield Town Center trade area. Fairfield Town Center is the third most-visited retail center in the Houston MSA, Big V said.
More than 187,000 vehicles pass the center daily. Nearby are the Houston Premium Outlets, which sees 4.6 million visits per year, and Memorial Hermann Cypress Hospital, opened in 2017 and now being expanded.
“Big V’s longstanding presence in the Sunbelt and its comprehensive real estate capabilities were major draws for (Fairfield JV partner) Principal Asset Management,” said Kyle Donnelly, Director of Acquisitions/Dispositions at Principal Asset Management.
In north Texas, Big V and The Seitz Group recently broke ground on Rosamond Crossing, a 175,300-SF, open-air center to be anchored by Kroger Marketplace in Anna, Texas, northeast of Dallas.
Dec. 29, 2025 Realty News Report Copyright 2025
Photo: Courtesy Big V
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