PASADENA, Texas – Colliers International announced John O. Harris Ventures, LP has sold the Fairmont Central Shopping Center located at 4118 Fairmont Parkway in the Pasadena community, on the east side of Houston. The buyer was Fairmont Central LLC.
Marshall Clinkscales of Colliers International, who brokered the deal, said in a recent interview job growth on the east side of Houston has been propelled by strong activity around the Port of Houston.
“There are a large number of new projects coming online over the next few years and an increasing number of companies that are opening operations in the area. That translates into job creation along the Ship Channel and in Pasadena, La Porte, Baytown and Deer Park. Energy accounts for a lot of the activity but that’s only part of it,” Clinkscales said. “The outlook for southeast Houston is extremely healthy and very active because it’s a good place to live and work.
“I started in Pasadena in 1972 with a land syndication group and have followed the southeast Harris County market ever since. The area’s growth always has been slow and steady. Plus, southeast Houston’s real estate has never been overdeveloped,” Clinkscales said. “The area never went through an overbuilt situation either in office or retail or industrial like the rest of Houston has. It’s always been a strong and steady market and that’s what retailers like and are constantly discovering.”
John O. Harris Ventures was represented by Clinkscales of Colliers International. The buyer was represented by Bill Pyle with Edge Realty Capital Markets and Ray Orazani of Main Realty.
August 17, 2016 – Realty News Report Copyright 2016