Premier Planet-Fitness anchored shopping center trades in Houston's Pasadena submarket

HOUSTON, March 25, 2026 –  JLL Capital Markets announced today that it has arranged the sale of Fairmont Preston Plaza, a 105,869-square-foot neighborhood retail center strategically positioned in Pasadena's leading retail corridor in southeast Houston.

JLL represented the seller, Mission Shore Management. The buyer was JKZ Fairmont Preston, LLC represented by Matt Moake with HighStreet Net Lease Group.

Fairmont Preston Plaza is located at 4802-4930 Fairmont Pkwy. at the intersection of Fairmont Parkway and Preston Avenue, a high-traffic retail node that ranks second among retail corridors within a 15-mile radius. The property benefits from exceptional visibility with 30,345 vehicles per day on Fairmont Parkway and serves a densely populated Hispanic community that previously had limited access to quality shopping centers.

Built in 1974 and renovated in 2016, Fairmont Preston Plaza is currently 89% leased with a diverse tenant roster. The center is anchored by Cosmic Air, a newly added 24,000-square-foot trampoline and entertainment facility, and Planet Fitness, which occupies 26,000 square feet. The Planet Fitness location ranks third in foot traffic among Houston locations and 11th statewide over the past 12 months. National tenants also include Dollar Tree and a recently opened 7Brew Coffee drive-thru on an outparcel under a long-term ground lease through 2035.

The property offers significant value-add potential with 20% below-market rents and 46% of tenants expiring within three years without fixed renewal options.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Ryan West, Senior Director John Indelli and Analysts Zamar Salas and Max Myers.

"Fairmont Preston Plaza presented a compelling opportunity to acquire a well-located asset in one of Houston's strongest performing retail corridors," said West. "The property's exceptional demographics, diverse tenant mix and significant mark-to-market opportunity made it attractive for the buyer."

"This transaction demonstrates continued investor confidence in Houston's thriving southeast retail market," added Indelli. "With limited retail supply serving this densely populated submarket, Fairmont Preston Plaza is well-positioned to capitalize on strong consumer demand in the years ahead."

The property is situated within a trade area featuring average household income of $98,958 within one mile and a population of nearly 291,000 within five miles. Houston ranks second nationally in office re-entry levels and added more than 36,000 jobs in 2024.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.