Closed $8,250,000 Asking Price - Multi-Tenant
Fairporte Green Shopping Center is a 48,229 square foot multi-tenant retail property that includes a Burger King Restaurant ground lease at the southwest corner of Fairmont Parkway and South Highway 146 (Future Grand Parkway) in La Porte, Texas. The intersection is signalized and Highway 146 has freeway feeder roads. The property is directly across from a Kroger Signature Store which is the city’s major grocer. The Kroger center and Fairporte Green are the two primary retail properties in La Porte. Freestanding building users at and around the Fairmont/146 intersection include a Chevron Gas Station, Jack in the Box, Denny’s, Kentucky Fried Chicken, Taco Bell, Amegy Bank and Waffle House. In addition, a new standalone First Choice Emergency Clinic has just been built on the Kroger property. There are seven extended stay motels: La Quinta, Holiday Inn Express, Best Western, Candlewood Suites, Roadway Inn and Value Place. These cater to the needs of the extensive demand from the industrial market.
- CAP Rate: 7.56%