Construction is underway to add an Aqua-Tots Swim School to the now fully leased, 145,202-sf Fairmont Parkway in the heart of southeastern Harris County's strongest retail corridor.
The 6,000-sf Aqua-Tots facility will open in mid-August in Pasadena. The swim school is joining a family-oriented tenant roster in a community center redeveloped in the mid-2000s by NewQuest Properties and sold three years ago to WMC Fund LLC. The property is located at the junction of the Beltway 8 and Fairmont Parkway, where more than two million sf of retail have been developed to service a fast-growing population of nearly 100,000 residents.
"Aqua-Tots will add to an already stellar mix of family-friendly tenants at Fairmont Parkway," says Austen Baldridge, an associate with Houston-based NewQuest Properties and the landlord's broker.
Fairmont Parkway is anchored by a 40,340-sf 24 Hour Fitness, 60,667-sf iT'Z Family Food & Fun and 19,165-sf Goodwill Store. The additional 25,030 sf of leased retail include a 3K Sports Batting Cage and sundry health-related, fitness and entertainment tenants, a majority of whom have been there since the center's redevelopment.
"The Fairmont Parkway center is located at the 'main and main' intersection of retail for Pasadena," Baldridge says. "It might be the only fully leased project of similar size in the corridor."
Greg and Mark Stanislawski of Retail Strategy Real Estate Group represented the Aqua-Tots franchisee, which also has a swim school in Pearland. Stonegate Construction Design Build and Remodel is Aqua-Tots' general contractor. Interplan LLC is the project architect and designed the mechanical, engineering and plumbing systems.
There are three municipal-owned pools in Pasadena and numerous recreation centers. The local YMCA closed its doors two years ago, leaving a void in the submarket. Aqua-Tots Swim School is filling space previously occupied by Regency Beauty Institute, which went bankrupt in late 2016.
Within Fairmont Parkway's one-mile trade area, 52.4% of the population has three or more people per household. Home ownership is 82.6%, with the median age being 35.5 years, strong indicators the submarket is a nesting ground for young families. The average annual household income exceeds $97,000.
"Aqua-Tots is definitely a good amenity for the community," Baldridge says, "and clearly a use change that will draw more families to the center and co-tenants."
Aqua-Tots Swim School was launched in 1991 in Phoenix, where instructors undergo extensive training and certification. The schools offer small-group classes for children starting at four months old to develop strong swimmers through a "Lessons for Life" curriculum. Specialized training, competitive teams and swim clubs also are available.
SOUTH TEXAS LEASES
Aqua-Tots Swim School has leased 6,000 sf of retail space in Fairmont Parkway, located at the intersection of Beltway 8 and Fairmont Parkway, Pasadena, from WMC Fund LLC. Austen Baldridge of NewQuest Properties represented the landlord. Greg and Mark Stanislawski of Retail Strategy Real Estate Group presented the tenant.
Lush & Co. Spa has leased 3,500 sf of retail space in Brazos Town Center, located at the intersection of Interstate 69/US Hwy. 59 and FM 762, Rosenberg, from NewQuest Properties. Bob Conwell and Austen Baldridge of NewQuest Properties represented the landlord. Ryan Kelsall and Zach Sturgeon of NewQuest Properties represented the tenant.
Katy Test Prep & More has leased 1,400 sf of retail space in Stableside at Falcon Landing, located at the intersection of Gaston Road and Falcon Landing Boulevard, Katy, from NewQuest Properties. Austin Alvis of NewQuest Properties represented the landlord in the direct deal.
