RA Interests of Houston is eyeing the possibility of a conversion into a seniors housing project, with a small retail center at the front of the six-acre tract, says John F. Littman of Cushman & Wakefield of Texas Inc. Such a plan could work out well since the property is located near the City of Pasadena's Town Square shopping center. Littman, B. Kelley Parker and H. Frank Stanley in C&W's Houston represented the buyer of 906 Southmore Ave.

Pasadena, situated 14 miles southeast of Houston's CBD, bought the property in December 2000, Bill Harry, with Bill Harry Real Estate in Houston, tells GlobeSt.com. A new administration in July 2001 concluded that it was economically infeasible to tackle a conversion project on the property. The city still owns an abutting building, which houses medical tenants and some municipal offices. The long-range plan is for the city to occupy the entire building.

Through the years, the property was traded several times to hospital groups. The last owner was Memorial Hospital System, which closed the facility about four years ago.

Several offers came in for the property, but Harry says only the buyer fulfilled all city specifications. The asset's 2002 assessment is slightly more than $1 million. Harry, who brokered the deal for the city, says the buyer paid more than the assessment.