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|Building Area Net||
|Call for Offers||2022-04-07|
Jones Lang LaSalle (“JLL”), on behalf of ownership, is pleased to offer for sale Port 10 Logistics Center Buildings 1 and 7 (“the Property”), two state-of-the-art distribution buildings strategically located near the Port of Houston. Building 1 is a 294,323 square foot cross-dock building developed in 2018 with excellent frontage on Interstate 10. Recently completed in 2020, Building 7 is a 125,888 square foot front-load distribution facility located on Thompson Road. The Property is currently 100% leased with 4.5 years of remaining lease term and rents 23.10% below-market upon expiration. Part of the Port 10 Logistics Park, the Property offers easy access to the Houston Ship Channel, Barbours Cut Terminal, and Bayport Container Terminal. Both buildings feature all of the institutional quality specs tenants have come to expect in Class A buildings such as ESFR sprinkler systems, interior LED motion-censored lighting, and high-quality office finish. Houston experienced 40.1 million square feet of leasing activity in 2021, nearly 73% higher than the average of the previous five years. In Q4 2021, the Southeast submarket experienced 2.3 million square feet of positive net absorption. With rents significantly below market, investors have the unique value-add opportunity to capitalize on the robust rent growth and leasing velocity found in Houston’s institutionally preferred submarket.
· Premier Port Location With Exceptional Access
· Newly Constructed, Class-A Institutional Product
· Value-Add Opportunity Via Marking Rents To Market
· Versatile Industrial Product Catering To Different Tenant Sizes
· Strategic Location Providing Regional Connectivity
· Record Breaking Leasing Velocity And Fundamentals
· Rezoning Of Land In Immediate Area Limiting Construction And Future Competition
· Houston: Nation-Leading Growth