|Call for Offers||2022-03-23|
Jones Lang LaSalle (“JLL”), on behalf of ownership, is pleased to offer the Atascocita & Lee Portfolio for sale (“the Property”). The Property consists of five light-industrial buildings located in North Houston proximate to George Bush Intercontinental Airport (“the Property”). Three buildings are located at 1003 Atascocita Road with the remaining two buildings located approximately 3 miles west at 16410 - 16450 Lee Road. Both addresses are easily accessible via three of Houston’s most trafficked thoroughfares: Beltway 8, Interstate 69, and Interstate 45. George Bush Intercontinental Airport is located 1 mile away from the Lee Road address and less than a 10 minute drive from the buildings on Atascocita Road. Currently 89% occupied, the Property has an sticky tenancy base with an impressive 7.4 years of weighted average tenure. With an excellent location and gross rents substantially below market, new ownership has the unique, value-add opportunity to create upside via renewing tenants at NNN market rates and leasing the remaining vacancy.
· Significant Value-Add Upside
· Sticky Tenancy with 7.41 Years of Weighted Average Tenure
· Excellent Market Fundamentals For Class B & Class C Industrial
· Priced Well Below Replacement Cost
· Robust Population Growth & Demographics
· Easy Ingress/Egress With Proximity To Major Thoroughfares