|Last Updated Date||06 Mar 2020|
Institutional Quality Asset * Mission Critical Location for Tenant Operations * Beltway 8 Frontage/Visibility * Investment-Grade Tenancy * Substantial Tenant Investment in Buildings * Favorable Market Fundamentals
- JLL is pleased to offer for sale NOV I & II, two Class A industrial warehouse buildings totaling 602,110 square feet along Beltway 8 in Northwest Houston. The property is 100% leased to National Oilwell Varco (S&P: BBB+) which has invested significant capital into the Property and runs its worldwide distribution network out of one building and repairs and maintenance service out of the other. NOV I & II offers investors a unique opportunity to acquire a stabilized asset with over 8 years of remaining lease term combined with
- significant upside in future rental rates at lease expiration as NOV operates critical components of its supply chain out of these facilities and has heavy infrastructure that would be difficult to replicate.