Description

Jones Lang La Salle (“JLL”), on behalf of ownership, is pleased to offer for sale Park Place 8 (“the Property”), a 250,894 square foot Class B business park in Northwest Houston, TX. The Property is 83% leased to 15 tenants with a weighted average remaining lease term of 4.2 years. The Property offers new ownership a unique value-add opportunity with the ability to increase NOI via lease-up of the remaining vacancy capitalizing on the robust rent growth and outsized fundamentals occurring in the Texas industrial market.

The Property is made up of 4 high-performing flex industrial assets located in an irreplaceable infill location with significant barriers to entry and immediate connectivity to Houston’s primary commercial and residential hubs. The location offers unmatched frontage on Beltway 8 and provides tenants with the highly desired park setting. The Property’s diverse configuration offers rear-load space catering to

both smaller showroom tenancy and larger distribution tenants.

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Attributes

Building area net

23,309 sm

Occupancy

83%

WALT

4.2 years

Media

Investment highlights

Institutionally Preferred Submarket Surrounded By Best-In-Class Ownership
Irreplaceable Infill Location Within The Heart of Houston's Population Center
Value-Add Opportunity With Significant Upside Via Lease-Up And Proven Business Plan
Diverse Rent Roll with Highly Committed Tenancy
Land Constrained Infill Location Insulated From Future Supply