Stellar Bank - The Woodlands_Property for Sale
Stellar Bank - The Woodlands_Property for Sale
1900 Research Forest Dr, Spring, TX, 77381-4564, US

Stellar Bank - The Woodlands

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the single tenant Stellar Bank located at 1900 Research Forest Dr, The Woodlands, TX (“Property” or “Asset”).


The Asset is 100% leased to Stellar Bank (“Tenant”) on a ground lease with zero landlord responsibilities, approximately 20.7 years remaining of primary lease term, and 4 x 5-Year & 2 x 10-year renewal options with 10.0% rent escalations every 5 years. Stellar Bank is one of the most prominent regional banks in Texas with 55 locations across the state. The Tenant is rated BBB by KBRA and generates over $452M of revenue annually.


The Asset sits in The Woodlands master-planned development, which continues to thrive, with 78% population growth since 2010 in a 1-mile radius surrounding the asset. The area features impressive household income, averaging $189K in a 1-mile radius. Individuals and families continue to flock to the area, which was ranked the 3rd Best City to Live In and the 1st Best City to Buy a House by Niche in 2023.


The Asset sits nearby The Woodlands Mall, a top performing shopping center ranked in the top 1% by visits nationwide (Placer.ai), with 8.8 million visits annually. The site is also adjacent to four premier full-service acute care hospitals with more than 1,100 total inpatient beds operated by the market's leading health systems, making it a significant healthcare hub in the rapidly developing North Houston region.


The Property is located in a major retail corridor with national tenants including Target, Lifetime Fitness, Home Depot, and Academy Sports + Outdoor, among others. The corridor is served by Research Forest Dr, driving 30K VPD past the asset, and connecting it to I-45 and the surrounding Houston MSA.


This unique opportunity allows investors the ability to acquire a leading tenant in The Woodlands, a fast-growing, highly affluent market, and in-demand market with zero landlord responsibilities.

...

Attributes

Asking price
CHF 2,787,000
Cap rate
5.75%
NOI
CHF 161,000
WAULT
20.7 years
Land area gross
0.93 ha
Building area gross
559 m²

Media

Investment Highlights

  • Ground lease with 20.7 years remaining, rent bumps every 5 years, and no LL responsibilities
  • Add - upcoming 10% rent bump in February 2025
  • Add - bank has $100M in deposits per the FDIC (confirm this)
  • Large 2.3 AC site with visibility to 30K cars per day
  • Major retail and medical corridor with leading national tenants and a Memorial Hermann hospital
  • Located in The Woodlands with 78% population growth since 2010 in a 1-mile radius
  • Impressive household income averaging $159K in a 1-mile radius
Stellar Bank - The Woodlands 4_Property for Sale
Stellar Bank - The Woodlands 4_Property for Sale

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Stellar Bank - The Woodlands (0 Properties)

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Last updated
12 Jun 2024