10030 Bent Oak Dr
Bent Oak Drive 10030, Houston, TX, 77040, US
15,680 m²
JLL capital markets, on behalf of ownership, is pleased to offer qualified investors the opportunity to purchase the fee simple interest in 2425 Broad St ("the Property"), three front-load industrial assets totaling 200,297 square feet located in Houston's South inner loop submarket. The Property is 100% leased to three tenants with 3.7 years of weighted average lease term remaining and a 25%+ mark-to-market opportunity at lease expiration. Situated within Loop 610 at Interstate 45, the Property's superior infill Houston location is proximate to The Port of Houston and is well positioned to capitalize on the robust rent growth the city has experienced as a result of the aggressive TEU growth seen at Houston's two container terminals, Barbour's Cut (21 miles) and Bayport (23 miles). The Port of Houston is the 5th largest container terminal in the Unites States and experienced 15% year-to-date growth in total TEU volume in the first quarter of 2024 and a 27.4% increase in TEUs from 2020 (which is the largest growth rate seen across all U.S. Ports).
The location offers tenants easy access to Highway 146 via Hwy 225 enabling connectivity to the Houston Ship Channel and both container terminals. Direct connectivity to Loop 610 and Interstate 45 also offer excellent access to the broader Houston MSA as well as regional connectivity. Currently 100% leased, the opportunity offers potential investors the value-add opportunity to acquire a highly functional infill asset priced well below replacement cost and capitalize on steady in-place cash flow with the continued ability to mark rents to market.