Northwest Spur Industrial Park

JLL Capital Markets on behalf of Ownership (the “Seller”), is pleased to offer qualified investors the opportunity to acquire Northwest Spur Industrial Park (the “Property”). The Property is a 1,010,912 square foot, six building, infill industrial business park in Houston, Texas. Located in the leading Northwest submarket, the Property sits in Houston’s A+ infill industrial corridor along Highway 290 and Hempstead Highway with unmatched connectivity to Beltway 8 and Loop 610.

The Property is 100% occupied by 14 diverse tenants with 3.8 years of weighted average lease term remaining and boasts an impressive 16.9 year weighted average tenure. Polytex Fibers, and its sister company, Superbag Operating, are the largest tenants in the park, occupying 57% of the Property. These tenants specialize in the manufacturing of consumer packaging for major retailers, with one of their largest customers being HEB. This park is strategically advantageous for them as they are only 1.5 miles from a primary HEB distribution enter. Their 30-year history at this site, marked by four separate expansions within the Park, and significant capital investment into their space demonstrates a deep and continued commitment to the location.

Five out of the six buildings are directly served by a Union Pacific rail line, creating specialized and consistent tenant demand. As new construction trends toward “big box” development, unique shallow-bay product in land constrained locations are increasingly rare and difficult to replicate, insulating it from new supply.

Northwest Spur Industrial Park offers immediate upside as 50% of leases expire within the first four years. With a 23%+ average mark-to-market opportunity, new ownership can capitalize on the robust rent growth occurring in the Houston industrial market.