Wagg Way Class-A Manufacturing Portfolio

JLL Capital Markets, on behalf of the seller, is pleased to offer qualified investors the opportunity to acquire a fee simple interest in The Wagg Way Class-A Manufacturing Portfolio (the “Two-Pack” or “Portfolio”) located in the highly desirable Northwest Houston submarket. The Portfolio features two, Class-A front-load manufacturing buildings totaling 63,250 square feet located adjacent to the intersection of Highway 290 and Highway 6. The exceptional infill location with immediate access to Highway 290 and minutes away from the Grand Parkway and Beltway 8 positions the Two-Pack to cater towards Houston’s manufacturing tenant base while also providing regional connectivity to the Texas Triangle.

The Portfolio is comprised of two single-tenant buildings and occupied by Continuum Powders and Odessa Pumps. Continuum Powders has invested approximately $3,000,000 of their own capital into their building which is approximately 70% HVAC coverage, has excess (3,000 amps) power, and specialized gas storage on the paved outdoor portion of the site.

Odessa Pumps has two 10-ton cranes which serves the entire clear span building as well as a truck well, paint booth, and a ½ acre of paved yard. The buildings feature a remaining weighted average lease of 3.4 years and average annual escalations of 3.25%. The Portfolio offers investors a secure cash flow via contractual rent bumps with the ability to benefit from the 1.3% overall vacancy and continued outsized rent growth in Houston’s highly competitive manufacturing market.