Description

JLL Capital Markets on behalf of Ownership (the “Seller”), is pleased to offer qualified investors the opportunity to acquire Harms Road Crane-Served Portfolio (the “Property” or “Portfolio”). The Property is a 125,000 square foot, five building industrial business park in Houston, Texas. Located in the leading Northwest submarket, the Property sits in Houston’s A+ industrial corridor along Highway 290 and Spencer Rd with quick access to Beltway 8.

The Property is composed of five single-tenant manufacturing buildings 100% occupied by five diverse tenants with 2.4 years of weighted average lease term remaining. All five tenants have crane infrastructure in their spaces with a total of 25 cranes among the five buildings . The Property’s strong manufacturing components are scarce to find due to the on shoring revolution. In Houston, the manufacturing space is extremely tight at 2.4% vacancy and will continue to stay tight given only 3.6% of the total industrial product under construction is manufacturing. Additionally, the Harms Road Crane-Served Portfolio offers investors immediate upside with one tenant expiring in the first year and the remaining tenancy rolling in the first four years. With a strong 19.24% average mark-to-market opportunity upon expiration, new ownership can capitalize on the robust rent growth occurring in the Houston industrial market.

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