JLL, as exclusive advisor to the owner, is pleased to offer for sale The Offices at Kensington (“the Property”), a two-building 171,055 square foot Class-A office portfolio located in one of Houston’s premier suburbs: Sugar Land. Situated on a spacious 9.55 acres, the Property is currently 84.1% leased, offering in-place cash flow coupled with a superb value-add opportunity through the lease-up of vacant space. Built in 1998, the Property is in excellent condition and features high-quality common areas, as well as an abundance of amenities within a short distance. The Offices at Kensington’s bullseye location near the intersection of Highways 6 & I-69 position the Property in the heart of Sugar Land, one of Houston’s most desirable residential suburbs, offering significant business incentives to operators in the City. Additionally, current ownership has invested over $7.6 million in the Property since 2018, giving new ownership the ability to focus their capital plan on leasing moving forward. The Offices at Kensington offer one of the most attractive suburban office opportunities in Houston due to its premier location, efficient floor plates, high-quality construction, and ideal Class-A environment with the greatest potential for future lease-up to multiple tenants.
- Durable Cash Flow with Attractive Yield and Upside Potential
- Diverse Rent Roll
- Historically Well-Occupied Asset
- Ideal Suite Sizes with Limited Large Tenant Exposure
- Institutional Quality Asset with Major Investment by Current Ownership
- Significant Discount to Replacement Cost
- Superior Walkability, Visibility and Accessibility