Bernell & Associates Houston Portfolio

JLL is pleased to offer for sale the Bernell & Associates Houston Portfolio (the “Portfolio”). The Portfolio is comprised of 25 building totaling 469,051 square foot of light industrial in the Northwest and Southwest Houston industrial submarkets. This is a rare opportunity to acquire extremely infill shallow bay properties that have not changed ownership in decades and in some instances, having never changed entity ownership since property development.

Currently 99% leased with a 36%+ mark-to-market and a 1.1 year weighted average lease term, new ownership has the value-add opportunity to immediately grow NOI via converting the in-place gross leases to triple net and marking rents to market. The weighted average tenure for the 124 tenants (160 lease units) within the portfolio is an impressive 7.3 years. The bulk of these assets have been carefully maintained and operated by current ownership for over 30+ years. The infill Northwest and Southwest locations within and along Beltway 8 provide tenants immediate access to Houston’s rooftops and labor.

At over 450,000 square feet, the Bernell & Associates Houston Portfolio gives investors the opportunity to gain scale within one of the countries top performing industrial markets via the acquisition of highly functional light-industrial product priced well below replacement cost.