Bernell & Associates Houston Portfolio_Property for Sale
Bernell & Associates Houston Portfolio_Property for Sale

Bernell & Associates Houston Portfolio

Houston, TX, US, Americas

Portfolio description

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.

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Attributes

Building area net
43,576 m²
Occupancy
99%
Number of buildings
25
WAULT
1.1 years
Investment strategy
Value Add
Bernell & Associates Houston Portfolio (6 Properties)
Bernell & Associates Houston Portfolio (6 Properties)

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Investment Highlights

  • Long Standing Tenant Commitment
  • Optimal Long-Term Net Lease Structure
  • Unique Opportunity Among the Country's Hottest Leasing Market
  • Above Market Parking Capabilities
  • Class A Quality with Significant Tenant Investment
  • Substantial Discount to Replacement Cost
Bernell & Associates Houston Portfolio 4_Property for Sale
Bernell & Associates Houston Portfolio 4_Property for Sale

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Last updated
8 Apr 2025