PortNorth 59

JLL capital markets, on behalf of ownership, is pleased to offer qualified investors the opportunity to purchase the fee simple interest in PortNorth 59 ("the Property"). Located in Houston’s Northeast submarket, the Property is a newly constructed, 462,250 square foot cross-dock industrial asset. The Property delivered in 4Q 2024 and is 100% leased to Marsden Services for 5.0 years with 3.75% annual rental escalations and Tecnofil USA for 10.3 years with 3.50% annual rental escalations. With an excellent location right off Interstate-59, the Property is well positioned to capitalize on the robust rent growth the Northeast submarket has experienced shrinking vacancy each year since 2020. The property is adjacent to George Bush International Airport and conveniently located just 3.7 miles away from the terminals. The close proximity to the airport, which handles more than 1,100 metric tons of cargo per day, caters towards national and global tenants using intermodal transport logistics.

The location offers tenants easy access to Interstate-59 and Beltway 8 enabling connectivity to the broader Houston MSA. The opportunity allows investors to acquire a newly constructed Northeast Houston asset and capitalize on a significant long-term cash flow via attractive 3.50-3.75% annual rental escalations.