Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present for sale a 100% fee simple interest in the Ashford Office Portfolio (“the Portfolio”), a three building, 570,045 square-foot Class B office portfolio located in an irreplaceable location near the intersection of Dairy Ashford Rd and Interstate 10 in the heart of the Energy Corridor - Houston’s hottest leasing market. The portfolio benefits from superior access near Interstate 10 with visibility to over 300,000 vehicles per day. The Ashford Office Portfolio is situated at the epicenter of the westward migration of tenancy the greater Houston office market has observed over the last 12 - 18 months, as over 2.8M SF of leasing has occurred in West Houston since this time last year. With over $3.8 million invested by current ownership used to replace mechanical systems and complete common area upgrades, the portfolio is extremely well positioned to take advantage of the continued migration of tenants into the energy corridor as new ownership can focus capital towards leasing costs at a basis well below its competitive set. At the current 58.7% occupancy level, there is strong in-place yield with a WALT of 4.7 years. Additionally, the existing lender will provide a high LTV assumption and extension of the existing debt, further enhancing yields for new ownership.
- Offered at a Superior Basis, Significant Discount to Replacement Cost
- Well Maintained Portfolio with Significant Capital Investment
- Central Location Benefiting from a Wealth of Demand Drivers
- Positioned to Benefit from the Explosive Growth in West Houston
- Unparalleled Accessibility