1776 Yorktown_Property for Sale
1776 Yorktown_Property for Sale
1776 Yorktown St, Houston, TX, 77056-4182, US

1776 Yorktown

Asset Description

JLL Capital Markets, as exclusive advisor to the owner, is pleased to present for sale a 100% fee simple interest in 1776 Yorktown ("the Property"), a Class B office asset totaling 178,952 square feet located on Yorktown St. near the intersection of Yorktown St and San Felipe St. Strategically situated in the heart of the coveted Galleria submarket, 1776 Yorktown boasts close proximity to Houston's most coveted Galleria locations and high-income residential neighborhoods.


The Property has been maintained to institutional-level quality with over $2.4M invested by the current ownership for chiller, boiler and cooling tower replacement, lobby and common area upgrades, roof replacement and DDC automation control upgrades and is being offered at an extremely attractive basis from both a building and covered land perspective. Over the past eight years through Jan 31, 2024 when a major tenant occupying over 100k SF moved out, the 1776 Yorktown’s historical occupancy averaged 94%. Since then the Property has already gained momentum with several new leases.


Offered at a significant discount to replacement cost, the basis of the Property will be reset to a fraction of its competition and allow an investor the opportunity to lease the vacant space at rental rates and deal term structures that other buildings will not be able to match. 1776 Yorktown represents a unique chance to acquire a valueadd asset in one of Houston's most highly sought-after institutional submarkets at an unbeatable basis.

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Attributes

Building area net
178,952 sf
Year built
1976
Land area net
2.74 acres
Number of floors
9 floors
Occupancy
42.1%
Parking spaces
667
Building class
B
Investment strategy
Value Add
WAULT
3.5 years

Media

Investment Highlights

  • Unique In-Fil Value-Add Opportunity Offered at a Superior Basis
  • Ideal Floor Plates and Suite Sizes for Tenants in the Market
  • Amenity Rich Environment with a Premier Location
  • Significant Investment by Ownership
  • Prime Infill Location
  • Institutionally Preferred Submarket for Houston Office Investors
1776 Yorktown 4_Property for Sale
1776 Yorktown 4_Property for Sale

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1776 Yorktown (0 Properties)

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Last updated
11 Mar 2024