Park 10 Ninety Nine_Property for Sale
Park 10 Ninety Nine_Property for Sale
23623 Colonial Pkwy, Katy, TX, 77493-3456, US

Park 10 Ninety Nine

Asset description

Jones Lang LaSalle (“JLL”), on behalf of ownership, is pleased to offer qualified investors the opportunity to purchase the fee simple interest in 23623 Colonial Parkway (“the Property”), newly renovated, 765,702 SF dry & cold-storage facility located in in Katy, TX. The Property is comprised of cold storage warehouse, traditional distribution warehouse, and administrative space with critical capacity for food processing and distribution throughout Houston. 23623 Colonial Parkway offers a rare value-add opportunity via the ability to acquire 595,000 square feet of highly functional dry and cold distribution space while the remainder of the cold storage space is leased to a diverse group of food packaging and distribution

tenants that serve the greater Houston area. The Property showcases state-of-the-art cold storage infrastructure, including advanced temperature and humidity control systems, specialized storage areas, and cutting-edge technology for inventory monitoring and management.


Park 10 - Ninety Nine features a premier logistics location with immediate access to vital local and regional highways including Interstate 10 and Highway 99. The Property also provides extensive trailer and employee parking as well as low site coverage for potential future building additions.


23623 Colonial Parkway is a one-of-a-kind opportunity to purchase a well-located and highly functional cold storage facility in a market that is severely lacking cold storage product. The Property offers investors the ability to generate substantial value via lease-up of the vacancy and benefits from 4.8 years of weighted average lease term on the remaining cold storage component from a diverse group of tenancy specializing in produce distribution.

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Attributes

Building area net
765,702 sf
Occupancy
22%
Year built
1995
Year renovated
2023
Land area gross
63.65 acres
WAULT
4.8 years

Media

Investment highlights

  • Opportunity To Gain Scale In Cold Storage Market
  • Unique Large Scale Value-Add Opportunity In A Prime West Houston In-Fill Location
  • Irreplaceable Product Amid Rising Construction Prices
  • Premier West Houston Distribution Location
  • Significant Investment By Ownership
Park 10 Ninety Nine 4_Property for Sale
Park 10 Ninety Nine 4_Property for Sale

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Park 10 Ninety Nine (0 Properties)

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Last updated
May 16, 2024