Ashford 5, 6 & 7_Property for Sale
Ashford 5, 6 & 7_Property for Sale
14701 St. Mary's Lane, Houston, TX, 77056, US

Ashford 5, 6 & 7

Portfolio description

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.

...

Attributes

Building area Net
569,583 sf
Occupancy
59.00%
Year built
1980
Land area Net
7.90 acres (344,124 sf)
Ashford 5, 6 & 7 (3 Properties)
Ashford 5, 6 & 7 (3 Properties)

Media

Investment highlights

  • 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
Ashford 5, 6 & 7 4_Property for Sale

Contact brokers

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Aug 8, 2023