HOUSTON—CBRE has been retained as the exclusive marketer for the NW Houston Industrial Portfolio, consisting of seven institutional quality buildings totaling more than 1.16 million square feet.
The highly functional buildings offer investors the opportunity to acquire a critical mass in Northwest Houston, the city’s premier infill location.
The 99% leased portfolio is located in Houston’s strongest and most dynamic submarket. The Northwest Industrial Park portion of the portfolio is situated in the industrial epicenter of Houston along the Highway 290 corridor, between Loop 610 and the Sam Houston Tollway. Park Ten Distribution Center is inHouston’s Energy Corridor, immediately off of Interstate 10 in the direct path of growth for Houston.
The Northwest industrial submarket boasts a vacancy rate of 4.1%, which is 120 basis points lower than the Houston average. The submarket experienced 1.8 million square feet of positive net absorption in 2013, and the year-over-year rent growth from year-end 2012 to year-end 2013 was 18.5%.
The NW Houston Industrial Portfolio offers major upside potential through contractual rent bumps and projected rent growth with a balanced rollover of below-market rents.
Jack Fraker, Josh McArtor, Jonathan Bryan, Heather McClain Venegoni, Tom Lynch and Paul Segretoof CBRE will market the NW Houston Industrial Portfolio along with the National Partners Team and Scott Lewis, an expert in CBRE’s Debt & Structured Finance group.