Jones Lang LaSalle (“JLL”), on behalf of ownership, is pleased to present the opportunity to purchase the fee simple interest in Highland Grove Industrial Park (the “Property”), an 87.4% leased, 656,973 square foot industrial park in Houston, TX. Situated within a 70-acre master planned business park, the Property is comprised of three Class-A industrial buildings located in Houston’s Northwest submarket. The Property is highly accessible with direct access to Highway 290, Houston’s major northwest thoroughfare providing exceptional regional connectivity to the Houston MSA and beyond. Highland Grove is surrounded by major population cores and rapidly growing master planned communities with over 300,000 residents within a 5-mile radius.
The investment opportunity presents stable in-place cash flow from best-in-class tenants with future upside potential through the lease up of the remaining 82,587 square feet of vacancy. With a mark-to-market rent opportunity of 9.2% and 4.4% contractual NOI growth over the first three years, Highland Grove offers investors the opportunity to acquire institutional quality industrial product with 8.2 years of WALT in Houston’s most preferred submarket.
· Highway 290 Corridor Leasing
· Institutionally Preferred Submarket
· Class-A Institutional Product
· Premier Northwest Houston Location
· Significant Access to Labor
· Secure Cash Flow With Leasing Upside
· Explosive Regional Population Growth