Marcus & Millichap is pleased to present the opportunity to acquire the property located at 10038 Talley Lane in Houston, Texas. The subject property consists of approximately 14,175 square feet of warehouse space and is situated on 0.76 acres of land. The two-building asset features five grade-level doors, a clear height of 15’, and metal construction. For sale as vacant, this sale offers buyers an owner-user or lease-up investment opportunity. Located near the exchange between Beltway 8 (Sam Houston Tollway) and U.S. Route 290, the property is well-positioned in the Northwest Inner Loop submarket.
Northwest Inner Loop is Houston’s second-largest industrial submarket with 63.7 million square feet of space. During the second quarter of 2024, the vacancy rate in Northwest Inner Loop dropped 40 basis points to 4.9 percent, comfortably below the 6.6 percent national average. After five straight quarters of negative net absorption, demand for Northwest Inner Loop space turned positive in Q2. Despite the rebound in demand, annual rent growth continued to slow to just 2.0 percent as average rents fell slightly to about $8.60 per square foot. Due to its proximity to Downtown Houston, Northwest Inner Loop has experienced very little growth over the last decade and there were only 153,000 square feet of industrial space under construction going into the second half of 23024 (CoStar).
As the fifth most populous metro area in the U.S., Houston houses over seven million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houston’s economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houston’s population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0040389)
