3811 Fuqua Street
- 3811 Fuqua Street, Houston, TX 77047
- Property Type:
- Single Tenant
- Submit Offer
- Square Feet:
- 14,007 sqft
- Lot Size:
- 2.50 acres
- Year Built:
- 14,007-Square-Foot Single-Tenant Industrial Property
- 5 Grade-Level Doors (18’x15’)
- Property Sits on 2.5 Acres with Stabilized Concrete Yard for Outside Storage
- Both Office and Warehouse Space for a Variety of Different Uses
- Current Market Vacancy Rate Sits at 2.4% for a Tough to Enter Market
- 2019 Construction Allows for More Aggressive Asking Rental Rates for Re-Leasing
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3811 Fuqua Street in Houston, Texas. The subject property consists of approximately 14,007 square feet of flex space and is situated on 2.5 acres of land. The single-tenant asset features five grade-level doors, measuring 18’ by 15.’ With a stabilized concrete yard, the property can accommodate outside storage. As a new construction delivered in 2019, landlords can be aggressive with rental rates during re-leasing. Also, the property’s ample office and warehouse space allow for a variety of different uses.
The subject property is located within the Near South submarket of metro Houston. Over the last decade, industrial properties in Near South have largely enjoyed a stable and low vacancy rate, averaging just 3.4 percent and rising no more than 5.8 percent. The vacancy rate closed out 2021 at 2.4 percent and is projected to remain low, with only about 28,000 square feet currently under construction. Strong demand increased market rents by 4.8 percent last year, edging out 2015 for the highest increase in over 20-years. The average market rent of $6.89-per-square-foot gives industrial landlords in Near South a competitive edge in offering more than a 13 percent discount to the overall Houston market (CoStar).
As the fifth most populous metro area in the U.S., Houston houses nearly 6.9 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.