931 Silverado Trail
- 931 Silverado Trail, Rosenberg, TX 77471
- Property Type:
- Square Feet:
- 36,499 sqft
- Lot Size:
- 3.58 Acres
- Price Per Square Foot:
- Year Built:
- 36,499 Square Feet Situated on a Corner Lot of 3.58 Acres
- Flexible Space for Owner-User, Used for Both Industrial and Retail in the Past
- Located in the Center of Rosenberg, Near Interstate 90
- Ability to Pave Additional Space to Allow for More Outdoor Storage
- 9.15 Acres of Land Ideal for Development Near Center of Rosenberg
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 931 Silverado Trail in Rosenberg, Texas. The subject property consists of approximately 36,499 square feet of space and is situated on 3.58 acres of land. The asset features 9.15 acres of land that is ideal for development or can be easily paved to allow for additional outdoor storage space. Located near the center of Rosenberg, the flex property is ideal for owner-use and was previously occupied by both industrial and retail tenants. With proximate access to Interstate 90, the property is conveniently situated along a railway in the Far Southwest submarket.
Located about 30 miles southwest of Downtown Houston, Far Southwest has undergone significant population growth over the last decade that has supported the local industrial and retail markets. Despite the pandemic, the retail vacancy rate sits at just 6.0 percent, with market rents growing at 2.4 percent annually. At $265, the market sale price per-square-foot sits at a historically high rate, suppressing market cap rates to a record low of 6.6 percent. In recent years, Grand Parkway has attracted multiple retail developments such as the District West, a $250 million mixed-use development that upon build-out will house roughly 500,000 square feet of retail, restaurant, office, healthcare, and hospitality developments. On the industrial front, vacancy rates have fallen by 5.5 percentage points over the last year to 9.0 percent. Since the start of the year, the annual growth rate for industrial rents has risen steadily to 2.9 percent. Far Southwest industrial tenants consist both of large manufactures, such as Niagra (207,000 square feet) and Dow Chemical (200,000 square feet), and retailers like Dollar Tree (1.2 million square feet) and Amazon (1 million square feet) (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.