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Brownsville, TX

Martex Fiber

Address:
4656 Towerwood Drive, Brownsville, TX 78521
Property Type:
Single Tenant
Price:
$3,650,000
Cap Rate:
6.00% cap
NOI:
$219,173
Square Feet:
58,418 sqft
Lot Size:
5.34 acres
Price Per Square Foot:
$62.48
Year Built:
1997
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Investment Highlights

Investment Highlights

Investment Highlights

• 58,418 Square-Foot Manufacturing Asset Situated on 5.34 Acres
• Excess Land for Further Development and Outside Storage
• Highly Functional Asset: 20’-30’ Clear Height, Eight Dock-High Doors, and Eight Grade-Level Doors
• 100% Occupied with 12 Years Remaining on the Lease and Four, 5-Year Renewal Options
• Absolute Triple-Net Lease, Minimizing Landlord Responsibility
• Strategically Located Industrial Warehouse with Proximate Access to Major Freeways

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4656 Towerwood Drive in Brownsville, Texas, leased to Martex Fiber. The subject property consists of approximately 58,418 square feet of space and is situated on 5.34 acres of land. The asset features excess land for further development and outside storage. With 20’-30’ clear heights, eight dock-high doors, and eight grade-level doors, it is a highly functional asset. The property is 100 percent occupied with 12 years remaining on the lease and four 5-year renewal options. The absolute triple-net lease in place minimizes landlord responsibility. This strategically located industrial warehouse has proximate access to major freeways.

Greater Brownsville is a prominent Brownsville-Harlingen submarket, containing about 9.3 million square feet of industrial space, which is more than half of the metro’s total industrial pool. Over the past five years, the submarket has posted net absorption of about 140,000 square feet per year, on average. Rents grew by 3.8 percent over the past year, which is in line with the impressive decade-long annual average in Greater Brownsville. This has been a somewhat active submarket for industrial transactions in recent years. (CoStar)

The City of Brownsville is the largest city in the Rio Grande Valley with a population of approximately 185,000. It covers nearly 150 square miles and has some 350 miles of paved streets. With an assessed valuation of more than $7.5 billion, the city has nearly quadrupled its wealth in the past 15 years. Brownsville is proud of our past and annually hosts thousands of tourists who not only take in the history but the climate and proximity to Mexico as well. (cob.us)

The Port of Brownsville is the only deepwater port located on the U.S.-Mexico Border. With approximately 40,000 acres of land available for development and 17 miles of waterfront access, the port offers a direct route to non-congested international bridge crossings and rail connections. The Port of Brownsville handles a wide variety of cargo including steel products, liquid, break bulk, and dry bulk commodities. (portofbrownsville.com)

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. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAC0060089)