Marcus & Millichap is pleased to present the opportunity to acquire the portfolio located at 950 to 1050 North Pine Road in Texas City, Texas. The subject property consists of approximately 20,516 square feet of industrial space and is situated on 4.35 acres of land. The seven-building asset features a clear height of 16’, 14 grade-level doors (two per building), three-phase power, six HVAC units, and 70 parking spaces. With a building coverage ratio of 11 percent, the property maintains ample industrial outdoor storage space (IOS). Located just off Emmett F Lowry Expressway, the property has direct access to Houston and proximity to Galveston both via Interstate 45. Fully leased with multiple leases expiring within the next two years, this property offers investors an income-generating asset with a lease-up opportunity.
The subject property is located in East-Southeast Far, one of the largest submarkets in the U.S. with 117.2 million square feet of industrial space. The submarket is home to the Port of Houston, the nation’s leading port for waterborne tonnage. In 2024, East-Southeast Far experienced 3.6 million square feet of net absorption but was outpaced by 5.6 million square feet of net deliveries. As a result, the vacancy rate in East-Southeast Far increased by 120 basis points to 9.5 percent. However, among comparable properties up to 50,000 square feet, the vacancy rate remained in low territory at 4.9 percent. The increase in availability across East-Southeast Far put downward pressure on rents as the annual growth rate decelerated from 5.2 percent to 1.3 percent, pushing the average market rent to $8.90 per square foot. With 3.1 million square feet under construction in the East-Southeast Far submarket during Q1 2025, representing 2.6 percent of inventory, the impact of new supply on rents and vacancies will likely diminish in the near term (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. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0160074)
