CENTRALCREST INVESTMENT PORTFOLIO (HOUSTON, TX)

MULTI TENANT

1031 EXCHANGE BUYER
Lot Size :
3.74 acres
Year Built :
1997
Property Area :
49,100 sqft
Status :
RECENTLY SOLD

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• Close Proximity to Loop 610, Highway 290, I-10, and Hempstead Highway
• Annual Rental Increases on All Leases
• Shortest of Current Leases Does Not Expire Until 10/31/2021
• Lower Rents Offer Value-Add Opportunity
• Historically Low Submarket Vacancy of 5.03 Over Past 10 Years*
• Sale Includes Extra +/-32,000-Square Foot Lot

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Centralcrest Investment Portfolio located in Houston, Texas at:
5805 Centralcrest Street
5805-A Centralcrest Street
5902 Centralcrest Street
5922 Centralcrest Street
5921 Centralcrest Street

The subject property consists of five buildings, totaling approximately 49,100 square feet, and is situated on a total of approximately 3.74 acres of land. Built in 1997, the assets are in close proximity to Loop 610, Highway 290, Interstate 10, and Hempstead Highway. There are annual rental increases on all leases, with the shortest of the current leases expiring in October 2021. The below-market rents offer a value-add opportunity in a submarket with a historically low vacancy rate of 5.03 percent over the last decade. The sale of Centralcrest Investment Portfolio includes an extra 32,000-square foot lot of land, and all properties must be sold together as a package.

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.

 

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. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: ZAA0060286)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916
Cary Latham
(713) 452-4301
Lic # TX : 703358

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