CENTRALCREST STREET OFFICE WAREHOUSE (HOUSTON, TX)
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- Property Consists of One Warehouse With Detached Two-Story Class B Office Building and Single-Story Class B Office Building
- High-Demand Submarket: Historical Vacancy Rate Within Submarket Over Previous Decade was 5.18%, with 1.92% Average Annual Rent Growth
- Heavy Power: 3 Phase/ 480 Volt / 800 Amps
- Property Can Be Easily Subdivided and Configured Into Multi-tenant Building, Allowing New Owner To Lease All or Some Portion of the Space to Multiple Tenants\
- Fully Insulated and Climate-Controlled Main Warehouse Bays
- Owner Reported 2019 Renovations on 5730 Centralcrest Include: Multiple HVAC Units Replaced, Stucco Repaired, Exterior Painted, and Parking Lot Restriping
- Warehouse Features +/-13,600 SF of Gated and Fenced Concrete Lay Yard For Outside Storage
Marcus & Millichap is pleased to present the opportunity to acquire the properties located at 5710 & 5730 Centralcrest Street in Houston, Texas. The subject properties, situated on a total of 1.46 acres, consist of two structures: The first being a one-story, Class B office building, totaling approximately 1,975 square feet. The asset features gated access with parking lot access on both Centralcrest Street and Antoine Drive. The building has four private offices, two private bathrooms, a conference room, and a receptionist area. The property has been well-maintained and is in move-in ready condition.
The second structure consists of a multi-bay warehouse with a detached two-story, Class B office building. The owner reported numerous 2019 renovations on 5730 Centralcrest which include: stucco repair and exterior paint, parking lot restriping, multiple replaced AC units, and make-ready interior renovations. The main warehouse bays are fully climate-controlled and insulated, with recent HVAC unit replacement. The asset features heavy power: 3-phase/480 volt/800 amps, and has approximately 13,600 square feet of gated and fenced concrete lay yard for outside storage or additional parking. The property can be easily subdivided and configured into a multi-tenant building, allowing a new owner to lease all or some portion of the space to multiple tenants. The asset is located in a high-demand submarket with a historical vacancy rate of 5.18 percent and 1.92 percent average annual rent growth over the past decade.*
The Northwest Inner Loop Submarket’s strategic location near highways such as I-10, U.S. 290, and Beltway 8, aids its significant logistics presence—particularly lastmile—and developers have continued to add newer facilities this cycle. That growth subsided over the past three years, but that was only after developers added about 1 million square feet of newer, high-quality industrial space in the earlier part of the cycle. The area’s attractive location is close to the urban core of Houston.
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.