COMPASS INSTRUMENTS (TOMBALL, TX)
By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.
- Attractive 10.58% Day-One Cap Rate, With Year 3 Cap Rate In Excess of 11.2%
- Metal Construction Featuring Four Grade Level Doors And Climatized Assembly/Production Area
- New Three-Year Lease with Compass Instruments, Designing and Building Instrumentation for Oil and Gas Service Companies Since 1990
- 3% Annual Rental Increases On Initial Lease Term, With An Additional 3-Year Renewal Option At Fair Market Value
- Located In Tomball, TX, Just North of Houston, With Easy Access to Interstate 45, Highway 249, and The Grand Parkway
- Property Is Located In Immediate Proximity to BJ Services World Headquarters & Baker Hughes Western Hemisphere Corporate Education Center
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 321 South Persimmon Street in Tomball, Texas, leased to Compass Instruments. The subject property consists of approximately 13,750 square feet of space and is situated on 1.59 acres of land. The subject property features metal construction, 32 parking spaces, and four grade level doors. Compass Instruments will commit to a new three-year lease with 3 percent annual rental increases on the initial lease term. Compass Instruments has been designing and building instrumentation for oil and gas service companies since 1990. The subject asset is located just north of Houston with easy access to Interstate 45, Highway 249, and the Grand Parkway. The property is located in immediate proximity to BJ Services World Headquarters and Baker Hughes Western Hemisphere Corporate Education Center.
The North Freeway/Tomball Parkway Submarket has been one of the main beneficiaries of outward population growth in Houston this cycle. The submarket ranks in the top 10 among Houston-area submarkets for the amount of new supply added since 2010, and supply-side pressure has led to an increasing vacancy rate. The area continues to experience a flurry of new development, with 2.3 million SF of industrial space under construction as of 19Q4, ranking in the top five among Houston-area submarkets. (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.