NOVOZYMES BIOAG, INC. (Houston)

SINGLE TENANT

12320 CUTTEN ROAD, HOUSTON, TX 77066
Price :
$ 1,400,000
Cap Rate :
9.38%
NOI :
$ 131,260
Lot Size :
1.50 acres
Year Built :
2011
Property Area :
10,000 sqft
Status :
UNDER CONTRACT
MARKETING PACKAGE

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

 

Investment Highlights

• 10,000-Square-Foot Research and Development Facility

• Two Years Remaining on 10-Year Lease with No Renewal Options: Allows for Investor or Owner/User

• Publicly Traded Tenant “Novozymes” Had 2018 Sales in Excess of $2.2 Billion

• 3 Percent Annual Rental Escalations Throughout Lease

• Close Proximity to SH 249 and Beltway 8 in Deed Restricted Business Park

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the Novozymes BioAg, Inc. property located at 12320 Cutten Road in Houston, Texas. The research and development facility consists of approximately 10,000 square feet and is situated on approximately 1.5 acres of land. Built in 2011, the subject property is in close proximity to SH 249 and Beltway 8 in the deed
restricted Cutten Green Business Park. Publicly traded tenant “Novozymes” had 2018 sales in excess of $2.2 billion and was recently ranked the third most innovative company in the world in the field of biotechnology by the European Patent Office. Novozymes has two years remaining on a 10-year lease with three percent annual rental escalations. Novozymes BioAg, Inc. is located in the
North Freeway/Tomball Parkway Industrial submarket, which has experienced a 7.8 percent decrease in submarket vacancy rate year over year. Novozymes currently employs over 1,200 people across the United States and Canada, in 11 different facilities. The subject property is the only facility operating in the state of Texas, with the next closest location in Blair, Nebraska. This geographical positioning, coupled with their extensive bio agricultural laboratory buildout at this location, indicate that Novozymes has long-term plans to continue operating at this facility.

Novozymes works with innovative customers across the globe, helping them produce more from less, make their products stand out, and reduce costs. Since 2000, they have brought more than 100 new molecules to market to address specific industry and customer challenges. Novozymes accounts for two-thirds of the entire global investment in developing enzymes, and dedicate 13 percent to 14 percent of their total revenue to R&D. With 48 percent market share in industrial enzymes, they deliver bio innovation to 130 countries, and operate across North America, South America, Europe, and Asia. They ranked top 10 in Science Magazine’s global Top Employer Survey for three years running. Novozymes measures the success of their purpose and strategic focus areas using a number of financial and non-financial long-term targets. These ambitious targets reflect the belief that the use of biological solutions will have a real and positive impact on the world (Novozymes.com/en).

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: ZAA0060088)

Exclusive Listing

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

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