SIX TEN EAST (HOUSTON, TX)
By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.
• REQUEST FOR OFFER – OFFERS DUE FEBRUARY 14, 2020
• Last-touch industrial, full park offering, infill Houston location (7.0 miles from CBD)
• Offering accounts for 100% of the submarket’s viable shallow-bay stock
• 100% leased to diverse tenant mix – in-place rents 30% below market
• Nearly 50% of the Portfolio rolls in the first year, allowing future owner to increase NOI by renewing tenants at market rates, providing a hedged value-add return profile
• Prime opportunity for an investor to gain an immediate infill presence in the high barrier to entry infill Houston industrial market
• Institutional quality construction, available below replacement cost
• Building depths allow for shallow-bay lease-up offering flexibility for future tenants
• 26’ clear heights, well docked, with immediate Interstate 610 access
Marcus & Millichap is pleased to present Six Ten East (“the Portfolio” “610 E”), located in dense, infill Houston, Texas. This is an extraordinary opportunity to purchase a true value-add infill industrial asset located within a tier-1 market. Consisting of two highly functional, fully leased, light industrial buildings totaling 109,239 square feet, the Portfolio is located within Houston’s NE Hwy 90 submarket. Extreme barriers to entry, deep and affordable labor bases, and streamlined multi-directional highway connectivity have driven light industrial demand throughout infill Houston. Resulting lack of availability in the immediate vicinity continues to drive rental rates, providing tremendous yield upside within the Portfolio.
The Portfolio is currently leased at a significant discount to market rates, with staggered, near-term lease expirations. The Portfolio provides future investors the unique opportunity to enhance yield with limited exposure to downside risk due in part to demand and historical occupancy levels well above the national average.