SIX TEN EAST (HOUSTON, TX)

MULTI TENANT

8207, 8307 N LOOP EAST FREEWAY, HOUSTON, TX 77029
Year Built :
2000
Property Area :
109,239 sqft
Status :
PENDING CONTRACT
MARKETING PACKAGE

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

 

Investment Highlights

• 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

 

Investment Overview

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.

 

Adam Abushagur
First Vice President
+1 972 755 5223
adam.abushagur@marcusmillichap.com
Cary Latham
Associate
+1 713 452 4301
cary.latham@marcusmillichap.com
Robert Filley
First Vice President
+1 202 536 3736
bfilley@ipausa.com
Robert Bechtel
Senior Associate
+1 202 536 3741
rbechtel@ipausa.com
Nick Lore
Associate
+1 704 831 4643
nick.lore@marcusmillichap.com
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.

Exclusive Listing

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

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