Industrial & Logistics

Willowbend Distribution Center II

11502 Main St11502 S Main St Houston, Texas United States 77025-5910
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Attributes

Year Built 1975
Building Area Net
Occupancy 100.0 %

Asset Description

JLL is pleased to offer for sale Willowbend Distribution Center II (the “Property”), a 100% leased multi-tenant 100,866 SF light industrial property with 3.9 years of WALT. The property is located within Houston’s Southwest Submarket near the corner of Willowbend Boulevard and Highway 90, just 1-mile south of Loop 610 (Houston’s inner loop) and only 4 miles southwest of the Texas Medical Center, the largest medical center in the world.

At 100% leased and with a weighted average lease term of 3.9 years, Willowbend Distribution Center II offers secure cash flow while also presenting an extremely attractive value-add opportunity. Average in-place rent today ($5.38/sf/yr) are currently 9% below market with a 18%+ mark-to-market opportunity upon lease expiration. While the existing rent roll consists of a dedicated tenant roster, new ownership has the immediate ability to mark rents to market as the first expiration occurs within one year of the hold period, offering optionality in releasing the space to a new tenant or renewing Iron Mountain at current market rates.


Willowbend Distribution Center II presents desirable variability in both hold period and investment strategy optionality by offering a reasonable WALT, the immediate ability to roll current rents to market, an infill location within one of the country’s hottest industrial markets with continually improving fundamentals, and desirable product that features committed tenancy.

Investment Highlights

·    Irreplaceable Industrial Product Amid Rising Construction Prices

·    Distribution Center Within The Texas Triangle

·    Shallow Bay Product Outperforming Class A Industrial

·    Highly Committed Tenancy

·    Record-Breaking Leasing Activity & Fundamentals

·    Secure Cash Flow With Significant Upside Potential Upon Rollover

·    Houston: Nation Leading Growth

Last Updated Date: 09 Sep 2022

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Last Updated Date: 09 Sep 2022

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