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|Building Area Net||
|Call for Offers||2022-03-09|
JLL is pleased to offer for sale Willowbend Business Park (the “Property”), an eight-building rail-served industrial park totaling 654,352 square feet. The Property is located within Houston’s southwest submarket at the corner of Willowbend Boulevard and Highway 90, just one mile south of Loop 610 (Houston’s inner loop) and three miles from the Texas Medical Center, the world’s largest medical center. The two anchor tenants, Chempak International and Iron Mountain, have each leased space at the Property since the late 1990’s and will soon compose 44.9% of the net rentable area onsite after reconfiguring their footprint at the Property within the past 18 months and renewing for 10 and 5 years respectively. As of November 2022, the property will be 73.2% occupied with 6.0 years of WALT from the existing tenant base, providing buyers with a unique opportunity to add value via lease-up of the vacancy while simultaneously receiving reliable in-place cash flow from a roster of dedicated tenants.
· Highly Committed Tenancy
· Premium Infill Location
· Texas Medical Center Proximity
· Value-Add Opportunity Via Lease-Up and Mark-to-Market Strategy
· Outstanding Micro-Market Performance