Setpoint I Freeport

Description:

Single-Tenant Net Lease Investment


Colliers is pleased to exclusively offer to qualified investors, the opportunity to purchase the Setpoint industrial facility, located in Freeport, Texas.


The Freeport facility consists of a ±28,200 SF industrial warehouse building built in 2013 and is situated on ±4.99 acres and currently has a 9+ year term remaining. This facility is available for purchase individually or as a 2 property portfolio to include the sister property in
Corpus Christi, Texas.



Investment Highlights
Long-Term Lease: Tenant has renewed a second 10-year lease with 9+ years remaining showcasing commitment to the location
Passive Ownership: Landlord responsibilities limited solely to Roof and Structure
Build-To-Suit Facility: This crane-served property was a build-to-suit for Setpoint in 2013
Optimal Market for Tenant’s Business: The presence of major refining, petrochemical and LNG facilities in close proximity provides Setpoint with a long-term and stable customer base
Strong Regional Credit: Setpoint has operated in this market since 2013 and is a $300 million revenue company with 11 locations along the gulf coast markets
Growing Port Market: This location features frontage on State Highway 288, the major thoroughfare that services Port Freeport. The port ranks 6th in the U.S. for chemical exports
Dow Chemical: Dow’s Chemical facility in Freeport is the largest facility of it’s class in the western hemisphere and Setpoint’s largest market client
Excess Land/Expansion Potential: The property features excess land of 2.27 acres allowing for future expansion or additional stabilized yard

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