LA Porte, TX - Spec's

Description:

• Long-term NNN Lease – 8 years remain on an original 10-year lease with an additional 2 (5-year) options
• Rent increases every 5 years provide a hedge against inflation
• Tenured and Successful Corporate Operator – Spec’s Wine, Liquor & Finer Foods has become a premier liquor store in Texas with a 62-year history and ~200 locations throughout the state and growing
• Limited Competition - grocers are not permitted to sell spirits in the state of TX
• Densely Populated and Affluent Trade Area – located in Harris County (Houston-Sugar Land-Baytown MSA) with over 112,000 residents within 5 miles with an average household income over $121,000, projected to increase to $136,000 by 2028
• Strong Traffic / Excellent Visibility – located on West Fairmont Parkway with over 33,800 vehicles per day
• Located across the street from the Bayport Industrial District, a 12 square-mile / 8,500-acre industrial .complex home to 27 global companies and over 2,260 employees
• 3.5 miles east of San Jacinto College (Central), with over 15,000 students
• Recession-proof tenant with year-round demand from residents and
employees in the immediate trade area
• Texas is a tax-free state