Houston, TX - Velvet Taco

Description:

• The tenant has 10+ years remaining on its lease with 2 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years of the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation

• The subject property is located adjacent to the Houston Galleria, which attracts over 30 million visitors annually, and features several national tenants such as Apple, Neiman Marcus, Macy’s, and many more
• The site is located directly off of Interstate 610, which averages over 203,500 vehicles passing by daily
• Strong tenant synergy promotes crossover shopping to the subject property