Under Contract I Milwee Business Park

Description:

Colliers is pleased to exclusively offer to qualified investors the opportunity to acquire 4901 Milwee, a Class B shallow-bay asset located in infill, Northwest Houston just 0.6 miles from U.S. 290.

The 38,706 SF, 2-building park is currently 91% leased and offers an investor the opportunity to invest in strong existing cash flow that offers a value-add opportunity with limited capital expenditures.




Investment Highlights:


•    Infill Location: Asset’s infill location positions it in close proximity to population hubs and major thoroughfares like U.S. 290 and the 610 loop
•    3 Year Stabilization Window: 21 months of WALT
•    Below Market Rents: In-place rents are 20% below market; see cash flow assumptions on page 11
•    Limited CapEx Required: The asset has received a significant amount of capital improvements, including all deferred maintenance issues, and a majority of suites are fully renovated
•    Existing Cash Flow: At 91% occupancy and a majority NNN leases, the asset offers stable cash flow with a mark-to-market lease up opportunity
•    Strong Fundamentals: Shallow bay and small suite multi-tenant industrial assets seeing significant rent growth and occupancy with no competing assets under construction within the competitive trade area

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