This property is Off-Market

1805 Greens Rd.
Houston, TX 77032 ·

500,290 SF · Industrial For Sale

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Walgreens Distribution Center

Price N/A Occupancy 100%
Building Size 500,290 SF Tenancy Single
Property Type Industrial Year Built 2008
Property Sub-type Distribution Warehouse Clear Ceiling Height 32 ft.
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 24.45 AC
Construction Status Under Construction/Proposed Features
  • Trailer Parking
  • Electricity/Power
  • Sprinklers
Cap Rate 6.50%
Listing ID: 15577994 Date Created: 02/22/2008 Last Updated: 04/25/2008

Description

ACT QUICKLY! Bids are due Friday, February 29th. If interested, please sign and submit Confidentiality Agreement attached to this listing.

The Staubach Company has been retained as the exclusive listing agent for the sale of a Walgreens build-to-suit, state-of-the-art distribution facility in Houston, TX. The estimated date of completion is late summer 2008. This asset represents an investment opportunity in a brand new, Class A distribution building leased by an outstanding investment grade credit company. With a credit rating of A+, Walgreen Co. is a superior tenant. The 10-year lease is absolute net and includes renewal options. This investment is extremely attractive to buyers who require superb credit with a dependable income stream.

The 500,290 square foot facility is currently under construction adjacent to the Central Green Business Park a high growth light industrial area near George Bush Intercontinental Airport.

Highlights

  • BIDS DUE BY FRIDAY, FEBRUARY 29TH
  • Single Tenant, Absolute Net Lease, A+ Credit
  • 10 Year Lease with two 5-year renewal options
  • Annual Rent: $3.11/SF / NOI: $1,558,000
  • Class A, State-of-the-Art Facility
  • Prime location near George Bush International Airport

Utilities

  • Trailer Parking
  • Electricity/Power
  • Sprinklers

Research

1805 Greens Rd., Houston, TX 77032 (Harris County)

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