Historical Office Sale Listing - Bear Creek Office Building

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Bear Creek Office Building

4600 Highway 6 North, Houston, TX 77084

N/A

53,307 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
53,307 SF
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Investment
Cap Rate:
9.50%
Occupancy:
80%
Building Class:
B
Tenancy:
Multiple
Lot Size:
3.11 AC
Listing ID
16818640
Last Updated
over 1 year ago

Description

Bear Creek Office Building is a well-located Class B office building which is approximately 80% occupied. Two credit tenants, JPMorgan Chase and the Attorney General's Office, comprise nearly half of the occupied square footage under long-term leases. JPMorgan Chase (20.3% of NRA) carries a AA- credit rating and possesses a market cap of $166 billion. JPMorgan Chase's lease has approximately 11 years remaining with annual rent increases, providing an investor strong guaranteed cash flow. The State of Texas Attorney General's Office (17.6 of NRA) has been in existence since 1836 and is charged by the state constitution to defind the laws and constitution of Texas, represent the state in litigation, and approve public bond issues. Approximately eight years remain under its lease with rent increases during the term.

Situated conveniently between Interstate 10 and U.S. Highway 290 on State Highway 6, Bear Creek Office Building possesses a highly visible corner location in a major commercial area surrounded by retail and other commercial property types, where over 44,000 cars pass by everyday.

Map of 4600 Highway 6 North, Houston, TX 77084 (Harris County)

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Created 8/31/2010