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Jones Lang LaSalle (“JLL”), on behalf of ownership, is pleased to offer for sale Southwest Commerce Center (the “Property”), a 477,355 square foot Class-A cross-dock building in the Southwest Houston industrial submarket. Built in 2019, Southwest Commerce Center is currently 81.0% leased with 90,636 square feet of remaining vacancy located at the front of the building with a 3,436 square foot spec office suite in place. Located on S Cravens Road adjacent to Park 8Ninety, the Property provides easy access to both Highway 90 and Beltway 8 via S Cravens Road and Buffalo Lakes Drive. In a single quarter, the 2.8 million square feet of positive net absorption seen in the Southwest submarket Q3 of 2021 beat the full year record set in 2020 of 2.7 million square feet. This trend continued into Q4 2021 with an additional 396,448 square feet of positive net absorption for a total of 4.4 million square feet of positive net absorption in 2021. With rents expiring 18% - 19% below market upon expiration, investors have the opportunity to create value by marking rents to market upon tenant rollover. Southwest Commerce Center offers new ownership the rare value-add opportunity to lease up the remaining vacancy without the need for additional capital improvements at an extremely attractive basis below replacement cost.
· Newly Constructed Class-A Institutional Product
· Attractive Basis Below Replacement Cost
· Value-Add Opportunity Through Lease-Up Of Vacant Space
· Strategic Location Providing Regional Connectivity
· Houston Leasing Velocity
· Institutionally Preferred Submarket Experiencing Record Setting Absorption
· Houston: Nation Leading Growth