17939 Kieth Harrow BlvdHouston, TX 77084

This exceptional 65,000-square-foot multi-tenant industrial park in Houston, Texas, presents a compelling investment opportunity. Comprising four single-story buildings on a five-acre lot, this Class B property boasts 64,800 square feet of net rentable space and is currently 89% occupied with 19 tenants. Built between 2021 and 2023, the park features 18-foot ceilings, one loading dock, and 30 grade-level overhead doors. The property benefits from a prime location near major thoroughfares including Interstate 10, Grand Parkway 99, Highway 6, and State Highway 290, ensuring excellent accessibility. Multiple suites are climate-controlled, enhancing their appeal to a wide range of tenants. Situated in a deed-restricted business plaza, the park enjoys a strong tenant pool within a five-mile radius encompassing a population of 334,192. The Northwest Outliers submarket's robust growth further underscores the property's desirability. NNN leases are in place, featuring 3% annual escalations and a weighted average lease term (WALT) of 2.5 years. The current average in-place rent of $8.70 per square foot offers significant potential for increased net operating income (NOI) through a market-rate leasing strategy. The tight submarket vacancy rate of 5.5% for industrial and flex properties, coupled with 3.1 million square feet of industrial warehouse space leased in the past year, highlights the strong demand in this area.