Absolute Net Lease Structure | The lease features an absolute NNN expense structure with no Landlord responsibilities, resulting in an entirely passive and secure income stream.
10-Year Lease with Renewal Options | The ten (10) year base lease term commenced in January 2023 and features two (2), five (5) year renewal options.
Annual Rent Escalations | The lengthy lease includes 2.94% average annual rent bumps, providing a prospective investor with a hedge against inflation and an increase in yield over time.
Outdoor Storage Use | The ±40.51-acre parcel provides ample room for inventory, materials, and equipment parking. This is a critical asset for the tenant and very difficult to assemble given the size, location, and proximity to transportation infrastructure. Properties with large storage yards within the Houston market are highly sought after by users across many industries and are increasingly difficult to assemble.
Established Tenant | The Tenant has been in place and demonstrated further commitment to the site by execution of the 10-year lease.
Experienced Operator | Western Falcon and Conestoga Supply Corporation have been in operation since 1992 and 1986, respectively, growing through multiple cycles in the oil and gas industry.
High Growth Texas MSA | A leading industrial market, Houston, TX is the fifth largest MSA in the U.S. and the largest in the economic juggernaut state of Texas.
Longstanding Strategic Location | Located within 10 miles of one of the world’s largest shipping channels and dozens of major terminals, this location benefits from close proximity to shipping, rail, and arterial freight routes. The site is situated within miles of hundreds of complimentary tenants and convenient access to multiple arterial freight routes.