JLL Capital Markets announced today that it has secured the sale and financing of the Northwest Houston Manufacturing Portfolio, a fully leased industrial manufacturing portfolio totaling 127,626 square feet in Houston.
JLL represented the seller in the transaction. The buyer was MoxieBridge, for whom JLL arranged the loan through WaFd Bank.
The Northwest Houston Manufacturing Portfolio consists of four single-tenant manufacturing buildings built between 2000 and 2005. The crane-served and crane-capable facilities feature overhead cranes and average clear heights of 24.5 feet. The portfolio was 100% leased at the time of sale, with a weighted average lease term of 3.8 years.
The properties are located at 7505, 7509 and 7519 Prairie Oak Dr. in Houston’s Prairie Oak Business Park at the corner of Beltway 8 and Highway 249, along with 11930 Brittmoore Park Dr., situated west of Beltway 8. The locations provide immediate access to major transportation corridors including Highway 249 and Sam Houston Parkway, as well as proximity to Bush Intercontinental Airport and Houston’s manufacturing hubs.
Northwest Houston represents one of the region’s strongest industrial submarkets, serving the broader Houston metropolitan area’s robust manufacturing sector which maintains just 1.3% vacancy. The market is home to more than 7,000 manufacturing establishments and generates $75.1 billion in goods produced annually, making Houston the second-largest U.S. metro for manufacturing GDP.
JLL Capital Market’s Investment Sales and Advisory team was led by Trent Agnew, Charles Strauss and Lance Young. Campbell Roche, Jarrod McCabe and Jack Britton secured the financing.
