CBRE is pleased to present to qualified investors the outstanding opportunity to acquire the fee simple interest in a 98% leased, stable investment prominently located on I-10 in the Energy Corridor, one of the most desirable sub-markets in the Houston, TX MSA.
Comprised of 110,181 square feet, 12012 Wickchester Lane is 98% leased to a high-quality roster of tenants with 4 years of weighted average lease term and limited near term rollover. Prominently positioned within the I-10 Energy Corridor, 12012 Wickchester Lane is surrounded by Class A office campuses and buildings boasting lease rates far above the $14.79 NNN per square foot average, in-place rent at the Property mitigating flight risk and offering ample upside to the future owner.
The offering is priced at an attractive 8.5% cap ($17,912,000) $162.57 per square foot allowing for ample positive leverage and cash flow growth with 5.26% NOI CAGR.