Capital
Commercial Investments is pleased to offer this investment opportunity
in the greater Houston area. Please call to request our asking price
for 1350 nasa Road One. 1350 Nasa Road is a Class B office building
located along Nasa Road One approximately 4 miles East of El Camino Blvd.
and across from the Johnson Space Center (NASA). The
general area has a highly educated and professional work force. The
area's work force has its origins in the aerospace industry, but has diversified
into other industries such as petrochemical services, information technology,
and medical device manufacturing and engineering.
 |
The
physical property is a two-story atrium style office
building built in 1979 and last renovated in 1996. The
construction style of brick and glass has shallow bay
depths allowing the building to accommodate both small
and large tenants alike. 1350 Nasa Road has 55
parking spaces allowing it a 2.16 parking ratio on the
1.094 acre site. The floor plate is approximately
12,610 SF for a total net rentable area of 25,220 SF,
and gross size of 25,432 SF. As of Juney
2004, 1350 Nasa Road One is 74% occupied with 13 tenants. |
Economic
expansion within the three major employment centers in the
Clear Lake area (Bayport Industrial Project, NASA, and tourism,
specifically water-related recreation) has fueled demand for
additional housing and ancillary commercial facilities.
Clear Lake enjoys a highly diversified, balanced economic structure
with a strong base of aerospace, high-tech, petrochemical, commercial
fishing and boating industries. The area has a population of over
200,000 residents and encompasses over 300 square miles. The area’s
highly educated and diversified work force originated in the aerospace
industry, but has expanded into petrochemical services, information
technology, and medical device manufacturing and engineering.
The Clear Lake Economic Council predicts anticipated growth will continue
at an annual rate of 1.8% for the next five years, compared to the 1.6%
annual population growth of Texas. From 1970 to 2000, the Clear
Lake region sustained a 4% annual population growth rate compared
to 1.8% nationally.
As of 4th
Quarter 2003, the Clear Lake submarket consists of 70 office buildings with over
4.3 million square feet of inventory. The submarket’s overall vacancy level
is 16% with a average rate of $15.94 PSF.
This
opportunity represents an excellent investment for the following reasons:
-
Stabilized
cash flow with excellent tenancy and rent bumps
-
Located
in a superior Clear Lake submarket of Houston that is experiencing economic
expansion
-
Remaining
vacant suites are pre-finished and ready for immediate tenancy.
Please call us immediately if you have
any interest or to request a package.
CONTACT: Derek
George (713) 621-7300 or E-mail:
Dgeorge@capitalcommercial.com
Regent's
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