Houston, Texas – Industrial Net Lease Properties are on the rise for many investors. Recently, Blackstone Real Estate Advisors, the private equity firm’s commercial real estate division has acquired a substantial amount of Industrial Net Lease Properties. Blackstone Real Estate Advisors has an investment portfolio of 275 industrial properties, consisting of approximately 45 million square feet. As with retail single tenant net lease properties (STNL), there is a lack of a current supply Industrial Net Lease Properties. Also with many areas hit with no-growth governmental agencies and community groups, there are little signs of new Industrial Net Lease Properties under construction.
We have news on Industrial Triple Net Lease Properties in Texas and New Jersey today. A Commercial Real Estate Broker with a net lease group sold a pair of NNN Lease Investments. One of the net leased properties is located at 10 Taft Court, Totowa, New Jersey. The NNN Lease Property has the zip code of 07512. These 2 net leased properties in the news today are industrial buildings. This New Jersey industrial net leased property is approximately 83,111 square-feet for an industrial warehouse. One research report has this net leased property being built in 1970 and another report says it was built in 1972.
Red Men Realty, LLC sold the net lease property for $5 million, or about $61 per square foot. Red Men Realty, LLC is an affiliate of Ninth Avenue Equities Co., Inc. Totowa Development Group purchased this industrial Net Lease Property. This industrial net leased property has been leased to a company that is relocating from Paterson, New Jersey. This net leased property, a single-story building, will undergo a major renovation. This net lease property has a unique opportunity as it offers 6 tailboard loading docks in a cross-dock configuration. The accessibility to this net lease property has been greatly improved with the completion of the West Belt Connector Road allowing direct access to Rt 23 and Rt. 80. The industrial net leased properties and distribution facilities are a wise choice for a replacement property in a 1031 Exchange.
The other industrial net lease property is situated in Houston, Texas. This industrial net lease property sold for $2.15 million. This net lease investment is a 53,243 square-foot warehouse. The net lease property buyer was a national company looking to expand their business. This net lease property has an opportunity to be a value-add property. The “Value Add” means a commercial property has options for the Property Owner to increase the Net Operating Income (NOI). This can done though increasing lease payments or minor renovations. Also it may be a value-add property whereas the owner can build on the NNN commercial real estate development land or enlarge buildings.
This Houston Industrial Net Lease Property has the opportunity to build another 25,000 square-feet to this net lease property. This net lease property sold for just under asking price of $2.5 Million. This industrial net lease property is in southeast Houston, located near the Hobby Airport. This industrial net lease property has it’s property divided by 45,286 square foot for warehouse and an Office of 7,991 square feet.
More features for this industrial net lease property:
. Land: 5.11 Acres (1.76 Acres Available for Expansion/Outside Storage)
. Loading: (9) Dock-High, (1) Ramp, (2) Grade & (4) Rail Doors
. Possible Rail Service
. Clear Height: 24′
. New Roof on Building
. Year Built: 1973 (Tilt-Wall)
. Power: 480V, 3-Phase w/ 2000 Amps
. Lease Rate: $0.38 /SF (Net)
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