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Single-Tenant Industrial

BriCCo Metal Finishing

17667 Telge Rd, Cypress, TX 77429

Listing Price: $2,154,000

Cap Rate
7.00%
Gross SF
10,054
Price/Gross SF
$214.24
Lot Size
1.02 acres
Year Built
2016
Rentable SF
10,054

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 17667 Telge Road (Building 7) in Cypress, Texas, leased to BriCCo Metal Finishing. The subject property consists of approximately 10,054 square feet of industrial space and is situated on 1.02 acres of land. Delivered
in 2016, the single-tenant asset features a 28’ clear height, two grade-level doors, a ten-ton overhead crane, three-phase power with 400 amps and 480 volts, and 15 parking spaces. Located less than two miles from State Highway 99 (Grand Parkway) in the Telge Industrial Business Park, the property has
easy access within metro Houston. BriCCo recently signed a new seven-year triple-net lease in April 2024 at $15.00 per square foot with a 2.0 percent escalation in year two and 3.38 percent annual increases starting year three. Since 1988, BriCCo has been a leading provider of metal coating services that
help protect metal parts and equipment from harsh environmental elements.

The subject property is positioned in Northwest Highway 6, a mid-sized submarket containing 23.3 million square feet of industrial space. In the first quarter of 2024, the vacancy rate increased slightly to 12.4 percent but was significantly down 310 basis points from its decade’s high set in Q3 2023. Bucking the national trend, 12-month net absorption through Q1 reached a five-year high at 3.1 million square feet, causing the recent drop in vacancies. Despite the increase in industrial demand, annual rent growth in Northwest Highway 6 continued to slow to 2.0 percent in Q1. However, with only 173,000 square feet
under construction (representing less than 1.0 percent of inventory), supply will essentially be a nonfactor on vacancies and rent growth for the foreseeable future (CoStar).

As the fifth most populous metro area in the U.S., Houston houses over seven million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty, and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houston’s economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houston’s population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.

Investment Highlights

  • 10,054-Square-Foot Warehouse Situated on 1.02-Acre Lot
  • Features Two Grade-Level Doors, 28' Clear Height, and Ten-Ton Overhead Crane
  • New Seven-Year Triple-Net Lease Offers Attractive Hands-Off Investment
  • Occupied by BriCCo Metal Finishing: Leading Industrial Protective Coatings Applicator
  • Five-Year High in Submarket Absorption, Vacancies Down 3.1%

Exclusively Listed By

Financing By

Single-Tenant Industrial

BriCCo Metal Finishing

Listing Price: $2,154,000

Cap Rate
7.00%
Gross SF
10,054
Price/Gross SF
$214.24
Lot Size
1.02 acres
Year Built
2016
Rentable SF
10,054

Investment Highlights

  • 10,054-Square-Foot Warehouse Situated on 1.02-Acre Lot
  • Features Two Grade-Level Doors, 28' Clear Height, and Ten-Ton Overhead Crane
  • New Seven-Year Triple-Net Lease Offers Attractive Hands-Off Investment
  • Occupied by BriCCo Metal Finishing: Leading Industrial Protective Coatings Applicator
  • Five-Year High in Submarket Absorption, Vacancies Down 3.1%

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 17667 Telge Road (Building 7) in Cypress, Texas, leased to BriCCo Metal Finishing. The subject property consists of approximately 10,054 square feet of industrial space and is situated on 1.02 acres of land. Delivered in 2016, the single-tenant asset features a 28’ clear height, two grade-level doors, a ten-ton overhead crane, three-phase power with 400 amps and 480 volts, and 15 parking spaces. Located less than two miles from State Highway 99 (Grand Parkway) in the Telge Industrial Business Park, the property has easy access within metro Houston. BriCCo recently signed a new seven-year triple-net lease in April 2024 at $15.00 per square foot with a 2.0 percent escalation in year two and 3.38 percent annual increases starting year three. Since 1988, BriCCo has been a leading provider of metal coating services that help protect metal parts and equipment from harsh environmental elements. The subject property is positioned in Northwest Highway 6, a mid-sized submarket containing 23.3 million square feet of industrial space. In the first quarter of 2024, the vacancy rate increased slightly to 12.4 percent but was significantly down 310 basis points from its decade’s high set in Q3 2023. Bucking the national trend, 12-month net absorption through Q1 reached a five-year high at 3.1 million square feet, causing the recent drop in vacancies. Despite the increase in industrial demand, annual rent growth in Northwest Highway 6 continued to slow to 2.0 percent in Q1. However, with only 173,000 square feet under construction (representing less than 1.0 percent of inventory), supply will essentially be a nonfactor on vacancies and rent growth for the foreseeable future (CoStar). As the fifth most populous metro area in the U.S., Houston houses over seven million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty, and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/export. Houston’s economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houston’s population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.

Exclusively Listed By

Financing By

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