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Office Warehouse

14215 Suncrest Road & 12200 Tower Road

14215 Suncrest Rd, Manor, TX 78653

Listing Price: $8,500,000

Cap Rate
1.00%
Gross SF
70,040
Price/Gross SF
$121.36
Lot Size
22.66 acres
Year Built
1999
Rentable SF
70,040

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire two properties located at 14215 Suncrest Road and 12200 Tower Road in Manor, Texas. The subject portfolio includes approximately 70,040 square feet of warehouse space situated on 7.24 acres of land. The five buildings feature 14 grade-level doors, clear heights between 18’ to 22’, and a fully fenced-in yard. Investors have the option of acquiring the property as sale-leaseback, with the seller occupying 32,500 square feet of space contained in the pole barn storage buildings. An additional 15.42 acres of land can also be purchased for future industrial or multi-family development. Situated 12 miles from Austin’s city-center, the portfolio has easy access to Farm to Market Road 973, U.S. Route 290, and State Highway 130. The property is strategically located between the Austin-Bergstrom International Airport, Tesla’s new Gigafactory, and Samsung’s semiconductor plant currently underway. In recent years, the city of Manor has been ranked as one of the fastest-growing suburbs in the nation. The subject portfolio is located within Far Northeast, a midsized submarket containing around 11.1 million square feet of industrial space. Logistics facilities dominate the inventory, making up about 89 percent of total space. Since the peak of the Covid-19 Pandemic, the vacancy rate has plummeted from 9.5 percent in Q3 2020 to 4.4 percent by the end of Q2 2022. Thanks to the delivery of Amazon’s 3.8 million-square-foot distribution center, net absorption smashed records with 4.3 million square feet in 2021. Even when Amazon’s facility is discounted, net absorption in Far Northeast clocked in at 87 percent above the previous five-year average. Backed by strong tenant demand, annual market rent growth has soared to an all-time high of 13.6 percent in the second quarter of the year. Industrial rents in Far Northeast average just over $12.00 per square foot, offering tenants nearly a 9 percent discount compared to the market average. Developers remain bullish on the submarket, indicated by the 1.1 million square feet currently underway, representing a 10 percent expansion to the local supply. Far Northeast’s impressive fundamentals drove investment demand to new heights last year, doubling the previous record set in 2015 to 31 transactions (CoStar). With a population of over 2.2 million residents, the population of Metro Austin has grown significantly in recent decades, along with economic growth. Known as the home of South by Southwest, the Austin-Round Rock metro covers about 4,225 square miles and consists of five counties in central Texas: Travis, Williamson, Hays, Caldwell, and Bastrop. Austin’s population of 940,700 people makes Travis the most populous county in the metro. Employment gains in the tech sector have contributed significantly to the metro’s recent population and median household income growth. Tesla’s newly constructed Gigafactory is expected to generate at least 5,000 jobs, supporting future relocations and increased demand for housing. The government is a significant driver in the local economy as Austin is the state capital and home to an IRS regional processing center as well as military bases. Located within a border state, the metro benefits significantly from international trade agreements with Mexico.

Investment Highlights

  • 70,040 Square Feet of Industrial Outside Storage and Office Warehouse on 7.24 Acres
  • Features Five Buildings, 14 Grade-Level Doors, 18'-22' Clear Heights and Fenced Laydown Yards
  • Additional 15.42 Acres of Land for Future Industrial or Multi-Family Development
  • Seller Can Lease Back 32,500 Square Feet of Pole Barn Storage Buildings
  • 12 Miles East of Austin with Easy Access to Farm to Market 973, Highway 290 and State Highway 130
  • Manor Ranks as One of the Fastest Growing Suburbs in America Today
  • Strategically Located Between Austin-Bergstrom International Airport, Tesla and Samsung

Exclusively Listed By

Financing By

Office Warehouse

14215 Suncrest Road & 12200 Tower Road

Listing Price: $8,500,000

Cap Rate
1.00%
Gross SF
70,040
Price/Gross SF
$121.36
Lot Size
22.66 acres
Year Built
1999
Rentable SF
70,040

Investment Highlights

  • 70,040 Square Feet of Industrial Outside Storage and Office Warehouse on 7.24 Acres
  • Features Five Buildings, 14 Grade-Level Doors, 18'-22' Clear Heights and Fenced Laydown Yards
  • Additional 15.42 Acres of Land for Future Industrial or Multi-Family Development
  • Seller Can Lease Back 32,500 Square Feet of Pole Barn Storage Buildings
  • 12 Miles East of Austin with Easy Access to Farm to Market 973, Highway 290 and State Highway 130
  • Manor Ranks as One of the Fastest Growing Suburbs in America Today
  • Strategically Located Between Austin-Bergstrom International Airport, Tesla and Samsung

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire two properties located at 14215 Suncrest Road and 12200 Tower Road in Manor, Texas. The subject portfolio includes approximately 70,040 square feet of warehouse space situated on 7.24 acres of land. The five buildings feature 14 grade-level doors, clear heights between 18’ to 22’, and a fully fenced-in yard. Investors have the option of acquiring the property as sale-leaseback, with the seller occupying 32,500 square feet of space contained in the pole barn storage buildings. An additional 15.42 acres of land can also be purchased for future industrial or multi-family development. Situated 12 miles from Austin’s city-center, the portfolio has easy access to Farm to Market Road 973, U.S. Route 290, and State Highway 130. The property is strategically located between the Austin-Bergstrom International Airport, Tesla’s new Gigafactory, and Samsung’s semiconductor plant currently underway. In recent years, the city of Manor has been ranked as one of the fastest-growing suburbs in the nation. The subject portfolio is located within Far Northeast, a midsized submarket containing around 11.1 million square feet of industrial space. Logistics facilities dominate the inventory, making up about 89 percent of total space. Since the peak of the Covid-19 Pandemic, the vacancy rate has plummeted from 9.5 percent in Q3 2020 to 4.4 percent by the end of Q2 2022. Thanks to the delivery of Amazon’s 3.8 million-square-foot distribution center, net absorption smashed records with 4.3 million square feet in 2021. Even when Amazon’s facility is discounted, net absorption in Far Northeast clocked in at 87 percent above the previous five-year average. Backed by strong tenant demand, annual market rent growth has soared to an all-time high of 13.6 percent in the second quarter of the year. Industrial rents in Far Northeast average just over $12.00 per square foot, offering tenants nearly a 9 percent discount compared to the market average. Developers remain bullish on the submarket, indicated by the 1.1 million square feet currently underway, representing a 10 percent expansion to the local supply. Far Northeast’s impressive fundamentals drove investment demand to new heights last year, doubling the previous record set in 2015 to 31 transactions (CoStar). With a population of over 2.2 million residents, the population of Metro Austin has grown significantly in recent decades, along with economic growth. Known as the home of South by Southwest, the Austin-Round Rock metro covers about 4,225 square miles and consists of five counties in central Texas: Travis, Williamson, Hays, Caldwell, and Bastrop. Austin’s population of 940,700 people makes Travis the most populous county in the metro. Employment gains in the tech sector have contributed significantly to the metro’s recent population and median household income growth. Tesla’s newly constructed Gigafactory is expected to generate at least 5,000 jobs, supporting future relocations and increased demand for housing. The government is a significant driver in the local economy as Austin is the state capital and home to an IRS regional processing center as well as military bases. Located within a border state, the metro benefits significantly from international trade agreements with Mexico.

Exclusively Listed By

Financing By

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