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Office

Dairy Ashford Plaza

2000 & 2020 S. Dairy Ashford Road, Houston, TX 77077

Listing Price: $15,000,000

Rentable SF
217,864
Lot Size
8.40 acres
Year Built
1983

Investment Overview

Dairy Ashford Plaza, located at 2000/2020 S. Dairy Ashford Road, is strategically located near the Southwest corner of South Dairy Ashford Road and Whittington Drive and only a few blocks north of Westheimer Road, a major East/West Houston artery. The two (2) building +/- 217,864, RSF complex is comprised of two (2) six-story well maintained office towers in west Houston. The offering offers an investor or owner/occupier an outstanding location. The rectangular shaped property, totaling approximately 8.4 acres, offers two (2 ingress/egress points on both S. Dairy Ashford Road and one via Whittington Drive. Both entrances offer tenant monument signage. Additionally, the property includes two (2) metal structured garages at the rear of each tower. Dairy Ashford Plaza is only minutes south of I-10 West, the main east-west Freeway dissecting Houston. The complex is a proven location for both small and large tenants. The rear building has always been attractive to such past large tenants as NewRez Mortgage (https://www.newrez.com), Foster Wheeler, Dow Chemical, Petrofac. Inc., and Olin Chemical. The front tower has always been a magnet for small and medium size businesses. Both office towers include a beautiful skylit atrium bringing in natural light into the center of each building. For an investor, Dairy Ashford Plaza is a true value-add opportunity. The front tower (2000) is approximately 70 percent leased and the rear tower (2020) is currently vacant. This provides excellent upside for any investor seeking tremendous upside. Similar office buildings along the I-10 West corridor command rents 30-40 percent higher. This allows an investor the opportunity to provide a similar product at a substantial discount to the competition thereby attracting tenants seeking a competitively priced product to lease at rental rates equal or higher than the immediate surrounding office buildings. Alternatively, the vacant tower offers an owner/occupier the ability to assemble up to 107,890 RSF to house their operations. Resetting the basis of Dairy Ashford Plaza to a fraction of its competition will allow an investor the opportunity to lease the vacant space at rental rates and terms that other buildings in the area will not be able to match. ALTERNATIVLEY, THE SITE OFFERS A DEVELOPER A STAGED REDEVELOPMENT LAND PLAY FOR MULTIFAMILY DEVELOPMENT WITH THE FRONT BUILDING PROVIDING A STEADY INCOME STREAM WHILE THE REAR SITE IS UNDER DEVELOPMENT. The complex has been extremely well maintained by the current ownership for almost 35 years. Some of the most notable and recent capital improvements have been made including installing automatic sprinkler systems, updating all restrooms, modernization of all elevators, repainting and waterproofing each building’s exterior, parking garage renovations, and replacing two of the chillers to name a few. Numerous Restaurant Options Minutes Away Along South Dairy Ashford Road, Memorial Drive or Westheimer Road Minutes to Both of Houston’s Major East West Freeways; I-10 West & Westpark Tollway Historical Occupancy from 2016 - 2021 Averaged 81 percent for the Combined Complex

Investment Highlights

  • True Value-Add Office Investment Opportunity (Front Building is 70% Leased with Positive Cash Flow)
  • Extremely Well Maintained Office Complex by Same Ownership for Almost 35 Years
  • Ideal for Investor or Owner/Occupier (2020 S. Dairy Ashford is Vacant)
  • Staged Redevelopment Play for Multifamily Development with Front Building Providing Steady Income Stream
  • Equidistant to Two (2) Core Office Submarkets (Westchase and the Energy Corridor)
  • Access From Both S. Dairy Ashford and Whittington Drive

Exclusively Listed By

Financing By

Listing Price: $15,000,000

Rentable SF
217,864
Lot Size
8.40 acres
Year Built
1983

Investment Highlights

  • True Value-Add Office Investment Opportunity (Front Building is 70% Leased with Positive Cash Flow)
  • Extremely Well Maintained Office Complex by Same Ownership for Almost 35 Years
  • Ideal for Investor or Owner/Occupier (2020 S. Dairy Ashford is Vacant)
  • Staged Redevelopment Play for Multifamily Development with Front Building Providing Steady Income Stream
  • Equidistant to Two (2) Core Office Submarkets (Westchase and the Energy Corridor)
  • Access From Both S. Dairy Ashford and Whittington Drive

Investment Overview

Dairy Ashford Plaza, located at 2000/2020 S. Dairy Ashford Road, is strategically located near the Southwest corner of South Dairy Ashford Road and Whittington Drive and only a few blocks north of Westheimer Road, a major East/West Houston artery. The two (2) building +/- 217,864, RSF complex is comprised of two (2) six-story well maintained office towers in west Houston. The offering offers an investor or owner/occupier an outstanding location. The rectangular shaped property, totaling approximately 8.4 acres, offers two (2 ingress/egress points on both S. Dairy Ashford Road and one via Whittington Drive. Both entrances offer tenant monument signage. Additionally, the property includes two (2) metal structured garages at the rear of each tower. Dairy Ashford Plaza is only minutes south of I-10 West, the main east-west Freeway dissecting Houston. The complex is a proven location for both small and large tenants. The rear building has always been attractive to such past large tenants as NewRez Mortgage (https://www.newrez.com), Foster Wheeler, Dow Chemical, Petrofac. Inc., and Olin Chemical. The front tower has always been a magnet for small and medium size businesses. Both office towers include a beautiful skylit atrium bringing in natural light into the center of each building. For an investor, Dairy Ashford Plaza is a true value-add opportunity. The front tower (2000) is approximately 70 percent leased and the rear tower (2020) is currently vacant. This provides excellent upside for any investor seeking tremendous upside. Similar office buildings along the I-10 West corridor command rents 30-40 percent higher. This allows an investor the opportunity to provide a similar product at a substantial discount to the competition thereby attracting tenants seeking a competitively priced product to lease at rental rates equal or higher than the immediate surrounding office buildings. Alternatively, the vacant tower offers an owner/occupier the ability to assemble up to 107,890 RSF to house their operations. Resetting the basis of Dairy Ashford Plaza to a fraction of its competition will allow an investor the opportunity to lease the vacant space at rental rates and terms that other buildings in the area will not be able to match. ALTERNATIVLEY, THE SITE OFFERS A DEVELOPER A STAGED REDEVELOPMENT LAND PLAY FOR MULTIFAMILY DEVELOPMENT WITH THE FRONT BUILDING PROVIDING A STEADY INCOME STREAM WHILE THE REAR SITE IS UNDER DEVELOPMENT. The complex has been extremely well maintained by the current ownership for almost 35 years. Some of the most notable and recent capital improvements have been made including installing automatic sprinkler systems, updating all restrooms, modernization of all elevators, repainting and waterproofing each building’s exterior, parking garage renovations, and replacing two of the chillers to name a few. Numerous Restaurant Options Minutes Away Along South Dairy Ashford Road, Memorial Drive or Westheimer Road Minutes to Both of Houston’s Major East West Freeways; I-10 West & Westpark Tollway Historical Occupancy from 2016 - 2021 Averaged 81 percent for the Combined Complex

Exclusively Listed By

Financing By

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