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|Call for Offers||2020-08-24|
Heron Lakes (The Portfolio),a seven-building office portfolio comprised of 315,805 square feet, situated on approximately 14.18 acres strategically located in one of the fastest-growing submarkets in Houston. Heron Lakes has unparalleled Beltway frontage and visibility, as well as excellent regional accessibility being located between U.S. Highway 290 and State Highway 249 along the Sam Houston Parkway.
The portfolio’s current occupancy at 65.6%, is well below the submarket average of 83% and is a reflection of the previous owner’s under capitalization followed by a year of being operated under bankruptcy protection. The occupancy was over 90% as recently as 2019 which demonstrates the effects of the impaired ownership. Heron Lakes is the benefactor of robust population growth in Northwest Houston, providing tenants with attractive drive times to some of Houston’s most highly regarded suburban neighborhoods including The Woodlands, Champions Forest, Spring Cypress and more. Heron Lakes is a premier option for tenants in northwest Houston as evidenced by it’s high historical occupancy. The buildings, all unique to one another in terms of size, architecture and floor plans, provide tenants both large and small with multiple options
- Beltway frontage and visibility with excellent ingress/egress
- Value-add opportunity at an attractive basis
- Superior demographics and residential base
- High growth location with exceptional regional access
- Robust suburban amenity base
- Resilient Houston economy
- Stable and high performing submarket