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Views: 129 DOM: 154 Updated: 07.26.24 Posted: 06.19.24 Status: Active

Summary

Price $3,200,000
Built/Renov 2009
Tenant United Rentals
Cap Rate 5.72%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,500
Lease Start 10-15-2011
#Units 1,504
Price/SF $304.76
Expiration 09-14-2026
Tenant Type Industrial
NOI $183,175
R. Term 1.9
Ownership Fee Simple
Rent/SF $17.45
Increases 3.0%/1/yrs
Pop 5Mi 222,371
Lot/AC 3.29
Options 2/5yrs
AHHI 5Mi $85,339

Lease Highlights

  • United Rentals has 2+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features a 3% rental escalations at the start of year 14, FMV at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

United Rentals is strategically located on FM 1960 Road East, with access to a robust daily traffic count of 59,392 vehicles. The property is situated less than one mile from Hardy Toll Road (41,658 VPD) and just over two miles from Interstate 45 (285,087 VPD). Additionally, it is situated two miles from George Bush Intercontinental Airport, Texas's second busiest and the nation's 15th busiest...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: United Rentals
  • Guarantor:Corp T and Rated
  • Company:United Rentals, Inc.
  • # Units:1,504
  • Tenant S&P: BB+
  • Moody’s: Ba1
  • Stock: NYSE: URI

About Tenant

United Rentals, Inc (NYSE: URI) is an American publicly traded company; it is the world's largest equipment rental company, with about 16 percent of the North American market share as of 2022....


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 9,080 93,824 232,740
2024 Total Population : 8,453 92,087 225,094
2024 Employed Civilian Pop : 4,064 47,720 116,162
2024 Total Businesses : 269 2,118 6,257
2024 Average Household Income : $ 82,745 $ 81,844 $ 91,025
2024 Total Consumer Spending : $ 198 M $ 2268 M $ 6255 M
2024 Median Age : 32 32 33
2024 Total Households : 2,703 30,984 77,117
2024 Pop Age 25+: Bachelor's Degree : 671 8,280 25,521
2024 Average Home Value : $ 231,172 $ 242,129 $ 282,276
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Humble-Westfield Rd E Hardy Rd 2011 5,900 0.26 mi
Treachwig Rd FM 1960 Rd E 2014 22,767 0.39 mi
Woodcreek North Dr Woodcreek Meadows Ln 2011 2,300 0.45 mi
Woodcreek North Dr Woodcreek Meadows Ln 2001 2,670 0.57 mi
Cypress Creek Parkway Woodcreek North Dr 2020 38,398 0.60 mi
FM 1960 East Woodcreek North Dr 2022 40,990 0.60 mi
Aldine Westfield Rd FM 1960 Rd W 2011 17,080 0.64 mi
Aldine Westfield Road FM 1960 Rd W 2019 20,059 0.66 mi
FM 1960 E 2022 7,836 0.68 mi
FM 1960 E 2022 7,700 0.69 mi

Listing Broker

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