Investment Offering
Pasadena, TX - Octapharma
3150 Burke Rd | Pasadena, TX 77504
$2,550,000
Price6.04%
Cap Rate$154,000
NOI14,000
± SF Offering GLA2.59
± AC Land AreaDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, freestanding, corporate signed, Octapharma investment property located in Pasadena, Texas (Houston MSA). The tenant, Octapharma Plasma Inc., has approximately 5 years remaining in their initial term with 2 (5-year) options to extend. The lease features 12.5% increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. Octapharma employs more than 9,000 people worldwide to support the treatment of patients in over 118 countries with products across the following therapeutic areas: Hematology (coagulation disorders), Immunotherapy (immune disorders) and Critical Care.
Location
Octapharma is strategically located at the signalized, hard corner intersection of Spencer Highway and Burke Road, serving a combined 65,000 vehicles per day. The site benefits from significant street frontage and is equipped with a large monument sign, creating excellent visibility along Burke Road (15,600 VPD), a primary retail thoroughfare that serves the city of Pasadena. The subject property is ideally positioned as an outparcel at Spencer Square, a 190,000 SF Kroger anchored community center. Other nearby national/credit tenants include Walmart Supercenter, Target, Lowe’s, Home Depot, Tractor Supply, Big Lots, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is strategically positioned near HCA Houston Healthcare Southeast (345-beds) and St. Luke’s Health- Patients Medical Center (61-beds), providing a direct consumer base from which to draw. Moreover, the subject property benefits from nearby direct on/off ramp access to State Highway 8, an 88-mile highway that serves the greater Houston area and averages 75,000 vehicles per day. The 5-mile trade area is supported by more than 293,000 residents and 107,000 daytime employees.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215