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Whataburger Relocation Site, La Porte, TX

Whataburger Relocation Site

Price
Cap Rate
NOI
Lease Term 15 Years, with 13 Years Remaining
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for all Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2017
Building Size 3,583 SF
Lot Size 0.94 acres (41,079 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

KC Patterson
Associate
925.627.2884
kc.patterson@cushwake.com
CA RE License #02034317

Investment Highlights

LONG-TERM ABSOLUTE NNN GROUND LEASE
» Absolute NNN ground lease with corporate guaranty
» 10% rental increases every five years, providing a hedge against inflation
» No landlord management
» High-quality 2017 construction featuring dual-lane drive-thru
» Relocation store
» Open 24 hours

HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Excellent visibility and access to 17,428 vehicles per day directly in front of the property
» Hard corner location
» Immediate access to Highway 146 (71,411 AADT)
» Convenient access to Highway 225 (90,659 AADT) just north of the property

STRONG CUSTOMER BASE WITH PROXIMITY TO MAJOR ECONOMIC DRIVERS
» Adjacent to the Bayport Industrial District, one of the largest private industrial complexes in the United States and the leading center for chemical processing in the Houston area
» The Bayport Industrial District features a diverse manufacturing community of over 15,000 people working for more than 70 companies and has an economic impact of about $6 billion per year
» Near the Barbours Cut shipping terminal, the largest of the terminals operated by the Port of Houston Authority
» Minutes from NASA’s Johnson Space Center (JSC), which manages more than $4 billion annually in aerospace contracts and has a workforce of about 3,200 civil servants and over 11,000 contractors
» Space Center Houston is the tourist arm of the Johnson Space Center and one of the most popular tourist attractions in Texas, with over one million visitors per year
» High average household income of $88,390 within a three-mile radius



Property Description

SOLD
The property is strategically located at the hard corner of Main Street and 11th Street, with excellent visibility and access to 17,428 vehicles per day directly in front of the property. Main Street provides immediate access to Highway 146 (71,411 AADT), which in turn connects to Highway 225 (90,659 AADT) just north of the property. Positioned along the area’s major retail corridor, the property is near several notable retailers, including Dollar Tree, Kroger, NAPA Auto Parts, Shell, Wells Fargo, and many others.

The property is ideally located near the Bayport Industrial District, one of the largest private industrial complexes in the United States and the leading center for chemical processing in the Houston area. The district is comprised of 12 square miles, with a diverse manufacturing community of over 15,000 people working for more than 70 companies. Annually, these companies contribute about $6 billion to the local economy through taxes, payrolls, purchases, and capital expenditures. Other economic drivers located close by include the Barbours Cut shipping terminal, the largest of the terminals operated by the Port of Houston Authority. The property is also a short drive from NASA’s Johnson Space Center, which has a workforce of about 3,200 civil servants—including 110 astronauts—and over 11,000 contractors. Additionally, the property is supported by an affluent customer base, with an average household income of $88,390 within a three-mile radius.

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