Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3334 Creekmont Drive in Houston, Texas, occupied by the owner, OM Industrial Products Corporation. The subject property consists of approximately 14,820 square feet of warehouse space and is situated on 1.0 acres of land. The asset features 18’ clear height, a newly installed dock-high door, six grade-level doors (including three drive-ins), and metal construction. The property has proximity to three major thoroughfares, including Interstates 45 and 610, and U.S. Route 290, providing efficient logistical capabilities. Upon the sale of the property, OM Industrial Products Corporation plans to sign a fourmonth triple-net leaseback at $10 per square foot. With attractive curb appeal along Creekmont Drive, the highly functional warehouse space allows for a variety of industrial uses. The subject property is located in the Northwest Near submarket, containing 21.1 million square feet of industrial space at the midway point in 2025. In the 12 months through Q2 2025, net absorption contracted by about -82,000 square feet. This was slightly offset by nearly -19,000 square feet of net deliveries due to demolitions. As a result, the vacancy rate in Northwest Near only increased by 30 basis points annually to 4.9 percent, well below the 7.5 percent national vacancy rate. Despite availability remaining tight, annual rent growth continued to trend lower to 2.6 percent, but was up 30 basis points during Q2. Market rents averaged about $8.60 per square foot. The 787,000 square feet of industrial space under construction in Q2 represented 3.7 percent of the local inventory, keeping demand largely in the driver’s seat of vacancies and rents for the foreseeable future (CoStar). As the fifth most populous metro area in the U.S., Houston houses over seven million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for import/ export. Houston’s economy has diversified in recent years, with the healthcare and technology sectors showing strong growth. As Houston’s population continues to grow, primarily to the northwest, many companies are expanding to the region to provide goods and services to the increasing population.