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Located in the heart of the North West Houston submarket, Tanner Rd is a multi-tenant business park that we are acquiring at an incredible basis of $78/SF with comparable product selling closer to $125/SF. Comprised of four buildings with a total square footage of 83,512 on a 3.65 acre lot, Tanner Rd is made up of 18 bays and 16 tenants in place with an average bay size of 4,912 SF. All buildings have 19′ clear height and each bay is comprised of a roll up door with 2 shared truck wells for the park. With weighted average in place rents in the park of $0.27/SF net and weighted average market rents are $.83/SF net, Tanner Rd represents an ideal opportunity to quickly turn a rent roll and create value.
With a full renovation planned for the property, including interior and exterior improvements, we will be able to reposition the property as a clean and functional shallow bay business park with strong rents and cash flow for investors.
Tanner Rd Multi-Tenant Industrial
9863 - 9869 Tanner Rd, Houston TX 77041
Tanner Rd is your prototypical value-add investment, combining a strong mark to market story with a full renovation plan to create robust cash flow and drive returns to investors. We have an incredible opportunity to attack the rent roll systematically and increase the weighted average rents drastically in very short order. By turning all eligible units within the first 18 months, we are projecting to take the stabilized NOI to $830,395, representing a stabilized yield on cost of 10.17%
In order to be able to drive rents up to the weighted average $0.83/SF net market rent, we have a full renovation plan to increase the curb appeal of the property as well as provide upgraded spaces for tenants to meet the needs of today’s small businesses. Our plan includes exterior improvements like paint, suite signage, concrete repairs and re-striping the parking lot alongside any required roof repairs. Interior improvement plans include upgrading the offices in the bays with new lighting and LVT flooring upgrades as well as a fresh coat of paint in the entire suite for a modern refreshed space. These improvements will allow us to minimize downtime during lease up, as well as maximize revenue.
Per JLL, Houston’s healthy market conditions continued into Q3, as demand drove further declines in vacancy and bolstered strong occupancy gains. Total vacancy dropped 50 basis points from Q2 to 7.1%, falling below the five-year average for the first time since 2022. Q3 produced the strongest quarterly absorption of the year with 6.1 million SF of occupancy gains, as demand again exceeded new supply additions, pushing net absorption ahead of completions year-to-date.
Houston’s industrial fundamentals remain bright, evidenced by nation-leading net absorption, tightening vacancy and increased leasing activity year-over-year. Furthermore, active tenant requirements remain on the rise, reaching 28.1 million s.f., indicating sustained market momentum. This ongoing trend is expected to further compress vacancy rates through year-end.
Tanner Rd Multi-Tenant Industrial
9863 - 9869 Tanner Rd, Houston TX 77041
Tanner Rd Multi-Tenant Industrial
9863 - 9869 Tanner Rd, Houston TX 77041
At Hanson Capital Group, experience is not just a metric—it’s our foundation. Boasting over 100 years of combined expertise in real estate, we’ve cultivated a reputation for excellence and strategic insight in the market. Our formidable investments, nearing $300,000,000 under management, are a testament to our sustained success. Driving our vision forward is a harmonized team of executives and directors. CEO Chris Hanson, COO Zach Price, Managing Director of Acquisitions Chris Pike, and Managing Director of Asset Management Jim Tainter lead the charge. Together, they craft the trajectory for Hanson Capital Group, ensuring we remain at the forefront of the real estate industry.
Established in 2008, Hanson Capital Group embarked on its mission to become a trusted auction bidding service provider and create a lasting enterprise focused on creating wealth for ourselves and our partners. Aligning with prominent institutions, our dedication and energy quickly became evident, resulting in the acquisition of over 1,500 single-family homes out of foreclosure within an impressive six-year span. However, our sights were set higher. Identifying a unique opportunity to elevate our bidding pursuits, Hanson Capital, LLC was established in 2010 as a state-licensed mortgage bank. Today, Hanson Capital thrives as a leading hard money and bridge debt lender, and, to date, has overseen transactions exceeding $500 million, while consistently maintaining an equity portfolio averaging $40 million.
While our initial investments were rooted in real estate backed lending, in 2010 we began our pursuit of direct investment in value-add multifamily assets. After nearly a decade of that value-add multifamily strategy, and after buying and selling a few thousand apartment doors, our focus shifted in 2018 towards industrial real estate, which continues to be the focus today.
We are now deeply entrenched in industrial real estate within the so-called “Sun Belt”, with a notable presence in strategic areas like California, Arizona, and Texas. The result of this commitment is over $250,000,000 in industrial real estate and 1.27 million square feet of current assets under management.
Our process is invaluable to our success. All investment decisions are made by our investment committee in accordance with our Investment Policy Statement (IPS). Strategically crafted, the IPS emphasizes our central mission: capitalizing on inefficiencies in real estate to provide sustainable returns through proven and disciplined investment and management strategies. Every facet of the IPS has been intricately designed to demystify our methodologies, underscoring our commitment to transparency, accountability, and the responsible management of entrusted capital. The IPS also guides us in making informed, consistent decisions, helping to mitigate risks, and optimize returns, while ensuring that our actions align with our long-term investment objectives.
Tanner Rd Multi-Tenant Industrial
9863 - 9869 Tanner Rd, Houston TX 77041
Chris Hanson, the Principal of Hanson Capital Group (HCG), is renowned for his strategic foresight in the real estate sector. Starting with the acquisition of single-family homes for institutions during the Great Recession and a mortgage banking operation, Chris has adeptly navigated market trends, transitioning into multifamily and subsequently industrial real estate. His unique ability to identify lucrative opportunities has been pivotal to HCG’s success. Under Chris’s leadership, HCG has thrived in real estate and finance, showcasing his profound insight into both sectors. His dynamic approach and unparalleled experience fuel HCG’s ongoing growth and success.
Zach brings a unique blend of operational acumen and legal expertise to the real estate investment sector. As COO, he integrates strategic operational management, focusing on process streamlining and enhancing operational efficiency. Zach’s role involves a wide range of responsibilities, including team leadership, property oversight, investor relations, and ensuring compliance. His analytical approach and ability to handle challenges demonstrate his adaptability and dedication to the company’s success in the dynamic real estate market
Chris has been a driving force in the company’s growth and profitability. In his role, Chris leads the development and execution of acquisition strategies, combining his deep understanding of real estate trends and financial modeling to secure profitable investments. He manages both the internal team and external relationships, including brokers and financial partners, fostering a results-driven environment. His commitment to continuous learning and active industry engagement ensures Hanson Capital Group’s agility and success in the dynamic real estate market.
Jim’s extensive thirty-year career in the real estate sector is marked by his expertise in a wide array of areas. Known for his exceptional service and an owner-centric approach, Jim has a proven track record of handling diverse commercial, industrial, retail, and multi-family properties. Jim excels in recruiting and motivating top talent, fostering team engagement, and implementing best practices from an owner’s perspective. This approach not only enhances the value for clients and their properties but also supports the leasing, accounting, and management teams under his guidance.