Exchange Bissonnet
105,000 SF | Small-Bay Multi-Tenant Flex Park
Marketing description
Exchange Bissonnet represents a rare opportunity to acquire the only currently available small-bay, multi-tenant flex park exceeding 100,000 SF in the Houston market. The asset comprises of 87 demised suites across four buildings totaling 105,000 rentable square feet, strategically positioned on Bissonnet Street — a high-traffic arterial corridor in southwest Houston and one of the city’s densest concentrations of automotive and light industrial demand. With immediate access to Beltway 8 and proximity to major employment hubs including the Westpark/Hillcroft trade area and the Westheimer commercial corridor, the property benefits from exceptional visibility and connectivity. The surrounding population density, combined with a pronounced lack of comparable small-bay product in the submarket, creates a nearly captive tenant base of owner-operated service businesses with limited alternatives.
The property has undergone a comprehensive capital improvement program that positions it well above competing assets in the submarket. Recent upgrades include full perimeter fencing with motorized entry gates, addition of a western parking lot delivering 100 leasable parking spaces, existing lot resurfacing and improvements, gutter and downspout replacements, and monument and wayfinding signage. These investments have produced a well-amenitized, institutionally maintained asset that consistently commands strong occupancy while offering tenants a superior product at a competitive price point relative to nearby alternatives.
For a new owner, the path to NOI growth is clearly defined and execution-driven rather than construction-dependent. Immediate opportunities include leasing the remaining vacant suites, converting month-to-month tenants to long-term commitments, absorbing the unleased parking inventory on the western lot, and rolling legacy tenant rates to current market levels at expiration. Together, these levers represent a compelling value-add proposition achievable through disciplined asset management alone — offering the next owner a less capital-intensive, more predictable route to outsized returns.
Offers due by August 5.
Investment highlights
Passive NNN Structured Leases
All tenants are signed on a triple net lease structure, allowing the landlord to pass on liability for increased taxes, insurance, and CAM costs to the tenant. Tenants are setup on a direct meter passthrough for electricity, and water & sewer are reimbursed through CAM expenses.
Recent Improvements
Recent improvements include a refresh to the existing parking area, addition of 100 new spots available at a monthly lease rate, added full perimeter fencing with motorized gates, exterior paint, gutters & downspouts, roof coating, monument signage, spec suite improvements and a leasing office refresh.
Location
Direct Beltway 8 access and immediate proximity to the Westpark/Hillcroft and Westheimer corridors places it at the center of southwest Houston’s most active small-bay trade area with little competing product at this price point in the submarket.
Upside Potential
The western parking lot addition added 100 leasable spaces to the facility, with legacy tenants offered spaces at $35/mo and new tenants at $50/mo. There are 27 vacant spaces which can be leased at either rate, and eventually all spaces can be leased at the $50 rate. Additionally, there are currently 11 suites of approximately 13,750 sf of space to lease at the quoted $11/ft base rate, while the average tenant pays just under $10/ft/yr representing over a 10% possible increase through rent bumps.
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