Green Street Business Park

The property is located on Navo Rd, just north of E University Dr (SH 380) in Aubrey, Texas.Green Street Business Park (the “Property”) is a ±54,777 square foot multi-tenant small-bay industrial asset located in Aubrey, Texas along the rapidly growing Highway 380 corridor. Built in 2022, the Property consists of 20 suites averaging ±2,739 square feet and features 38 grade-level doors, 15’7” clear height, and approximately 85% of suites are fully air-conditioned. The Property is positioned less than one mile north of Highway 380 and is surrounded by high-income residential subdivisions with average household incomes exceeding $134,200 and median home values above $326,400 within a three-mile radius. This location provides convenient access to major transportation corridors connecting the northern suburbs of Dallas-Fort Worth while benefiting from the significant residential and commercial growth occurring throughout Denton and Collin Counties. Green Street Business Park presents a compelling value-add investment opportunity with average in-place rents of $16.24/SF compared to verified market rent comps ranging from $19/SF to $21/SF NNN. Retail rents along Highway 380 exceed $38/SF plus NNNs of more than $10/SF, highlighting the strength of the surrounding trade area. Currently, the Property’s leasing broker has 12 prospective tenants on a waiting list seeking space at the Property. The Property is offered at a 7.0% in-place cap rate with an 8.8% Year-6 pro forma cap rate and a Weighted Average Lease Term (WALT) of less than 23 months, allowing investors the opportunity to capture meaningful rental rate increases as leases roll to market levels. The building’s recent 2022 construction reduces the potential for near-term capital expenditures while providing modern, functional facilities that are highly desirable to tenants. The Property’s efficient suite configuration, high percentage of 100% air-conditioned space, and grade-level loading support a broad range of light industrial and service-oriented uses. The Property also benefits from the tight small-bay industrial/flex market along the Highway 380 corridor with few competing properties, limited new supply, and no nearby available land zoned for industrial. Overall, Green Street Business Park offers investors a value-add small-bay industrial asset with significant mark-to-market rental upside, strong underlying market fundamentals, and a location positioned to benefit from continued growth across the North Dallas–Fort Worth region.