222 benmar - loopnet

JLL | 1

222 BenmarHouston, TX

2 | 222 Benmar – Houston, TX

Investment summary

Transaction Guidelines

The offering of 222 Benmar is being distributed exclusively by JLL to a select group of investors. The sellers will entertain offers for the acquisition of 100% fee simple interest in the Property. The purchaser will be selected by the sellers in their sole and absolute discretion based on a variety of factors, including, but not limited to:

• Offer price

• Ability to perform and close expeditiously

• Absence of contingencies

• Level of due diligence completed

ALL OFFERS MUST BE PRESENTED IN WRITING THROUGH JLL AND INCLUDE:

• The source of purchaser’s funding

• The amount of proposed earnest money deposit

• Proposed due diligence period and subsequent closing period

• A list of any committee approvals required to close the transaction

JLL will assist prospective purchasers to arrange property inspections, which are to occur no later than June 11th to June 15th.

All offers are due by no later than 5:00 p.m. CST on June 21st.

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222 Benmar | Houston, TX

The Offering

JLL Capital Markets, as exclusive advisor to the owner of 222 Benmar (“The Property”), is pleased to present the opportunity to acquire the fee simple interest in the 198,257 square foot Class A office building located in Houston’s North Houston District. The eight story office building is complemented by a connected parking garage via climate controlled skywalk.

Attractive Acquisition Basis

With constructions costs and land prices rapidly increasing, 222 Benmar offers investors and users the unique opportunity to purchase a true Class A building in a strategic location for a fraction of replacement cost. For users desiring to own their office space, the Property uniquely provides Class A finishes, proximate to numerous high-quality residential communities, at occupancy costs that are significantly lower than leasing comparable space.

Strategic Corporate Location

Located in Houston’s North Houston District just east of Interstate 45 and the North Sam Houston Parkway intersection, offering easy access to all parts of Houston - George Bush Intercontinental Airport, just 5 minutes away; Houston Central Business District only 15 minutes south; Galleria/ Uptown District just 20 minutes south; 15 minute commute to master-planned communities of The Woodlands, Kingwood and Atascocita - all making 222 Benmar an excellent business location.

Well Maintained Institutional Grade Product

Originally built for and occupied by ExxonMobil since 1994, the Property is in exceptional condition and has been well maintained by current and former ownership with approximately $10,000,000 in capital improvements since 2000. While 222 Benmar has historically been occupied by a single tenant, each of the 8 floors have common corridors that will accommodate multiple tenants with break out rooms and a small kitchen on every floor.

Address 222 Benmar Houston, TX

Product Type Office

Square Footage 198,257 rsf

Site Size 3.8412 acres

Year Built 1994

Occupancy Vacant

Parking/Ratio 366 garage spaces 1.85/1,000 rsf

PROPERTY DETAILS

222 Benmar is surrounded by an array of amenities including lodging, dining, shopping, and an abundance of retail and other services. Strategically located along the Sam Houston Parkway (Beltway 8) with close proximity to Interstate 45, Highway 59 and the Hardy Toll Road, 222 Benmar offers tenants and visitors convenient access to virtually all areas of Houston.


Investment summary

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Investment summary

Investment highlights -

North Houston District

222 Benmar occupies a prominent gateway location to the North Houston District and its Town Center. The Town Center is a master-planned complex including office towers, hotels, a conference center, an athletic club, child care facilities and related retail and restaurant facilities. With more than 20 million square feet of office, retail and industrial/flex space, the North Houston District is a key player in the region’s economy. The District’s growth is showcased by development activity and an expanding corporate family of local and multi-national companies representing various industries.

Access & Visibility

The Property benefits from several access points from virtually all directions via its location on the north side of Beltway 8 (Sam Houston Parkway) and proximity to Interstate 45 and the Hardy Toll Road, with the best access and visibility from Beltway 8 within its competitive set. Interstate 45 is the Houston area’s major north/south corridor spanning north of the Property to The Woodlands and south to Houston’s Central Business District. Beltway 8 is Houston’s outer loop system providing tenants with excellent access to all of Houston’s premier business centers and high quality residential communities.

222 Benmar Amenities

• Employee Kitchen and Several Coffee Break Rooms

• 1,620 Square Foot Loading Dock with Rollup Galvanized Metal Door

• 3,100 Square Foot Copy/Print/Mail Room

• Vast Array of Area Restaurants and Hotels

• 24-Hour Cardkey Access

• Employee Exercise Park with Trail

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High Performing Surrounding Industrial Submarket

The North Houston industrial submarket continues to be one of the top performing markets in the city. The submarket features Pinto Business Park, a 971-acre, master-planned industrial park located approximately 1.5 miles from 222 Benmar. The park is located at the SW corner of the intersection Interstate 45 and Sam Houston Tollway (Beltway 8). The Park is the largest of its kind in Houston and is complete with drainage, detention, roads and utility infrastructure. These features have allowed the Park to capture tremendous tenant demand in recent years. Notable current tenants or owners in Pinto Business Park include Amazon, Sysco, HD Supply, Victory Packaging, Red Bull, The Reynolds Company and Alfa Laval.

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PINTO BUSINESS PARK


Property description

222 Benmar (the “Property”) is a mid-rise Class A office building completed in 1994 and located at 222 Benmar Drive. The Property is in excellent condition and has been well maintained by current and former ownership with approximately $10,000,000 in capital improvements since 2000.

Beautiful mature trees, shrubbery and seasonal flowers enhance the grounds and the employee exercise area on the west side of the building. The landscaping is protected throughout the Property by an underground irrigation system.

Parking for the building is provided by a three-level concrete parking garage with concrete paved surface parking on the garage roof. The 366 space parking garage is accessible via elevators inside the first floor of the office building and enclosed stairwells.

PARKING SUMMARY

DESCRIPTION NUMBER OF SPACESGarage Spaces 357Garage Handicap Spaces 9Total Parking Spaces 366

The Property

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Property Address 222 Benmar Houston, Harris County, Texas

Building Size Approximately 198,257 square feet

Year Completed 1994

Stories 8

Occupancy 0%

Site Description The 3.8412 acre site is situated in the area bounded by Benmar Drive on the north, Beltway 8 on the south, Greenspoint Drive on the west and Northchase Drive on the east. The site fronts along the south side of Benmar and measures 578.77 feet front by a width in the rear along an irregular course of 587.41 feet, by a depth along the westernmost sideline of 263.39 feet and a depth on the opposite sideline of 344.4 feet.

Zoning The city of Houston has no zoning. However, the North Houston District

is a master-planned development with deed restrictions in place to achieve a balance between the aesthetic appeal of modern living with the vibrant energy of one of the most dynamic markets in Houston.

Typical Floor Plate Typical floor plate is approximately 25,300 square feet

Architectural Finish The exterior of the building is comprised of double pane bronze tinted reflective glass with stainless steel and aluminum bronze metal framing. The ground floor height is 18’ floor to ceiling and 13’9” floor to ceiling on floors 2-8.

The front and back entrances to the building have granite portal framing around double glass doors framed in polished aluminum and stainless steel finishes. The two side entries have glass doors framed in aluminum bronze metal.

Parking Garage The parking garage has three levels (ground plus two elevated levels) with approximately 366 spaces. The garage was constructed in 1993 using a pre-cast concrete tee system in a “Three-Bay Side-By-Side” configuration. Two of the three exit stairs are enclosed in architecturally enhanced stair towers on the north side. An elevator serves each floor and is linked to an air conditioned ground level connection directly to the office building. The office building central plant is located in the parking garage.



FLOOR PLANS - 1-4

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FLOOR PLANS - 5-8



Lighting The lighting is primarily T-8 lamps and electronic ballasts. The majority of exit signs are LED. The remainder are in the process of being converted to LED. Outdoor lighting is comprised of high pressure sodium and standard metal halide fixtures. These fixtures are controlled by timers and/or photocells.

Vertical Transportation There are six Montgomery elevators serving the building. Four passenger elevators are traction with a 350 fpm speed and 3,500 pound capacity, one garage passenger elevator is hydraulic with a 100 fpm speed and capacity of 3,500 pounds. The freight elevator is traction with a speed of 350 fpm and a capacity of 4,000 pounds.

HVAC The air distribution system for this facility is multi-zone VAV with 2 air handlers on each floor. The building controls for the system are pneumatic controls. The central plant is completely Direct Digital Control.

In 2001 the cooling tower was replaced with a larger two cell tower to accommodate increased cooling demand for the data center. The two (2) cell cooling tower is a Marley double flow model.

The central plant houses all 3 chillers for the cooling system. The three (3) chillers are labeled Chiller 1, 2, & 3. Chillers 1 & 2 are Trane Model RTHA rotary screw chillers rated at 300 tons (R-22). Chiller 3 is a Trane Model CVHE centrifugal chiller rated at 320 tons (R-123).

Life Safety Systems Siemens Cerberus Pyrotronics fire panel, installed June 1994 All floors 100% sprinklered Generators - Life Safety (750kw) and Data Center (1250kw) Egress emergency lighting and distribution panels Dry-pipe pre-action system over electrical equipment in the Data Center

and Central Plant Refrigerant leak detection on chillers connected to building automation

systems (BAS) Restroom Facilities There is a set of men’s and women’s restrooms provided on each floor.

Energy Management System There are (2) building automation systems serving this building. A

Tekplan System provides basic temperature set point and automatic start/stop control for the building’s occupied spaces. A Tracer Summit System controls the operation of the chillers and cooling tower.

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Roof System The roof is a Suprema Inc. cold adhesive two ply modified bitumen roof system. The roof was installed in October 2012 and has a 20 year manufacturer’s warranty. The warranty is transferable to the new owner.

Security Card key access system and 24/7 on-site security guard is provided as well as limited vehicular access to and from the garage.

ADA Compliance The Owner makes no legal representations regarding ADA issues at the property. Potential investors should conduct their own investigations to determine the property’s ADA status.

Environmental The Owner makes no legal representations regarding environmental issues at the property. Potential investors should conduct their own investigations to determine the property’s environmental status.

B E N M A R D R I V E

OFFICE BUILDING

PARKINGGARAGE


Location overview

Site Selection magazine has recognized the Houston MSA as one of the top metros in the nation for new and expanded

corporate facilities. Since 2011, the Houston MSA has ranked among the top three metros

for corporate relocations and expansions in the nation.

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The LocationHouston In PerspectiveThe Houston - The Woodlands - Sugar Land Metropolitan Statistical Area (Houston MSA) consists of 9 counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery and Waller. Additional facts about the Houston region:

• The City of Houston is the nation’s fourth largest city with a population of 2.3 million.

• The Houston region ranks fifth among U.S. metropolitan statistical areas (MSA) with a population of 6.9 million.

• The Houston MSA has a gross domestic product of $525.4 billion, fourth largest in the nation.

• The Houston Airport System (HAS) serves 198 domestic and international destinations.

• The Port of Houston is ranked first in the U.S. in foreign tonnage and is the largest Gulf Coast container port.

For companies seeking a young, diverse, highly skilled workforce, Houston abounds with prospects - as one of the youngest major metropolitan areas in the United States. Houston’s median age is 34.0 years, while the U.S. median age is 37.7 years.

Engineers have a strong presence in Houston, which has been described as having “the world’s leading pool of engineering talent.” Houston employs more than 91,800 engineering and architecture professionals, many of whom are involved in the energy industry.

Additionally, Houston has created a workforce development pipeline with a strategic focus on K-16 education - especially in the areas of science, technology, engineering and math to sustain our position as the world’s energy hub. Proactive collaborative research development programs have been established with the area’s more than 60 colleges, universities and other degree-granting institutions.

Workforce and Demographics


Location overview

NRG STADIUM

GEORGE R. BROWNCONVENTION CENTER

DISCOVERY GREEN

HOUSTONARBORETUM

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Industry Strengths

Advanced ManufacturingRanked No. 1 City for Manufacturing in the U.S. by Forbes in 2014, with 6,300 manufacturing establishments in the region, $80 billion dollars of products are produced annually.

Advanced TechnologiesHouston’s vibrant technology industry centers on traditional strengths in energy, medicine and aerospace. The re-gion’s innovation flows from NASA, the Texas Medical Center and three tier one universities including Rice University, the University of Houston and Texas A&M University. More than 175,850 high-tech professionals call Houston home.

EnergyThe Houston MSA is home to more than 4,800 energy-related establishments and employs nearly a third of the na-tion’s jobs in oil and gas extraction. The local energy industry extends from traditional fossil fuels to alternative and renewable energy.

Headquarters and Business Ser vicesThe professional and business services sector thrives in the Houston region and employs nearly 460,000 Houstonians, representing 15.4 percent of all jobs in the region.

Li fe SciencesHouston is the birthplace of nanotechnology and is home to the largest medical complex in the world - the Texas Medical Center (TMC). Houston has more than 190 life science and biotechnology companies as well as academic partnerships; 132 cutting edge hospitals and health clinics, and the country’s top research facilities.

TransportationHouston is a gateway for trade to Mexico, Canada and the enormous expanding markets of Latin America. Houston’s geographic advantages and proximity to major metropolitan centers throughout the U.S. Midwest makes it an ideal venue to set up manufacturing and logistics facilities with fewer supply chain costs.

An International CityHouston’s status as an international center is reflected in the breadth and depth of the city’s international repre-sentation. The region has:

• More than 90 Foreign Consulates in Houston

• 32 active Foreign Chamber of Commerce and Foreign Trade Associations

• 19 foreign banks, representing 9 nations

• More than 730 foreign-owned firms

• More than 430 companies with branches in 144 other nations

• More than 5,700 area firms, foreign government offices and nonprofit organizations involved in international business

• More than 1.5 million Houstonians — or nearly one in four — are foreign born

HOUSTONARBORETUM

HOUSTONARBORETUM


Location overview

127.0%

77.5%

51.1%

46.8%

45.5%

18.9%

17.9%

14.1%

4.4%

-0.4%

-2.5%

NEW YORK CITY

SAN FRANCISCO

BOSTON

WASHINGTON, DC

LOS ANGELES

CHICAGO

PHILADELPHIA

MIAMI

MINNAPOLIS

ATLANTA

HOUSTON, TX

Percent above/below U.S. Average

The Houston region offers a variety of attractive state and local incentives to companies of various sizes and stages of the business life cycle, including:

• Texas Enterprise Fund

• The Cancer Prevention and Research Institute of Texas (CPRIT)

• Foreign Trade Zones

• Manufacturing Sales Tax Exemption

• Pollution Control Property Tax Abatements

• Skills Development Fund

• Freeport Tax Exemption

• Various Local Property Tax Abatement Programs

State and Regional Incentives

Cost of Living Comparisons

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HOUSTON RANKS #1

U-HAUL DESTINATION CITIESHouston Chronicle-May 26, 2017

BEST CITY FOR COLLEGE GRADSMoney-May 11, 2017

WORLD’S MOST COMPETITIVE CITIESTransportation, Energy, Chemicals & Plastics

Site Selection-May 8, 2017

BEST CANCER CARE PROVIDERMD Anderson Cancer Center

U.S. News & World-August 1, 2016

GREENEST METROSBusiness Facilities -July 20, 2017


Appendix

Disclaimer -

This Confidential Offering Memorandum (“Memorandum”) is furnished to prospective purchasers solely to facilitate the purchaser’s consideration of the Property known as 222 Benmar located in Houston, Texas (“Property”). The Memorandum contains proprietary information and was prepared by JLL using information compiled from sources we consider to be reliable. However, the Seller makes no representations or warranties herein and the building is being sold in an “as-is, where-is” condition. By receipt of this Memorandum, you agree that: (a) the Memorandum and its contents are of a confidential nature and that you will hold and treat it in strictest confidence; (b) you will not reproduce, transmit or disseminate the information contained in the Memorandum through any means, or disclose this Memorandum or any of its contents to any other entity without the prior written authorization of JLL nor will you use this Memorandum or any of its contents in any fashion or manner detrimental to the interests of JLL or seller; and (c) upon request you will return the Memorandum without retaining any copy or extracting any portion thereof.

This Memorandum does not purport to be all-inclusive or to contain all the information which prospective purchasers may desire. Certain documents, including leases and other materials, are described herein in summary form. The summaries are not complete descriptions of the full agreements. Interested parties are expected to review all such documents independently. Financial projections are provided for reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond the control of Jones Lang LaSalle and are, therefore, subject to material variation. Additional information and an opportunity to inspect the Property will be made available to qualified prospective purchasers upon request. Each purchase offer is to be based strictly and entirely upon the purchaser’s independent investigation, analysis appraisal and evaluation of facts and circumstances deemed relevant by the purchaser. Neither Jones Lang LaSalle nor any of their respective directors, officers or affiliates have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of this Memorandum or its contents.

This offering is submitted and received with the understanding that all offers for the acquisition of the herein described property will be conducted through JLL. The sellers and JLL expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or terminate discussions with any entity at any time with or without notice.

JLL1400 Post Oak Blvd., Suite 1200Houston, Texas 77056

INFORMATION ABOUT BROKERAGE SERVICESTexas law requires all real estate license holders to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

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INFORMATION ABOUT BROKERAGE SERVICESTexas law requires all real estate license holders to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others, including the broker’s own interests;• Inform the client of any material information about the property or transaction received by the broker;• Answer the client’s questions and present any offer to or counter-offer from the client; and• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any mate-rial information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:

• Must treat all parties to the transaction impartially and fairly;• May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and• buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.• Must not, unless specifically authorized in writing to do so by the party, disclose:

• that the owner will accept a price less than the written asking price;• that the buyer/tenant will pay a price greater than the price submitted in a written offer; and• any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to

do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.govIABS 1-10


Contact information

Rudy HubbardMANAGING DIRECTORJLL CAPITAL MARKETS

+1 713 425 [email protected]

Kevin McConnSENIOR VICE PRESIDENTJLL CAPITAL MARKETS

+1 713 425 [email protected]

Rick GoingsVICE PRESIDENTJLL CAPITAL MARKETS

[email protected]

ADVISORS

1400 Post Oak Blvd., Suite 1200 | Houston, TX 77056

www.us.jll.com/capitalmarkets

Copyright © Jones Lang LaSalle IP, Inc. 2018This publication is the sole property of Jones Lang LaSalle and must not be copied, reproduced or transmitted in any form or by any means, either in whole or in part, without the prior written consent of Jones Lang LaSalle. The information contained in this publication has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the accuracy of this information. We would like to be informed of any inaccuracies so that we may correct them. Jones Lang LaSalle does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication. Jones Lang LaSalle Americas, Inc., California license # 01223413. Jones Lang LaSalle Americas, Inc. License # 19262.

+1 713 425 5855

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