bay terrace i & ii webster, tx

8/3/2019 Bay Terrace I & II Webster, TX

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COLLIERS INTERNATIONAL

BAY TERRACE I & II| OFFERING MEMORANDUM

Bay Terrace I & IIOfering MemorandumFor Sale | InvestmentOpportunity

17155 FEATHER CRAFT LN

555 FORGE RIVER RD

WEBSTER TEXAS


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COLLIERS INTERNATIONALBAY TERRACE I & II | OFFERING MEMORANDUM

INVESTMENT SUMMARY

Investment Highlights

THE OPPORTUNITY

Bay Terrace I & II are single story oce/technical/engineering acilities located in the Bay Terrace subdivision oClear Lake City. The Bay Terrace subdivision is a deed restricted and architecturally controlled development.

Bay Terrace I is located at the corner o Feather Crat Lane and Forge River Road, just south o Bay Area Boule-vard and El Camino Real. The improvements were constructed in 1993 and are situated on 6.15 acres o land,which equates to a land to building ratio o 2.92:1. The open concrete parking lot consists o 221 parking spaces,resulting in a 2.25/1,000 parking ratio.

The improvements are 100% sprinklered and air conditioned. The tiltwall construction consists o exposed rockand plate glass aade in the ront and is situated on a concrete slab oundation.

Bay Terrace I is 85% leased to United Space Alliance (69,132 SF) and Lockheed Martin Corp (8,921 SF). TheUnited Space Alliance space consists o (2) separate leases, one consisting o 32,503 SF expiring in September2015 and one consisting o 36,629 SF expiring in September 2013. The Tenant has a onetime right to surrenderapproximately 20,000 SF in December o 2012. It is anticipated that the tenant will exercise this option; however,notice to Landlord is not required until October o 2012.


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INVESTMENT SUMMARY


THE OPPORTUNITY

Bay Terrace II is adjacent to Bay Terrace I, at the corner o Forge River Road and Medical Center Boulevard. Theimprovements were constructed in 1994 and are situated on 8.3 acres o land, which equates to a land to building

ratio o 3.33:1. The open concrete parking lot consists o 455 parking spaces resulting in a 4.19/1,000 parkingratio.

The improvements are 100% sprinklered and air conditioned. The tiltwall construction consists o exposed rockand plate glass aade in the ront and is situated on a concrete slab oundation. The improvements are cong-ured or grade level loading and consist o a mix o 18 24 overhead doors at the rear o the property.

Bay Terrace II is 81% leased to Lockheed Martin Corp. (78,383 SF) and Raytheon (9,138 SF). The Lockheedspace consists o (2) separate leases. The Tenant will be vacating 30,176 SF in March o 2012, while the remain-der o their space is leased until May o 2018 (with a termination option ater March o 2014). Once Lockheedvacates their space in March o 2012, the property will be at 53% occupancy.


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INVESTMENT SUMMARY


INVESTMENT HIGHLIGHTS

Value Add Investment Opportunities - Bay Terrace I & II are currently 83% leased to United Space Alliance,Lockhead Martin Corp and Raytheon Corporation. As o March 2012, the properties will be 68% occupied, barring

any new leasing and/or expansions. Investors will have the opportunity to utilized the in-place cash fow romcredit tenants while increasing the NOI with new leasing and renewals.

Well Positioned for Growth and Repositioning - Bay Terrace I & II are located in the deed restricted Bay Terracesubdivision o Clear Lake. The properties are located to the east o the Clear Lake Regional Medical Center, whichas a $92 million expansion underway. The recently built 373,000 square oot Clear Lake Hospital has also addedto the economic momentum o the area.

The positioning o Clear Lake in relation to the Port o Houston and Houston Ship Channel al lows many tenants tooccupy manuacturing and distribution acilities in the Port o Houston area while allowing oce use in ClearLake.

OVERVIEW

Property: Bay Terrace I Bay Terrace II

Address: 17155 Feather Crat Ln. 555 Forge River Rd.

NRA: 91,800 SF 108,878 SF

Occupancy: 83% 83%

Year Built: 1993 1994

Floors: 1 1

Acerage: 6.15 AC 8.3 AC

Parking: 221 Parking Spaces 455 Parking Spaces


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BAY TERRACE I & II17155 FEATHER CRAFT WEBSTER, TEXAS

555 FORGE RIVER WEBSTER, TEXAS

CONFIDENTIAL OFFERING MEMORANDUM

Colliers International has been retained as the exclusive broker or the disposition o Bay Terrace I & II (Property) located at 17155 Feather Crat and 555 Forge Riin Houstons Clear Lake Submarket located just east o Interstate 45 & Bay Area Boulevard. The properties are comprised o 200,378 SF o single story ofce/technicengineering space in two (2) buildings; 91,800 SF and 108,578 SF. The properties are ully sprinklered and 100% air conditioned. The properties have a combined

cupancy o 83% and represent excellent value add propositions.

PRESENTED EXCLUSIVELY BY:

David L. CarterCCIM, SIOR

Principal/Director | HoustonDIRECT +1 713 830 2135

EMAIL [email protected]

Coy Davidson

Senior Vice President | HoustonDIRECT +1 713 830 2128


Ivonne Gonzalez

Project Coordinator | HoustonDIRECT +1 713 830 2161


Colliers International

1300 Post Oak Boulevard, Suite 200

Houston, Texas 77056

MAIN +1 713 222 2111

FAX +1 713 830 2118


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bay terrace i & ii webster, tx

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