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Presented by Austin Alvis | 281.477.4300 | www.newquest.com

Eldridge Plaza - Offering Memorandum928 N. ELDRIDGE PARKWAY | HOUSTON, TEXAS

$2,128,800

6.00% Cap Rate

• Two-tenant retail center• 100% leased, new 5-year leases• Irreplaceable real estate• Below market rents

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NewQuest Properties is pleased to exclusively

offer for sale a fully-leased retail building

totaling 4,800 square feet (“SF”) in Houston,

Texas identified as Eldridge Plaza (the

“Property”). Located in the heart of the

Energy Corridor, the Property sits in the

southeast corner of Interstate 10 (the Katy

Freeway) and North Eldridge Parkway. The

property benefits from high visibility and

traffic generated by the daytime population in

and around the Energy Corridor, commuting

traffic along Interstate 10, and major

residential areas to the South. Directly across

the street from the entrance to the Property

is Conoco Phillips world headquarters in the

Energy Center 3 and Energy Center 4 office

towers.

OFFERING SUMMARY

CONTACT

NewQuest Properties8827 W. Sam Houston Parkway, N.

Suite 200

Houston, Texas 77040

Austin Alvisaalvis@newquest.com

281.477.4335

3POPULATION

1 MILE: 9,938

3 MILES: 81,250

5 MILES: 268,676

AVERAGE HH INCOME

1 MILE: $113,665

3 MILES: $132,090

5 MILES: $110,782

EDUCATIONBACHELOR’S OR HIGHER

1 MILE: 53.61%

3 MILES: 59.25%

5 MILES: 46.85%

DAYTIME POPULATION

1 MILE: 8,790

3 MILES: 88,904

5 MILES: 233,181

MEDIAN AGE

1 MILE: 34.8

3 MILES: 36.9

5 MILES: 35.0

Price: $2,128,800

NOI: $127,728

Cap Rate: 6.00%

Address: 928 N. Eldridge Pkwy. Houston, Texas 77079

Land Size: 18,291 SF (.04199 acres)

Building Size: 4,800 SF

Occupancy: 100%

Year Built: 2000

Tenants: Kolache Factory Dream Kitchen & Bath

Traffic Counts: 51,446 cpd on Eldridge 321,874 cpd on Interstate 10

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ELDRIDGE PLAZA

TULLY STADIUM &SPRING BRANCH ISD ATHLETICS COMPLEX

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Suite Tenant Size (SF) Rent Commencement Lease Expiration Rent / SF Notes

928 Kolache Factory 1,860 9/1/2016 8/31/2021 $31.505-Year Option 8/31/2026 $34.655-Year Option 8/31/2031 $38.12

930 Dream Kitchen & Bath 2,940 10/1/2017 9/30/2022 $23.515-Year Option 9/30/2027 $25.65

Total Occupied SF 4,800 100%

Total Vacant SF 0 0%

Total SF 4,800 100%

Pays pro-rata share of CAM, taxes, and insurance

Pays pro-rata share of CAM, taxes, and insurance

RENT ROLL

TENANTS

Tenant: Kolache Factory

Size: 1,860 SF (38.75% of GLA)

Lease Expiration: 8/31/2021

Renewal Options: Two (five-year) options

Website: www.kolachefactory.com

Kolache Factory was founded in 1982 in Houston, Texas by co-

founders John and Jerri Banks. Kolache Factory has been recognized

across the country as one of the Top 5 Drive-thru’s in America by the

Food Network, one of the fastest growing companies in Houston,

and was recently named one of the top 50 food service bakeries in

the United States by Modern Baking magazine. Kolache Factory is

privately owned and operated, and headquartered in Katy, Texas.

There are currently 26 company-owned and 30 franchise stores

primarily located in the Houston, TX area.

Tenant: Dream Kitchen & Bath

Size: 2,940SF (61.25% of GLA)

Lease Expiration: 9/30/2022

Renewal Options: One (five-year) option

Website: www.dreamkitchenandbathtx.com

Dream Kitchen and Bath was founded in Magnolia, Texas and is a

complete home remodeling company. With two showrooms in the

greater Houston area, the company serves clients in the surrounding

region. Their services include kitchen remodeling, bathrooms,

cabinets, countertops, and design services. The lease is personally

guaranteed by the owners, Emad and Kimberly Takatka.

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The Energy Corridor is a suburban and business community in west Houston that successfully blends residential and urban-style development. Home to more than 300 companies and 91,000 employees, the Energy Corridor has become an epicenter for business development outside of the CBD. Ranked as the third largest employment center in the City, the area also boasts over 26,000 acres of parks, affluent residential neighborhoods, and leading schools, positioning the Energy Corridor as a leading example of how to combine urban convenience with suburban amenities.

THE ENERGY CORRIDOR

TOP EMPLOYERS

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The Energy Corridor District

Large Employers*Master Plan Focus Areas

The Energy Corridor District Context

The Energy Corridor District in Context

WOOD GROUP

TEXAS CHILDREN’SHOSPITAL

HOUSTON METHODIST HOSPITAL

The Energy Corridor

THE ENERGY CORRIDOR DISTRICT 2015 MASTER PLAN

THE ENERGY CORRIDOR

DOWNTOWNHOUSTON

THE ENERGY CORRIDOR DISTRICT

5MILES

10MILES

15MILES

CYPRESS

KATY

SUGARLAND

FULSHEAR

MEYERLAND

GREATERHEIGHTS

CHAMPIONS

*Source: Largest Employers in The Energy Corridor, http://www.energycorridor.org/business/largest-employers,

accessed 03 April 2015.

T H E M O S T P O W E R F U L E N E R G Y C O M PA N I E S I N T H E W O R L D C A L L T H I S H O M E

A PLANNED BUSINESS CENTER

The Energy Corridor District’s primary purpose is to increase the value of properties in the District. Local and national property interests recognize the benefit of special districts to protect property owners’ investments and increase values. There are opportunities within the City of Houston that emphasize the benefit of the District’s master planning initiatives, transportation and infrastructure plans, park improvements, maintenance, security and advocacy for its constituents.

The Energy Corridor is a model community of progressive companies recognized as a well-planned, high-quality place that integrates regional and metropolitan commercial development. The District’s Master Plan includes long- and short-term improvements that support current and future economic vitality. The master plan includes a marketing campaign for transit, other commuting options and infrastructure projects that address congestion, increase connectivity and improve traffic operations. Landscape and urban design elements aim to create identity, visual continuity and inviting streetscapes. The District has one of the most significant system of parks and trails in the region which will be tied together through a master plan prepared by the National Park Service.

In its relatively short active life, the Energy Corridor District has registered significant accomplishments. By applying the effort and expertise of its staff in collaborative arrangements with public agencies, the District has leveraged its financial resources to design and implement several key projects. This success would not be possible without maintaining a strong relationship with locally elected representatives.

400 employees400 employees

9,537 employees 845 employees

400 employees450 employees

2,600 employees3,000 employees

• Nearly 800,000 employed persons and more than

43% of all Houston area architects and engineers

live within a 30 minute commute zone of The

Energy Corridor

• Over 75% of the community’s nearly 19 million

square feet of office space is class A

• By 2030, office/mixed-use space is expected to

reach 45.2 million square feet.

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POPULATION• City of Houston: 2.3 million residents• Houston MSA: 6.8 million residents (9 counties)• The Houston MSA is larger than Missouri or Maryland

US COMPARISON• 4th most populous city• 5th most populous metro area• 6th largest U.S. metro economy

ECONOMY• 492.7 billion nominal gross area product for the Houston

MSA• If it were ranked as a country, Houston would rank as the

world’s 23rd largest economy, just behind Taiwan• The Houston GDP is expected to more than double

between 2015 and 2040

INCOME• Per capital personal income (PCPI) of $54,346 (13% above

national average)

EMPLOYMENT (NON-FARM)• Total employment for the Houston MSA was 3,000,000

jobs, more than 35 states• Houston employs more than 25% of the nation’s oil and

extraction jobs• Houston is home to 87,500 engineers and architects, more

than any other US metro area

HOUSING• Single family home closings were 91,485 in 2016 (an

average of one closing every six minutes)

COST OF LIVING• Houston’s cost of living is 5.8% below the national average• Houston’s housing costs are 11.6% below average, and

37.3% below average for large metro areas

Galleria / Uptown

Downtown Houston

HOUSTON QUICK FACTS

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HOUSTON ECONOMY

HOUSTON.ORG — 17

Employment Total nonfarm employment in the Houston MSA stood at

2,800,600 in June 2013, up 97,700 from June 2012.

From June 2012 to June 2013, local nonfarm employment rose 3.6 percent compared to the national increase of 1.7 percent.

Houston MSA unemployment in June 2013 averaged 6.7 percent, versus a national average of 7.8 percent.

Largest Houston Area Employers - 2013Company Employees

Memorial Hermann Health System 19,500

The University of Texas MD Anderson 19,290

United Airlines 17,000

Exxon Mobil Corporation 13,191

Shell Oil Company 13,000

Houston Methodist 13,000

Kroger Company 12,000

National Oilwell Varco 10,000

Schlumberger Limited 10,000

BP America, Inc. 9,537

UTMB Health 9,318

Baylor College of Medicine 9,232

Chevron 9,000

HP 9,000

ARAMARK Corp. 8,500

Pappas Restaurants, Inc. 8,000

HCA 7,855

Macy’s 7,000

AT&T 6,900

The Dow Chemical Company, Freeport 6,100

Baker Hughes Incorporated 6,000

H.E.B. 6,000

St. Luke’s Episcopal Health System 6,000

Texas Children’s Hospital 6,000

Jacobs 5,800

Halliburton 5,748

Fiesta Mart, Inc. 5,500

Archdiocese of Galveston-Houston 5,220

KBR 5,089

LyondellBasell Industries 5,080

CenterPoint Energy 5,000

JPMorgan Chase 5,000

Note: Ranked by number of employees. The list does not include casual dining establishments, municipalities, school districts, community colleges, public universities (except UTMB Health and The University of Texas MD Anderson) and governmental agencies.

Source: Greater Houston Partnership Database, July 2013  

International BusinessHouston, a major international city, consistently ranks among the top three U.S. cities in the number of foreign consulates. It is the base of operations for the international oil and gas exploration and production industry and for many of the nation’s largest international engineering and construction firms.

A key center for international finance, Houston leads the Southwest with 20 foreign banks from 9 nations. The Houston operations of these banks account for 12 of Texas’ 17 foreign bank representative offices and seven of Texas’ nine foreign bank agencies.

Ninety-two nations have consular offices in the city, ranking Houston’s consular corps 3rd largest in the nation.

Fifteen foreign governments maintain trade and commercial offices here, and the city has 25 active foreign chambers of commerce and trade associations.

Consumers can search the Houston Association of Realtors® properties database (HAR.com) in English, Spanish, Chinese, French, German, Italian and Vietnamese. The association’s 5,475 multilingual realtors speak 92 languages other than English.

Houston has two Chinese daily foreign-language newspapers, plus at least 21 less frequently published newspapers and magazines in a variety of languages. Two television stations present programming in Spanish and one station includes programming in Chinese. Spanish broadcasting has a significant presence on radio (14 stations), which also includes programming in several Asian languages.

Houston has 17 sister-city relationships promoting business opportunities across five continents: Australia (1), Asia (6), Europe (7), Africa (1) and Americas (2).

In July 2013, the Greater Houston Partnership’s database listed 3,341 Houston area firms, foreign government offices and nonprofit organizations involved in international business.

• 395 Houston area companies report having offices abroad in 141 countries

• 745 firms in Houston report foreign ownership

Flags representing the U.S. and other countries around the world

Largest Houston Area Employers

Texas Medical Center

CORPORATE ECONOMY• Ranked 4th in the nation among US metro areas for the number of Forbes

Fortune 500 company headquarters• Home to 20 of the Fortune 500, 7 of the Fortune Global 500, and 24 of

Forbes Global 2000 companies

THE TEXAS MEDICAL CENTER• World’s largest medical complex, home to many of the world’s leading

institutions• Encompasses 50 million SF, employs 106,000 people, and over 10 million

annual patient visits

THE PORT OF HOUSTON & HOUSTON SHIP CHANNEL• Nationally ranked 1st in import tonnage for 25 years straight and 2nd in

total tonnage for 23 straight years• The largest Gulf Coast container port• Contributes to over 1,026,820 jobs throughout Texas• Home to the largest petrochemical complex in the U.S. (second largest

in the world)

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Disclaim

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Leasing | Tenant Representation | Development | Land Brokerage | Acquisition | Property Management

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:• ABROKERisresponsibleforallbrokerageactivities,includingactsperformedbysalesagentssponsoredbythe

broker.• ASALESAGENTmustbesponsoredbyabrokerandworkswithclientsonbehalfofthebroker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Puttheinterestsoftheclientaboveallothers,includingthebroker’sowninterests;• Informtheclientofanymaterialinformationaboutthepropertyortransactionreceivedbythebroker;• Answertheclient’squestionsandpresentanyoffertoorcounter-offerfromtheclient;and• Treatallpartiestoarealestatetransactionhonestlyandfairly.

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

AS AGENT FOR OWNER (SELLER/LANDLORD):Thebrokerbecomesthepropertyowner’sagentthroughanagree-mentwiththeowner,usuallyinawrittenlistingtosellorpropertymanagementagreement.Anowner’sagentmustperformthebroker’sminimumdutiesaboveandmustinformtheownerofanymaterialinformationabouttheproertyortransactionknownbytheagent,includinginformationdisclosedtotheagentorsubagentbythebuyerorbuyer’sagent.

AS AGENT FOR BUYER/TENANT:Thebrokerbecomesthebuyer/tenant’sagentbyagreeingtorepresentthebuyer,usuallythroughawrittenrepresentationagreement.Abuyer’sagentmustperformthebroker’sminimumdutiesaboveandmustinformthebuyerofanymaterialinformationaboutthepropertyortransactionknownbytheagent,includinginformationdisclosedtotheagentbythesellerorseller’sagent.

AS AGENT FOR BOTH - INTERMEDIARY:Toactasanintermediarybetweenthepartiesthebrokermustfirstobtainthewrittenagreementofeachpartytothetransaction.Thewrittenagreementmuststatewhowillpaythebrokerand,

inconspicuousboldorunderlinedprint,setforththebroker’sobligationsasanintermediary.Abrokerwhoactsasanintermediary:

• Musttreatallpartiestothetransactionimpartiallyandfairly;• May,withtheparties’writtenconsent,appointadifferentlicenseholderassociatedwiththebrokertoeachparty

(ownerandbuyer)tocommunicatewith,provideopinionsandadviceto,andcarryouttheinstructionsofeachpartytothetransaction.

• Mustnot,unlessspecificallyauthorizedinwritingtodosobytheparty,disclose:• thattheownerwillacceptapricelessthanthewrittenaskingprice;• thatthebuyer/tenantwillpayapricegreaterthanthepricesubmittedinawrittenoffer;and• anyconfidentialinformationoranyotherinformationthatapartyspecificallyinstructsthebrokerinwritingnot

todisclose,unlessrequiredtodosobylaw.

AS SUBAGENT:Alicenseholderactsasasubagentwhenaidingabuyerinatransactionwithoutanagreementtorepresentthebuyer.Asubagentcanassistthebuyerbutdoesnotrepresentthebuyerandmustplacetheinterestsoftheownerfirst.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:•Thebroker’sdutiesandresponsibilitiestoyou,andyourobligationsundertherepresentationagreement.•Whowillpaythebrokerforservicesprovidedtoyou,whenpaymentwillbemadeandhowthepaymentwillbecalculated.

LICENSE HOLDER CONTACT INFORMATION:Thisnoticeisbeingprovidedforinformationpurposes.Itdoesnotcreateanobligationforyoutousethebroker’sservices.Pleaseacknowledgereceiptofthisnoticebelowandretainacopyforyourrecords.

LicensedBroker/BrokerFirmNameorPrimaryAssumedBusinessName

DesignatedBrokerofFirm

LicensedSupervisorofSalesAgent/Associate

SalesAgent/Associate’sName

LicenseNo.

LicenseNo.

LicenseNo.

LicenseNo.

Phone

Phone

Phone

Phone

Email

Email

Email

Email

Buyer/Tenant/Seller/LandlordInitials Date

RegulatedbytheTexasRealEstateCommission(TREC)|Informationavailableathttp://www.trec.texas.gov

The information herein is subject to errors or omissions and is not, in any way, warranted by NewQuest Properties or by any agent, independent associate or employee of NewQuest Properties. This information is subject to change without notice.

8827 W. Sam Houston Parkway N. | Suite 200 | Houston, Texas 77040 | 281.477.4300

Home Asset, Inc., dba NewQuest Properties 420076 - (281)477-4300

H. Dean Lane, Jr. 366134 dlane@newquest.com (281)477-4300

H. Dean Lane, Jr. 366134 dlane@newquest.com (281)477-4300

INFORMATION ABOUT BROKERAGE SERVICES

14

Prospective purchasers are hereby advised the Owners (“Owner”) of the Property are soliciting offers through NewQuest Properties (“NewQuest”), which may be accepted or rejected by the Owners at the Owners’ sole discretion.

Any solicitation of an offer for the Property offered hereunder will be governed by this Offering, as it may be modified or supplemented. Prospective purchasers are advised that as part of the offer process, the Owners will be evaluating several factors including the experience and financial qualifications of the purchasing entity.

The Owners shall have no obligation to accept any offer from any prospective purchaser. The Owners reserve the right to withdraw the Property from consideration at any time prior to final execution of a Purchase Agreement.

This Offering document is furnished to prospective purchasers for the purpose of determining whether to invest in the Property offered hereby. The information contained herein, or any other related information provided by the Owners, may not be reproduced, redistributed or used in whole or in part without the prior written consent of the Owners.

No person has been authorized to give any information or make any representation or warranty, either expressed or implied and, if given or made, such information or representation must not be relied upon.

While the Owners and NewQuest have no reason to believe that the information provided herein or in subsequent information updates delivered to potential purchasers hereunder contains any material inaccuracies, neither the Owners nor NewQuest nor any of the Owners’ or NewQuest’s respective subsidiaries, affiliates, companies, or the officers, directors, employees, agents and representatives of any such entities, etc., make any representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Properties or any other matters set forth herein.

Any obligations to prospective purchasers that the Owners may have with respect to the Properties are limited to those expressly set forth in a fully executed Purchase Agreement between the parties. Prospective purchaser’s sole and exclusive rights against the Owners, with respect to this prospective transaction, the Property, or information provided herein or subsequently, shall be limited to those remedies expressly provided in an executed Purchase Agreement, which shall not survive the closing. Further, in no event shall prospective purchasers have any claims against the Owners, NewQuest, or any of their respective affiliates for any damages, liability, or causes of action relating to the Purchase Agreement.

Prospective purchasers are not to construe the contents of this Offering or any prior or subsequent information communications from the Owners or any of their respective officers, employees or agents as legal, tax or other advice. Prior to purchasing, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the consequences of an investment in the Property and arrive at an independent evaluation of such investment.

No commission or finder’s fee shall be payable to any party by the Owners nor any affiliate or agent thereof in connection with the sale of the Property unless otherwise agreed to by the Owners in writing.

Acquisition of properties such as the these offered hereunder involves a high degree of risk and are suitable only for persons and entities of substantial financial means.

DISCLAIMER

Disclaim

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isclosures

Please Submit Offers to

Austin Alvis281.477.4335

aalvis@newquest.com

8827 W. Sam Houston Parkway, N. Suite 200Houston, Texas 77040www.newquest.com

03.12.2018