EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE OFFICE OFFERING

OFFERING SUMMARY

66,747

1979 / 2002

2.50 Acre(s)

Rentable SFYear BuiltLot Size

PORTWAY PLAZA1717 TURNING BASIN DRHOUSTON, TX 77029

§ Loop 610 East Frontage | Closest Office Building to Port Houston Entrance

§ Leases Staggered Through 2023 | Base Year Gross Rent Structure

§ TPO Roof | Both Rooftop HVAC Units Replaced (2015 and 2017) | VAV System

§ Limited Area Office Building Competition | Low Tenant Turnover Costs

§ Outstanding Freeway Access Near Loop 610 Interchange with IH-10 East

INVESTMENT HIGHLIGHTS

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0040131 Property ID: 844529)

Texas Real Estate Commission Consumer Protection Notice: https://www.trec.texas.gov/sites/default/files/pdf-forms/CN%201-2.pdfTexas Real Estate Commission Information About Brokerage Services: https://www.trec.texas.gov/sites/default/files/pdf-forms/IABS%201-0.pdf

EXCLUSIVELY LISTED BY:

Christopher W. Jones, CCIM

Member, National Office and Industrial Properties Group Tel: (713) 452-4283License: TX 612323chris.jones@marcusmillichap.com www.marcusmillichap.com/ChrisJones

EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE OFFICE OFFERING

PORTWAY PLAZA1717 TURNING BASIN DRHOUSTON, TX 77029

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap. All rights reserved. (Activity ID: Z0040131 Property ID: 844529)

Marcus & Millichap has been exclusively retained to offer for sale a fee simple interest in Portway Plaza in Houston, Texas. The property is available free and clear of any existing financing.

Portway Plaza is a four-story, Class B multi-tenant office building with 66,747 rentable square feet. The building is situated on an approximately 2.50-acre corner lot on Turning Basin Drive (the frontage road of Loop 610 East), providing outstanding freeway access to and from the building near the Loop 610 interchange with Interstate 10 East. Leases are staggered through 2023, with tenants benefitting from freeway accessibility as well as close proximity to the entrance to Port Houston (consistently ranked first in the United States in foreign waterborne tonnage, first in U.S. imports, first in U.S. export tonnage, and second in the U.S. in total tonnage).

Approximately 70 percent leased, the building provides upside to investors through leasing up the property, as well as captive upside in the form of built-in rent escalations, while being partially hedged against rising costs through the base year gross rent structure already in place.

Constructed in 1979 and significantly upgraded over the years, including a TPO roof and replacement of both rooftop HVAC units in 2015 and 2017, the property provides investors the opportunity acquire a well-maintained office property at a significant discount to replacement cost, with low tenant turnover costs, in a limited competition office market and strategically located as the closest office building to the entrance to Port Houston.

Confidentiality/Registration Agreement

SUBJECT PROPERTY: PORTWAY PLAZA, 1717 TURNING BASIN DR, HOUSTON, TX 77029

This Confidentiality Agreement (“Agreement”) is made and agreed to by Marcus & Millichap (“Broker”) as exclusive representative of the Owner of the Subject Property (“Property”) and undersigned principal and/or affiliates and/or assigns (“Principal” or “Potential Purchaser”).

Principal has requested information from Broker for the purpose of evaluating a possible acquisition of the Property. Owner has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those Principals who sign this Agreement.

The parties agree, in consideration of the covenants and agreements contained herein, as follows:

1. Principal will not disclose, permit the disclosure of, release, disseminate or transfer, any information obtained hereunder (“Information”) to any

other person or entity.

2. If Principal is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it.

3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Principal understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker.

4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose.

5. Principal shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants.

6. Principal acknowledges that it is not an agent on behalf of any other party in conjunction with the purchase of the Property.

7. Neither Broker nor Owner make any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Principal assumes full and complete responsibility for the reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same.

8. The Persons signing on behalf of Principal and Broker represent that they have the authority to bind the party for whom they sign.

9. This Agreement shall be governed and construed in accordance with the laws of the State of Texas.

10. Principal agrees to indemnify, defend, protect and hold harmless Broker and Owner against and from any loss, liability or expense, claim or damage, including reasonable attorneys' fees, arising out of any claim or claims by any broker, finder or similar agent for commissions, fees or other compensation for bringing about any investment in the Property.

11. Non-circumvention. Potential Purchaser shall use the Confidential Information solely for the purpose of evaluating, negotiating and implementing a Proposed Transaction and for no other purpose whatsoever. Potential Purchaser agrees that any and all inquiries regarding a Proposed Transaction shall be submitted to Marcus & Millichap and that Potential Purchaser shall not communicate with or contact (or attempt to communicate with or contact) (a) Seller or any of its respective officers, directors, employees, agents, Affiliates, representatives, servicers or attorneys, (b) any borrower, guarantor, obligor, debtor or pledger under any Loan, any of their respective officers, directors, employees, agents, representatives, Affiliates or attorneys, or (c) any tenant of a mortgaged property or their respective officers, directors, employees, agents, representatives, Affiliates or attorneys, without the prior written consent of Marcus & Millichap, which consent may be granted or withheld in Marcus & Millichap’s sole and absolute discretion. If and when it becomes appropriate for Potential Purchaser to conduct due diligence or otherwise communicate directly with Seller, Marcus & Millichap shall provide Potential Purchaser with the name and contact information of Seller’s designated Representative.

No outside broker represents Potential Purchaser. Potential Purchaser is working with Marcus & Millichap, specifically Christopher W. Jones, with the understanding that Marcus & Millichap is also representing the Seller. If Potential Purchaser and/or an entity to which Potential Purchaser is a part and/or affiliated is/are successful in acquiring any portion or all of the above referenced property within twelve (12) months from the date below, it is hereby acknowledged that Christopher W. Jones of Marcus & Millichap is the procuring cause. Potential Purchaser and/or entity also acknowledge(s) that it/they is/are acting as a PRINCIPAL ONLY and as such is/are not entitled to any commission.

Principal Name: By (Signature):

Address: Print Name:

Date:

Phone:

Fax:

Email:

11‐2‐2015 

InformationAboutBrokerageServicesTexas 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 material 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: 

o that the owner will accept a price less than the written asking price; o that the buyer/tenant will pay a price greater than the price submitted in a written offer; and o 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. 

 

Marcus & Millichap 9002994 tim.speck@marcusmillichap.com (972) 755-5200 Licensed Broker /Broker Firm Name or Primary Assumed Business Name 

   

License No.  Email  Phone 

Tim A. Speck 432723 tim.speck@marcusmillichap.com (972) 755-5200 Designated Broker of Firm  License No.  Email  Phone 

David H. Luther 599555 david.luther@marcusmillichap.com (713) 452-4200 Licensed Supervisor of Sales Agent/ Associate 

   

License No.  Email  Phone 

Christopher W. Jones 612323 chris.jones@marcusmillichap.com (713) 452-4283 Sales Agent/Associate’s Name  License No.  Email  Phone 

 Buyer/Tenant/Seller/Landlord Initials Date

Regulated by the Texas Real Estate  Commission  Information available at www.trec.texas.gov 

IABS 1-0