houston retail pairing - loopnet

HOUSTON RETAIL PAIRING

3832 ATASCOCITA ROAD, HUMBLE, TEXAS

5950 GULF FREEWAY, HOUSTON, TEXAS

INVESTMENT OVERVIEW

3832 ATASCOCITA ROAD, HUMBLE, TEXAS Address

CBRE Houston Retail Team, on behalf of Ownership, is pleased to offer for sale the Houston Retail Pairing (the “Portfolio” or “Properties”). The Portfolio is comprised of two retail strip centers, each with their own defining characteristics and investment drivers, offering purchasers a unique opportunity to acquire two high-quality retail centers in a single transaction.

The Portfolio features two highly desired strip centers with an excellent mixture of National, Regional and Local tenants. With less than 8% rollover in the first five years, the Houston Retail Pairing offers investors an extremely stable income stream.

This Offering represents the truly rare occasion to purchase a diverse collection of high-quality, well placed retail strip centers in the Houston MSA.

5,994 Square Feet

100% Occupied

5950 GULF FREEWAY, HOUSTON, TEXAS Address

8,625 Square Feet

100% Occupied

PRO

PER

TY T

WO

2004 Year built

2015 Year built

H&R BLOCK, FAST MED URGENT CARE, CRICKET Major Tenants

AT&T, AMERICA’S BEST GLASSES Major Tenants

PRO

PER

TY O

NE

2

ExEC

uTI

VE S

uM

MAR

Y

PORTFOLIO SUMMARY

NUMBER OF BUILDINGS 2

SIZE 14,619 SF

OCCUPANCY 100.0%

LAND AREA ± 1.34 AC

MAJOR TENANTS

2015 Year built

AT&T, AMERICA’S BEST GLASSES Major Tenants

3 ExECu

TIVE SuM

MAR

Y

3832ATASCOCITA

3238 ATASCOCITA, HUMBLE, TEXAS

POPuLATION 1-MILE 3-MILE 5-MILE

2019 POPuLATION 14,518 73,250 158,768

2024 POPuLATION 15,979 83,010 178,203

2010-2019 GROWTH 32.8% 30.8% 25.7%

2019-2024 GROWTH 9.7% 12.7% 11.7%

INCOME 1-MILE 3-MILE 5-MILE

2019 AVG HH INCOME $89,259 $105,038 $108,433

5950 GULF FREEWAY, HOUSTON, TX

POPuLATION 1-MILE 3-MILE 5-MILE

2019 POPuLATION 16,825 151,611 373,122

2024 POPuLATION 17,377 156,784 393,028

2010-2019 GROWTH 4.4% 5.0% 9.4%

2019-2024 GROWTH 3.3% 3.4% 5.2%

INCOME 1-MILE 3-MILE 5-MILE

2019 AVG HH INCOME $54,221 $49,675 $64,456

4

ExEC

uTI

VE S

uM

MAR

Y

3832ATASCOCITA

5 ExECu

TIVE SuM

MAR

Y

KROGER SHADOW-ANCHORED RETAIL CENTER The Property is shadow-anchored by Kroger, one of Houston’s most dominant grocery providers, and benefits from cross-shopping synergies at the center.

SURROUNDED BY NATIONAL RETAILERS Bank of America, AutoZone, Baskin-Robbins, Church’s Chicken, Walgreens, Sonic, Taco Bell, and Family Dollar to name a few.

6

ExEC

uTI

VE S

uM

MAR

Y

INVESTMENT DRIVERSHIGH QUALITY SUBURBAN MARKET WITH EXCELLENT DEMOS Surrounded by rooftops in one of Houston’s most desirable suburbs, with average household incomes within a 3-mile radius exceeding $105,000 per year, and a 3-mile population of over 73,000 residents.

SECURITY OF INCOME THROUGH STAGGERED ROLLOVER Ownership will benefit from a staggered rollover schedule, with only 20% rolling during the next five years, ensuring predictable cash flow and mitigating downside risk as leases mature.

NATIONAL, E-COMMERCE RESISTANT TENANT LINEUP

5,000+ Locations Nationwide



158K5-MILE

POPuLATION

31%GROWTHSINCE 2010

$108K5-MILE

HH INCOME

7 ExECu

TIVE SuM

MAR

Y

FLOOD PLAINAccording to the FEMA flood map for Harris County, Texas, the Property lies within zone “x”, outside the 500 year flood plan, with less than 0.2% annual probability of flooding.

INGRESS/EGRESSThe Property is accessible via three (3) primary access points located on the West, Souh and East border of the Property.

• Atascocita Road - 26,850 VPD

• Will Clayton Blvd - 19,470 VPD

PROPERTY DETAILS

2004 ± 0.50 AC 5,994 100% 39 SPACES6.51/

1,000 SF

100%

Year Built Land Area Gross Leasable Area Occupancy Parking Spaces Parking Ratio

ZONING

There are no zoning restrictions in Harris County

TRAFFIC COUNTS

PARCEL # LEGAL DESCRIPTION ACREAGE

1240650010007 RES B1 BLK 1 ATASCOCITA CENTER 0.498TOTAL 0.498

8

PRO

PER

TY D

ETAI

LS

ATASCOCITA RD - 26,850 VPD

CRESTLINE RD

WILL C

LAYTON

PKWY - 19,470 VPD

Dai

quiri

s

9 PR

OPER

TY DETAILS

POPULATION 1 MILE 3 MILES 5 MILES

2019 POPuLATION - CuRRENT YEAR ESTIMATE 14,518 73,250 158,768

2024 POPuLATION - FIVE YEAR PROJECTION 15,979 83,010 178,203

2010-2019 POPuLATION GROWTH RATE 32.8% 30.8% 25.7%


EDUCATION 1 MILE 3 MILES 5 MILES

ASSOCIATE`S DEGREE 11.6% 9.8% 9.0%

BACHELOR`S DEGREE 16.7% 23.1% 24.8%

GRADuATE OR PROFESSIONAL DEGREE 6.6% 9.4% 11.1%

TOTAL 44.9% 42.3% 44.9%

DAYTIME POPULATION 1 MILE 3 MILES 5 MILES

DAYTIME WORKERS 1,872 18,651 61,655

DAYTIME RESIDENTS 7,989 36,843 78,828

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2019 HOuSEHOLDS - CuRRENT YEAR ESTIMATE 4,471 22,559 52,841

2024 HOuSEHOLDS - FIVE YEAR PROJECTION 4,967 25,529 58,959

2010-2019 HOuSEHOLD GROWTH RATE 30.7% 30.6% 24.1%


HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES

2019 AVERAGE HOuSEHOLD INCOME $89,259 $105,038 $108,433


HOUSING VALUE 1 MILE 3 MILES 5 MILES

2019 AVERAGE HOME VALuE $260,119 $263,659 $289,490

PLACE OF WORK 1 MILE 3 MILES 5 MILES

2019 BuSINESSES 158 1,805 4,992

2019 EMPLOYEES 1,577 16,849 52,133

DEMOGRAPHIC PROFILE

5950GULF FREEWAY1

0

PRO

PER

TY D

ETAI

LS

5950GULF FREEWAY

11

PRO

PERTY D

ETAILS

12

PR

OPE

RTY

DET

AILS

PREMIER FRONTAGE ON I-45 The Property features ±145 feet of frontage on IH-45, one of Houston’s most trafficked thoroughfares, providing for unmatched visibility and convenient access for both local and transient customers alike. Strategically placed along a dense retail corridor, the Property also benefits from cross-shopping generated by national retailers like Walmart, Harbor Freight Tools, and Chick-fil-A.

13

PRO

PERTY D

ETAILS

INVESTMENT DRIVERS

IRREPLACEABLE URBAN INFILL LOCATION Located inside of Loop 610, representing Houston’s urban Core, 5950 Gulf Fwy is an irreplaceable urban infill location with prime access to one of the Nation’s busiest freeways in one of the Nation’s largest cities.

OUTSTANDING TRAFFIC COUNTS & EXCELLENT VISIBILITY Traffic counts exceed 229,000 VPD along IH-45, providing maximum exposure to the Center and exceptional visibility to passersby.

FULLY STABILIZED WITH LONG TERM ROLLOVER The Property is 100% occupied with staggered long-term leases, providing investors with stable cash flows through the hold period.

HIGH QUALITY TENANT LINEUP

2015 ± 0.84 AC 8,625 100% 39 SPACES4.52/

1,000 SF

FLOOD PLAINAccording to the FEMA flood map for Harris County, Texas, the Property lies within zone “x”, outside the 500 year flood plan, with less than 0.2% annual probability of flooding.

INGRESS/EGRESSThe Property is accessible via four (4) primary access points, with two (2) located along the southern border, and one on each the western and eastern borders.

• I-45 Gulf Freeway - 229,170 VPD

• Wayside Drive - 31,281 VPD

PROPERTY DETAILS100%

Year Built Land Area Gross Leasable Area Occupancy Parking Spaces Parking Ratio

ZONING

There are no zoning restrictions in Harris County

TRAFFIC COUNTS

PARCEL # LEGAL DESCRIPTION ACREAGE

1309430010001 RES A BLK 1 ORTB WAYSIDE LTD 0.8374TOTAL 0.8374

14

PR

OPE

RTY

DET

AILS

Abo

gado

Aly,

PLL

C

45

GULF FWY SERVICE RD - 229,170 VPD

MA

XWEL

L LN

7Spi

ce C

ajun

15

PRO

PERTY D

ETAILS

POPULATION 1 MILE 3 MILES 5 MILES

2019 POPuLATION - CuRRENT YEAR ESTIMATE 16,825 151,611 373,122

2024 POPuLATION - FIVE YEAR PROJECTION 17,377 156,784 393,028



EDUCATION 1 MILE 3 MILES 5 MILES

ASSOCIATE`S DEGREE 4.2% 5.0% 4.9%

BACHELOR`S DEGREE 8.8% 9.1% 13.5%

GRADuATE OR PROFESSIONAL DEGREE 4.2% 4.2% 10.2%

TOTAL 17.20% 18.30% 28.60%

DAYTIME POPULATION 1 MILE 3 MILES 5 MILES

DAYTIME WORKERS 6,588 76,288 367,792

DAYTIME RESIDENTS 9,137 86,805 197,698

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

2019 HOuSEHOLDS - CuRRENT YEAR ESTIMATE 4,842 46,052 128,823

2024 HOuSEHOLDS - FIVE YEAR PROJECTION 4,990 47,603 137,454



HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES



HOUSING VALUE 1 MILE 3 MILES 5 MILES

2019 AVERAGE HOME VALuE $154,524 $159,990 $202,709

PLACE OF WORK 1 MILE 3 MILES 5 MILES

2019 BuSINESSES 541 4,924 17,071

2019 EMPLOYEES 5,805 64,979 347,121

DEMOGRAPHIC PROFILE

16

PR

OPE

RTY

DET

AILS

A F F I L I A T E D B u S I N E S S D I S C L O S u R ECBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

C O N F I D E N T I A L I T Y A G R E E M E N TYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

D I S C L A I M E RThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all- inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDuM IS SOLELY AT YOuR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

17 PR

OPER

TY DETAILS

DISCLOSuRE & AGREEMENT

MATT BERRY

First Vice President713 577 1640 [email protected]

DREW REINKING

Senior Financial Analyst713 577 1579 [email protected]

ROBBIE KILCREASE

Vice President713 577 1657 [email protected]

D E B T A N D S T R u C T u R E D F I N A N C E E X P E R T

JEFF STEIN

Senior Vice President & Co-Head Houston DSF713 787 1906 [email protected]

LAUREN MCGINNITY

Transaction Analyst713 577 [email protected]

CBRE CONTACTS

3832 ATASCOCITA ROAD, HUMBLE, TEXAS

5950 GULF FREEWAY, HOUSTON, TEXAS

houston retail pairing - loopnet

Documents