nwq westheimer pkwy & s fry rd cinco-westheimer parkway plaza...

STABILIZED RETAIL CENTER IN TOP PERFORMING MASTER PLANNED COMMUNITY

NWQ WESTHEIMER PKWY & S FRY RD

CINCO-WESTHEIMER PARKWAY PLAZA

PROPERTY INFORMATION

S FRY

RD

S FR

Y RD

WESTHEIMER PKWY

WESTHEIMER PKWY

SILV

ERBI

LT TR

AIL L

N

LARIAT CANYON DR

SERR

ANO

TRAI

L

ARROW FIELD LN

INDIAN GROVE LN

NELLIE GAIL TRAIL LN

SITESITE

26,399 CPD

17,252 CPD

29,06

0 CPD

13,58

7 CPD

CINCO RANCH - PARK HOLLOW78 HOMES

$250-$320K

CINCO RANCH - PARK VIEW203 HOMES$230-$280K

CINCO RANCH - PARK TRACE178 HOMES$230-$310K

KELLIWOODPOINTE

83 HOMES$285-$400K

MULTI-FAMILY269 UNITS

OFFERED FOR SALE Gross Area 17,500 SFLocation 20680 Westheimer Parkway, Katy, TexasOccupancy 100%NOI $374,231Sale Price $5,200,000 (Financing Available)

Transwestern is pleased to exclusively offer for sale Cinco-Westheimer Parkway Plaza (the “property”), a 17,500 square-foot (“SF”) retail center located in Katy, Texas. The stabilized center features a distinguished lineup of both national and local tenants including EZ Floors, La Balance Cuisine, Window & Home Decor, State Farm, 9Round and Gentle Dental. The property is nestled within the affluent 8,092 acre Cinco Ranch master-planned community, a nationally recognized top selling residential development. The success of the Cinco Ranch development

has fueled the explosive residential growth within Katy over the past 25 years. The Katy trade area is highly sought after due to its flourishing master planned communities, award-winning school district and close proximity to the Energy Corridor. The Energy Corridor is the third largest employment center in Houston with over 91,000 jobs. The property is surrounded by a dense, well-educated population with more than 59% achieving a Bachelor’s degree or higher, average household incomes of $134,000 and home values averaging $327,000 within a one mile radius.

CINCO-WESTHEIMER PARKWAY PLAZASTABILIZED RETAIL CENTER IN TOP PERFORMING MASTER PLANNED COMMUNITY

AREA RETAILERS

INVESTMENT HIGHLIGHTS - Located in the Heart of Cinco Ranch and Surrounded by Some of the Highest Incomes and Population Densities in Houston- Katy and the Surrounding West Houston Communities are Among the Fastest Growing in the Nation with Nearly 7,000 Homes Added in the Last 18 Months and an Additional 23,000 Future Lots Planned for Development- 100% Occupied Neighborhood Retail Center Surrounded by 3,000 Homes within a One Mile Radius- Limited Competition and High Barriers to Entry in Immediate Area Provides Long Term Stability- Property is Offered Free and Clear with No Debt Obligations- New, Non-recourse CMBS Financing Available (See Quote)

AREA EMPLOYERS


TENANT OVERVIEW

EZ Floors | 3,000 SF, Lease Expiration 4/30/2020

EZ Floors, Inc is a Houston based company offering a variety of flooring options including high quality carpet, hardwood, laminate, tile and stone. EZ Floors was founded in 2005 and currently boasts eight locations in the Houston MSA. In addition to their extensive product showrooms, EZ Floors specializes in custom interior design consultation, installation, follow-up care and maintenance.

www.ezfloorsonline.com

LOCATION: NWQ Westheimer Parkway and S Fry RoadADDRESS: 20680 Westheimer Parkway, Katy, Texas 77450ACRES: 1.59YEAR BUILT: 2005GROSS AREA: 17,500 SFOCCUPANCY: 100%CONSTRUCTION: Cinderblock, brick and EIFS façade and concrete parking lotPARKING SPACES: 78 (4.46/1,000) NOI: $374,231SALE PRICE: $5,200,000CAP RATE: 7.2%

INVESTMENT OVERVIEW

La Balance Cuisine | 2,000 SF, Lease Expiration 8/31/2018

La Balance Cuisine offers guests a contemporary twist on classic French cuisine. A Katy staple since 2013, La Balance Cuisine is open for lunch and dinner six days a week and offers diners French dishes such as Foie Gras, Chicken Paillard, Boeuf Bourguignon and Poulet Cordon Bleu. In addition to their lunch and dinner menus, La Balance Cuisine operates on Saturdays for brunch and serves an extensive wine list and house-made desserts. La Balance Cuisine is owned and operated by general manager Manuel Atenco, who brings extensive fine dining knowledge derived from over 25 years of experience in the food and wine industry.

www.labalancecuisine.com

Window & Home Décor | 2,030 SF, Lease Expiration 9/30/2019

Window & Home Décor is a locally-owned window treatment and home décor business serving the greater Houston area. Window & Home Décor specializes in custom designed shutters, blinds, shades, draperies and valances. Their experienced designers offer in-house consultation and oversee the design process through installation. The Window & Home Décor showroom also features a variety of unique merchandise including beds, bedding, rugs, artwork, lamps, mirrors and accessories, ideal for the growing residential neighborhoods in west Houston.

www.windowandhomedecor.com


http://www.conservatorydayspa.com/

TENANT OVERVIEW CONT.

9Round | 1,820 SF, Lease Expiration 4/30/2023

With over 520 locations across 11 countries, 9Round is the largest and fastest-growing kickbox fitness franchise in the world. Founded in 2008 by professional kickboxer Shannon Hudson and his wife, Heather, 9Round is a specialized fitness center that brings boxing and kickboxing fitness training to the average person in a convenient, affordable, 30-minute, full-body circuit format. 9Round is projected to open 100 additional locations in 2017, and company plans call for having a total of 1,000 locations by the end of 2018. 9Round has consistently ranked among the Entrepreneur Magazine’s prestigious Franchise 500 list from 2013 - 2017 and also ranked on Inc-5000’s list in 2016.

www.9round.com

Gentle Dental | 1,500 SF, Lease Expiration 12/31/2020

Gentle Dental offers a full range of general, cosmetic and reconstructive dentistry services such as teeth whitening, crowns, preventive care, emergency care and implants as well as pediatric dentistry. Utilizing state-of-the-art technology, Gentle Dental provides patients with an effective and affordable dental experience. Dr. Chih Chung, the primary dentist at the Cinco-Westheimer location, has over 20 years of dental experience both as a clinical Assistant Professor at NYU and owner of a private practice in New York prior to relocating to Texas. Gentle Dental was founded by Dr. Marina Akerman in 1987. Dr. Marina Akerman currently oversees the practice, operating two locations in the Katy trade area with five additional locations throughout northwest Houston. Gentle Dental received the Best of Katy award from 2010-2013.

www.texasgentledental.com

State Farm | 1,260 SF, Lease Expiration 8/31/2020

State Farm is a mutual company that makes its primary focus its policyholders. With more than 65,000 employees and 18,000 independent contractor agents, State Farm services 83 million policies and accounts throughout the United States. State Farm was founded in 1922 with corporate headquarters located in Bloomington, Illinois. In 2016, State Farm was the 35th Ranked Company on the Fortune 500 list and has been rated as the number one auto insurer in the United States since 1942. Tenant, Ed Perez, has been servicing State Farm customers since 1984 and is currently ranked as the number one Cinco Ranch Agent.

www.statefarm.com


http://www.planetbeach.com/

http://www.kingwoodspeech.com/

HOUSTON OVERVIEW

HOUSTON’S NATION-LEADING STATISTICSNo. 1 Top Destination Cities U-Haul May 2017No. 1 Top U.S. Metro for Exports in 2015 Department of Commerce September 2016No. 1 Top Metro Residential Growth from 2014-2015 U.S. Census March 2016 No. 1 Fastest Growing Cities in 2014 Forbes January 2015No. 1 Top Market for Real Estate Investment for 2015 Houston Chronicle October 2014No. 1 Market to Watch in 2015 Urban Land Institute October 2014No. 1 Best Cities for Manufacturing Forbes June 2014No. 1 Top U.S. Manufacturing Cities Manufacturers’ News January 2014No. 1 Strongest Economy PPR Global December 2013No. 1 Top Cities for Global Trade Global Trade August 2013

Houston has a GDP of $503 billion, making it the fourth largest city in the United States and the largest city by population in Texas. Over 6.7 million people call the Houston metro area home. Since 2000, Houston’s population has grown by over 28 percent, the second-highest rate in the country. Named the Number One Market to Watch in 2015 by Urban Land Institute, Houston has consistently been a national leader in employment and population growth. The Houston MSA population grew by over 725,000 residents between 2010 and 2016, with an average of 120,000 projected new residents added each year. It also boasts the second fastest-growing housing market in the United States. If Houston maintains its average growth rate, Houston will surpass Chicago as the country’s third most populous city by 2030.

The Houston MSA has added over 1.2 million jobs over the past 25 years, ranking it third in the nation. The rapid job growth can be attributed to the 26 Fortune 500 headquarters, and 53 Fortune 1000 companies located in Houston, ranking it third among metro areas. From 2000-2016, the city has added a variety of aerospace, technology, manufacturing and medical companies to the economic mix, generating more than 783,000 diverse jobs. The city’s healthcare sector is the largest sector in 2016, surpassing energy and is growing rapidly. The Texas Medical Center (TMC) located in Houston is the largest in the world with 21 renowned hospitals, 106,000 employees and 8 million visits per year and at $25 billion in GDP, it is the 8th largest business district in the United States. There are currently $3.5 billion in construction projects underway, including the planned $1.5 billion TMC3 Collaborative Institute, a new research campus to leverage the collective power of TMC’s renowned institutions in a shared, centrally managed environment. Houston’s economy is also anchored by the Port of Houston, one of the world’s busiest ports. The Port of Houston is ranked first in the U.S. in both domestic import and export tonnage and second in the U.S. in total tonnage and creates more than one million Texas jobs, generating more than $265 billion in statewide economic impact equating to 16% of state GDP.

The city boasts a steadily growing housing market, currently ranked second in the nation in housing starts, behind Dallas. New home construction and sales have remained steady while prices have continued on an upward trend. Tax rates are low and the city’s political climate is aggressively pro-business, with officials consistently opposing new zoning laws so as not to stifle the city’s growth.


KATY AREA TRADE OVERVIEW • Located 25 miles west of Houston’s Central Business District, Katy is a nationally recognized, premier suburb of

Houston. The area has experienced tremendous growth over the past 25 years and since 2010 has continued to expand at a rate of 21%, bringing the current population to over 330,000 people. Katy is expected to grow an additional 15% over the next five years and has an expected population of 550,000 by the year 2035.

• The economy in the Katy area accounts for over $21 billion in sales and includes over 11,000 companies with over 200 corporate headquarters. Situated along Interstate 10, Katy is adjacent to Houston’s renowned Energy Corridor with over 24 million SF of office. Leading area employers in Katy and the Energy Corridor include: Katy ISD, Academy Sports, BP North America, ConocoPhillips, GEICO, Schlumberger, Methodist Hospital West, Texas Children’s Hospital West and Memorial Hermann Katy.

• Katy is comprised of 13 master-planned communities with over 108,000 total homes. The property is located in Cinco Ranch, an affluent 8,092 acre master planned community which has previously claimed the top spot as the most active community of home building in the United States and fueled the residential growth in Katy for the last two decades.

• Katy’s growth is fueled by the nationally recognized, award-winning Katy ISD school system, which has grown to over 73,000 students.

• The demographics of the Katy area are grounded in a strong income base with an average household income of $120,000 and over 49% of the residents in this area hold some type of formal education from associates degrees to doctorates.

DEMOGRAPHICS1 MILE 3 MILES 5 MILES

Population 9,295 97,180 255,477

Average HH Income $134,498 $129,608 $112,151

Owner Occupied Median Housing Value

$275,873 $265,956 $232,229

2016 Sitewise Demographic Estimates

TRAFFIC COUNTSWesthimer Pkwy W of S Fry Rd 26,399 cpd

S Fry Rd N of Westhimer Pkwy 29,060 cpd

Westheimer Pkwy

610

10

45

288

249

8

6

99290

59

Houston

Jersey Village

Sugar Land

Pearland

Katy

Westheimer Pkwy


PROJECTED ANNUAL OPERATING STATEMENT

IN PLACE

Base Rent

Occupied Space 374,231

Utility Access Fee –

Gross Potential Rent 374,231

Total Reimbursements 150,757

Gross Income 524,988

Less: General Vacancy –

Effective Revenue 524,988

Reimbursable Operating Expenses

CAM 19,642

Real Estate Taxes 98,393

Insurance 10,758

Utilities 6,326

Management Fee 15,638

Total Reimbursements 150,757

Net Operating Income $374,231

Notes:(1) Reconciliation expected to occur at year end.


DEAL TERMS

Deal Type: Permanent - Fixed RateLoan Proceeds: Up to 75% of purchase price (or appraised value)Interest Rate: Starting at 4.35% (actual lender quote)*Term: 5 to 15 yearsAmortization: 25 to 30 yearsLender Fees: Up to 0.50% of loan amountLiability: NonrecourseStructure: Reserves are negotiableTiming: Close within 60 days of executing purchase and sale agreement*Due to the volatility in the market place, rates are subject to vary.

DEBT FINANCING


FINANCIALS AVAILABLE UPON EXECUTION OF CONFIDENTIALITY AGREEMENT


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Fry

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Westheimer Parkway

(Not a part)(Not a part)

26

26

26

LEASING PLANTENANT EZ Floors

Window & Home

Décor9Round DLG

CosmeticsNeighborhood

GrillGentle Dental

Katy Retreat

C-R Nails Design

State Farm

La Table Coquette DBA: La Balance Cuisine

SQ. FT. 3,000 2,030 1,820 1,200 2,100 1,500 1,330 1,260 1,260 2,000


WESTPARK TOLLWAY

KATY FREEWAY

10

10

99

1463

1463

GREENBUSCH RD

WESTHEIMER PKWY

WESTHEIMER PKWY

S FR

Y RD

PEEK RD

S MASO

N RD M

ASON RD

CINCO BLVD

HIGHLA ND KNOLLS DR

FRY RD

FM 723 RD

S FRY RD

CINCO RANCH BLVDCINCO RANCH BLVD

202,000 CPD 193,000 CPD

GEORGE BUSH PARK

16,3

00 C

PD

65,000 CPD

116,000 CPD

76,000 CPD 94,000 CPD

Urgent Care

HARDWARE

PROPOSED

SITESITE

AREA DEVELOPMENT PLAN


Cinco Ranch 4,200 Homes

Seven Meadows2,300 Homes

Grand Lakes2,770 Homes

Parkway Lakes1,280 Homes

Lakemont2,500 Homes

Firethorne3,600 Homes

Grayson Lakes527 Homes

Falcon Ranch

850 Homes

Churchill Farms

550 Homes

Bella Terra1,300 Homes

Cardiff Ranch391 Homes Pine Mill

Ranch1,780 Homes

CincoRanch

CincoRanch

Westheimer Lakes2,800 Homes

Kelliwood1,550 Homes

Tamarron4,350 Homes

MemorialParkway

2,000 Homes

Cross Creek Ranch4,575 Homes

WESTPARK TOLLWAY

KATY FREEWAY

10

10

99

1463

1463

GREENBUSCH RD

WESTHEIMER PKWY

WESTHEIMER PKWY

S FR

Y RD

PEEK RD

S MASO

N RD M

ASON RD

CINCO BLVD

HIGHLA ND KNOLLS DR

FRY RD

FM 723 RD

S FRY RD

CINCO RANCH BLVDCINCO RANCH BLVD

202,000 CPD 193,000 CPD

GEORGE BUSH PARK16

,300

CPD

65,000 CPD

116,000 CPD

76,000 CPD 94,000 CPD

SITESITE

AREA RESIDENTAL MAP


CONFIDENTIALITY AGREEMENT & DISCLAIMERTranswestern1900 West Loop South, Suite 1300Houston, TX 77027713.270.7700 / Fax 713.401.1461

CONFIDENTIALITY STATEMENTCinco-Westheimer Shopping Center 20680 Westheimer PkwyKaty, TX 77450

The undersigned has been advised that Transwestern Property Company SW GP, L.L.C. dba Transwestern has been retained on an exclusive basis by the Owner with respect to the offering or sale of Cinco-Westheimer Shopping Center, 20680 Westheimer Pkwy, Katy, TX 77450 (the “Property”). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to Transwestern. All fees due Transwestern in connection with the sale of the Property shall be paid by the Owner. The undersigned hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property and agrees that it will not look to the Owner, the Owner’s Lender or Transwestern for any fees or commissions in connection with the sale of the Property. The undersigned also hereby acknowledges that is has not dealt with any broker, other than Transwestern, and Co-Broker identified on subsequent signature page, regarding the acquisition of the Property, or if it has, the undersigned hereby agrees to indemnify the Owner, the Owner’s Lenders and Transwestern against any compensation, liability or expense, arising from claims by Co-Broker, or any other broker or other party the undersigned had dealings with in connection with the sale of the Property.

The Owner has available for review certain information (“Confidential Information”) concerning the Property. On behalf of the Owner, Transwestern may make such Confidential Information available to the undersigned upon execution of this Confidentiality Statement. The Confidential Information is intended solely for your own limited use in considering whether to pursue negotiations to acquire the Property.

This is not an agreement to sell the Property, nor an offer of sale. No agreement binding upon the Owner of the Property, or any of its associated or affiliated companies, shall be deemed to exist, at law or equity, until the Owner of the Property enters into a formal binding agreement of sale.

The Confidential Information contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by Owner and Transwestern, primarily from information supplied by the Owner or Owner’s Agent. It does not purport to be all inclusive or to contain all the information which a prospective purchaser may desire. Neither Transwestern, the Owner nor the Owner’s Lender make any representation or warranty, express or implied, as to the accuracy or completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto.

By executing this Confidentiality Statement you agree that the Information provided is confidential, that you will hold and treat it in the strictest of confidence, and that you will not disclose or permit anyone else to disclose the Information to any person, firm or entity without prior written authorization of the Owner and Transwestern except that the information may be disclosed to your partners, employees, legal counsel and lenders or pursuant to a court order. Owner expressly reserves the right in its sole discretion to reject any or all proposals or expressions or interest in the property and to terminate discussions with any party at negotiations you hereby agree to return the Confidential Information to Transwestern.


On Behalf of Prospective Purchaser: Co-Broker (if any)

Company: Company:

Address: Address:

City: City:

State: ZIP: State: ZIP:

Phone: Phone:

Fax: Fax:

E-mail: E-mail:

By: By:

Its: Its:

Date: Date:

Signature: Signature:


Information About Brokerage ServicesBefore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act.

The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the br ker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you,you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Buyer, Seller, Landlord or Tenant Date

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

01A TREC No. OP-K

Approved by the Texas Real Estate Commission for Voluntary UseTexas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Transwestern | 1900 West Loop South, Suite 1300 | Houston, TX 77027 | P: 713.270.7700 | www.twhoustonretail.comThe information contained herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

Micha van Marcke, CCIMSenior Vice [email protected]

713.272.1231

Chace HenkeVice [email protected]

713.272.1274

FOR INFORMATION CONTACT:

nwq westheimer pkwy & s fry rd cinco-westheimer parkway plaza...

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