±50 Acres in League City (Houston MSA), TX Executive Summary

Transcription

1 ±50 Acres in League City (Houston MSA), TX Executive Summary N Houston Bayport Industrial Te r m i n a l Clear Lake Kemah Boardwalk Galveston Bay y rkwa a P y e Cit u g a Le Nature Preser ve w High g Villa ±33 Acres 6 ay 9 ±17 Acres y e Wa Clear Creek ISD Education Village MarBella P kwy MarBella Isla Vista Circl e

2 Executive Summary HFF has been retained on an exclusive basis to offer qualified investors an exceptional opportunity to acquire ±50 Acres ( the Property ) located near the intersection of Highway 96 (League City Parkway) and Highway 146 in one of the fastest growing corridors in Houston. Located at the entrances of the growing, upscale HARRIS masterplanned community MarBella, the Property consists of two separate parcels: COUNTY ±33 acres and ±17 acres with in place offsite detention. Due to its excellent location, quick access, and proximity to residential and educational uses, the Property is an ideal development opportunity for a variety of retail shopping centers. INVESTMENT HIGHLIGHTS The Property is in a high growth corridor. Approximately two miles south of Clear Lake. Located at the entrance of MarBella, one of the newest, upscale neighborhoods in the area. Located at the first planned lighted intersection heading west from Highway 146. Excellent transportation infrastructure due to its location on League City Energy Corridor Parkway (Highway 96) and near Highway 146. George Bush Within a 10 minute drive from Interstate Park 45, one of the busiest thoroughfares in the state of Texas. Located adjacent to the newly constructed 144 acre Clear Creek ISD Education Village with over 4,500 students in Grades K-12. The Property is located within League City, the largest city in Galveston County. Strong demographics FORT BEND in one of Houston s most sought after 69 suburbs. COUNTY Houston is one of the strongest economies in the nation with thriving energy, financial, manufacturing, medical, and shipping industries. Katy Frwy Westheimer Rd Westpark Tollway Grand Pkwy Under Construction DEVELOPMENT OVERVIEW ±17 Acres: Possessing ±1,460 feet of frontage along Highway 96 (League City Parkway), ±890 feet along MarBella Parkway, and ±1,020 feet along Village Way. Offsite detention in place. Smithers ±33 Acres: Possessing ±1,580 feet of frontage Lake along Highway 96 (League City Parkway), and frontage along both sides of the newly constructed Isla Vista Circle which is the entrance to the under construction phases of MarBella. Additionally, the ±33 acres are bordered on the west side by the Dick Benoit League City Prairie Preserve, a ±44 acre parkland preserve. Offsite detention in place. Proposed Grand Pkwy Southwest Frwy ExxonMobil Corporate Headquarters Northwest Frwy Fort Bend Pkwy The Woodlands West Loop MONTGOMERY COUNTY Lake Houston State Park DAILY TRAFFIC COUNTS Interstate 45 at Highway ,000 Highway 96 11,893 Highway ,683 George Bush Intercontinental Airport TAX INFORMATION GGA (Galveston County) Lake Houston S16 (Clear Creek ISD) RFL (Co Road & Flood) C40 (League City) Sheldon Reservoir M46 (Galveston County MUD No. 46) 1.0 Total Tax Rate North Frwy 69 Texas Medical Center Downtown South South Frwy Sam Houston Pkwy Hardy Toll Road North Loop BRAZORIA COUNTY Grand Pkwy Under Construction Loop East Loop William P. Hobby Airport Sam Houston Tollway Eastex Frwy 69 Beaumont Hwy Pasadena Frwy Gulf Frwy GALVESTON COUNTY LIBERTY COUNTY Proposed Armand Bayou Park Clear Lake San Jacinto Bay Grand Pkwy Baytown East Frwy Galveston Bay Subject Property ±50 Acres in League City (Houston MSA), TX 1

3 N Aerial Photograph Houston Hidden Lakes Whispering Pines Ranch Clear Creek ISD Education Village ±17 Acres MarBella ±33 Acres League Cit y Nature Preser ve Pkwy / H wy 9 6 ±50 Acres in League City (Houston MSA), TX 2

4 Aerial Photograph N Galveston Bay High ±33 Acres Isla Vista Circle way Nature Preser ve 96 Leag ±17 Acres M ar Bella Parkway MarBella Vil lag ay e W k w y. ity P ue C Clear Creek ISD Education Village Lawrence Roa d ±50 Acres in League City (Houston MSA), TX 3

5 Master Site Plan ±33 Acre Conceptual Layout MarBella Master Plan ±17 Acre Conceptual Layout ±50 Acres in League City (Houston MSA), TX 4

6 Area Overview HIGHWAY 146 Highway 146 is heavily traveled and many nearby residents use it combined with Highway 225 to commute into Houston. TxDOT is moving forward with plans to widen and reconstruct Highway 146 in the Seabrook, Kemah, and League City areas. The current plans are to widen the existing facilities to a 6 to 12 lane freeway spanning from Red Bluff Road in Seabrook to Highway 518 near League City, just north of the Property. Construction will include expanded roadways, grade separations at major intersections, access roads in selected locations, and a new expressway bridge crossing Clear Lake west and parallel to the existing Seabrook- Kemah Bridge. The new elevated expressway lanes that begin north of Kemah are planned to come back to grade just north of Highway 96. This will make Highway 96 the first roadway to head west from Highway 146, funneling traffic directly in front of the Property. MARBELLA MASTER-PLANNED COMMUNITY The Property is located at the two entrances to the MarBella master-planned community. MarBella is a development by nationally renowned home builder Taylor Morrison. Spread out on 531 acres, the community will feature more than 1,300 homes interspersed with lakes and trails. This upscale development offers homes in the $200,000 to $700,000 range. The community benefits from its location to transportation infrastructure and placement within the Clear Creek Independent School District (ISD). MarBella is also surrounded by two successful master-planned communities Whispering Lakes Ranch and South Shore Harbour, and the newly constructed Clear Creek Education Village. CLEAR CREEK ISD EDUCATION VILLAGE Completed in , the Clear Creek ISD Education Village is the first of its kind in the state of Texas. Located a quarter of a mile west of the Property, the Education Village is a 144 acre campus that features an elementary, intermediate, and high school. These schools will contain more than 4,500 students ranging from Kindergarten to the 12th grade. The Education Village consists of the 105,000 SF Mossman Elementary School, 176,550 SF Bayside Intermediate, 460,000 SF Clear Falls High School, and state-of-the-art labs, kitchen preparation area, and mechanical plant. These newly opened schools were built to alleviate congestion in the existing Clear Creek ISD schools. Clear Creek ISD is regarded as one of the best school districts in the Houston area. The district has consistently received the top rating of Exemplary by the Texas Education Agency. DICK BENOIT LEAGUE CITY PRAIRIE PRESERVE Situated in between the Property, the Dick Benoit League City Prairie Preserve consists of ±44 acres. The acreage is set aside for parkland that will be built by the League City Parks Department as a wetlands preserve interlaced with nature trails. The Preserve will serve residents of MarBella with a natural amenity and help connect them to the Property. ±50 Acres in League City (Houston MSA), TX 5

7 Location Highlights AREA ATTRACTIONS The Property is in a prime location with excellent transportation infrastructure due its location on League City Parkway (Highway 96) near Highway 146 and within a 10 minute drive from Interstate 45. Unprecedented growth of the Houston economy has fueled the attraction of home ownership, which in turn has increased the popularity of residences in League City and the Bay Area. The area is growing and this is evident at the intersection of Interstate 45 and League City Parkway (Highway 96), which has a 2011 average daily traffic count of 118,000. One mile south of the popular Kemah Boardwalk, an entertainment and retail destination for Houstonians and visitors alike. Only 24 minutes to Galveston Island, a vacation hotspot for tourists from all over, featuring the historic Strand, Moody Gardens Convention Center, and miles of public beaches. Located approximately two miles south of Clear Lake, which is a haven for boaters of all types who enjoy watersports from fishing to yachting. EMPLOYMENT Close proximity to both NASA s Johnson Space Center and Bayport Industrial District and Cruise Terminal, two of Houston s largest employment centers with a large number of well-educated and highly skilled professionals. NASA s Johnson Space Center employs a large number of employees directly and supports even more indirectly. It also has an annual area impact of approximately $3.5 billion. Bayport is a $1.2 billion project, which is expected to generate 32,000 jobs and have an annual economic impact of over $1 billion when fully complete. Near the Clear Lake Regional Medical Center, home to 2,200 renowned physicians, and serves more than 1.5 million patients annually. Also located nearby is the recently finished UTMB Specialty Care Center, a 35 acre outpatient specialty care and ambulatory surgical center with 110,000 square feet and a clinical staff of nearly 100 practitioners. There is already development underway for the expansion of this facility. Additionally, many residents in League City commute into downtown Houston and the Texas Medical Center. ±50 Acres in League City (Houston MSA), TX 6

8 Location Highlights TOURISM & RECREATION Each year, three million tourists from all 50 U.S. states and many foreign countries visit Bay Area Houston. Many visitors are lured to Space Center Houston (The Johnson Space Center), and the eco-sensitive Armand Bayou, a 2,500 acre nature preserve containing 370 wildlife species native to the Texas coastal plain. Bay Area Houston is also an important boating and recreational destination on the Texas Gulf Coast. Clear Lake is a 2,000 acre natural inlet body of water, affording safe harbor for all types of pleasure craft. Twenty-four marinas offer more boat slips than any other recreational marine area on the Texas Gulf Coast. The Kemah Boardwalk is also located nearby and features 43 acres of restaurants, shops, and an upscale marina. In addition, Kemah also has a selection of theme park rides which is a major selling point in the area because it is the closest recreational and entertainment park to the Houston area. Attractions include a 36-foot carousel, a 65-foot Ferris wheel, and a wooden roller coaster. DEMOGRAPHICS The local population within a one-mile radius of the Property grew approximately 12.46% from 2010 to The population within a five-mile radius of the Property is 108,408. The total number of households within a three-mile radius of the Property grew approximately 8.98% from 2010 to The average household income within a three-mile radius of the Property is approximately $91,091. DESCRIPTION 1-MILE RADIUS 3-MILE RADIUS 5-MILE RADIUS POPULATION 2019 Projection 5,396 50, , Estimate 4,794 45, , Census 4,314 41,631 99, Census 2,861 29,905 77,238 Growth % 10.79% 10.23% Growth % 9.32% 8.81% Growth % 39.21% 28.99% 2014 Est. Median Age Est. Average Age HOUSEHOLDS 2019 Projection 1,899 18,402 46, Estimate 1,688 16,664 42, Census 1,522 15,291 38, Census ,718 30,068 Growth % 10.43% 10.36% Growth % 8.98% 9.27% Growth % 42.67% 27.90% INCOME 2014 Est. Average Household Income $86,328 $91,091 $88, Est. Median Household Income $71,978 $73,019 $67,386 HOUSING VALUE 2014 Est. Median Housing Value $169,573 $183,627 $179,652 Housing Units Built 2005 or Later 1,776 18,102 46,316 ±50 Acres in League City (Houston MSA), TX 7

9 Information on Broker Services Before 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 subagent 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 broker 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. TEXAS LAW REQUIRES THAT ALL REAL ESTATE LICENSEE S PRESENT THIS INFORMATION TO PROSPECTIVE SELLERS, LANDLORDS, BUYERS OR TENANTS. ACKNOWLEDGMENT: Please acknowledge your receipt of this information, for Broker s records: [PROPERTY NAME] - [PROPERTY CITY, STATE] OWNER (LANDLORD) OR BUYER (TENANT) OR AUTHORIZED REPRESENTATIVE Date: ±50 Acres in League City (Houston MSA), TX 8

10 Contact Information INVESTMENT SALES DAVIS ADAMS Managing Director (713) MARK BRAMLETT Real Estate Analyst (713) Greenway Plaza, Suite 700 Houston, Texas Phone: (713) Fax: (713) hfflp.com 2014 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter at twitter.com/hff. HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.