Fairmont Parkway Acreage

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1 Fairmont Parkway Acreage OFFERING MEMORANDUM

2 CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

3 TABLE OF CONTENTS Section 1 PRICING AND FINANCIAL ANALYSIS Section 2 PROPERTY DESCRIPTION Section 3 ON MARKET COMPARABLES Section 4 RECENT SALES Section 5 DEMOGRAPHIC ANALYSIS

4 PRICING AND FINANCIAL ANALYSIS Fairmont Parkway Acreage

5 PRICING AND FINANCIAL ANALYSIS FINANCIAL OVERVIEW Summary Property Property Address Fairmont Parkway Acreage West Fairmont Parkway La Porte, TX Price 350,000 Down Payment 50% / $175,000 Financing FIRST TRUST DEED Loan Amount $175,000 Loan Type All Cash Interest Rate 5.25% Amortization 20 Lot Size (SF) 105,458 Price/SF $3.32 Lot Size (Acres) Price/Acre $144,568 Buildable SF 105,458 Price/Buildable SF $3.32 Lot Dimensions x x x Type of Ownership Fee Simple Site Description Assessor's Parcel Number (5) & (6) Zoning General Commercial Taxes $2,704 Tax Year 2013 Frontage Utilities West Fairmont Parkway, Feet All Available 1

6 PROPERTY DESCRIPTION Fairmont Parkway Acreage

7 PROPERTY DESCRIPTION INVESTMENT OVERVIEW Investment Highlights 2.42 Acres at $3.32 Per Square Foot Zoned General Commercial Feet of Direct Frontage All Utilities Are Available High-Traffic; 34,710 Cars Per Day (2013) Outside of 100-Year Flood Plain Great Retail, Office, Restaurant Location Access to State Highway 146, State Highway 225 and Beltway 8 Marcus & Millichap is proud to exclusively represent the sale of 2.42 acres of commercially zoned land with direct frontage on Fairmont Parkway in La Porte, Texas (Houston M.S.A.). Fairmont Parkway is one of the area s major east/west arteries connecting Highway 146 to Beltway 8, the intermediate beltway circling the greater Houston area. Fairmont Parkway also serves to connect the major commercial and industrial developments in La Porte, and at this location, traffic counts exceed 34,710 cars per day. Just two miles east of the property, at the intersection of Fairmont Parkway and Highway 146, are clusters of major retailers such as Kroger, Jack in the Box, Denny's, KFC, Taco Bell, Amegy Bank, Waffle House, Burger King, Pizza Hut, Subway and many others. Six miles west of the property, Fairmont Parkway leads to the most significant retail cluster in Pasadena and its surrounding communities at its intersection with Beltway 8. Here, there are over a million square feet of retail developments with major anchors like Target and Super Walmart. This tract provides investors the opportunity to secure direct frontage on one of the area's most traveled thoroughfares, which will serve as an excellent location for retail, office, medical and restaurant developments in the future. 3

PROPERTY DESCRIPTION LA PORTE OVERVIEW La Porte is a city in Harris County, Texas, United States, within the Bay Area of the Houston, Sugar Land and Baytown metropolitan area.

These cities make up a major part of the Gulf Coast s heavy industrial plants, the Houston Ship Channel and the area s petrochemical refining capacity.

8 PROPERTY DESCRIPTION LA PORTE OVERVIEW La Porte is a city in Harris County, Texas, United States, within the Bay Area of the Houston, Sugar Land and Baytown metropolitan area. It is the fourth largest incorporated city in Harris County. La Porte has approximately 35,000 people and is part of the near southeast area of Houston that includes Pasadena and Deer Park. These cities make up a major part of the Gulf Coast s heavy industrial plants, the Houston Ship Channel and the area s petrochemical refining capacity. Barbours Cut in La Porte is a major shipping facility and will be the hub for increased tonnage resulting from the expansion of the Panama Canal due for completion next year. The Port of Houston is the largest in the U.S. in foreign tonnage and second in total tonnage. Additionally, the Port of Houston's newest addition, Bayport, was established just south of La Porte. Bayport Container and Cruise Terminal will substantially increase the number of containers and cruise ship passengers that pass through Houston. The Houston region has more than 45 percent of the U.S. petrochemical manufacturing capability. In the last five years La Porte has been a hot bed of large industrial distribution facilities that are special logistics transportation oriented buildings. All the industrial business gives La Porte an excellent tax base and has served an increasingly important role in international trade since the 1970's. Major employers in the area include Aker Industrial Constructors, Total Petrochemicals USA, La Porte Independent School District, International Plant Services, Rockwood Service Corporation, LP&D Digital Satellite Systems and DuPont among others. La Porte also has a major visitor economy. Four major attractions draw over 472,000 visitors annually. These attractions include the San Jacinto Monument, the Battleship Texas, Sylvan Beach Park and the Bay Forest Golf Course. 4

9 PROPERTY DESCRIPTION AREA MAPS Local Map Regional Map 5

10 PROPERTY DESCRIPTION PLAT MAP 6

11 PROPERTY DESCRIPTION AERIAL PHOTO 7

12 ON MARKET COMPARABLES Fairmont Parkway Acreage

ON MARKET COMPARABLES ON MARKET COMPARABLES MAP 1) 2) 3) 4) 5) 6) Fairmont Parkway Acreage Fairmont Parkway Land (Underwood Lane) 10000 West Fairmont

13 ON MARKET COMPARABLES ON MARKET COMPARABLES MAP 1) 2) 3) 4) 5) 6) Fairmont Parkway Acreage Fairmont Parkway Land (Underwood Lane) West Fairmont Parkway West Fairmont Parkway (West of Bay Area Boulevard) Fairmont Parkway (Luella Boulevard) Fairmont Parkway (Canada Road) 9001 Fairmont Parkway 9

14 ON MARKET COMPARABLES PRICE PER SF AND PRICE PER ACRE AVERAGE PRICE/SF Subject Fairmont Parkway Land (Underwood Lane) West Fairmont Parkway West Fairmont Parkway (West of Bay Area Boulevard) Fairmont Parkway (Luella Boulevard) Fairmont Parkway (Canada Road) 9001 Fairmont Parkway AVERAGE PRICE/ACRE 320, , , , , ,000 80,000 40,000 0 Subject West Fairmont Parkway West Fairmont Parkway (West of Bay Area Boulevard) Fairmont Parkway (Luella Boulevard) Fairmont Parkway (Canada Road) 9001 Fairmont Parkway 10

ON MARKET COMPARABLES ON MARKET COMPARABLES Fairmont Parkway Acreage West Fairmont Parkway La Porte, TX 77571 Sale Price: 350,000 Lot Size (SF): 105,458 Down Payment: $175,000 Price/SF: $3.

08 1 Fairmont Parkway Land (Underwood Lane) Fairmont Parkway La Porte, TX 77571 Close of Escrow: On Market Lot Size (SF): 26,136 List Price: $314,300 Price/SF: $12.

15 ON MARKET COMPARABLES ON MARKET COMPARABLES Fairmont Parkway Acreage West Fairmont Parkway La Porte, TX Sale Price: 350,000 Lot Size (SF): 105,458 Down Payment: $175,000 Price/SF: $3.32 Subject Property Down Payment %: 50% Lot Size (Acres): Zoning: General Commercial Price/Acre: $144,568 Lot Dimensions: x x x Fairmont Parkway Land (Underwood Lane) Fairmont Parkway La Porte, TX Close of Escrow: On Market Lot Size (SF): 26,136 List Price: $314,300 Price/SF: $12.03 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: N/A Zoning: General Commercial Lot Dimensions: 116 Ft. Frontage West Fairmont Parkway West Fairmont Parkway La Porte, TX Close of Escrow: On Market Lot Size (SF): 125,888 List Price: $788,307 Price/SF: $6.26 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $272,771 Zoning: General Commercial Lot Dimensions: N/A 11

ON MARKET COMPARABLES ON MARKET COMPARABLES 3 West Fairmont Parkway (West of Bay Area Boulevard) West Fairmont Parkway La Porte, TX 77571 Close of Escrow: On Market

3000 Down Payment %: N/A Price/Acre: $174,272 Zoning: General Commercial Lot Dimensions: 505 x 1,050 4 Fairmont Parkway (Luella Boulevard) Fairmont Parkway at

6000 Down Payment %: N/A Price/Acre: $315,374 Zoning: General Commercial Lot Dimensions: N/A 5 Fairmont Parkway (Canada Road) Fairmont Parkway (Canada Road) La

16 ON MARKET COMPARABLES ON MARKET COMPARABLES 3 West Fairmont Parkway (West of Bay Area Boulevard) West Fairmont Parkway La Porte, TX Close of Escrow: On Market Lot Size (SF): 448,668 List Price: $1,795,000 Price/SF: $4.00 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $174,272 Zoning: General Commercial Lot Dimensions: 505 x 1,050 4 Fairmont Parkway (Luella Boulevard) Fairmont Parkway at Luella Boulevard La Porte, TX Close of Escrow: On Market Lot Size (SF): 331,056 List Price: $2,396,845 Price/SF: $7.24 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $315,374 Zoning: General Commercial Lot Dimensions: N/A 5 Fairmont Parkway (Canada Road) Fairmont Parkway (Canada Road) La Porte, TX Close of Escrow: On Market Lot Size (SF): 655,012 List Price: $4,159,250 Price/SF: $6.35 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $276,546 Zoning: General Commercial Lot Dimensions: N/A 12

ON MARKET COMPARABLES ON MARKET COMPARABLES 6 9001 Fairmont Parkway 9001 Fairmont Parkway La Porte, TX 77571 Close of Escrow: On Market Lot Size (SF): 359,370 List

17 ON MARKET COMPARABLES ON MARKET COMPARABLES Fairmont Parkway 9001 Fairmont Parkway La Porte, TX Close of Escrow: On Market Lot Size (SF): 359,370 List Price: $2,500,000 Price/SF: $6.96 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $303,030 Zoning: General Commercial Lot Dimensions: 889 x

18 RECENT SALES Fairmont Parkway Acreage

19 RECENT SALES RECENT SALES MAP 1) 2) 3) Fairmont Parkway Acreage 8400 West Fairmont Parkway Spencer Highway and Fleetwood Drive Barbours Cut Road 15

20 RECENT SALES PRICE PER SF AND PRICE PER ACRE AVERAGE PRICE/SF Subject 8400 West Fairmont Parkway Spencer Highway and Fleetwood Drive Barbours Cut Road AVERAGE PRICE/ACRE 140, , ,000 80,000 60,000 40,000 20,000 0 Subject 8400 West Fairmont Parkway Spencer Highway and Fleetwood Drive 16

RECENT SALES RECENT SALES Fairmont Parkway Acreage West Fairmont Parkway La Porte, TX 77571 Sale Price: 350,000 Lot Size (SF): 105,458 Down Payment: $175,000 Price/SF: $3.

08 1 8400 West Fairmont Parkway 8400 West Fairmont Parkway La Porte, TX 77571 Close of Escrow: 6/19/2014 Lot Size (SF): 111,078 Sale Price: $333,000 Price/SF: $3.

21 RECENT SALES RECENT SALES Fairmont Parkway Acreage West Fairmont Parkway La Porte, TX Sale Price: 350,000 Lot Size (SF): 105,458 Down Payment: $175,000 Price/SF: $3.32 Down Payment %: 50% Lot Size (Acres): Subject Property Zoning: General Commercial Price/Acre: $144,568 Lot Dimensions: x x x West Fairmont Parkway 8400 West Fairmont Parkway La Porte, TX Close of Escrow: 6/19/2014 Lot Size (SF): 111,078 Sale Price: $333,000 Price/SF: $3.00 Down Payment: $249,750 Lot Size (Acres): Down Payment %: 75% Price/Acre: $130,588 Zoning: General Commercial Lot Dimensions: N/A 2 Spencer Highway and Fleetwood Drive Spencer Highway and Fleetwood Drive La Porte, TX Close of Escrow: 7/8/2014 Lot Size (SF): 51,227 Sale Price: $169,047 Price/SF: $3.30 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $143,260 Zoning: General Commercial Lot Dimensions: N/A 17

RECENT SALES RECENT SALES 3 Barbours Cut Road Barbours Cut Road La Porte, TX 77571 Close of Escrow: 4/26/2013 Lot Size (SF): 49,963 Sale Price:

22 RECENT SALES RECENT SALES 3 Barbours Cut Road Barbours Cut Road La Porte, TX Close of Escrow: 4/26/2013 Lot Size (SF): 49,963 Sale Price: $260,000 Price/SF: $5.20 Down Payment: N/A Lot Size (Acres): Down Payment %: N/A Price/Acre: $0 Zoning: General Commercial Lot Dimensions: 125 x

23 DEMOGRAPHIC ANALYSIS Fairmont Parkway Acreage

24 DEMOGRAPHIC ANALYSIS DEMOGRAPHIC REPORT 1 Mile 3 Miles 5 Miles 2000 Population 7,800 29,581 93, Population 8,882 33, , Population 9,071 35, , Population 9,567 36, , Households 2,557 9,945 31, Households 3,007 11,552 35, Households 3,073 12,082 36, Households 3,286 12,809 38, Average Household Size Daytime Population 1,882 14,262 43, Median Housing Value $82,050 $83,028 $89, Owner Occupied Housing Units 89.84% 78.52% 74.67% 2000 Renter Occupied Housing Units 7.63% 16.86% 20.87% 2000 Vacant 2.83% 4.75% 4.95% 2013 Owner Occupied Housing Units 85.43% 80.02% 78.38% 2013 Renter Occupied Housing Units 14.57% 19.98% 21.62% 2013 Vacant 0.68% 2.50% 5.26% 2018 Owner Occupied Housing Units 84.76% 79.89% 78.53% 2018 Renter Occupied Housing Units 15.24% 20.11% 21.47% 2018 Vacant 0.45% 2.18% 5.08% $ 0 - $14, % 6.0% 5.9% $ 15,000 - $24, % 6.5% 6.0% $ 25,000 - $34, % 5.3% 6.7% $ 35,000 - $49, % 12.8% 10.7% $ 50,000 - $74, % 21.5% 18.4% $ 75,000 - $99, % 19.3% 16.4% $100,000 - $124, % 14.4% 14.4% $125,000 - $149, % 6.9% 8.7% $150,000 - $199, % 5.1% 7.3% $200,000 - $249, % 1.1% 2.4% $250, % 1.2% 3.1% 2013 Median Household Income $78,561 $72,453 $78, Per Capita Income $29,926 $28,078 $33, Average Household Income $88,306 $81,733 $96,242 Demographic data 2012 by Experian. 20

25 DEMOGRAPHIC ANALYSIS SUMMARY REPORT Geography: 5 miles Population In 2013, the population in your selected geography was 104,654. The population has changed by 12.26% since It is estimated that the population in your area will be 109,514 five years from now, which represents a change of 4.64% from the current year. The current population is 49.5% male and 50.4% female. The median age of the population in your area is 36.8, compare this to the U.S. average which is 37. The population density in your area is 1, people per square mile. Households There are currently 36,749 households in your selected geography. The number of households has changed by 14.97% since It is estimated that the number of households in your area will be 38,875 five years from now, which represents a change of 5.78% from the current year. The average household size in your area is 2.85 persons. Income In 2013, the median household income for your selected geography is $78,373, compare this to the U.S. average which is currently $53,535. The median household income for your area has changed by 28.50% since It is estimated that the median household income in your area will be $83,387 five years from now, which represents a change of 6.39% from the current year. The current year per capita income in your area is $33,848, compare this to the U.S. average, which is $28,888. The current year average household income in your area is $96,242, compare this to the U.S. average which is $75,373. Race & Ethnicity The current year racial makeup of your selected area is as follows: 81.68% White, 3.43% African American, 0.63% Native American and 4.05% Asian/Pacific Islander. Compare these to U.S. averages which are: 72.20% White, 12.65% African American, 0.96% Native American and 5.01% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 27.12% of the current year population in your selected area. Compare this to the U.S. average of 16.55%. Housing The median housing value in your area was $89,661 in 2000, compare this to the U.S. average of $110,781 for the same year. In 2000, there were 25,093 owner occupied housing units in your area and there were 7,012 renter occupied housing units in your area. The median rent at the time was $554. Employment In 2013, there are 43,214 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 60.8% of employees are employed in white-collar occupations in this geography, and 39.1% are employed in blue-collar occupations. In 2013, unemployment in this area is 3.12%. In 2000, the median time traveled to work was 21.2 minutes. Demographic data 2012 by Experian. 21

26 DEMOGRAPHIC ANALYSIS POPULATION DENSITY Demographic data 2012 by Experian. Number of people living in a given area per square mile. 22

27 DEMOGRAPHIC ANALYSIS EMPLOYMENT DENSITY Demographic data 2012 by Experian. The number of people employed in a given area per square mile. 23

28 DEMOGRAPHIC ANALYSIS AVERAGE HOUSEHOLD INCOME Demographic data 2012 by Experian. Average income of all the people 15 years and older occupying a single housing unit. 24

DEMOGRAPHIC ANALYSIS TRAFFIC COUNTS Traffic Count data 2012 by TrafficMetrix.

30 CLOSING PAGE DISCLAIMER Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. Information About Brokerage 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 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 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. 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 complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas or

31 OFFERING MEMORANDUM Exclusively Listed By: Gus Lagos Senior Associate Houston Office License: TX: Tel: (713) Fax: (713) Nik Kapetanakis Associate Houston Office License: TX: Tel: (713) Fax: (713) Offices Throughout the U.S. and Canada

1946 Reed Avenue - Pacific Beach

1946 Reed Avenue - Pacific Beach OFFERING MEMORANDUM CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended