$4,900,000.00 7.0% Cap Rate Copper Lakes Shopping - Offering Memorandum SWC OF WEST RD. AND QUEENSTON BLVD. HOUSTON, TEXAS Established Neighborhood 91% Leased Only Retail at the Intersection Presented by Austen Baldridge and Brad Elmore 281.477.4300 www.newquest.com
TEXAS TOLLWAY ROAD FARM TOLLWAY Investment Overview NewQuest Properties is pleased to exclusively offer for sale a stabilized mixed-use neighborhood center totaling 23,080 square feet (SF) in Houston, Texas. Copper Lakes Shopping (the Property ) consists of a 16,080 SF fully-leased retail strip center and a 7,000 SF office building located at the intersection of West Road and Queenston Investment Highlights Price: $4,900,000 In-Place NOI: $343,325 Cap Rate: 7.0% Address: 17111 West Rd. Houston, TX 77095 Year Built: 2007 Building Size: 23,080 SF Lot Size: 2.68 acres Tenants: Fitness 19 EZ Floors ZL Dental Snowflake Donut State Farm Hollywood Fashion Nails Established neighborhood center in thriving Cy-Fair market Very little competition within a 1-mile radius Below market rents Close proximity to US 290 and Hwy 6/FM 1960 Property Overview Boulevard in the Cypress-Fairbanks (Cy-Fair) market of Northwest Houston. The property The Woodlands benefits from the dense high-income demographics of surrounding neighborhoods, all 249 TEXAS 45 99 TOLL zoned to the highly acclaimed Cy-Fair ISD, as well as several schools and churches in Spring 59 close proximity. The only shopping center at an intersection that sees over 40,000 cars 290 Cypress 1960 per day, Copper Lakes Shopping has and will continue to capitalize on very little competition for retail space in the immediate vicinity. 99 TOLL SITE HCTRA HCTRA Austen Baldridge 281.477.4363 abaldridge@newquest.com Brad Elmore 281.477.4362 belmore@newquest.com 10 Katy 6 610 Houston 610 2
Copperfield Westcreek Village ±941 Homes Copper Lakes ±1,196 Homes Property Overview Site Aerial SITE QUEENSTON BLVD 24,116 VPD Birkes Elementary School ±1,147 Students Aragon Middle School ±1,630 Students WEST ROAD 16,796 VPD West Houston Church of Christ St. Cuthbert Episcopal Church 3
Cy-Fair ISD Berry BARKER CYPRESS Lone Star College Cy-Fair Campus ±90,000 Students Canyon Lakes at Stonegate ±2,100 Homes Property Overview Site Aerial Copper Lakes ±1,196 Homes SITE WEST ROAD 16,796 VPD West Houston Church of Christ QUEENSTON BLVD 24,116 VPD St. Cuthbert Episcopal Church Birkes Elementary School ±1,147 Students Aragon Middle School ±1,630 Students 4
AVAILABLE Property Overview Site Plan SNOWFLAKE DONUTS DRY CLEANERS EZ Floors NAILS 5
Westgreen Transportation Food Service Cold Storage Cy-Fair Annex Telge Ag-Science Science Resource CFPD/Security Carpenter and ALC East Windfern Annex/ Print Campbell Rd. Cypress-Fairbanks Cypress-Fairbanks (Cy-Fair) is one of the largest suburban and business communities in the Houston MSA, located 20 miles northwest of Downtown. Encompassing 186 square miles, and approximately 800,000 people, Cy-Fair has long been one of Houston s fastest growing and most prosperous suburban markets. The area is served by several major highways, including US 290, SH 249, Beltway 8 and the Grand Parkway, and is home to several top performing Master Planned Communities such as Bridgeland, Towne Lake, Fairfield and Copperfield. Swenke Salyards Keith Ault Black Cypress-Fairbanks Overview Goodson Hamilton Farney Hamilton Moore Hancock Yeager Carlton Pope A. Robison Spillane Cy Woods Sampson Bleyl Cy Creek Millsap Matzke Bridgeland Wells Woodard Cy Ranch Anthony Warner Smith Rennell Cy-Fair Lamkin Arnold ELC Telge Exhibit Telge Transportation Adam Danish Campbell Windfern ELC 1 Pridgeon & Natatorium Falcon Annex Food Production Maintenance Falcon Transportation Francone Postma Berry and Cy-Fair FCU Stadium Birkes Aragon Cy Falls Emmott Tax Office ISC Willbern Gleason Cy-Fair Community Health Cy Park Westgreen Ag-Science Andre 9 Cy Springs Hopper Duryea ALC West Hoover Copeland Barker Transportation ELC Barker Holmsley Fiest Labay Lowery Langham Creek Owens Truitt ELC 2 Cy Ridge ELC Eldridge Hairgrove Eldridge Ag-Science Eldridge Transportation Cook Bang Jersey Village Post Reed Little River Rd. Frazier Walker Jowell Kahla Horne Lee Hemmenway McFee Cy Lakes Emery Metcalf Dean Bane Holbrook Tipps Thornton Sheridan Lieder Kirk Wilson Watkins M. Robinson 6
HOUSTON QUICK FACTS Downtown Houston POPULATION City of Houston: 2.3 million residents Houston MSA: 6.8 million residents (9 counties) The Houston MSA is larger than Missouri or Maryland US COMPARISON 4th most populous city 5th most populous metro area 6th largest U.S. metro economy ECONOMY 492.7 billion nominal gross area product for the Houston MSA If it were ranked as a country, Houston would rank as the world s 23rd largest economy, just behind Taiwan The Houston GDP is expected to more than double between 2015 and 2040 INCOME Per capital personal income (PCPI) of $54,346 (13% above national average) EMPLOYMENT (NON-FARM) Total employment for the Houston MSA was 3,000,000 jobs, more than 35 states Houston employs more than 25% of the nation s oil and extraction jobs Houston is home to 87,500 engineers and architects, more than any other US metro area Galleria / Uptown Houston Overview HOUSING Single family home closings were 91,485 in 2016 (an average of one closing every six minutes) COST OF LIVING Houston s cost of living is 5.8% below the national average Houston s housing costs are 11.6% below average, and 37.3% below average for large metro areas 7
CORPORATE ECONOMY Ranked 4th in the nation among US metro areas for the number of Forbes Fortune 500 company headquarters Home to 20 of the Fortune 500, 7 of the Fortune Global 500, and 24 of Forbes Global 2000 companies THE TEXAS MEDICAL CENTER World s largest medical complex, home to many of the world s leading institutions Encompasses 50 million SF, employs 106,000 people, and over 10 million annual patient visits THE PORT OF HOUSTON & HOUSTON SHIP CHANNEL Nationally ranked 1st in import tonnage for 25 years straight and 2nd in total tonnage for 23 straight years The largest Gulf Coast container port Contributes to over 1,026,820 jobs throughout Texas Home to the largest petrochemical complex in the U.S. (second largest in the world) Texas Medical Largest Houston Area Area Employers Employers - 2013 Company Employees Memorial Hermann Health System 19,500 The University of Texas MD Anderson 19,290 United Airlines 17,000 Exxon Mobil Corporation 13,191 Shell Oil Company 13,000 Houston Methodist 13,000 Kroger Company 12,000 National Oilwell Varco 10,000 Schlumberger Limited 10,000 BP America, Inc. 9,537 UTMB Health 9,318 Baylor College of Medicine 9,232 Chevron 9,000 HP 9,000 ARAMARK Corp. 8,500 Pappas Restaurants, Inc. 8,000 HCA 7,855 Macy s 7,000 AT&T 6,900 The Dow Chemical Company, Freeport 6,100 Baker Hughes Incorporated 6,000 H.E.B. 6,000 St. Luke s Episcopal Health System 6,000 Texas Children s Hospital 6,000 Jacobs 5,800 Halliburton 5,748 Fiesta Mart, Inc. 5,500 Archdiocese of Galveston-Houston 5,220 KBR 5,089 LyondellBasell Industries 5,080 Point Energy 5,000 JPMorgan Chase 5,000 Houston Overview Note: Ranked by number of employees. The list does not include casual dining establishments, municipalities, school districts, community colleges, public universities (except UTMB Health and The University of Texas MD Anderson) and governmental agencies. Source: Greater Houston Partnership Database, July 2013 8
Disclaimer Prospective purchasers are hereby advised the Owners ( Owner ) of the Property are soliciting offers through NewQuest Properties ( NewQuest ), which may be accepted or rejected by the Owners at the Owners sole discretion. Any solicitation of an offer for the Property offered hereunder will be governed by this Offering, as it may be modified or supplemented. Prospective purchasers are advised that as part of the offer process, the Owners will be evaluating several factors including the experience and financial qualifications of the purchasing entity. The Owners shall have no obligation to accept any offer from any prospective purchaser. The Owners reserve the right to withdraw the Property from consideration at any time prior to final execution of a Purchase Agreement. This Offering document is furnished to prospective purchasers for the purpose of determining whether to invest in the Property offered hereby. The information contained herein, or any other related information provided by the Owners, may not be reproduced, redistributed or used in whole or in part without the prior written consent of the Owners. No person has been authorized to give any information or make any representation or warranty, either expressed or implied and, if given or made, such information or representation must not be relied upon. While the Owners and NewQuest have no reason to believe that the information provided herein or in subsequent information updates delivered to potential purchasers hereunder contains any material inaccuracies, neither the Owners nor NewQuest nor any of the Owners or NewQuest s respective subsidiaries, affiliates, companies, or the officers, directors, employees, agents and representatives of any such entities, etc., make any representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Properties or any other matters set forth herein. Any obligations to prospective purchasers that the Owners may have with respect to the Properties are limited to those expressly set forth in a fully executed Purchase Agreement between the parties. Prospective purchaser s sole and exclusive rights against the Owners, with respect to this prospective transaction, the Property, or information provided herein or subsequently, shall be limited to those remedies expressly provided in an executed Purchase Agreement, which shall not survive the closing. Further, in no event shall prospective purchasers have any claims against the Owners, NewQuest, or any of their respective affiliates for any damages, liability, or causes of action relating to the Purchase Agreement. Prospective purchasers are not to construe the contents of this Offering or any prior or subsequent information communications from the Owners or any of their respective officers, employees or agents as legal, tax or other advice. Prior to purchasing, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the consequences of an investment in the Property and arrive at an independent evaluation of such investment. Disclaimer No commission or finder s fee shall be payable to any party by the Owners nor any affiliate or agent thereof in connection with the sale of the Property unless otherwise agreed to by the Owners in writing. Acquisition of properties such as the these offered hereunder involves a high degree of risk and are suitable only for persons and entities of substantial financial means. 9
Please Submit Offers to Austen Baldridge 281.477.4363 abaldridge@newquest.com Brad Elmore 281.477.4362 belmore@newquest.com 8827 W. Sam Houston Parkway, N. Suite 200 Houston, Texas 77040 www.newquest.com 08.28.2018