ALABAMA ROW NEC WEST ALABAMA STREET & MANDELL STREET HOUSTON, TEXAS NEW MONTROSE SHOPPING CENTER FOR LEASE EDGE REALTY PARTNERS 5444 Westheimer Road, Suite 1650 Houston, Texas 77056 T 713.900.3000 edge-re.com JOSH JACOBS Principal jjacobs@edge-re.com 713.900.3001 LAUREN HEIMANN Senior Associate lheimann@edge-re.com 713.900.3026
PROPERTY INFORMATION CYPRESS 249 HUMBLE GEORGE BUSH INTERCONTINENTAL AIRPORT LOCATION NEC W ALABAMA & MANDELL HOUSTON, TEXAS 77006 69 8 SIZE 2,500 SF (Non-restaurant space) 8 TOLL HOUSTON PARKING 47 SPACES (6.2/1000 sf) plus bicycle racks 6 610 ALABAMA ROW BAYTOWN RATE $50.00 PSF SUGAR LAND 8 TOLL WILLIAM P. HOBBY AIRPORT 225 PASADENA NNN RATE $10.00 PSF TRAFFIC COUNTS West Alabama Street Mandell Street 21,000 CPD 5,000 CPD PROPERTY INFORMATION AREA RETAILERS + + New construction featuring modern architecture, 16' ceilings & 14' glass storefronts, outdoor patio HEB + KROGER + COMMON BOND + + At a signalized intersection one block east of new HEB, located in the vibrant Montrose area + + Straegically located minutes from downtown Houston, The Museum District, the Texas Medical Center and Greenway Plaza + + Alabama Row sits amidst some of Houston's most affluent residential neighborhoods such as River Oaks, Montrose, Midtown, Southampton, and the Museum District + + Upper Kirby and Montrose are home to some of the best preforming restaurants and retailers in the city + + Construction underway, 2Q 2017 delivery Alabama Row / 2
ALABAMA ROW - MONTROSE TRADE AREA TRADE AREA & ACCESSABILITY ALABAMA ROW is a new urban infill retail development located at the northern end of Houston s world-renowned Museum District within the densely populated and eclectic Houston sub-division of Montrose. Sitting in the center of it all between downtown s gleaming towers and River Oaks tree-lined streets, it is one of the city s first grand neighborhoods. Montrose is composed of elegantly restored mansions, contemporary condos, and Craftsman bungalows. The neighborhood boats walkable streets, nationally acclaimed bars and restaurants and buzzed-about boutiques. Montrose is a major cultural hub and one of Houston s most popular and celebrated neighborhoods, often referred to as the Heart of Houston. ALABAMA ROW is part of the dramatic transformation currently taking place in this popular neighborhood. Dilapidated homes and antiquated single-story apartment buildings are vanishing, being replaced by modern homes, contemporary luxury mid-rise apartments and art galleries. ALABAMA ROW will be the first new multi-tenant retail development to be built in this area in over a decade. Located on the northeast hard corner where West Alabama St and Mandell St intersect, Alabama Row is easily and conveniently accessible to people working and living in Downtown, Midtown, Montrose, the Museum District, Upper Kirby and River Oaks which make up the project s trade area. West Alabama St is a major east-west arterial connecting Downtown Houston to the Galleria/Uptown District. Mandell St is a significant north-south residential collector that connects Montrose to the rest of the Museum District south of Highway 59, and the affluent neighborhoods of Southampton and Braes Oaks which are an important segment of Alabama Row s trade area. Access into the project will be off West Alabama and Mandell Street. West Alabama street is bidirectional with a middle turning lane that makes turning easy to avoid congestion. The middle lane also serves as a contraflow lane during peak rush hours. The middle turning lane will allow patrons easy ingress into the project from all directions. Furthermore, the signalized intersection will create a break in traffic allowing patrons to turn in either direction as they exit the project. West Alabama carries over 20,000 cars per day and Mandell St carries over 7,000 cars per day. Alabama Row / 3
AERIAL Alabama Row / 4
AERIAL Alabama Row / 5
AERIAL E D G E R E A LT Y PA R T N E R S Alabama Row / 6
AERIAL E D G E R E A LT Y PA R T N E R S Alabama Row / 7
SITE PLAN Alabama Row / 8
ELEVATION Alabama Row / 9
2016 DEMOGRAPHICS 1 MI RADIUS 2 MI RADIUS 3 MI RADIUS 5 MI RADIUS POPULATION TOTAL POPULATION 29,435 97,692 183,033 465,759 TOTAL DAYTIME POPULATION 24,883 139,477 530,145 854,892 PROJECTED ANNUAL GROWTH 2010 TO 2021 14.0% 23.5% 23.1% 20.1% 2021 ESTIMATED POPULATION 33,054 109,402 205,173 522,083 % FEMALE POPLULATION 45.6% 47.0% 47.6% 48.3% % MALE POPULATION 54.4% 53.0% 52.4% 51.7% MEDIAN AGE 36.9 36.2 36.1 35.3 BUSINESS TOTAL EMPLOYEES 19,153 118,465 485,993 721,591 TOTAL BUSINESSES 2,567 9,921 24,065 42,534 COMPANY HEADQUARTER BUSINESSES 7 116 432 764 HOUSEHOLD INCOME ESTIMATED MEDIAN HOUSEHOLD INCOME $82,135 $98,762 $103,124 $88,011 ESTIMATED AVERAGE HOUSEHOLD INCOME $117,300 $136,217 $141,375 $119,819 ESTIMATED PER CAPITA INCOME $70,340 $77,368 $75,624 $56,441 HOUSEHOLD TOTAL HOUSING UNITS 17,624 55,249 97,355 217,194 % HOUSING UNITS OWNER-OCCUPIED 36.9% 36.4% 40.0% 41.8% % HOUSING UNITS RENTER-OCCUPIED 63.1% 63.6% 60.0% 58.2% RACE & ETHNICITY % WHITE 78.1% 72.4% 66.4% 58.9% % BLACK OR AFRICAN AMERICAN 4.9% 10.9% 16.3% 20.4% % AMERICAN INDIAN OR ALASKA NATIVE 0.4% 0.3% 0.3% 0.4% % ASIAN 7.3% 9.1% 9.6% 9.0% % HAWAIIAN OR PACIFIC ISLANDER 0.1% - - - % HISPANIC POPULATION 20.4% 17.2% 17.1% 27.1% % NOT HISPANIC POPULATION 79.6% 82.8% 82.9% 72.9% Alabama Row / 10
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 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. EDGE Realty Partners LLC 9000663 info@edge-re.com 713.900.3000 BROKER FIRM NAME LICENSE NO. EMAIL PHONE 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. Last Updated on September 15, 2016.