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Houston Retail August 2016

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MARKET WATCH HOUSTON RETAIL AUGUST 2016 RECENT RETAIL LEASES RETAIL LEASE STATISTICS Baytown/Chambers :: Marshalls 23,000 SF new lease at Baytown Marketplace Overall Vacancy Rates Asking Rental Rates (NNN) Pasadena/Galena Park :: Boot Barn 11.0% $18.25 13,249 SF new lease at Federal East Plaza 10.0% $18.00 Pearland/Manvel :: Village Family Practice 8,763 SF new lease at Silverlake Plaza Shopping Center 9.0% $17.75 RECENT RETAIL SALES 8.0% $17.50 Copperfield :: West Junction Center 64,340 SF 7.0% $17.25 Buyer: Transnational Investments Seller: KBP Group III 6.0% $17.00 5.0% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 $16.75 RETAIL IN THE NEWS 13 13 13 14 14 14 14 15 15 15 15 16 16 Paris gelato shop arrives in River Oaks District Source: CoStar - Houston retail buildings 5,000 SF and greater with French flair and rose-shaped cones link to story CultureMap Houston, August 23, 2016 Retail Sales Statistics HOUSTON MSA UNITED STATES SoulCycle’s second Houston studio sets opening QUARTER TO LAST QUARTER TRAILING 12 LAST QUARTER TRAILING 12 date DATE (Q2 2016) MONTHS (Q2 2016) MONTHS link to story Volume ($ $78.1 $357.1 $1,401.3 $17,774.7 $80,587.8 Houston Business Journal, August 19, 2016 Mil) No. of 14 30 149 1,404 6,856 Fast-growing pizza chain continues Houston Properties expansion Total SF 469,938 1,586,161 8,750,872 79,754,256 410,607,933 link to story Average N/A $185 $201 $232 $210 Houston Business Journal, August 16, 2016 Price/SF Average Cap N/A 7.8% 6.7% 6.4% 6.5% Rate (Yield) Source: Real Capital Analytics Retail Market Indicators DIRECT DIRECT VACANCY OVERALL VACANCY SF UNDER Q2 2016 NET SUBMARKET TOTAL RBA (SF) VACANT (SF) RATE RATE CONSTRUCTION ABSORPTION East (Chambers County/Baytown, Channelview & Pasadena/Galena Park) 13,356,618 958,872 7.2% 7.2% 142,807 35,980 Inner Loop (CBD, Galleria, Uptown, University, River Oaks, Heights & East End) 31,773,787 976,482 3.1% 3.1% 83,098 71,325 North (Near North, FM 1960/I-45, Greenspoint/North Belt, Spring Creek, Far North & 58,589,294 3,129,435 5.3% 5.4% 720,523 416,012 Montgomery County) Northeast (Near Northeast, Lake Houston, Kingwood & Liberty County) 13,150,889 465,262 3.5% 3.5% 545,995 246,771 Northwest (Addicks, Bridgelands, Cypresswood, Fairfield, Far Katy North, Far Northwest, 57,908,713 2,893,899 5.0% 5.0% 957,880 461,833 Far Tomball, Jersey Village, Near Northwest Oaks, Near NW Spring Valley, Willowbrook) South (Far South & Near South) 14,075,127 683,042 4.9% 5.0% 18,346 172,631 Southeast (NASA/Clear Lake, Near Southeast, Southeast Outlier ) 51,983,112 3,351,499 6.4% 6.5% 602,462 226,482 Southwest (Near SW Central, Stafford, Sugar Land, Far New Territory, Far West, Far 43,136,389 2,505,257 5.8% 5.9% 482,115 142,107 Southwest ) West (Near West, Westchase, Far West, Far Katy South) 39,802,643 1,902,389 4.8% 5.0% 114,437 132,490 Total - Houston 323,776,572 16,866,137 5.6% 5.6% 3,667,663 1,905,631 Source: Costar - Houston retail buildings 5,000 SF and greater HOUSTON RETAIL MARKET WATCH AUGUST 2016 Houston | RETAIL SUBMARKETS 5 6 10 4 1 3 6 5 9 45 610 2 45 4 3 10 249 6 Inner Loop 2 3 290 3 7 90 4 2 4 1 1 3 5 1 8 2 2 10 10 See 3 4 1 2 Inner Loop 1 1 Map 6 99 1 2 8 4 2 2 59 288 45 35 1 3 3 INNER LOOP NORTH NORTHWEST NORTHEAST SOUTHEAST 1. CBD 1. Near North 1. Northwest Oaks 1. Near Northeast 1. Gulf Freeway/Pasadena 2. Bellaire/West University 2. FM 1960 & I-45 2. Spring Branch 2. Atascocita 2. Baybrook/Clear Lake 3. Galleria/Uptown 3. Greens Point/North Belt 3. Willowbrook 3. Kingwood 3. Old Pearland/Alvin 4. Inner Loop/River Oaks 4. Spring Creek 4. Jersey Village 4. Liberty County 5. Heights 5. Far North 5. Copperfield SOUTH 6. East End 6. The Woodlands/Montgomery 1 CBD 1 Near North 6. Fairfield 1 Northwest Oaks 1. Pearland / Manvel1 Near Northeast 1 Pasadena / Galena Park WEST SOUTHWEST 7. Cypress/Bridgelands 2. Near South 2 Bellaire / West University 2 FM 1960 & I-45 2 Spring Branch 2 Atascocita 2 Channelview / Beaumont 1. Memorial 1. Sharpstown/Southwest Central 8. Far Katy North EAST EAST 3 Galleria/Uptown 3 Greens Point - North Belt 3 Willowbrook 3 Kingwood 3 Baytown / Chambers 2. Westchase 2. West Oaks 9. Far Northwest 1. Pasadena/Galena Park NORTHEAST 3.INNER LOOP 4EnerInnergy CorridorLoop / River Oaks 3. Sugar4 Land/SSpringtafford Creek 10. Tomball/Spring4 Jersey Cypress Village 2. Channelview/Be4 Libertyaumont County 1 Gulf Freeway/Pasadena NORTH 4. Katy/Cinco Ranch 4. Richmond/Rosenberg 3. Baytown/Chambers 5 Heights 5 Far North 5 Copperfield 1 Pearland / Manvel 2 Baybrook / Clear Lake 6 6 6 Fairfield SOUTH 2 3 East End The Woodlands - Montgomery Near South SOUTHEAST Old Pearland / Alvin 1 Memorial 1 Sharpstown - Southwest Central 7 Cypress/Bridgelands NORTHWEST NORTHWEST 2 Westchase 2 West Oaks 8 Far Katy North MARKETWEST 3 Energy WATCH Corridor HOUSTON RETAIL MARKET3 Sugar AUGUST Land - Stafford 2016 9 Far Northwest SOUTHWEST 4 Katy - Cinco Ranch 4 Richmond Rosenberg 10 Tomball/Spring Cypress HOUSTON RETAIL MARKET WATCH AUGUST 2016 ABOUT TRANSWESTERN Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. Transwestern was founded in Houston, Texas in 1978, and Houston remains the corporate headquarters today. As one of the preeminent commercial real estate firms in Houston, we offer a comprehensive menu of real estate services designed to provide owners, tenants and investors with the optimum solutions for their unique requirements. Transwestern has seasoned veterans in every area of expertise with the integrity, experience and creativity to be the best partner for its clients. Transwestern’s Houston office currently employs over 400 team members and has been an innovator in the Houston market for 38 years. SEATTLE MINNEAPOLIS BOSTON DETROIT MILWAUKEE GREENWICH NEW YORK CHICAGO NEW JERSEY SAN FRANCISCO WALNUT CREEK SALT LAKE SILICON CITY BETHESDA BALTIMORE DENVER VALLEY WASHINGTON DC NORTHERN ST. LOUIS VIRGINIA LOS ANGELES OKLAHOMA ORANGE COUNTY CITY SAN DIEGO PHOENIX TRANSWESTERN ATLANTA FORT DALLAS WORTH LOCATIONS HOUSTON AUSTIN SAN ANTONIO NEW ORLEANS ORLANDO FORT LAUDERDALE MIAMI-DADE HOUSTON RETAIL TEAM Nick Hernandez Crystal Allen Cindy Pham Ryan Holliday Managing Director Senior Vice President Senior Broker Associate 713.270.3354 713.270.3360 713.231.1562 713.231.1623 [email protected] [email protected] [email protected] [email protected] Micha van Marcke, CCIM Chace Henke Danielle Schidlowski Tyler Trevino Senior Vice President Vice President Associate Associate 713.272.1231 713.272.1274 713.231.1584 713.720.3388 [email protected] [email protected] [email protected] [email protected] Grant Walker Chris Reyes Alex Kelly Senior Vice President Vice President Associate 713.270.3389 713.272.1280 713.231.1568 [email protected] [email protected] [email protected] CONTACT METHODOLOGY Rachel Andrae Kevin Roberts The information in this report is the result of a compilation of publicly available Research Analyst President, Southwest data from a variety of commercial and government sources. 713.272.1216 713.270.3347 [email protected] [email protected] 1900 West Loop South, Suite 1300 T 713.270.7700 F 713.270.6285 Houston, Texas 77027 www.transwestern.net/houston Copyright © 2016 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein. MARKET WATCH HOUSTON RETAIL MAY 2016 RECENT RETAIL LEASES RETAIL LEASE STATISTICS Sugar Land/Stafford :: 24 Hour Fitness 38,000 SF new lease at Brazos Town Center Overall Vacancy Rates Asking Rental Rates (NNN) Greenspoint/North Belt :: Epic Thrift Stores 11.0% $18.25 29,500 SF new lease at Deerbrook Commons 10.0% $18.00 Atascocita :: Old Navy 12,500 SF new lease at Westlake Marketplace 9.0% $17.75 Bellaire/West University :: Dollar Tree 8.0% $17.50 12,000 SF new lease at Loop Center 7.0% $17.25 RECENT RETAIL SALES Pasadena/Galena Park :: Federal Road Shopping 6.0% $17.00 Center 18,330 SF 5.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 $16.75 Buyer: B&G Real Estate Partnership 13 13 13 13 14 14 14 14 15 15 15 15 16 Seller: Federal 883, LLC Source: CoStar - Houston retail buildings 5,000 SF and greater RETAIL IN THE NEWS Retail Sales Statistics H-E-B is keeping to its growth plans HOUSTON MSA UNITED STATES link to story QUARTER TO LAST QUARTER TRAILING 12 LAST QUARTER TRAILING 12 Houston Chronicle, May 9, 2016 DATE (Q1 2016) MONTHS (Q1 2016) MONTHS Volume ($ Japanese retailer inks first Houston lease, more in $12.1 $188.1 $1,290.8 $18,139.4 $81,286.1 Mil) the works No.
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  • Richmond Square

    Richmond Square

    theGalleria WILLIAMS TOWER LAKES ON POST OAK MANHATTAN 3009 POST OAK CONDOMINIUMS THE PLAZA ON RICHMOND BROADSTONE POST OAK APARTMENTS GALLERIA OAKS RICHMOND AVENUE FUTURE APARTMENTS MIXED-USE POST OAK BOULEVARD DEVELOPMENT IH 610 | WEST LOOP FREEWAY RICHMOND SQUARE RICHMOND SQUARE HOUSTON, TEXAS | EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp., a Texas licensed real estate broker (“HFF”). | RICHMOND SQUARE The Gateway to the Galleria Aerial View Facing Northeast KEY Employment 1 Lakes on Post Oak 22 2 3009 Post Oak - Alliantgroup HQ 23 MEMORIAL DR 3 Williams Tower - Hines HQ 20 4 Post Oak Central 5 Four Oaks Place- BHP Billiton HQ 11 6 6 Amegy Bank HQ 5 15 19 Mixed-Use 9 10 7 Galleria 3 4 14 8 Proposed Mixed Use 18 9 River Oaks District 13 10 BLVD Place- Whole Foods 11 Uptown Park 2 Retail 21 12 The Plaza on Richmond 7 13 Centre at Post Oak POST OAK BLVD 17 14 Post Oak Center 15 Highland Village - Central Market Residential 1 8 16 Lamar Terrace ($550K - $1.8M) 17 Manhattan Condos ($600K-$1.6M) 12 18 Afton Oaks ($500K-$3.5M) 19 Tanglewood ($750k - $6.2M) RICHMOND AVE 16 20 River Oaks ($1.6M-$17M) Points of Interest RICHMOND SQUARE SAGE RD 21 Gerald D. Hines Waterwall Park 22 Memorial Park 23 River Oaks Country Club PROPERTY OVERVIEW Address: 5005 - 5133 Richmond Ave In-Place Occupancy 100.0% Houston, TX 77056 Traffic Counts Richmond Ave.: 48,500 VPD Location: Richmond at I-610 I-610: 317,000 VPD Year Built 1989 Total: 365,500 VPD Net Rentable Area 88,446 SF Tenants Best Buy, Cost Plus World Market,