Houston, Tx 77020
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Value Add Industrial DOWNTOWN HOUSToN 1020 WEST STEET | HOUSTON, TX 77020 ™ OFFERING MEMORANDUM LISTED BY: Kate Fernandez ASSOCIATE [email protected] DIR (214) 295-4893 MOB (214) 783-2443 LIC # 725123 (TX) Andrew Gross MARKET LEADER [email protected] DIR (214) 295-4511 MOB (435) 659-1404 LIC # 01987860 (CA) BROKER OF RECORD KYLE MATTHEWS LIC # 9005919 (TX) Contents 4 INVESTMENT HIGHLIGHTS 5 SURROUNDING TENANTS 8 PROPERTY OVERVIEW 9 AREA OVERVIEW INVESTMENT HIGHLIGHTS » Great visibility - located at the intersection of Highway 10 (163,000 VPD) and Highway 69 (142,000 VPD), just two miles from downtown Houston » Houston is a top 5 MSA by population, with over 1,378,507 people in the 10-mile radius » Less than 5 miles from the University of Houston (38,597 undergraduate enrollment) and Rice University (3,989 undergraduate enrollment) » Strong Industrial Location – Less than 10 miles from Port of Houston, William P Hobby Airport (6 million passengers per year), and Union Pacific Rail Yard • GREAT OWNER USER OR INVESTMENT/VALUE ADD INDUSTRIAL PROPERTY » Facility is 68% occupied, making it ideal for an owner-user to benefit from the space or for a value add investor to fill the space » Cityside Crossfit is a CrossFit gym that focuses on providing first-rate coaching and purposeful programming to the Houston metroplex 4 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 5 DOWNTOWN ± 14 MILES AWAY HOUSTON DOWNTOWN INTERSTATE 10 MIDDAY LOT METRO ± 163,000 VPD DOWNTOWN HENNESSY PARK CEMEX DOWNTOWN KH TRADING VARIETY STORE FIVE STAR AUTO STORAGE SUBJECT PROPERTY INTERSTATE 10 ± 163,000 VPD 4 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 5 ± 5 MILES AWAY ENGLEWOOD INDUSTRIAL SECTOR YARD INTERSTATE INDUSTRIAL SECTOR 10 ± 163,000 VPD INTERSTATE 69 INTERSTATE ± 142,000 VPD 69 ± 142,000 VPD SUBJECT PROPERTY INTERSTATE 10 ± 163,000 VPD 6 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 7 ± 5 MILES AWAY ± 5 MILES AWAY DOWNTOWN DOWNTOWN HOUSTON DOWNTOWN MIDDAY LOT METRO INTERSTATE INTERSTATE 10 ± 163,000 VPD 69 CEMEX DOWNTOWN ± 142,000 VPD FIVE STAR AUTO STORAGE INTERSTATE 10 SUBJECT ± 163,000 VPD PROPERTY 6 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 7 PROPERTY overview » ADDRESS 1020 West Steet, Houston, TX 77020 INVESTMENT SUMMARY » YEAR BUILT 2004 Price $2,200,000 » SQFT ±16,740 SF Price/SF $131.42 » LOT SIZE ±1.00 AC (±43,560 SF) DEBT QUOTE Please contact a Matthews™ agent for financing options: PATRICK FLANAGAN (214) 550-0277 [email protected] 8 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 9 FINANCIAL SUMMARY CONTRACT RENTAL RATE RENT $ PSF TENANT LEASE START LEASE END SQUARE FEET % OF NRA YEAR MONTH RENT $ PSF/YR RENT $ PSF/MO Cityside Gym 3/1/19 2/28/24 11,395 68% $78,000.00 $6,500.00 $6.84 $0.57 Vacant - - 5,345 32% Totals 16,740 100% 8 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 9 SUBJECT PROPERTY HOUSTON INTERSTATE 69 PORT OF HOUSTON WESTPARK TOLLWAY INTERSTATE 610 INTERSTATE 610 ± 7.3 MILES WILLIAM P. INTERSTATE 69 ± 7.1 MILES HOBBY AIRPORT PORT OF HOUSTON ± 5.2 MILES WILLIAM P. ± 8.8 MILES HOBBY AIRPORT 10 | MATTHEWS REALWESTPARK ESTATE INVESTMENT TOLLWAY SERVICES™ ± 12 MILES 1020 West St| Houston, TX | 11 AREA OVERVIEW PROPERTY DEMOGRAPHICS POPULATION 1-MILE 3-MILE 5-MILE 2026 Projection 26,962 176,558 431,816 2021 Estimate 25,542 162,883 400,494 2010 Census 22,398 143,564 357,555 Growth 2021-2026 5.56% 8.40% 7.82% Growth 2010-2020 14.04% 13.46% 12.01% HOUSEHOLDS 1-MILE 3-MILE 5-MILE 2026 Projection 5,708 69,982 182,207 2021 Estimate 5,066 63,242 165,949 2010 Census 4,501 51,987 138,818 Growth 2021-2026 6.40% 6.00% 5.95% Growth 2010-2020 12.67% 10.66% 9.80% INCOME 1-MILE 3-MILE 5-MILE 2020 Avg. $57,525 $93,963 $109,516 Household Income 10 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 11 HOUSTON, TX Houston is the most diverse metropolitan area in Texas and has been described as the most racially and ethnically diverse major metropolis in the U.S. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts. Though Houston is the largest city in the United States without formal zoning regulations, it has developed similarly to other Sun Belt cities because the city’s land use regulations and legal covenants have played a similar role. Houston has the fifth-tallest skyline in North America (after New York City, Chicago, Toronto and Miami). A seven-mile system of tunnels and skywalks links Downtown buildings containing shops and restaurants, enabling pedestrians to avoid summer heat and rain while walking between buildings. Centered on Post Oak Boulevard and Westheimer Road, the Uptown District boomed during the 1970s and early 1980s when a collection of midrise office buildings, hotels, and retail developments appeared along Interstate 610 West. Uptown became one of the most prominent instances of an edge city. Located in the American South, Houston is a diverse city with a large and growing international community. Houston is highly regarded for its diverse food and restaurant culture. Several major publications have consistently named Houston as one of “America’s Best Food Cities”. A LOOK AT TEXAS THROUGH NUMBERS #1 ECONOMIC CLIMATE $1,587 BILLION TOP 10 HOT + 30 M RESIDENTS #2 BEST STATE FOR BUSINESS GROSS STATE PRODUCT HOUSING MARKET 2019 FROM 2010-2050 750,000 NEW RESIDENTS EVERY YEAR A LOOK AT HTX THROUGH NUMBERS 2.8X JOB GROWTH 12TH LARGEST MSA RANKED #3 IN NUMBER OF OVER 2019 AVG IN THE USA JOBS ADDED & RATE OF JOB GROWTH 12 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 13 BUSINESS CLIMATE Houston is a city of endless possibilities: Its history has been marked with achievements from the first word heard from the moon to the first artificial heart transplant. A distinctly favorable business climate promotes trade, commerce, industry, and economic growth in the Houston region. Many businesses recognize the allure of all Houston has to offer. Once dominated by oil-related jobs, Houston’s economy has diversified as new, core industries join energy in the regional employment mix. Top employers include: HOUSTON AS A GLOBAL CITY Houston maintains a global position as an international trade leader with economic and cultural ties reaching across the globe. As one of only five cities in the world connecting to all six inhabited continents, Houston is a global manufacturing and logistics hub and an international finance center. From the Port of Houston to the Houston Airport System, the city has an impressive array of logistical and distribution channels capable of meeting the demands of today’s fast-paced market. Added to the region’s central geographic location, Houston has easy access to the global marketplace, making it an ideal place for businesses looking to engage in international business. » More than 3,440 area firms, foreign government offices, and nonprofit organizations are involved in international business. » Approximately 1,700 Houston firms report foreign ownership and more than 150 Houston-based companies operate subsidiary locations around the world. These firms account for over 3,000 offices in more than 110 countries. » International trade directly or indirectly supports more than one-third of all jobs in the Houston metropolitan area. » Fifteen foreign governments maintain trade and commercial offices here, and the city has 35 active foreign chambers of commerce and trade associations. » Bush Intercontinental Airport offers non-stop service to more than 70 international destinations. » Hobby Airport completed construction on an International Terminal in 2015 and began service to Mexico and Latin America through Southwest Airlines. It now serves more than 55 destinations. 12 | MATTHEWS REAL ESTATE INVESTMENT SERVICES™ 1020 West St| Houston, TX | 13 HOUSTON SPORTS Houston is a major-league sports town where fans can cheer for a variety of professional, semi-pro, and collegiate teams year-round. Get into the action with the 2017 World Series Champion Houston Astros at Minute Maid Park or score a touchdown with the Texans at NRG Stadium, the world’s first retractable-roof NFL stadium. Grab courtside seats to see the two-time world-champion Houston Rockets at Toyota Center. BBVA Stadium, home of the Dynamo and the Dash, hosts numerous soccer matches throughout the year. Other annual professional sporting events include the Houston Open and the Houston Livestock Show & Rodeo—the world’s largest. Houston Astros - Major League Baseball / American League West division / Minute Maid Park Houston Dash - National Women’s Soccer / BBVA Compass Stadium Houston Dynamo - Major League Soccer Western Conference / BBVA Compass Stadium Houston Rockets - National Basketball Association Western Conference Southwest Division / Toyota Center Houston Texans - National Football League / American Football Conference South division / NRG Stadium DOWNTOWN HOUSTON Houston’s downtown has been revitalized with numerous clubs, professional sports facilities, and musical entertainment that has helped bring nightlife back to downtown. As one of the few U.S. cities with resident companies in theater, ballet, symphony, and opera, Houston’s Theater District, located downtown, offers visitors and residents alike exciting performances all season long. The city also shows its devotion to the arts through a full complement of art museums and critically acclaimed galleries in its Museum District. Countless cutting-edge chefs have made a home in Houston, where diners eat out more than residents of any other city.