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Redevelopment Opportunity Downtown Houston, Texas

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Redevelopment Opportunity Downtown Houston, Texas Former Spaghetti Warehouse 901 Commerce Street For Sale Houston, TX JLL Disposition Services Pierce Owens Redevelopment Opportunity Senior Vice President Downtown Houston, Texas +1 713 425 5912 [email protected] Michael Hassler First Vice President - CBRE – Sales Price: $1,100,000 +1 713 577 1736 – Parcel Size: 0.18 Acres (7,850 SF) [email protected] – Price Per Land SF: $140/SF Donna Kolius Executive Vice President – Previous Use: Former Spaghetti Warehouse Site +1 713 425 5856 – Building Size: 15,072 SF [email protected] – Frontage: 80’ on Commerce St. Kaylie Walker – Zoning: None Associate +1 713 425 5830 [email protected] Highlights: – Potential redevelopment opportunity in the Historic District of Downtown Houston; – Downtown is the home of large corporations, arts centers, hotels, restaurants and sports facilities such as: Wortham Center, Alley Theater, Jones Hall, Hobby Center, Bayou Place, Minute Maid Baseball Park, Toyota Basketball Center and George R Brown Convention Center; – Situated near Market Square Park, University of Houston-Downtown and Harris County Courthouses; – Great access at hard corner intersection of Commerce and Travis Streets in the northern edge of the Market Square Historic District, which has seen recent growth from new, upscale, high-rise residential developments; – Historic architectural appeal may garner economic tax credit incentives if façade is preserved in future redevelopment; – Parking may be secured from street parking, adjacent parking lots, and nearby garages. DISCLAIMER The information contained herein is obtained from sources believed to be reliable. However, Jones Lang LaSalle makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, and is subject to prior sale, lease or withdrawal without notice. Market Square Historic District The Market Square Historic District is roughly bounded by Milam Street, Buffalo Bayou, Fannin Street, and Texas Avenue. It also includes a section of Buffalo Bayou and part of the University of Houston–Downtown campus on the north side of the Bayou. Market Square Historic Distrcit is made up of 12 full city blocks and four partial blocks in the northeast corner of downtown Houston. According to Downtown Houston’s website, https://www.downtownhouston.org/district/historic/, Houston’s Downtown Historic District is a “favorite destination for downtowners and visitors alike. Perched on the northern edge of downtown, you’ll see quaint and historic building facades lining the streets, each one more delightful than the next. With a high concentration of residential buildings, the Historic District feels like a neighborhood despite the skyscrapers just a few blocks away. At the heart is Market Square Park. Local residents love the park for its dog run, green space, live music, movie nights and authentic Greek and American café. Old collides with new just across the street, where swanky new bistros, coffee shops and small nightclubs nestle nicely next to cozy, historic bars – many of which have been quenching our collective thirst for more than 30 years. Rounding out the neighborhood is Allen’s Landing at Buffalo Bayou, Houston’s “Plymouth Rock” and home of the newly restored “Sunset Coffee Building.” Houston METRORail System METRORail is the 23.8-mile (38.3 km) light rail system in Houston, Texas. As of 2015, the METRORail has an average weekday ridership of 56,600 and total annual ridership of 18,335,000. The METRORail connects the former Spaghetti Warehouse site to the University of Houston campus to the north; the Theater District and Buffalo Bayou Park to the west; the Convention District, Stadium and EaDo Districts to the East and the Texas Medical Center to the south. – Blue shading denotes Market Square Historic District – Yellow shading denotes METROrail System Buffalo Bayou “Buffalo Bayou has been a focal point in Houston’s history since the Allen brothers founded the city in 1836. Today, the bayou is once again the centerpiece of its development. Since issuing the 20-year master plan, Buffalo Bayou and Beyond in 2002, Buffalo Bayou Partnership (BBP) has been committed to creating a regional amenity that offers opportunities for recreation, entertainment and livability. Green space enhancements and hike and bike trails are revitalizing the once neglected bayou into an active and vibrant waterfront. The recently completed Buffalo Bayou Park offers 160 acres of beautiful scenery and skyline views, artwork, a nature play area, the “go-to” dog park in the city and gathering places for visitors to enjoy outdoor activities as well as artistic performances. Stretching from Shepherd Drive to Sabine Street between Allen Parkway and Memorial Drive, it is one of the country’s great urban parks.” - Courtesy of Buffalo Bayou Partnership Sunset Coffee Building Minute Maid Park Toyota Center.
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