DOCSLIB.ORG

Memorial Drive Summaryexecutive Houston, Texas

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Memorial Drive Summaryexecutive Houston, Texas INVESTMENT HIGHLIGHTS 15150MEMORIAL DRIVE EXECUTIVE SUMMARY HOUSTON, TEXAS EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a Texas licensed real estate broker (“HFF”). 15150 MEMORIAL DRIVE 1 INVESTMENT HIGHLIGHTS HFF, as exclusive advisor for the Owner, is pleased to offer the opportunity to acquire a 100% fee simple interest in 15150 Memorial Drive (“The Property”), a 155,118 square foot vacant Class A office building and structured parking garage located just west of the intersection of Memorial Drive and Eldridge Parkway in one of the most dynamic areas in Houston. Situated on a wooded 5.7 acre site, 15150 Memorial Drive is the ideal location for corporations seeking a prestigious address within a headquarters quality building in Houston’s Energy Corridor. 15150 Memorial Drive provides an exceptionally rare opportunity to acquire an institutional quality asset with 155,118 square feet of contiguous space in one of the country’s strongest MSA’s at a price well below replacement. INVESTMENT SALES TEAM H. DAN MILLER, CCIM, SIOR Senior Managing Director Phone (713) 852-3576 [email protected] TRENT AGNEW Director Phone (713) 852-3431 [email protected] WESLEY HIGHTOWER Real Estate Analyst Phone (713) 852-3495 [email protected] FOR DEBT INQUIRIES COLBY MUECK Director Phone (713) 852-3575 [email protected] 2 HFF INVESTMENT HIGHLIGHTS INVESTMENT HIGHLIGHTS INVESTMENT SUMMARY ADDRESS 15150 Memorial Drive, Houston, Texas 77079 YEAR BUILT 1992 OFFICE SF 155,118 SITE SIZE 5.7 acres (248,161 SF) OCCUPANCY 0% PARKING RATIO 3.1 per 1,000 SF (ability to expand to 4.4 per 1,000) 4 4 HFF INVESTMENT HIGHLIGHTS EXECUTIVE SUMMARY RARE VALUE-ADD/OPPORTUNISTIC INVESTMENT IN HOUSTON’S ENERGY CORRIDOR DISCOUNT TO REPLACEMENT COST • 15150 Memorial Drive presents investors a very rare opportunity to acquire a Class A office building in • Based on recent land sales in the immediate area of $30-$45 per land square foot and HFF’s data on one of the nation’s most dynamic and resilient submarkets at a price well below replacement cost. construction costs, it is estimated that the cost to replace 15150 Memorial Drive is $300+ per square foot • Similar profile transactions over the last few years have all been major successes for investors, including 1200 Enclave, Energy Crossing, Reserve at Park Ten and Westway III. • Due to the tremendous increases in land prices within the immediate area, it would not be feasible to • Prices in excess of $300 PSF have been demonstrated multiple times in this submarket and next generation construct a 155,118 square foot office building on 5.7 acres today making this a very unique opportunity. sales of $400-$500 PSF are expected in the next 6 to 12 months based on recent rental rates that have been achieved. PREMIER LOCATION IN THE HEART OF THE ENERGY CORRIDOR • 15150 Memorial Drive offers a prestigious address along Memorial Drive, one of Houston’s premier east/ west thoroughfares, with some of the best ingress and egress available in the submarket and direct access to the IH-10 feeder, establishing a tremendous advantage over competitive office buildings. • Many highly acclaimed and successful office developments are situated within a few miles of the Property including Enclave Business Park, WestLake Park and Energy Center, which each total over 1.5 million 15150 Memorial Drive square feet and are the corporate/regional headquarters for a number of Fortune 500 companies such as ConocoPhillips and Sysco Corporation, and other multinational companies including BP America, Schlumberger, CITGO, Gulf States Toyota, AMEC Foster Wheeler, Shell Oil and Worley Parsons. • The area within five miles of the Property features a population of more than 244,000 people and is projected to grow to well over 260,000 by 2020, an 8.4% growth rate. This population resides in some of Houston’s most prominent neighborhoods including Royal Oaks and the Memorial Villages. • Future tenants of 15150 Memorial Drive also benefit from an abundance of amenities in close proximity, including over 1,300 hotel rooms in hotels such as the Omni Houston Hotel at Westside, Hotel Sorella City Centre and the Westin Memorial City, as well as over 3 million square feet in some of the city’s SUPERIOR CLASS A ASSET most popular retail and entertainment destinations such as City Centre, Memorial City Mall, and Town • Designed by Kirksey Architecture and built by EE Reed Construction in 1992, 15150 Memorial has been & Country Village. meticulously maintained and can compete with newer vintage buildings in the Energy Corridor submarket. The Property was originally developed as the corporate headquarters for Landmark Graphics, a division of Halliburton, and has also previously served as the corporate headquarters PGS Americas. • The building possesses a number of characteristics that make it an ideal corporate campus, including signage opportunities, secure access to the site/garage/building, men’s and women’s locker rooms, full-service cafeteria, ample structured parking with the potential to expand, loading dock, and a highly desirable park-like setting. A cube-shaped glass building entry between the garage and building could serve as a conference center or tenant amenity area. • Floor plates offer an efficient 24,460 square feet layout and can accommodate a single tenant or multi- tenant space plan. • Recent capital improvements include roof replacement in 2006 and other energy management system upgrades which have enabled the building to achieve an Energy Star label seven times since 2008 with an overall rating of 91. 15150 MEMORIAL DRIVE 1 INVESTMENT HIGHLIGHTS RESILIENT MARKET FUNDAMENTALS HOUSTON ECONOMIC ENGINE • Class A properties in the Energy Corridor submarket absorbed almost 5.2 million square feet in the last • Driven by robust energy, manufacturing, trade and medical sectors, the unemployment rate of 4.7% as 5 years, and current Class A occupancy stands at 85.5% as of Q2 2015, having exceeded 85% for the of July 2015 which is well below the national unemployment rate of 5.3%. Over the last five years, the last 19 quarters. metropolitan area created 445,400 net new jobs, including 104,700 jobs in 2014 for a 3.6% increase. • The lowest level of occupancy in the last 10 years came in Q4 2009 (84.6%), but after only two years the • With 6.5 million residents, the Houston MSA is the 5th most populous metropolitan area, having added average occupancy rate bounced back to 92.6%, having absorbed 1.2 million square feet in that time. 1.8 million residents Since 2000 which equates to an average growth rate of 10,000 residents per month. • Rental rates were also coming off of an all-time low in 2009 ($26.89 psf) but experienced rapid growth • With a metropolitan GDP of $523 billion, Houston is the 4th largest U.S. metro economy; if Houston were over that same two-year stretch, rising almost 5% to over $30 psf in 4Q 2011. The current average Class a country it would rank 23rd alongside Sweden A rental rate in the submarket is $35.68 per square foot gross, which represents a 23% increase within • Houston has benefitted from more than 1,500 significant corporate relocations or expansions since 2009 the last three years and a healthy 32.7% increase since the trough in Q3 2009. (Significant defined as creating more than 50 jobs, leasing 20,000 square feet and/or investing more • 30% of the total Class A square footage in the Energy Corridor is owner-occupied, and 13 tenants lease than $1.0 million). more than 200,000 SF of Class A space in the Energy Corridor, providing a stable base occupancy in • 26 Fortune 500 and 55 Fortune 1000 companies are headquartered in Houston, ranking it third in the the submarket and exhibiting the strong demand for space. nation behind New York and Chicago. • Although the Energy Corridor has 1.2 million square feet of Class A space on the sublease market, 68% of the space will expire in the next five years and is therefore not a threat to investors of 15150 Memorial HOUSTON ACCOLADES who are looking to execute leases with longer than five years of term. • According to NCREIF data, Houston has consistently ranked in the top 10 U.S. office markets for total HISTORICAL OCCUPANCY & RENTAL RATES return generation across one, three, five, seven, and 10 year historical periods. Houston has averaged Energy Corridor Class A - 10-Year History 100.0% $37.00 a 10.8% total return annually over the last 10 years, ranking it third among all U.S. office markets. $35.00 95.0% • The Urban Land Institute (“ULI”) named Houston as its top U.S. real estate market to watch in its Emerging $33.00 $31.00 Trends in Real Estate 2015 publication due to its strong population and employment growth. 90.0% $ % $29.00 e y t c a n R a l p 85.0% $27.00 a u t c n c e O $25.00 R 80.0% $23.00 $21.00 75.0% $19.00 70.0% $17.00 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q Occupancy (%) Rental Rates ($) ENERGY CORRIDOR CLASS A LEASING MOMENTUM 2,500,000 140 120 2,000,000 100 s l a d 1,500,000 e e D s 80 t a c e e L r i F D S 60 1,000,000 # 40 500,000 20 0 0 TTM 2Q06 TTM 2Q07 TTM 2Q08 TTM 2Q09 TTM 2Q10 TTM 2Q11 TTM 2Q12 TTM 2Q13 TTM 2Q14 TTM 2Q15 Direct SF Leased Total SF Leased # Direct Deals 2 HFF INVESTMENT HIGHLIGHTS EXECUTIVE SUMMARY 15150 MEMORIAL DRIVE 3 AERIAL PHOTOGRAPH - EAST FACING MEMORIAL CITY MEMORIAL VILLAGES W E S T S A M H O U S T O N PA R K W AY CITYCENTRE TECHNIP ADDICKS RESERVOIR SHELL IH-10 | KATY
Load more

Recommended publications
  • Case 2:11-Cv-00407-DF Document 1 Filed 09/14/11 Page 1 of 8 Pageid #: 1
    Case 2:11-cv-00407-DF Document 1 Filed 09/14/11 Page 1 of 8 PageID #: 1 IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF TEXAS MARSHALL DIVISION LBS INNOVATIONS LLC, § § Plaintiff, § § v. § Civil Action No. § BP AMERICA INC.; § CONOCOPHILLIPS § DBA CONOCOPHILLIPS INC.; § Jury Trial Demanded CHOICE HOTELS INTERNATIONAL, INC.; § COSTCO WHOLESALE CORPORATION; § HYATT CORPORATION; § KEYCORP; KEYCORP FINANCE INC.; § MARRIOTT INTERNATIONAL, INC.; AND § MCDONALD‟S CORPORATION, § § Defendants. § PLAINTIFF’S COMPLAINT FOR PATENT INFRINGEMENT Plaintiff LBS Innovations, LLC files this Complaint against BP America Inc.; ConocoPhillips dba ConocoPhillips Inc.; Choice Hotels International, Inc.; Costco Wholesale Corporation; Hyatt Corporation; KeyCorp; KeyCorp Finance Inc.; Marriott International, Inc.; and McDonald‟s Corporation (collectively the “Defendants”) and alleges as follows. PARTIES 1. Plaintiff LBS Innovations LLC (“LBSI”) is a New Jersey Limited Liability Company with its principal place of business at 53 Ramapo Mountain Drive, Wanaque, New Jersey 07465. 2. Upon information and belief, Defendant BP America Inc. (“BP”) is a corporation organized and existing under the laws of the State of Texas, with its principal place of business PLAINTIFF‟S COMPLAINT FOR PATENT INFRINGEMENT Page 1 Case 2:11-cv-00407-DF Document 1 Filed 09/14/11 Page 2 of 8 PageID #: 2 located at 501 Westlake Park Boulevard, Houston, Texas 77079. BP may be served with process through its registered agent CT Corporation System, 350 N. St. Paul St., Suite 2900, Dallas, Texas 75201. 3. Upon information and belief, Defendant ConocoPhillips dba ConocoPhillips Inc. (“ConocoPhillips”) is a corporation organized and existing under the laws of the State of Texas, with its principal place of business located at 600 N.
    [Show full text]
  • The Energy Corridor District Land Use & Demographics Report 2017
    SCENARIOS LAND USE & DEMOGRAPHICS 2017 Inventory and Database CDS Community Development Strategies TM The Energy Corridor 2017 Inventory and Database 2 The Energy Corridor 2017 Inventory and Database Table of Contents Table of Contents ........................................................................................................................................... i Table of Exhibits ............................................................................................................................................. i Introduction and Overview ........................................................................................................................... 1 Major Employers ........................................................................................................................................... 3 Land Use ........................................................................................................................................................ 4 Land Use Maps ........................................................................................................................................... 4 Existing Development Summary .............................................................................................................. 10 Multi-Family Housing ............................................................................................................................... 12 Retail ........................................................................................................................................................
    [Show full text]
  • IH 10 (KATY FWY) SL 8 (Sam Houston Tollway) to IH 610W (West Loop)
    Mobility Investment Priorities Project Houston IH 10 IH 10 (KATY FWY) SL 8 (Sam Houston Tollway) to IH 610W (West Loop) Current Conditions From IH 610 North to Beltway 8 (Sam Houston Tollway), IH 10 is an east-west freeway with five to six general purpose lanes and three to four lanes of continuous frontage roads in each direction. Four managed lanes (two each direction), known as the Katy Tollway, operate in the middle of the corridor. During peak hours, high occupancy vehicles (HOV) may utilize the Katy Tollway for free, while single occupancy vehicles (SOV) must pay a dynamically-priced toll rate which varies throughout the day based on traffic volume. During off-peak hours, the tollway is dynamically-priced for all vehicles regardless of occupancy. METRO and school 2010 Rank: 22 2013 Rank 21 buses are allowed to utilize the managed lanes at Annual Hrs of Delay/Mile: 329,000 all times toll-free. Congestion Time: 4.8 Hours Annual Cost of Delay: $64.8 Million Traffic on IH 10 loosely follows a traditional Average Daily Traffic: 297,000 Vehicles inbound/morning and outbound/evening congestion pattern, though both directions Miles Per Hour experience significant slowdowns during the evening peak period. Segment Length: 6.6 miles. Road Type: 14-lane divided freeway. Annual Hours of Delay: 2,178,000. Texas Congestion Index: 1.43. Commuter Stress Index: 1.60. Intelligent Transportation Systems (ITS) infrastructure along this corridor includes: . Travel time monitoring system covering the entire segment. Possible Congestion Causes . Seven CCTV cameras to aid incident This segment of IH 10 serves as a primary route management, with two motion cameras.
    [Show full text]
  • United States District Court District of Columbia
    Case 1:20-cv-01932 Document 1 Filed 07/17/20 Page 1 of 63 UNITED STATES DISTRICT COURT DISTRICT OF COLUMBIA DISTRICT OF COLUMBIA, 441 4th St., N.W., Washington, D.C. 20001, Plaintiff, v. EXXON MOBIL CORP., 5959 Las Colinas Blvd., Irving, TX 75039, EXXONMOBIL OIL CORPORATION, 5959 Las Colinas Blvd., Irving, TX 75039, ROYAL DUTCH SHELL PLC, Carvel Civil Action No. ________ van Bylandtlaan 16, 2596 HR The Hague, The Netherlands, SHELL OIL COMPANY, 150 N. Dairy Ashford, Houston, TX 77079, BP P.L.C., 1 St. James’s Square, London, SW1Y4PD, BP AMERICA INC., 501 Westlake Park Blvd., Houston, TX 77079, CHEVRON CORPORATION, 6001 Bollinger Canyon Road, San Ramon, CA, CHEVRON U.S.A. INC., 6001 Bollinger Canyon Rd., San Ramon, CA 94583, Defendants. NOTICE OF REMOVAL PLEASE TAKE NOTICE THAT Defendants Exxon Mobil Corporation and ExxonMobil Oil Corporation (collectively, “ExxonMobil”), hereby remove this action, currently pending in the Superior Court of the District of Columbia, to the United States District Court for the District of Columbia pursuant to 28 U.S.C. §§ 1331, 1332(a), 1332(d), 1441(a), 1442(a), and 1453(b), and 43 U.S.C. § 1349(b)(1). To the extent any part of Plaintiff’s causes of action can be construed as non- federal, this Court has supplemental jurisdiction over them under 28 U.S.C. § 1367(a) because they form part of the same case or controversy as those causes of action over which the Court has Case 1:20-cv-01932 Document 1 Filed 07/17/20 Page 2 of 63 original jurisdiction.
    [Show full text]
  • The Energy Corridor District Land Use & Demographics Report 2014
    The Energy Corridor 2014 Inventory and Database 2 The Energy Corridor 2014 Inventory and Database Table of Contents Table of Contents ........................................................................................................................................... i Table of Exhibits ............................................................................................................................................. i Introduction and Overview ........................................................................................................................... 1 Major Employers ........................................................................................................................................... 3 Land Use ........................................................................................................................................................ 4 Land Use Maps ........................................................................................................................................... 4 Development Summary ............................................................................................................................ 16 Multi‐Family Housing ............................................................................................................................... 18 Retail ......................................................................................................................................................... 19 Office .......................................................................................................................................................
    [Show full text]
  • Houston Office Marketview
    MARKETVIEW Houston Office, Q4 2018 Houston’s absorption positive for the first time in 2018 Vacancy Rate Avg. Asking Rate Net Absorption Under Construction 18.6% $29.00 PSF 590,320 SF 2.23 MSF *Arrows indicate trend from previous quarter. Figure 1: Houston Office Market Trends MSF 60 25% 50 20% 40 15% 30 10% 20 10 5% 0 0% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Direct SF Sublease SF Vacancy (%) Availability (%) Source: CBRE Research, Q4 2018. HOUSTON MARKET FINISHES 2018 STRONG EXPIRING SUBLEASE MEANS HIGHER VACANCY In a reversal of course, Houston saw positive net absorption overall in the fourth quarter for the first After peaking at 23.0% in Q2 2018, total availability time this year. Specifically, the consulting, dropped to 22.4% in the fourth quarter. While technology and energy industries all boasted positive availability declined, vacancy continued to climb and absorption. On the downside, the Energy Corridor peaked at 18.6%, partly a result of more than 1 struggled with 197,000 sq. ft. of negative absorption, million sq. ft. of sublease space expiring and largely due to Amec Foster Wheeler vacating all of becoming vacant rather than being absorbed. Energy Center I. The move followed a merger with Persistent sublease space rolling vacant will likely the Wood Group. put downward pressure on asking rents in the The fourth quarter saw wild movement in oil prices, coming quarters despite the early signs of recover. with West Texas Intermediate Crude (WTI) first peaking at $76.90/bbl on October 3rd and closing the FLIGHT TO QUALITY CONTINUES quarter at $45.41/bbl.
    [Show full text]
  • City of Houston Assisted Properties Senior Housing 2100 Memorial Drive Apts. 2100 Memorial Dr., Houston, TX 77007 Senior 19
    City of Houston Assisted Properties Senior Housing 2100 Memorial Drive 2100 Memorial Dr., Senior 19 101 https://www.2100memorialhouston.com/ Apts. Houston, TX 77007 7 Allen Parkway Village 1600 Allen Pkwy, Senior 50 255 http://www.historicoaks.com/ ((APV),(HOAPV) Senior Houston, TX 77019 0 Village Chelsea Senior 3230 W. Little York Rd., Senior 15 16 https://www.chelseaseniorcommunity.com/ Community Houston, TX 77088 0 Commons of Grace 9110 Tidwell Rd., Senior 10 31 https://www.commonsofgrace.com/ Senior Houston TX,77078 8 Corinthian Village 6105 W. Orem Dr., Senior 12 40 http://www.corinthianvillagehouston.com/ Houston, TX 77085 4 Floral Garden Apts. 7950 1/2 S. Sam Houston Senior 10 6 http://floralgardenapts.com/ W. Pkwy, Houston, TX 0 77085 Goldberg Towers (B'nai 10909 Fondren Rd., Senior 30 300 http://www.gbbt.org/ B'rith Senior Citizens) Houston, TX 77096 0 Golden Bamboo Village 12010 Dashwood Dr., Senior 60 44 Houston TX, 77072 Golden Bamboo Village 6628 Synott, Houston TX, Senior 13 10 https://www.goldenbamboovillage3.com/ III 77083 0 Hometowne on Bellfort 10888 Huntington Senior 21 16 https://www.hometownebellfort.com/ Estates, Houston, TX 0 77099 Hometowne on Wayside 7447 N Wayside Dr., Senior 12 27 https://www.hometownewayside.com/ Houston, TX 77028 8 Houston Heights Tower 330 W. 19th St., Houston Senior 22 168 TX, 77006 3 Independence Hall Apts. 6 Burress St., Houston, TX Senior 29 149 77007 2 Kingwood Senior Villages 435 Northpines Dr., Senior 19 22 https://kingwoodseniorvillage.com/ Kingwood TX 77339 3 Langwick Senior 955 Langwick Dr., Senior 12 10 http://www.langwickseniorresidences.com/ Residences Houston, TX 77060 8 Mariposa at Reed Rd 2889 Reed Rd., Houston, Senior 18 44 http://www.mariposaapartmenthomes.com/ Senior Apts.
    [Show full text]
  • 2012 OCS Advisory Board Workshop 10-Feb-2012 2012 OCSAB
    2012 OCS Advisory Board 2012 OCSAB Workshop Directory 10-Feb-2012 Workshop (copy) Janet Aceves Mitch Ackal Land Negotiator Vice President - Business Development BP LLOG Exploration Company, L.L.C. 200 Westlake Park Blvd. 1001 Ochsner Blvd. Suite 200 Houston, TX Covington, LA 281-366-0288 985-801-4300 Andrew Adams Alaine Ainsworth Member Lease & Contract Analyst Gieger, Laborde & Laperouse, LLC Apache Corporation 1177 West Loop South, Suite 750 2000 Post Oak Blvd Suite 100 Houston, TX Houston, TX 832-255-6003 2803022709 Lindsay Alaniz Susan Alonso Sr. Landman Consultant ConocoPhillips Guinn & Associates 600 N Dairy Ashford P.O. Box 45 Houston, TX Sugar Land, TX 281-293-3163 713-425-2766 Michael Altobelli Ed Amrock Vice President - Land Land Manager LLOG Exploration Offshore, L.L.C. Arena Energy, LP 11700 Katy Freeway, Suite 295 4200 Research Forest Dr. Suite 500 Houston, TX The Woodlands, TX 281-752-1105 281-210-3144 1 of 38 2012 OCS Advisory Board 2012 OCSAB Workshop Directory 10-Feb-2012 Workshop (copy) Robin Anderson Robyn Arnold Sr. Staff Land Advisor Land Analyst Energy XXI XTO Energy 1021 Main Street One Riverway, Suite 700 Suite 2626 Houston, TX Houston, TX 713-351-3144 713-871-3420 Timothy Austin Anne Bailey Manager-Land & Business Development Land Representative Peregrine Oil & Gas Companies Chevron U.S.A. Inc. Three Riverway, Suite 1750 100 Northpark Blvd. Houston, TX Covington, LA (713) 589-6907 985-773-6711 Frank Barber Charles Barnes Vice President, Land, Legal & Acquistions VP Land & Business Devlopment ANKOR Energy LLC Stephens Production Company, LLC 1615 Poydras Street, Suite 1100 808 Travis St.
    [Show full text]
  • Visitor's Guide
    Products Solutions Services Visitor’s Guide Houston and La Porte Regional Sales Centers 2 Content Content .............................................................................................................................. 2 Dress Code ......................................................................................................................... 2 Welcome! .......................................................................................................................... 3 Endress+Hauser Calibration & Service Center Visitor’s Map ....................................... 4 Hotel Information ............................................................................................................. 6 Arrival/Departure and Transfer ...................................................................................... 8 George W. Bush International Airport ..............................................................................................................................8 William P Hobby Airport .................................................................................................................................................10 Local Attractions ............................................................................................................12 Dining ..............................................................................................................................14 Dress Code Business casual is appropriate for all events. Jeans are appropriate on Friday. PC Tour / PTU
    [Show full text]
  • Letter to Current Petroleum Operators and New Entrants
    December 30, 2019 To: Current Petroleum Operators and New Entrants Via Email (Distribution List attached) RE: R&D Benchmark Ceiling Dear Sir/Madam: I am writing to advise of a change in the application of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2004 Guidelines for Research and Development Expenditures in the Canada-Newfoundland and Labrador Offshore Area. With effect from January 1, 2017, the C-NLOPB will apply a ceiling of 0.5% on the five-year average of the Statistics Canada research and expenditure data, as a percentage of revenue, as set out in section 2.2 of the 2004 Guidelines. The five-year average R&D Benchmark shall continue to be calculated in accordance with the 2004 Guidelines, but notwithstanding such calculation, shall not exceed 0.5%. This ceiling on the R&D Benchmark shall apply to all petroleum projects in the Canada-Newfoundland and Labrador Offshore Area. The Board will recalculate producing projects’ R&D/E&T expenditure obligations for 2017, 2018, and 2019 and advise you under separate cover of the expenditure obligation calculated for those years. Similarly, if a project’s Operation Authorization was renewed in the past three years, a new reconciliation of obligations to approved expenditures will be completed. Should a deficit in expenditures result from this new reconciliation, we will advise of the shortfall amount and request that Letters of Credit be provided. Please do not hesitate to contact me should you have any questions or concerns regarding this change in the R&D Benchmark. Sincerely, Mike Baker CPHR, SHRM-SCP Director, Industrial Benefits Distribution List Scott M.
    [Show full text]
  • The Fastest Growing Cougar Owned Or Led Businesses of 2019 About the Cougar 100
    THIS IS WHAT SUCCESS LOOKS LIKE 6th Annual Recognizing the Fastest Growing Cougar owned or led Businesses of 2019 About The Cougar 100 The University of Houston and the University of Houston Alumni Association welcomes all outstanding Cougar companies to our established community of business excellence, the Cougar 100! The Cougar 100 is fast becoming our most exciting program for recognizing our Cougar owned and operated businesses. Now in its sixth year, the Cougar 100 has welcomed over 200 companies to the list since its inception. This year, we welcome 14 companies to the list for the first time. Companies on the list are ranked by percentage of compound annual growth in sales or revenue across a three-year period with gross revenues above $250,000 and in business for 5 years or more. The Cougar 100 members will automatically be included in the Cougar Business to Business Network. The Cougar Business to Business Network will showcase Cougar-owned businesses, connect them with alumni and fellow business owners and support “Cougars should be doing business with Cougars”. Additionally, all those who submit will have the opportunity to take part in the UH Corporate Partner program. PKF Texas in Houston is the independent accounting firm that tabulates the results. They provide similar services to awards programs such as the FasTech 50 in Houston. As a Cougar business owner or operator, you want to be a part of this program. To nominate your company for the list next year, please contact Jarred Fancher at 713-743-7849 or by e-mail at [email protected].
    [Show full text]
  • Renovation / Restoration Experience
    Renovation / Restoration Experience 1600 Smith Street Venture, Garage Modifications / Houston, Texas Aetna Realty Investors / Houston, Texas Bank One Center Renovation Air Liquide America Corporation / Houston, Texas Office Remoel Alley Theater / Houston, Texas Renovation Hurricane Harvey Renovation Flood Mitigation American General Realty / Houston, Texas Wortham Tower Roof Replacement Multiple Office Exterior Renovation Life Building Floor Renovations Wortham Tower Lobby Renovations Cafeteria Renovations Amoco Production Company Building Renovations / New Orleans, Louisiana Westlake Park Office Renovations / Houston, Texas Apache Corporation / Houston, Texas Demolition and Renovations Arthur Anderson & Co. / Houston, Texas Remodel 23rd Floor, Southwest Corner Remodeling in Bank of the Southwest Building Baker Botts, One Shell Plaza Renovations / Houston, Texas Bank One Center (Originally Bank of the Southwest) / Houston, Texas Baylor College of Medicine / Houston, Texas Gross Anatomy Lab Renovations Morgue Classroom Renovations Various Renovation Projects Bell and Murphy, Four Oaks East Renovation / Houston, Texas Casino America, Inc., Superdome Skybox Renovation / Lake Charles, Louisiana Chevron Real Estate Management Company Westbelt Public Area Renovations / Houston, Texas Chevron Place Level 20 Interior Renovations / New Orleans, Louisiana Christ Church Cathedral / Houston, Texas Renovation and Restoration City of Houston, Upper Brays Regional Waste Water Treatment Planet Renovation / Houston,
    [Show full text]