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±51.75 A CRE O PP O RTUNITY F O R C O RP O R ATE H E A DQU A RTERS O R M IXED - USE D EVEL O P M ENT HOUSTON, TEXAS Greenway Galleria Plaza Memorial To S a n A n t o n i o Memorial Park Marq*E Center Awty International To D o w n t o w n Walmart School Ravenna H o u s t o n North Post Oak Road (Under Construction) Multi-family Under Construction Hempstead Highway ±51.75 Acres Houston ISD West 18th Street Athletic Campus der Constructio Grand Pkwy Un n 69 LIBERTY Lake COUNTY The Woodlands Houston State Park struction MONTGOMERY on C er ExxonMobil d COUNTY n Corporate Headquarters U y w k Eastex Frwy P nd ra G EXECUTIVE SUMMARY HARRIS COUNTY HFF, as exclusive advisor to the seller, is pleased to offer the unique Proposed George Bush opportunity to acquire Northwest Mall, a ±51.75 acre infill redevelopment Intercontinental Airport Grand site (the “Property”) located at the intersection of I-610 and US-290 in Pkwy Sam Houston Pkwy Houston, Texas. Currently, the Property is positioned as an 800,000 Lake Houston square foot enclosed mall with an established mix of national retailers as well as a variety of smaller specialty stores. Northwest Mall is in an Hardy Toll Road 69 Northwest Frwy North Frwy Sheldon excellent position to take advantage of a major roadway expansion along Reservoir US-290, positive demographic growth, and surrounding redevelopment ±51.75 Acres activity. At ±51.75 acres, this offering represents an unprecedented Beaumont Hwy North opportunity to acquire a site of this size and scale with excellent ingress/ Loop Baytown East Frwy egress between two of Houston’s most dynamic neighborhoods. Katy Frwy Energy Corridor Downtown Investment Highlights George Bush Galleria Park Westheimer Rd San East Loop 69 Jacinto One of the largest redevelopment sites situated in infill Houston. Westpark Tollway Bay • Texas Pasadena Frwy Medical West Loop West Center • Over ±1,650 feet of frontage along the interchange of two of the most heavily Loop Southwest Frwy South traveled thoroughfares in the state of Texas, US 290 and Interstate 610. • The Property is located at the foot of a major interstate/highway redevelopment FORT BEND 69 William COUNTY P. Hobby Galveston To Austin ctors PkwyRo To (I-45) Airport project that will reconstruct US Highway 290 from Interstate 610 to the Grand re w W i 610 h Dacoma Street D ite O Bay ak Dallas W B es a Sam Houston Tollway t y TC o Parkway, with the 610/290 interchange scheduled for completion by 2016. Bend J u e s Gulf Frwy te Armand r Long Point Road B Bayou ou lev Park Northwest Mall possesses excellent ingress/egress to various destinations Hempstead Highway West 18th Street ard • Fort Silber Road Spring South Frwy Clear around Houston due to the quick connectivity to I-610, US-290, I-10, Northwest Lake Branch Mall The Hempstead Highway, North Post Oak Road, and the Northwest Transit Center. Heights Ella Boulevard Westview Drive • Only a short 6 minute drive time to the Galleria/Uptown District. Antoine Drive Smithers North Post Oak Road ±51.75 Acres Lake • The Property benefits from a strong demographic base with a growing West 11th Street GALVESTON population and a 3-mile household income of $96,490. COUNTY BRAZORIA Proposed Grand Pkwy To San Antonio COUNTY • Located near the Heights, which has become one of Houston’s most popular Old Katy Road neighborhoods for young professionals and families alike due to high To Downtown Houston Me mo walkability and nearby amenities. ria l D r iv e • Townhome development near the site has increased the rate of gentrification as well as removed many of the outdated housing units. Memorial Memorial Park • Multi-family projects have maintained popularity with current rents in the 610 area ranging from $1.40-$2.50 PSF. Wood wa C y Memorial Park • Houston is one of the strongest economies in the nation with thriving energy, Drive h i m n e y financial, manufacturing, medical, and shipping industries. R S o o c u k t S h R ag P o a o e d s t R O o ad a u k o d y a Galleria/L B a o a uff R alo n B k Uptown Districte ic w lo l i W d r a v e l u o B San Felipe Street k a O 1 t ±51.75 Acres | Houston, TX s o P HIGHWAY 290 REDEVELOPMENT Hempstead Highway From 290 Managed Lane Exit Hempstead Highway From I-610 Exit Dacoma W. 18th Street Spring Branch The Heights From I-10 Exit W. 18th St. From I-610 Exit W. 12th/Minimax/W. 18th St. Ingress Egress Galleria 2 ±51.75 Acres | Houston, TX AREA OVERVIEW HISD Athletic Complex Money ranked the Heights as the 4th best big city neighborhood in the nation. The neighborhood has seen home prices skyrocket over the past five years and many homes now sell in the $500,000 to $1 million range. Spring Branch Located west of the Property, the Spring Branch area encompasses a variety of housing options targeting at different income levels. Spring Branch is in the process of gentrification and has increased in popularity due to proximity to Interstate 10. Additionally, the Spring Branch area offers strong employment and retail options with quick access to the Energy Corridor and downtown as well as Memorial City Mall, City Centre, and the Marq*E Center. The neighborhood benefits from being zoned to the Spring Branch Independent School District and some portions of the area are zoned to Memorial High School, which many consider to be one of the Located directly north of the Property is the Houston Independent School best public high schools in Houston. Developers are actively constructing District’s athletic complex. The $44.7 million Delmar Fieldhouse is currently single-family patio and townhomes on the sites of dilapidate housing and under construction and projected to be finished by the 3Q 2015. The three- former warehouses. Nearby new homes such as the Ravenna community story, 139,000 square foot complex will include basketball and volleyball range in price from $800,000 to $1.2 million. areas, as well as new training rooms, athletic storage, and a balcony that overlooks the football stadium. The Heights The Heights is one of Houston’s most popular neighborhoods. The area offers residents an urban, walkable community, with a unique neighborhood vibe. Located inside of Interstate 610 and bound- ed by Interstate 10 to the south and Interstate 45 to the east, the Heights is minutes away from downtown with excellent connectivity to Houston’s other major centers of employment. I n 2 0 13 , CNN 3±51.75 Acres | Houston, TX ±51.75 Acres | Houston, TX AREA OVERVIEW Galleria Located in close proximity to this Property is the Galleria/Uptown District which is Houston’s most dynamic, urban mixed-use, pedestrian- friendly environment — densely populated with Class A office space, luxury retail, and affluent residences. It is Houston’s third largest employ- ment center and the 15th largest business district in the US with more than 23 million SF of office space, 2,000 multi-national companies, and 80,000 employees. There is more than five million square feet of upscale retail in the district, which is the largest concentration in the city. As the premier dining and entertainment area of Houston, it is home to over 100 restaurants, including four of the seven AAA ranked “4 Diamond Restaurants” in the city. Memorial Park Memorial Park is one of the largest urban parks in the nation at approximately 1,500 acres (nearly double the acreage of Central Park in New York City) with an estimated value of $1 billion and one of Houston’s best natural assets. The Park includes the 600 acre Memorial Park Golf Course, the 155 acre Houston Arboretum, a three-mile, lighted jogging and exercising trail, multi-use trails, and a variety of sporting fields. Memorial Park is a Houstonian icon and consistently attracts joggers, golfers, and nature enthusiasts alike. 4±51.75 Acres | Houston, TX ±51.75 Acres | Houston, TX DRIVE TIME MAP Bush Future Grand Parkway Interncontinental 25 Minutes Airport 23 Minutes Beltway 8 10 Minutes 51.75 Acres Energy Corrdior HEB 11 Minutes 4 Minutes Memorial TIMES PRIOR TO HIGHWAY EXPANSION Park TO MINUTES MILES Downtown 4 Minutes BUSH INTERCONTINENTAL 23 21.5 Houston AIRPORT 10 Minutes Galleria BELTWAY 8 10 8 6 Minutes FUTURE GRAND PARKWAY 25 23.5 GROCERY STORE (HEB) 4 1.5 ENERGY CORRIDOR 11 9 DOWNTOWN 10 8 GALLERIA 6 4 MEMORIAL PARK 4 2.5 5 ±51.75 Acres | Houston, TX - SITE PLAN HOUSTON ON THE RISE US 290 FRONTAGEHighway HOUSTON JUMPS TO #2 IN EMERGING TRENDS FOR WEST 18TH STREET Expansion TOP REAL ESTATE MARKETS FOR 2014 HOUSTON IMPROVES AFIRE RANKING AFTER MAKING LIST IN 2013 Future Curb Cut MANGUM ROAD GLOBAL SNAPSHOT TOP GLOBAL CITIES 1) London (#2 last year) 2) New York (#1 last year) 3) San Francisco (#3 last year) HEMPSTEAD ROAD 4) HOUSTON (#5 LAST YEAR) 5) Los Angeles (#14 last year) U.S. SNAPSHOT N. POST OAK ROAD TOP FIVE U.S. CITIES Traffic Counts 1) New York (#1 last year) 2) San Francisco (#2 last year) Daily Traffic Counts Year 2012 3) HOUSTON (#4 LAST YEAR) I-610 293,000 4) Washington, D.C. (#3 last year) 5) Los Angeles (#6 last year) US-290 286,417 Hempstead Road 23,366 HOUSTON OUTPERFORMED TRADITIONAL "GATEWAY" West 18th Street 17,469 MARKETS IN 2013 IN NCREIF'S TOP 10 TOTAL ANNUAL RETURN RANKING Source: KSS Fuels 1 YEAR 10 YEAR RANK MARKET CAGR RANK MARKET CAGR 1 CA - Napa 18.7% 1 TX - Houston 11.3% Demographics 2 SC - Columbia 18.2% 2 WA - Tacoma 10.9% 1-Mile 3-Mile 5-Mile 3 IN - Gary 17.6% 3 NH - Rockingham County 10.9% 4 NY - Albany 17.1% 4 CA - San Francisco 10.5% 2014 Population 5,331 112,190 379,864 5 NJ - Trenton 16.4% 5 CA - San Jose 10.5% 2019 Projections 6,004 119,700 403,919 6 TX - Houston 16.4%
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