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Grand Cay Harbour GRAND CAY HARBOUR David Kendall Senior Advisor 561.723.8463 [email protected] Tony Roubik #319384 Managing Director 713.858.1144 [email protected] SVN | FLORIDA COMMERCIAL REAL ESTATE ADVISORS | 810 SATURN STREET, #24, JUPITER, FL 33477 OFFERING MEMORANDUM PROPERTY INFORMATION 3 Property Summary Property Description Complete Highlights LOCATION INFORMATION 7 Aerial Retailer Map Nearby Marinas Major Employers Regional Map Site Plan DEMOGRAPHICS 14 Demographics Map ADDITIONAL INFORMATION 16 MARINA TRACT Grand Cay Harbour Levee Additional Photos Utilities GRAND CAY HARBOUR | TEXAS CITY, TX 77590 OFFERING MEMORANDUM 1 PROPERTY INFORMATION Texas City, TX GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 3 Property Description PROPERTY OVERVIEW Along a well protected portion of Galveston Bay shoreline, fronting some of Texas' premier seaways with verdant nearby wildlife preserves, a new coastal village is taking shape. With panoramic views in every direction and superb direct water access to the Gulf of Mexico, Grand Cay Harbour is a boater’s and bay lover’s paradise. The Gulf of Mexico is only minutes away by boat via the Galveston Bay Entrance. This 55 acre development site is permitted for a deep water marina with approximately 300 wet slips. The remaining upland can be developed with fairly liberal zoning usage. Adjacent to this tract, David Weekley Homes is currently building homes in the $350 - $900k price range. Some potential uses for this property include construction of a marina, dry boat storage facility, restaurant(s), hotel, 3-story apartment project, townhomes, mid-rise condos, or a resort type use. The property is protected from storm surge via a 23' flood levee with a control gate that provides access to Galveston Bay and the Gulf of Mexico. The Marina entrance is located just inside the steel Tide Gate, which is lowered prior to a hurricane, protecting the area from potential storm surge. No hurricane flood damage has occurred inside the levee since it was constructed in 1963. The levee surrounds 36 square miles, including the entire development parcel, and protects Texas City from flood risks due to storm surge. The levee can withstand up to a 23' storm surge, making this a safe harbor for boaters and an ideal location for a working marina. LOCATION OVERVIEW Grand Cay Harbour is located on Skyline Drive adjacent to Galveston Bay, Moses Lake and Dollar Bay in Texas City, Galveston County, Texas. Located on the southwest shoreline of Galveston Bay, Texas City is a busy deepwater port on Texas' Gulf Coast, as well as a petroleum refining and petrochemical manufacturing center. According to the 2010 census, Texas City is the third-largest city in Galveston County. GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 4 Complete Highlights SALE HIGHLIGHTS • 54.99 +/- acre Marina & Mixed Use development • Entitlements in place • Designed for 300 wet slip marina • Townhome/Condo lots • Commercial development • USACE Permits are already approved • Potential uses include: Marina, Dry Boat Storage, Restaurant(s), Resort, Hotel, 3-story Apartment Project, Townhomes, and/or Mid-rise Condo • This is a safe harbor located inside of a protected levee that can withstand 23' storm surge • No flooding has occurred in the area since the levee was installed over 60 years ago • Access to Galveston Bay & Gulf of Mexico via Moses Lake Tide Gate that has a 56' clearance width and a 51' clearance height • Adjacent to custom waterfront residences built by David Weekly Homes in the $350-$900k price range. • Mitigated wetlands, ready to build • Utility service for city sewer, city water, & 3 phase electrical already in place • Flexible site configuration can emphasize upland or marina basin depending on developers vision • Ask about Edward's Point, a 15.7 acre tract surrounded almost entirely by open water views for sale via separate agreement. Ideal location for private estate or several high end custom waterfront homes. GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 5 Property Summary OFFERING SUMMARY PROPERTY HIGHLIGHTS Sale Price: $3,300,000 • 54.99 +/- acre Marina & Mixed Use development • Designed for 300 wet slip marina Lot Size: 54.99 +/- Acres • Townhome/Condo lots • Commercial development Zoning: Marina, Commercial, Mixed Use, M/F • USACE Permits are already approved • Potential uses include: Marina, Dry Boat Storage, Restaurant(s), Resort, Hotel, MF, Townhomes, and/or Mid-rise Condo Market: Houston • Safe Harbor located inside protected levee that can withstand 23' storm surge • Only marina site in Galveston Bay with hurricane surge and flood protection Submarket: Texas City • Access to Galveston Bay & Gulf of Mexico Price / SF: $1.38 SF • Adjacent to upscale waterfront residences built by David Weekly Homes • Flexible development plan Price / Acre: $60,010.91 GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 6 2 LOCATION INFORMATION Texas City, TX GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 7 Aerial GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 8 Retailer Map GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 9 Nearby Marinas GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 10 Major Employers GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 11 Regional Map Grand Cay Harbour GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 12 Site Plan GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 13 3 DEMOGRAPHICS _ Texas City, TX GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 14 Demographics Map POPULATION 5 MILES 15 MILES 30 MILES Total population 41,379 286,137 1,229,849 Median age 36.1 36.8 33.4 Median age (male) 35.7 36.1 32.8 Median age (Female) 36.5 37.4 34.1 HOUSEHOLDS & INCOME 5 MILES 15 MILES 30 MILES Total households 15,035 110,607 423,629 # of persons per HH 2.8 2.6 2.9 Average HH income $59,605 $71,025 $69,750 Average house value $111,180 $179,381 $142,964 * Demographic data derived from 2010 US Census GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 15 4 ADDITIONAL INFORMATION _ Texas City, TX GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 16 Conceptual Marina Site GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 17 GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 18 Levee GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 19 GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 20 Utilities 3-Phase Overhead Power 8” Waterline In Casing 6” San Sew Forcemain In Casing GRAND CAY HARBOUR | _ TEXAS CITY, TX SVN | Florida Commercial Real Estate Advisors | Page 21 David Kendall Senior Advisor SVN | Florida Commercial Real Estate Advisors David is a CRE professional specializing in the sale, development, & acquisition of marine facilities. David has over 18 years of experience in Real Estate Brokerage & Finance. David has a Bachelor of Science in Finance from Florida State University, and is a licensed Florida Real Estate Broker, pursuing his CCIM designation for Commercial Real Estate Investment. Over $100 MM in Real Estate transactions credited to his name, David is a successful negotiator who’s skills include Commercial Real Estate Valuation, Financial Analysis, Leasing, Portfolio Management, Sales, & Marketing. David has experienced multiple economic and property market cycles, through downturn and improvement, continually evolving and improving f o r the benefit of his clients. David has worked with both private as well as institutional investors to acquire and manage Real Estate investments. David lives in Palm Beach County where he enjoys boating, the outdoors, and spending time Phone: 561.723.8463 with his family. David has multiple clients who rely on his professional expertise to help guide them with their CRE investments, from acquisition Cell: through disposition, “I am extremely adept at valuing and identifying investment opportunities in underserved areas where my experience can help Email: [email protected] create desired returns for my clients”. 810 Saturn Street, #24 With a focus on commercial waterfront, David has established himself as a knowledgeable resource f o r marina owners, operators, private equity Jupiter, FL 33477 groups, & developers, with whom he consults with on a regular basis. With SVN's tools and services, David has access to one of the largest Commercial Real Estate networks in the nation. Tony Roubik Managing Director SVN | AVR Commercial Real Estate Services T o n y Roubik serves as a Managing Director fo r SVN, specializing in the sale of office, industrial, multi-family, self storage, and retail properties in Houston, Texas. With more than 30 years of experience, he enjoys the challenges that come with each new assignment and appreciates the privilege of establishing a successful professional relationship with each new client. By adopting an operating philosophy of "sharing the wealth" in order to bring together whatever team of experts might be needed to complete any given project, T o n y has developed a reputation fo r delivering superb results regardless of the nature of the client need. As a result, over the last 30+ years he has been involved in a remarkable range of sales, leasing, exchange, development, management, and consulting assignments that have allowed him to develop an unusually broad perspective on the commercial real estate business.
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