Galleria / Greenway Market Office Lease Options
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GALLERIA / GREENWAY MARKET OFFICE LEASE OPTIONS Prepared for: DOW Healthcare May 2, 2016 Prepared by: KYLE WHITNEY, Associate 713.231.1641 [email protected] 5/2/2016 Copyrighted report licensed to Transwestern - 711588. Page 1 1 2700 Post Oak Blvd - Galleria Tower I - The Galleria Location: Galleria Tower I Building Type: Class A Office/(Super Regional Mall) West Loop Cluster Galleria/Uptown Submarket Status: Built Jun 1974, Renov Dec 2003 Harris County Stories: 25 Houston, TX 77056 RBA: 493,456 SF Typical Floor: 19,738 SF Developer: Gerald D. Hines Interests Total Avail: 228,680 SF % Leased: 53.7% Management: Unilev Management Corp. Recorded Owner: - Expenses: 2016 Tax @ $3.25/sf; 2016 Est Ops @ $10.15/sf Parcel Number: 0451400040103, 1205380000004 Parking: Reserved Spaces @ $85.00/mo; Covered Spaces @ $50.00/mo; Ratio of 3.00/1,000 SF Amenities: Banking, Controlled Access, Energy Star Labeled, Fitness Center, Food Service, On Site Management, Restaurant, Security System Floor SF Avail Floor Contig Bldg Contig Rent/SF/Yr + Svs Occupancy Term Type P 3rd / Suite 350 2,575 2,575 2,575 $23.00/nnn Vacant Negotiable Direct P 6th / Suite 625 5,448 5,448 5,448 $23.00/nnn Vacant Negotiable Direct E 8th / Suite 800 19,968 19,968 19,968 $23.00/nnn Vacant Negotiable Direct P 10th / Suite 1030 6,831 6,831 6,831 $23.00/nnn Vacant Negotiable Direct P 10th / Suite 1050 3,770 3,770 3,770 $23.00/nnn Vacant Negotiable Direct P 11th / Suite 1175 1,598 1,598 1,598 $23.00/nnn Vacant Negotiable Direct P 12th / Suite 1220 3,361 3,361 3,361 $23.00/nnn Vacant Negotiable Direct P 13th / Suite 1300 4,204 4,204 4,204 $23.00/nnn Vacant Negotiable Direct P 13th / Suite 1350 3,603 3,603 3,603 $23.00/nnn Vacant Negotiable Direct P 14th / Suite 1425 4,100 6,294 6,294 $23.00/nnn Vacant Negotiable Direct P 14th / Suite 1440 2,194 6,294 6,294 $23.00/nnn Vacant Negotiable Direct 5/2/2016 Copyrighted report licensed to Transwestern - 711588. Page 2 2 5051 Westheimer Rd - Galleria Tower II - The Galleria Location: Galleria Tower II Building Type: Class A Office/(Super Regional Mall) West Loop Cluster Galleria/Uptown Submarket Status: Built 1969 Harris County Stories: 21 Houston, TX 77056 RBA: 320,687 SF Typical Floor: 15,270 SF Developer: Gerald D. Hines Interests Total Avail: 118,300 SF % Leased: 93.5% Management: Unilev Management Corp. Recorded Owner: Three Galleria Office Buildings LLC Expenses: 2015 Tax @ $3.38/sf; 2015 Est Ops @ $9.61/sf Parcel Number: 1205380000003 Parking: Covered Spaces @ $50.00/mo; Reserved Spaces @ $85.00/mo; Ratio of 3.50/1,000 SF Amenities: Banking, Bus Line, Controlled Access, Fitness Center, Food Service, On Site Management, Property Manager on Site, Restaurant, Security System Floor SF Avail Floor Contig Bldg Contig Rent/SF/Yr + Svs Occupancy Term Type P 3rd / Suite 350 4,578 10,683 10,683 $19.00/nnn Vacant 3-10 yrs Direct P 3rd / Suite 350 6,105 10,683 10,683 $16.00/nnn Vacant 3-10 yrs Direct P 4th / Suite 430 5,350 7,346 7,346 $16.00/nnn Vacant 3-10 yrs Direct P 4th / Suite 475 1,996 7,346 7,346 $16.00/nnn Vacant 3-10 yrs Direct P 5th 10,000 10,000 10,000 $10.00/nnn Vacant Thru May 2017 Sublet E 6th 16,043 16,043 32,156 $19.00/nnn 01/2017 3-10 yrs Direct E 7th 16,113 16,113 32,156 $19.00/nnn 01/2017 3-10 yrs Direct E 8th 16,031 16,031 31,673 $18.50/nnn Vacant Thru Mar 2022 Sublet E 9th 15,642 15,642 31,673 $18.50/nnn Vacant Thru Mar 2022 Sublet P 16th 7,873 7,873 7,873 $16.50/nnn Negotiable Thru Dec 2019 Sublet E 17th 15,879 15,879 15,879 $16.50/nnn Negotiable Thru Dec 2019 Sublet 5/2/2016 Copyrighted report licensed to Transwestern - 711588. Page 4 GALLERIA TOWER II 5051 WESTHEIMER CLASS “A” OFFICE SUBLEASE 23,725 RSF SUBLEASE PRESTIGIOUS LOCATION LEVEL 17- 15,879 RSF (FULL FLOOR) LEVEL 16- 7,873 RSF (PARTIAL FLOOR) LEASEHOLD FEATURES • Excellent Views • Recently constructed • Multiple kitchens and employee break rooms • IT/Work room • Highly efficient open and closed space • Multiple Conference Rooms • Furniture negotiable SPACE DETAILS PREMISES Level 17- 15,879 RSF (Full Floor) Level 16- 7,873 RSF (Partial Floor) TERM December 31, 2019 OCCUPANCY Negotiable INITIAL RENTAL $16.50/ RSF “Net” RATE 2015 OPEX $13.00- 2015 Estimate 3.5/1,000 RSF Leased PARKING 4 Reserved Spaces Available For more information, please contact: SCOTT WEGMANN GEORGE W. “TREY” STRAKE, III COURTNEY ESTENSON WALKER CUSHMAN & WAKEFIELD, INC. Vice Chairman Vice Chairman Director Licensed Real Estate Brokers (713) 877 8261 (713) 877-8307 (713) 963-2845 1330 Post Oak Boulevard, Suite 2700 [email protected] [email protected] [email protected] Houston, Texas 77056-3054 www.cushmanwakefield.com The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) Water Wall Photo: © Greater Houston Convention & Visitors Bureau GALLERIA TOWER II 22,591 RSF SUBLEASE Class “A” Galleria Sublease AVAILABLE RECEPTION DESK SEATING AREA LARGE WINDOW OFFICE CONFERENCE ROOM For more information, please contact: SCOTT WEGMANN GEORGE W. “TREY” STRAKE, III COURTNEY ESTENSON WALKER CUSHMAN & WAKEFIELD, INC. Vice Chairman Vice Chairman Director Licensed Real Estate Brokers (713) 877 8261 (713) 877-8307 (713) 963-2845 1330 Post Oak Boulevard, Suite 2700 [email protected] [email protected] [email protected] Houston, Texas 77056-3054 www.cushmanwakefield.com The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) GALLERIA TOWER II 22,591 RSF SUBLEASE Class “A” Galleria Sublease AVAILABLE KITCHEN AREA/BREAKROOM KITCHEN AREA/BREAKROOM WITH AMPLE SEATING OPEN LAYOUT SMALL WINDOW OFFICE For more information, please contact: SCOTT WEGMANN GEORGE W. “TREY” STRAKE, III COURTNEY ESTENSON WALKER CUSHMAN & WAKEFIELD, INC. Vice Chairman Vice Chairman Director Licensed Real Estate Brokers (713) 877 8261 (713) 877-8307 (713) 963-2845 1330 Post Oak Boulevard, Suite 2700 [email protected] [email protected] [email protected] Houston, Texas 77056-3054 www.cushmanwakefield.com The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W’s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.) GALLERIA TOWER II 22,591 RSF SUBLEASE Class “A” Galleria Sublease AVAILABLE LEVEL 16 – 7,873 RSF For more information, please contact: SCOTT WEGMANN GEORGE W. “TREY” STRAKE, III COURTNEY ESTENSON WALKER CUSHMAN & WAKEFIELD, INC. Vice Chairman Vice Chairman Director Licensed Real Estate Brokers (713) 877 8261 (713) 877-8307 (713) 963-2845 1330 Post Oak Boulevard, Suite 2700 [email protected] [email protected] [email protected] Houston, Texas 77056-3054 www.cushmanwakefield.com The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield’s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client.