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S H O P P I N G C E N T INVESTMENT OPPORTUNITY HighlandSHOPPING CENTERKnolls IH 10 | KATY FREEWAY HSHOPPINGighland CENTEKnollsR MASON RD | 35,674 VPD ® HIGHLAND KNOLLS DR | 20,079 VPD HighlandSHOPPING CENTERKnolls • 98% Leased Grocery Anchored Asset Located in the Explosive Area of West Houston • Excellent Demographics | Since 2000, the Surrounding Area Added 152,428 New Residents, an Increase of 144% within a Five-Mile Radius | Average Household Incomes within a Three-Mile Radius are Over $130,000 • Quality Tenancy | Outstanding Mix of National and Regional Tenants • Outstanding Tenant Retention History | 5-Year Average Occupancy of 97%, Outpacing the Submarket Occupancy of 95.1% • Stabilized Asset with Contractual NOI Growth | 5 of the 13 Tenants Have Contractual Rental Increases Throughout Lease Term • Close Proximity to Cinco Ranch Master-Planned Community | Most Active Community for Home Building in the United States for the Past 3 Years • One of the Top School Districts in the Houston Area | Katy ISD has Received a “Recognized” Rating by Texas Education Agency | 60 Schools in the Area, including Seven Four-Year High Schools 3 HighlandSHOPPING CENTERKnolls PROPERTY Highland Knolls Shopping Center 1525-1565 S Mason Road Houston, TX 77450 LOCATION NEC of Highland Knolls Drive & S Mason Road OCCUPANCY 97.7% STORIES 1 PARKING 432 Spaces (5.06/1,000 SF) YEAR BUILT 1998 TOTAL GLA 85,269 Square Feet LAND SIZE ±9.267 Acres DEBT Assumable PRICE Click Here to Sign a Confidentiality Agreement CAP RATE Click Here to Sign a Confidentiality Agreement YEAR 1 NOI Click Here to Sign a Confidentiality Agreement 4 HighlandSHOPPING CENTERKnolls Tenant SF AT&T 2,925 TF Supplements 1,120 Randall’s s C&J Jewelry 960 Gas e y oga Y Dahn Yoga & Health 975 &T AT 960 sf 975 sf eahous Jewelr 2,925 sf 1,120 sf 1,300 sf 2,600 sf T Dahn My Fit Foods Kim's Tea House 1,300 Supplement My Fit Foods 2,600 Randall's 62,189 TGF Haircutters 1,600 La Beaute Nail Salon 1,200 Parcel Plus 1,200 State Farm 1,600 62,189 sf Diabetes America 4,000 Vacant Suite 2,000 Pacific Dental 3,600 Total Square Feet 87,269 MASON ROAD | 35,674 VPD TGF Haircutters 1,600 sf Nails 1,200 sf Parcel Plus 1,200 sf State Farm 1,600 sf Diabetes Amer. 4,000 sf Vacant 2,000 sf Pacific Dental 3,600 sf HIGHLAND KNOLLS DRIVE | 20,079 VPD 5 HighlandSHOPPING CENTERKnolls TENANT PROFILES Tenant: Randall’s Parent Company: ABS Tenant: Diabetes America, Inc. Parent Company: N/A Square Feet: 62,389 Public/Private: Public Square Feet: 4,000 Public/Private: Private Ticker Symbol: ABS 2015 YE Revenue (ABS): $57.49 Billion Ticker Symbol: N/A 2015 YE Revenue: N/A S&P Rating (ABS): B+ Website: www.randalls.com S&P Rating: N/A Website: www.diabetesamerica.com Randall’s Food Markets was founded in 1966 and operates 44 supermarkets in the Diabetes America, Inc. operates a network of diabetes care centers in Texas. It provides Houston and Austin areas under the Randalls and Flagship Randalls banners. Ran- specialized diabetes medical care, personalized diabetes education, nutrition coach- dall’s today is part of the Houston division of Albertsons and is headquartered in the ing/weight management, lifestyle instruction and exercise, and labs and diagnostic Westchase District of Houston. Most Randall’s Food Markets include seafood, flo- testing services to patients; and employer/health plans. The company also offers a ral, cosmetic, bakery, and film processing departments. The premium stores have in- DietIQ, a weight management program. Diabetes America, Inc. was formerly known as creased their take-out departments to provide fresh pizzas, pastas, and barbeque. Diabetes Centers of America, Inc. and changed its name to Diabetes America, Inc. in June 2004. The company was founded in 2004 and is based in Houston, Texas. It has In 2015, Randall’s parent company, AB Acquisition LLC, completed a transaction with locations in Houston, Humble, Katy, Pasadena, Pearland, Sugar Land, Shenandoah, Safeway that included Randalls stores. Albertson’s, the current parent company, is Dallas/Ft. Worth, Arlington, Irving, Plano, and San Antonio, Texas. one of the largest food and drug retailers in the United States, with both a strong local presence and national scale. They operate 2,200+ stores across 33 states and the District of Columbia under 18 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, ACME Markets, Tom Thumb, Randalls, United Supermar- kets, Pavillions, Star Market and Carrs. They employ approximately 265,000 people Tenant: Pacific Dental Services, Inc. Parent Company: N/A nationwide and trade over the New York Stock Exchange under the ticker: (ABS). Square Feet: 3,600 Public/Private: Private Ticker Symbol: N/A 2015 Revenue: N/A S&P Rating: N/A Website: www.pacificdentalservices.com Pacific Dental Services, Inc., a dental support company, provides supported autonomy services that allow dentists to concentrate on clinical excellence and patient care. Pacific Dental Services, Inc. has strategic partnerships with 3M – ESPE; Alliance Data; American Orthodontics; CDI; DDS Lab; Dentsply; Henry Schein; Ivoclar Vivadent; Kavo Kerr Group; Nobel Biocare; P&G; Patterson Dental; Posca Brothers; QSI; Sirona Dental Systems, Inc.; and Ultradent. The company was founded in 1994 and is headquartered in Irvine, California. It has supported dental offices across the Western, Central, and Southeastern United States. PDS currently has 400 supported offices throughout 14 states and plans to add more than 50 supported offices each year. 6 HighlandSHOPPING CENTERKnolls TENANT PROFILES Tenant: AT&T Parent Company: N/A Square Feet: 2,925 Public/Private: Public Ticker Symbol: T 2015 Revenue: $146.8 Billion S&P Rating: BBB+ Website: www.att.com AT&T Inc. is a communications holding company. The Company, through its subsid- iaries and affiliates, provides local and long-distance phone service, wireless and data communications, internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and pub- lishing. Their 2015 revenue was $146.8 Billion and in 2016 their revenue is projected to reach $167.9 Billion. AT&T’s EBITDA for 2015 was $46.8 Billion while their current market capitalization is $226.6 Billion. Tenant: My Fit Foods Parent Company: N/A Square Feet: 2,600 Public/Private: Private Ticker Symbol: N/A 2013 Revenue: N/A S&P Rating: N/A Website: www.myfitfoods.com My Fit Foods Inc. operates as a private food services company. The Company special- izes in offering healthy and nutritious foods in a restaurant and fast food environment. My Fit Foods provides catering and private event services to schools and communi- ties. It sells products in over 50 locations through its stores in California, Oklahoma, Texas, Arizona, and Illinois. The company also offers products online. My Fit Foods Inc. was founded in 2006 and is based in Austin, Texas. 7 HighlandSHOPPING CENTERKnolls LOCATION SUMMARY Located in close proximity to Houston’s renowned Energy Corridor, an epicenter for major businesses in the city, Katy offers a variety of amenities to its residents and employees, including world-class shopping destinations, dozens of parks and outdoor recreation facilities, and conveniently located business centers. The economy in the Katy Area alone accounts for over $21 million in sales and includes over 11,000 companies with over 200 corporations headquartered in the area. The Katy Area continues to diversify its economy with non-energy related employers. GEICO’s new Houston Claims Center, located in Katy, has hired 600 people and will employ 1,000 people in the next two years. Skybox Datacenter recently opened and will be expanding to have a total of 17,000 square feet and will invest a total of $300,000,000. Grocery-Anchored by Randall’s, one of most dominant grocers in Texas, Highland Knolls Shopping Center is ideally positioned at the intersection of Mason Road and Highland Knolls Drive, directly in the path of Houston’ persistent trend of westward migration. The Property is in the affluent, high-growth residential area of Cinco Ranch, one of the most successful master-planned communities in the country. The 8,092- acre master planned community claimed the top spot as the most active community for home building in the United States for the past 3 years. Cinco Ranch has a total of roughly 7,100 homes, ranking #14 in the state in median household income with $155,255 per year and placing in the 99th percentile of Texas in that category. In addition, the Greater Katy area has seen over 121% growth in population over the past decade, which makes it ones of the fastest growing areas in the nation. Moreover, the Cinco Ranch area of Katy has quickly become one of Houston’s premier and most sought-after suburban addresses. Katy is known for its excellent quality of life, including an award-winning public education system, top-selling residential communities, a talented, well-educated workforce, leading healthcare services and Highland Knolls Shopping Center is positioned in one of the fastest growing markets in its safe community environment, which has a crime rate nearly half that of surrounding the nation just 8 miles southwest of the Energy Corridor—the 4th largest employment areas in Harris County. center in Houston with more than 24 million square feet of office space and over 91,000 employees. 8 HighlandSHOPPING CENTERKnolls LOCATION SUMMARY The property is 15 miles from the Westchase District – the 3rd largest suburban office With over 113% growth in population within a 5-mile radius in the last decade, Highland market with over 16.4 million square feet and 81,000 employees. The area is also Knolls Shopping Center reaps the benefits from a densely populated trade area with home to four major hospitals including Houston Methodist West Hospital, Memorial continuing growth and expansion.
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