Redevelopment Opportunity > ±8.0 Acres
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FOR SALE Redevelopment Opportunity > ±8.0 Acres 24610 FRANZ ROAD KATY, TEXAS 77493 JASON SCHOLTZ BLAKE GIBSON 832 683 0004 713 830 2173 [email protected] [email protected] THE OPPORTUNITY • Located in the highly desirable suburb of Katy, Texas • Significant opportunity for redevelopment • Potential sale/leaseback opportunity • ±1 mile to the Grand Parkway/Highway 99 • ±1.5 miles to Interstate 10 • ±400’ frontage on Franz Road • Outside of Houston and Katy city limits • No zoning • Outside the 100-year and 500-year flood plains • Daily traffic counts of ±17,000 cars per day 24610 FRANZ ROAD, KATY TEXAS LOCATION 24610 Franz Road is conveniently located about a mile from the Grand Parkway/Highway 99 and approximately 1.5 miles from heavily-traveled Interstate 10, making it an excellent location in reaching both Katy and Houston residents. Since the Grand Parkway’s recent outer loop expansion, area residents have increased access to and from points north 24610 FRANZ RD (Kingwood, The Woodlands) and south (Sugar Land). HOUSTON Additionally, the site is only about 10 minutes north of the Westpark Tollway, which provides access to the Beltway 8/Sam Houston Tollway area (Westchase), Interstate 59, and Houston’s Galleria/Uptown District. 24610 FRANZ RD 24610 FRANZ ROAD, KATY TEXAS PROPERTY IMPROVEMENTS Existing improvements on-site include a ±9,000-SF crane-served warehouse and a freestanding ±800-SF supervisor’s office that overlooks the yard. Most of the property is stabilized with either concrete paving or crushed aggregate material. The warehouse features: • Approximately 9,000 SF • Four 14’ x 16’ drive-through overhead doors • 17’ – 18’ clear height • 3-ton crane • ±1,000-SF, two-story office • Mezzanine storage area Katy Mills Mall Typhoon Texas Waterpark KATY, TEXAS > DEMOGRAPHICS Vicinity of 24610 Franz Rd Key Variables 1-Mile 3-Mile 5-Mile Projected Population (2023) 15,429 75,357 214,611 ABOUT KATY, TEXAS Katy is a city within the Houston-Katy-Woodlands-Sugar Land Estimated Population (2018) 13,887 67,039 190,847 metropolitan area, located in Harris, Fort Bend and Waller counties. The city has been experiencing robust growth, Projected Households (2023) 4,386 26,307 69,269 increasing about 5% annually. With its population larger than that of Pittsburgh, PA, Katy’s growth increased by 84% between 2000 Estimated Households (2018) 4,081 24,297 63,229 and 2010. It is projected that by the Year 2022, the Katy area will have over 391,000 residents. Growth has been fueled by Katy’s Projected Avg. Household Income (2023) $110,543 $100,419 $117,283 acclaimed schools; new, quality master-planned communities; and a strong economy. Estimated Avg. Household Income (2018) $99,296 $90,431 $106,369 Sources: Sites USA, Costar The demographics of Katy display a strong income base with high educational attainment. The average household income in the greater Katy area is approximately $127,335, and is projected to Traffic Counts AADT increase to $147,821 by 2022. Over 44% of the city’s population have bachelor’s degrees or higher. Grand Pkwy/Hwy 99 North of I-10 35,381 * Katy’s economy is thriving, and due to its growth over various Grand Pkwy/Hwy 99 South of I-10 41,255 ** business sectors, has been recognized as one of the most recession-resistant economies in the U.S. The area’s economy Interstate 10 West of Grand Pkwy/Hwy 99 151,937 has generated over $21 billion in sales, and includes almost 11,000 companies, including over 200 headquartered there. Leading Katy Fort Bend Rd South of Franz Rd 17,439 employers include ConocoPhillips, Academy Sports and Outdoors, BP, GEICO, Schlumberger, Shell, and Katy Independent School Franz Rd West of Grand Pkwy/Hwy 99 16,102 District. Katy’s rapidly-growing employment base has also included numerous healthcare and technology industries. Multiple * Tolled mainlane traffic only office and light industrial buildings are currently under construction ** Non-tolled service road only to support the expanding employment growth. Source: TX DOT 2016 Katy Mills Mall Johnston Field at Rhodes Stadium Legacy Stadium Typhoon Texas Waterpark THE KATY AREA Katy’s attractive business environment and numerous amenities and attractions make for a highly- EMPLOYMENT desirable location in which to live and work. Due to its diverse mix of employment opportunities spanning energy, education, manufacturing, petrochemical, medical and government, Katy is often referred to as one of the most recession-proof economies in the U.S. Top 10 Employers 24610 FRANZ RD Employer # of Industry Jobs Katy Independent School District 9,185 Education Shell Exploration & Production 6,500 HQ – Oil & Gas HQ – Engineering, Wood Group Subsidiaries 5,000 Oil & Gas BP North America 5,100 HQ – Oil & Gas Katy Mills Mall – Simon Retail – Stores & Group 3,500 Offices Academy Sports & HQ – Distribution Outdoors 2,800 Center Houston Methodist West 2,000 Hospital Retail – Stores & La Centerra – Cinco Ranch 1,700 Offices HQ – Distribution & Igloo 1,550 Manufacturing ConocoPhillips 1,400 HQ – Oil & Gas Source: Katy Area Economic Development Council www.katyedc.org Source: Katy Area Economic Development Council , 2017 KATY DEMAND DRIVERS Master-Planned Communities Explosive Growth Katy is home to some of the country’s top-selling master-planned Over the last year, several major employers have either relocated communities. and/or expanded to the Katy/West Houston area: • Shell: Relocated over 3,400 employees from downtown Community Community Houston to its Shell Technology Center and Woodcreek campus Cinco Ranch Bridgeland • Goya Foods: Expanded its existing 380,000-SF facility to Grayson Lakes Cross Creek Ranch 704,000 SF • Amazon: Built a new 1,000,000-SF fulfillment center, creating Firethorne Grand Lakes 1,000 new full-time jobs Jordan Ranch Cane Island Rankings and Accolades Woodcreek Reserve Falcon Ranch In the past few years, Katy has earned numerous accolades including: • Katy named fourth best place to start a business in Texas • Katy area ranks No. 1 in the U.S. for top high-growth areas • Katy named in “Top 10 Affordable Towns with Best High Schools” list by Realtor.com • Cinco Ranch named second best Texas suburb by Niche • Katy named smartest city in Texas • Katy area neighborhoods make nation’s Top Selling list • Katy area wins three “Best Senior Living” awards TAMARRON • Relocation America rates Katy among “Top 100 Places to Live” Source: Katy Area Economic Development Council www.katyedc.org FOR SALE 24610 Franz Road KATY, TEXAS 77493 Contact Advisors for Pricing Information JASON SCHOLTZ 832 683 0004 [email protected] BLAKE GIBSON 713 830 2173 [email protected] COLLIERS INTERNATIONAL | 1233 W. Loop South, Suite 900 | Houston, Texas 77027 | 713 222 2111 | www.colliers.com/texas This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2016. All rights reserved. 11-2-2015 Information About Brokerage Services Texas law requires all real estate license holders to give the following informaƟon about brokerage services to prospecƟve buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: . • A BROKER is responsible for all brokerage acƟviƟes, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material informaƟon about the property or transacƟon received by the broker; • Answer the client’s quesƟons and present any oīer to or counter-oīer from the client; and • Treat all parƟes to a real estate transacƟon honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a wriƩen lisƟng to sell or property management agreement. An owner's agent must perform the broker’s minimum duƟes above and must inform the owner of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent or subagent by the buyer or buyer’s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a wriƩen representaƟon agreement. A buyer's agent must perform the broker’s minimum duƟes above and must inform the buyer of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent by the seller or seller’s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parƟes the broker must Įrst obtain the wriƩen agreement of each party to the transacƟon. The wriƩen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaƟons as an intermediary. A broker who acts as an intermediary: • Must treat all parƟes to the transacƟon imparƟally and fairly; • May, with the parƟes' wriƩen consent, appoint a diīerent license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instrucƟons of each party to the transacƟon.