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±150 Acres in Montgomery County Corrolla Road, Magnolia, Texas 77354

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±150 Acres in Montgomery County Corrolla Road, Magnolia, Texas 77354 LAKE CONROE CROWN OAKS Grand Lake Estates Golf Course Home Values Up to $765K GRAND LAKE ESTATES DR SKYE RANCH 1,000-acre master planned community Approximately 2,500 residential lots CORROLLA RD STAPLETON RD Timbercreek Stables SUPERIOR RD ±150 ACRES PAL-METTA LN PAL-METTA ±150 Acres in Montgomery County Corrolla Road, Magnolia, Texas 77354 OFFERING MEMORANDUM Contacts, Due Diligence, & Offer Requirements www.dmreland.com David Marshall Becky Hand Dosch Marshall Real Estate Principal Senior Associate 713.955.3120 [email protected] [email protected] 777 Post Oak Blvd O 713-955-3126 O 713-955-3121 Houston, TX 77056 M 713-206-1574 M 918-629-5592 www.dmreland.com Exclusive Representation Tim Dosch Dillon Mills Dosch Marshall Real Estate (DMRE) has been exclusively retained to represent the Seller in the Principal Senior Associate disposition of ±150 acres on Corrolla Road in Mont- [email protected] [email protected] gomery County, Texas 77354 (Property). All inquiries O 713-955-3127 O 713-955-3123 about the Property should be directed to DMRE. M 713-459-8123 M 713-254-3824 Due Diligence Information To access the due diligence information please visit the Property website at: www.dmreland.com Tom Dosch Tripp Rich Principal Analyst [email protected] [email protected] Offer Requirements O 713-955-3125 O 713-955-3124 Offers should be presented in the form of a non-bind- M 713-557-4455 M 936-635-6968 ing Letter of Intent, and should include: • Pricing • Due Diligence and Closing Timeframe • Earnest Money Deposit Clark Dalton Kenneth Danna • Description of Debt/Equity Structure Vice President Analyst • Qualifications to Close [email protected] [email protected] • Development Plans O 713-955-3122 O 713-955-3120 M 832-449-2223 M 713-829-2615 Purchase terms shall require cash to be paid at clos- ing. Offers should be delivered to the attention of Tim Dosch, David Marshall, Tom Dosch, or Becky Hand via fax or email. ±150 ACRES ON CORROLLA RD, MONTGOMERY, TX 2 Property Information www.dmreland.com Property Details LOCATION Corrolla Road, East of Superior Rd, Magnolia, TX 77354 Montgomery, TX: Among the top 10 counties nationwide in percentage growth Since 2009, Montgomery County has seen the fastest job growth in the education and LAT., LONG. 30.260844, -95.622612 health services, trade, transportation and utilities, professional services, leisure and hospital- TOTAL ACRES ±150 Acres ity, and construction industries, according to Texas Workforce Solutions. PARCEL NUMBER 0397-01-00100 Recent and planned developments in the area • Superior Road Bridge is being widened and repaired in summer 2018 LEGAL A0397 - NICHOLS THOS J, TRACT 1, ACRES 150, 11.110000% UDI • Skye Ranch, a master planned community on 1,100 acres, will yield approximately 2,500 residential lots surrounding an existing 18-hole golf course FRONTAGE (APPROX.) 2,550 ft on Corrolla • Development at the intersection of Lone Star Parkway and Hwy. 105 in the city of Mont- PRICE To be decided by market gomery (10 miles from the Property): • A 123,000-square-foot Kroger Marketplace opened in August 2017; the develop- COUNTY Montgomery ment also includes pad sites for Spirit of Texas Bank and Burger King SCHOOL DISTRICT Magnolia Independent School District • H-E-B owns a tract of land on the southeast corner • A $4-million development housing Methodist Primary Care Group and Woodlands FLOODPLAIN None Dermatology Associates broke ground in 2016 and has 20,000 square feet of office MONTGOMERY COUNTY https://montgomerycountymobility.files.wordpress. space THOROUGHFARE PLAN com/2016/01/mctp_adopted_-jan_26_20161.pdf Strong demographics • Over 20% population growth in the past six years • Estimated average household income within a 1-mile radius is over $130,000 2017 Tax Rates • Educated population with over 40% of the population holding a bachelor’s degree or LONE STAR COLLEGE 0.1078 higher MAGNOLIA ISD 1.3795 SUPERIOR RD PAL-METTA LN MONTGOMERY CO ESD 3 0.0981 Timbercreek Stables MONTGOMERY CO HOSPITAL DIST 0.0665 MONTGOMERY COUNTY 0.4667 Total 2.1186 150 2017 Demographics 0-5 mile 0-10 mile 0-15 miles EST. POPULATION 37,877 224,676 521,347 5-YR EST. POPULATION GROWTH 18.00% 17.80% 15.44% CORROLLA RD AVERAGE HOUSEHOLD INCOME $112,908 $123,268 $108,486 MEDIAN VALUE OF OWNER OCCUPIED $288,284 $268,513 $219,909 HOUSING UNITS ±150 ACRES ON CORROLLA RD, MONTGOMERY, TX 3 LAKE CONROE www.dmreland.com CROWN OAKS Home Values Up to $765K Grand Lake Estates Golf Course GRAND LAKE ESTATES Home Values Up to $630K SKYE RANCH 1,000-acre master planned community Approximately 2,500 residential lots CORROLLA RD STAPLETON RD SUPERIOR RD Timbercreek Stables 150 PAL-METTA LN ±150 ACRES ON CORROLLA RD, MONTGOMERY, TX 4 Area Highlights: Montgomery County www.dmreland.com Montgomery Expansion LONE STAR COLLEGE - MONTGOMERY Montgomery Major Employers Although its limits only span 4 square miles, the city of Montgomery has experi- • Conroe ISD • Medical Center Hospital enced its share of development in recent • Hewitt Associates • Montgomery County months—changing the landscape of the • HEB Grocery Co • New Caney ISD historically intimate bedroom community. • Kroger • Wal-Mart Associates Inc. While there were an estimated 750 people • Magnolia ISD • Willis ISD living within the city limits in 2015, there were as many as 44,533 residents living in the 77316 and 77356 zip codes, according to the U.S. Census Bureau. The figures rep- Colleges & Universities resent an increase from the 2010 census, which showed a city population of 621, and Lone Stare College - Montgomery 40,534 in the surrounding zip codes. • Over 14,000 students, the third largest Lone Star campus Montgomery has experienced significant • 365,000 square feet on 210 acres MONTGOMERY COUNTY COURTHOUSE development with most of the new com- • Offers 40 career programs including criminal justice, physical ther- mercial development concentrated along apist assistant, biotechnology, nursing, human services, computer Hwy 105. information technology, management, radiologic technologist and A new Kroger Marketplace with 123,000 more square feet of retail space recently opened • Minutes away from Lone Star College - University Center in the summer of 2017. Shops in the adjoin- ing shopping center include Spirit of Texas Lone Star College Conroe Center Bank and Burger King. A second phase for • Recently opened $6.4 million expansion of the campus’s workforce the property will begin soon after and will training facilities host another big-box store. • Expansion includes advanced machining controllers, an automotive technology classroom and lab, 23 new welding booths and a plas- Heritage Place, a property management ma-cutting machine company, is building a new development that will house offices for the Method- Lone Star College - University Center ist Primary Care Group and Woodlands • Joint educational institution among six public Texas universities Dermatology Associates. The $4-million including University of Houston, University of St. Thomas, and Sam HISTORIC DOWNTOWN MONTGOMERY project broke ground last summer and will Houston State University have 20,000 square feet of office space. • Students earn bachelor’s and master’s degrees, as well as continuing Skye Ranch, a master planned community professional studies on 1,100 acres, will yield approximately 2,500 residential lots surrounding an exist- Sam Houston State University - The Woodlands Campus ing 18-hole golf course. • Offers 20 upper level undergraduate degrees and 16 graduate pro- grams https://communityimpact.com/houston/ conroe-montgomery/news/2017/03/22/ • 144,165-square-foot, 4-story facility development-ramps-montgomery/ • Plans to build College of Osteopathic Medicine to open in 2020 ±150 ACRES ON CORROLLA RD, MONTGOMERY, TX 5 Area Highlights: Montgomery County www.dmreland.com Conroe, Montgomery development to continue in 2016 - Cities implement new services to meet rising demand By Jesse Mendoza While a majority of new development is project expanding FM 149 from FM 1791 found along the city’s eastern borders near to Montgomery will spark revitalization Conroe tops list of fastest growing Posted Jan. 27, 2016; Updated Feb. 16, cities in the nation 2016 Lone Star Parkway and FM 1097, demand within the city’s historic district this year, along the western border is also starting to Reid said. • The U.S. Census Bureau announced Conroe and Montgomery will see com- rise. Shannan Reid, director of the Mont- Additionally, city officials have engaged that Conroe topped the list of the mercial, residential and infrastructure gomery Economic Development Corp., Montgomery County commissioners in fastest growing cities in the nation. development in 2016 as several projects attributes the interest on the city’s west- talks about potential solutions to traf- The city of Conroe population grew are completed or break ground this year. ern edge to growth west of Montgomery, fic congestion throughout the city. One from 76,362 residents in July 2015 such as the development of the Bluejack Major residential developments in Conroe, possible project is the extension of Bois to 82,286 residents in July 2016. National community on FM 1486. such as Grand Central Park, Stillwater D’Arc Bend from Walden Road to Lone Star • Of the top 15 fastest growing cities, and Fosters Ridge, continue to experience “I have had residential and commercial Parkway to give residents of the Walden 10 cities were located in the south growth as the housing market expands. developers call me to talk about the west community access to the Kroger shopping and 6 of those are in the state of Meanwhile, Montgomery is seeing a similar side of Montgomery for the first time,” Reid center, Montgomery County Precinct 1 Texas, according to the bureau. influx of housing and commercial projects, said. Commissioner Mike Meador said. such as a new Kroger Marketplace, along its eastern and western borders.
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