Luling Smoke House BBQ Flagship 494 Carwash Amedeo’s Italian Nico’s Bar & Grill Kingwood Cove Golf Club B& G Liquor SORTERS MCCLELLAN RD
KINGWOOD MEDICAL CENTER 360 beds and 447 physicians LONE STAR COLLEGE KINGWOOD COMMONS · 0.4 MILES KINGWOOD Talbots Rachaels’s Hallmark Shop Chico’s francesca’s Loft Carabba’s Italian Grill FOREST COVE ESTATES INSPERITY HEADQUARTERS Soma Zachary’s Cajun Cafe 2,200 Employees Home Values Mattress 1 One Dickey’s Barbecue Pit Up to $265K Jos. A Bank Coldstone Creamery The Children’s Place Pei Wei
BUTTERFLY LN
LOOP 494
Cilantro’s Mexican Grill Cicis KINGWOOD DR Sally Beauty Elite Treats Krafty Shack KINGWOOD PLACE Four two-story office buildings 4:1000 Car ratio ROCK FALLS
3.2 ACRES
CYPRESS WOODS ROCKMEAD DR SENIOR LIVING TERRACE RETIREMENT LIVING THE VERANDA
BROOKDALE KINGWOOD KINGS MANOR PALACE PINES DR Home Values Up to $250K
±3.2 Acres NEAR US-59 & KINGWOOD DR Kingwood, TX | Price TBD by Market ±3.2 ACRES AT THE NEC OF ROCKMEAD DR AND ROCKFALLS DR
EXCLUSIVE REPRESENTATION OFFER REQUIREMENTS CONTENTS ARA Newmark has been exclusively retained to Offers should be presented in the form of a non-binding represent the Seller in the disposition of ±3.2093 Acres Letter of Intent, and should include: at the northeast corner of Rockmead Drive and Rock Falls Drive in Kingwood, Texas (Property). All inquiries ·· Pricing Property Information 3 about the Property should be directed to ARA Newmark. ·· Due Diligence and Closing Timeframe ·· Earnest Money Deposit DUE DILIGENCE INFORMATION ·· Description of Debt/Equity Structure ·· Qualifications to Close Survey 4 To access the due diligence information please visit ·· Development Plans the Property website at: arausa.listinglab.com/3.2AcKingwoodLand Local Highlights 5 Purchase terms shall require cash to be paid at closing. Offers should be delivered to the attention of Tim Dosch, David Marshall, Tom Dosch, or Clark Dalton via fax or Area Highlights 8 email.
Houston Market Overview 9 CONTACTS
Tim Dosch David Marshall Brokerage Information 11 Executive Managing Director Executive Managing Director [email protected] [email protected] O 713.425.5431 O 713.425.5415 M 713.459.8123 M 713.206.1574
Tom Dosch Becky Hand Executive Managing Director Land Transaction Manager [email protected] [email protected] O 713.599.1606 O 713.337.5807 M 713.557.4455 M 918.629.5592
ARA, A Newmark Company www.aranewmark.com 1700 Post Oak Blvd 2 BLVD Place, Suite 400 Houston, TX 77056
±3.2 Acres in Kingwood, Tx | 2 PROPERTY INFORMATION
FONDREN ORTHOPEDIC GROUP CROWN CHASE DR TRACT DETAIL NEC Rock Falls Drive and Rockmead Drive LOCATION Kingwood, TX 77339 ROCKMEAD PROFESSIONAL CENTER LAT., LONG. 30.053890, -95.242999
TOTAL ACRES ±3.2093 ROCK FALLS PALACE PINES DR PARCEL NUMBER 6433-09-00300 3.2 ACRES 310’ on Rockmead Drive FRONTAGE (APPROX.) 415’ on Rock Falls Drive
ACCESS Rockmead Drive and Rock Falls ROCKMEAD DR TERRACE UTILITIES City of Houston RETIREMENT LIVING
FLOODPLAIN Not in the floodplain
DETENTION On site Two utility easements. An easement at the northern property line for the overhead power, and a 10’ wide EASEMENTS easement with its northern boundary being 70’ south of the northern property line TAX RATES Use restricted by deed restriction to office or senior ZONING housing 2017
CITY OF HOUSTON 0.586420
2016 DEMOGRAPHICS LONE STAR COLLEGE 0.107800 0-1 mi 0-3 mi 0-5 mi Est. Population 10,058 44,987 128,215 MONTGOMERY CO HOSPITAL DIST 0.066500
2016-2021 Est. Population Growth 16.81% 13.82% 12.20% MONTGOMERY COUNTY 0.466700
Est. Average Household Income $73,799 $96,364 $96,078 NEW CANEY ISD 1.67000 Est. Median All Owner-Occupied Housing $171,473 $177,269 $166,788 Values Total 2.897420
±3.2 Acres in Kingwood, Tx | 3 PROPERTY INFORMATION: SURVEY
325.37’
415.0’ 430.0’
310.37’
±3.2 Acres in Kingwood, Tx | 4 LOCAL HIGHLIGHTS
EMPLOYMENT 50 new subdivisions are in some form of development in the KINGWOOD MEDICAL CENTER Kingwood Medical Center Humble-Kingwood area. A 2016 study by Humble ISD found that ∙∙ 360-bed, acute-care hospital with over 447 more than 12,000 new homes will be constructed by 2025. physicians ∙∙ Undergoing a $35 million expansion that will The growth is expected to add another 30,000 people to the add 38 new patient rooms, 22 critical care area’s population, bringing it to more than 288,000 by the 2020 beds, and 16 intermediate care beds to be census. completed in 2018 ∙∙ Brain and Spine Center has been the recipient of the TMF Health Quality Institute EDUCATION award since 2007 Lone Star College Kingwood ∙∙ The Cardiovascular Center is an Accredited ∙∙ Opened in 1984 as the second Lone Star campus Chest Pain Center and hosts the Open- MEMORIAL HERMANN SURGICAL CENTER ∙∙ Has two off-site locations to better serve the rapidly growing Heart program where over 800 open-heart communities surrounding Kingwood surgeries have been performed ∙∙ Serves approximately 7,000 credited students and 3,000 ∙∙ The Women’s Cener offers comprehensive noncredited students each semester services for prenatal care through labor and delivery and has delivered more than 2,800 New Caney ISD babies in the past year alone ∙∙ Contains 9 elementary schools, 4 middle schools, and two high schools Kingwood Pines Hospital ∙∙ Teachers have on average 10 years or more of teaching experience ∙∙ Offers inpatient treatment, outpatient services, and partial hospitalization ∙∙ Over 20% of teachers have Masters and Doctorate degrees programs for those suffering from psychiatric, ∙∙ Over 40% of high school students are enrolled in advanced behavioral health, or chemical dependency academic classes LONE STAR COLLEGE KINGWOOD issues ∙∙ One of the fastest growing recognized school districts in the region ∙∙ Treatment center has 116 licensed acute-care Humble ISD inpatients beds and over 150 employees ∙∙ 43 campuses with over 40,000 students and more than 5,000 Kingwood Memorial Hermann Surgical Center employees ∙∙ Accredited by Joint Commission ∙∙ Among the 25 fastest growing school districts in Texas ∙∙ Contains six operating rooms and two ∙∙ 31st largest district in the state treatment rooms ∙∙ The district’s rating for 2016 by the Texas Education Agency is Met ∙∙ Surgeries are specialized in ENT, General, Standard, the highest rating possible Gynecology, Ophthalmology, Orthopedic, ∙∙ Approximately 85% of our students plan to continue their Pain, Plastic, Podiatry, Spine, and Urology education following graduation
±3.2 Acres in Kingwood, Tx | 5 LOCAL HIGHLIGHTS
THE VILLAGE AT NORTHPARK · 0.4 MILES Oakhurst Golf Club Panera Bread Subway Carl’s Junior Taco Cabana Ideal Dental Kingwood Smashburger WEATHERFORD Nails of America Great Clips
NORTHPARK DR REGENT CARE CENTER Houston Heart & Vascular Associates OF KINGWOOD Texas Roadhouse The Union Kitchen 213 Acres / 900 Homes Los Cucos Mexican Cafe KINGS MILL Homes values Pump it Up Up t0 $300K
KINGS MANOR ELEMENTARY SCHOOL
BUTTERFLY LN LOOP 494
KINGWOOD KINGWOOD COMMONS · 0.4 MILES PROFESSIONAL CENTER
3.2 ACRES
Mattress 1 One Rachaels’s Hallmark Shop ROCKMEAD DR Jos. A Bank francesca’s The Children’s Place Carabba’s Italian Grill KINGWOOD PLACE Talbots Zachary’s Cajun Cafe Four two-story office buildings 4:1000 Car ratio Chico’s Dickey’s Barbeque Pit Loft Pei Wei
Cilantro’s Mexican Grill Cicis Sally Beauty Elite Treats Krafty Shack KINGWOOD DR
±3.2 Acres in Kingwood, Tx | 6 LOCAL HIGHLIGHTS
OUTDOORS & RECREATION Kingwood is best known for being a community that exists in harmony with nature. Kingwood’s heavily wooded acreage is canopied with tall pines and magnolias, along with 20 other types of shade trees. The community is host to a variety of wildlife including deer, fish, birds, and more, that can be found in the 500+ acres of private nature preserves and parks.
Oakhurst Golf Club RETAIL & ENTERTAINMENT ∙∙ Feature 18-holes and 7,500 square feet of greens ∙∙ Underwent a $1.5 million renovation in 2004 Village at Northpark ∙∙ Anchored by a 123,000 square-foot Kroger Marketplace Northpark Recreation Center ∙∙ Other retail includes ShowBiz Cinemas, Mattress Firm, ∙∙ 19-acre park located north of North Park Drive and Harley-Davidson of Kingwood, BBVA Compass, Great immediately north of Kingwood Park High School Clips, Nails of America, and Exxon ∙∙ Used exclusively for organized sports including the ∙∙ Restaurants include Panera Bread, Carl’s Jr, Chick-fil-A, Kingwood Alliance Soccer Club, Kingwood Adult Whataburger, Sonic Drive-In, El Ranchero Mexican Softball Assoication, and Kingwood Girls Softball Restaurant, Cracker Barrel Old Country Store, Taco Bell, Association Smashburger, Pollo Tropical and Taco Cabana Town Center Park Deerbrook Mall ∙∙ Site of various holiday celebrations throughout the Kingwood Greenbelt ∙∙ 1.4 million square feet of retail space year hosting live music, food and craft vendors Kingwood offers a 75+ mile greenbelt system ∙∙ 140 stores anchored by Dillards, Macy’s, Barnes & ∙∙ Events include Mardi Gras, Spring Car Show, which winds throughout the community. Noble, and AMC 24 Theatre Christmas in the Park, and Thursday Markets These trails preserve the wildlife in the area ∙∙ Other retail includes Abercrombie & Fitch, Bath & and to provide safe access to schools, parks Kingwood Country Club Body Works, Best Buy, Champs Sports, Express, Foot and shopping without having to cross major ∙∙ Offers several amenities including an award Locker, Forever 21, Franscesca’s, Gamestop, Gap, GNC, roads. Residents can walk, ride bikes or roller Jared Galleria of Jewelry, JCPenney, Kay Jewelers, Palais blade through tunnels built along the major winning golf course, tennis courts, fitness center, Royal, Payless Shoesource, Sunglass Hut, Zales, and streets. and spa ∙∙ Hole No. 6 selected by Golf Course Architects more Society of America as the National Hole of the Year Grand Texas and hole No. 18 receives recognition every year by ∙∙ Encompasses over 632 acres with the grand opening the Dallas Morning News as one of 18 Texas golf scheduled for 2017 holes considered to be the toughest in the state ∙∙ Will include the Houston area’s largest amusement Lake Houston Wilderness Park park, Big Rivers Waterpark, The Grove Factory Outlets, ∙∙ 4,986 acres of wilderness and 12 miles of hike and Speedsportz Racing Park, Grand Texas Sportsplex, and bike trails a promenade featuring numerous dining, shopping, and entertainment venues ∙∙ 8 miles of equestrian trails and camping facilities
±3.2 Acres in Kingwood, Tx | 7 AREA HIGHLIGHTS
GENERATION PARK Generation Park Central Business District ·· 4,000-acre enterprise park being develop- ·· 150,195 employees ment by McCord Development ·· Hosts 12 of Houston’s 26 Fortune 500 ·· FMC Technologies broke ground on their companies future 173-acre campus in May 2014 and ·· Major employers (number of employees) plans to consolidate its 10 Houston facili- include Chevron (7,000), Shell Oil Company ties (including corporate headquarters) into (6,500), Chase Bank (4,695), KBR (3,175), Generation Park ExxonMobil Corporation (3,000), Kinder ·· San Jacinto College will occupy 57 acres Morgan (2,200), CenterPoint Energy (2,040), ·· First phase developed will be the Corridor Hess Corporation (1,870), United Airlines District, hosting corporate headquarters and/ (1,840), and Wells Fargo (1,695) or manufacturing components DOWNTOWN HOUSTON ·· Contains 1.2 million square foot George R. ·· A later phase will include several large Brown Convention Center sites within 1,000 acres along the 1.5 mile ·· Two new office towers coming soon to down- Generation Park Lake town being developed by Hines (41 stories) ·· Other planned areas include a Foreign Trade and Chevron (50 stories, 1.7 million square Zone District with Union Pacific rail service, feet, and 1,752 additional employees) a Research & Development District, and an North Houston District Industrial District ·· Covers 12 square miles ·· 50 miles of hike-and-bike trails ·· 18 million square feet of retail, office, and George Bush Intercontinental Airport industrial space ·· Generates a $19 billion impact on the ·· 4,400 business establishments, 20 major Houston economy NORTH HOUSTON DISTRICT companies, 66,000 employees ·· Supports $5 billion in total payroll and more ·· Major employers include Baker Hughes Inc, than 200,000 full time jobs Citgo Petroleum, Halliburton Co, Nabors ·· Tenth busiest airport in North America Industries, Schlumberger, Shell Oil Products, and Swift Energy ·· Named the fastest growing airport among the top ten major airports in the nation ·· Home of the future Pinto Business Park, which has over 90 million square feet of industrial, ·· Operations are projected to nearly double by office, flex, and amenity space 2017
±3.2 Acres in Kingwood, Tx | 8 HoustonHOUSTON MARKET Market OVERVIEW Overview Worldwide leader in healthcare Houston’s economic downturn is over Travel + Leisure ranked Houston No. 2 among “Friendliest Cities in The healthcare industry makes up 13% of the Houston MSA’s workforce America” and No. 10 of “America’s Best Music Scenes”. Houston’s economic downturn is over and grew 2.9 percent between January ’16 and January ’17. Throughout the nation, hospitals, clinics and medical offices are expanding as they and recovery has begun. Recovery U.S. News & World Report ranked Houston seventh “Best Foodie try to keep up with a population boom of nearly 10 percent since 2010. signals include the West Texas Destination in the USA.” Intermediate, the U.S. benchmark for As a result, healthcare occupations and industries are expected to have light, sweet crude, now trading near the fastest employment growth and to add the most jobs between 2014 National Geographic ranked Houston No. 8 “Top Nightlife Cities in $50 per barrel; the strong increase in and 2024, the U.S. Bureau of Labor Statistics reports. In fact, between the World” the number of drilling rigs working in December ’14 to October ’16, a period when mining and logging lost On Boston Globe’s list of six “Places to Visit in 2015,” Houston was the U.S.; the cresting of the Houston nearly 25,000 jobs due to the energy downturn, health care created nearly the only U.S. destination on the list. Purchasing Managers Index over 50 in 23,000 new jobs. The Greater Houston Partnership expects Houston to October 2016; and strong job growth add 9,800 healthcare jobs in ’17. 2016, occupancy was at 94%. Additionally, two million square feet of retail in the 12 months ending October ‘16. World’s Largest Medical Complex space is under construction, much of it for delivery next year. Houston These signals are underscored by a should see the addition of add 4,500 jobs in this sector by year’s end. growing consensus that the global oil Houston’s Texas Medical Center, dubbed a “Medical Mini-City” by Forbes, market is moving back into equilibrium is the world’s largest medical complex, the 8th largest business district Over 160,000 teachers, assistants, and librarians in the US, employs over 106,000 people and has an estimated regional for supply and demand, and that the Ranked as the nation’s seventh largest district, Houston Independent annual economic impact of $20 billion. Much like the petrochemical price can be soon restored to the $65 School District (HISD) covers 312 square miles with 288 schools, 13,000 boom occurring on Houston’s east side, institutions within the TMC have per barrel range. teachers and more than 210,000 students. The US Bureau of Labor $3 billion in construction projects underway. Statistics estimates there are 160,000 teachers, teaching assistants and Houston weathered the downturn bet- librarians in the Houston MSA. Houston is also home to multiple higher ter than many expected: the region Healthcare expands to the suburbs education institutions which attract students from all over the world: never had a 12-month period in which World-class healthcare is no longer confined to the Texas Medical Center ∙∙ The University of Houston, a Tier One Research University, was employment growth dipped below zero campus. As Houston’s growing population expands to the suburbs, so chosen as one of the nation’s best colleges for undergraduate and the unemployment rate never rose does its healthcare. New health center openings and expansions totaling education by The Princeton Review in 2011. above 5.8 percent. The Houston econ- over 5 million square feet in the TMC and the Greater Houston area over ∙∙ Rice University, a Tier One Research University, was ranked as a omy benefited from a strong U.S. econ- the next four years include: top institution in the country by The Princeton Review, Newsweek omy and the strength of its petrochem- ∙ will open or expand hospitals in the TMC, Katy, ∙ Memorial Hermann College Guide, Kiplinger’s Personal Finance, Worth magazine, ical and refining industries (which in Sugar Land, Pearland, Cypress and northeast Houston turn benefited from the low prices of oil Financial Times, U.S. News and World Report and the Almanac of ∙∙ Texas Children’s will open or expand hospitals in the TMC, The Architecture and Design. Rice University ranked first among “30 and natural gas). Offsetting oil losses, Woodlands and West Houston and keeping Houston’s job growth pos- Best Values in Small Colleges” according to Kiplinger’s Personal itive, has been strong growth in service ∙∙ Houston Methodist will open hospitals in West Houston, Sugar Land Finance Magazine (2014). sector jobs. Growth in food service, and The Woodlands ∙∙ The University of St. Thomas was recognized by U.S. News & World healthcare, retail trade, and public ∙∙ The University of Texas Medical Branch will open a hospital in League Report, The Cardinal Newman Society and The Princeton Review education have led the metropolitan City Guide. area’s job growth since late 2014. ∙∙ Baylor/CHI will open a hospital in the TMC ∙∙ Baylor College of Medicine was ranked as one of the top 25 medical schools for research in 2011 by U.S. News & World Report. The Houston area created 13,400 jobs This unprecedented growth ensures that the medical sector will remain ∙∙ Lone Star College System is one of the fastest-growing community in the 12 months ending October ’16, one of the major pillars of Houston’s economy for the foreseeable future. colleges in the nation. and the Greater Houston Partnership is Strong retail growth ∙∙ Texas A&M University Health Science Center (TAMHSC) is the most projecting Houston will add 29,700 net comprehensive health science center in Texas. The TAMHSC School jobs across all sectors in 2017, demon- Retail accounts for 10.3 percent of all jobs in the Houston region – only of Public Health is ranked in the Top 25 “Best Grad Schools for strating confidence from local experts. healthcare and government employ larger shares of the workforce. Public Health” by U.S. News & World Report. Houston ranks fourth nationally in retail construction activity. As of Q4
±3.2 Acres in Kingwood, Tx | 9 HOUSTON MARKET OVERVIEW
One of the friendliest cities in America POPULATION | Over the past 35 years, Houston has added 3.4 million residents, 1.5 million Houston’s performing arts, nightlife, culinary scene, and sports attractions drew 17.5 million jobs and real personal income has grown at a 6.1 percent annual rate. visitors in ’15, up from 14.5 million in ’14. Houston First Corporation and the Greater Houston County 2015 Pop. 2016 Pop. Pop. % of Growth Growth % Convention & Visitors Bureau plan to increase annual visitors to 20 million in ’18 through a com- Houston bination of marketing, tourism summits, industry outreach and infrastructure improvements, including more than two dozen planned hotel openings in 2017. Austin 29,548 29,758 0.44% 210 0.7 Brazoria 345,661 354,195 5.23% 8,534 2.5 While over 2.2 million annual visitors come for the Houston Livestock Show and Rodeo, the world’s largest livestock show and rodeo, many others come for its arts and culture. Houston Chambers 38,768 39,899 0.59% 1,131 2.9 has more than 500 cultural, visual and performing arts organizations, 90 of which are devoted Fort Bend 713,849 741,237 10.94% 27,388 3.8 to multicultural and minority arts. These organizations are some of the best in the country: The Children’s Museum of Houston is the highest attended youth museum in the country for its size Galveston 321,538 329,431 4.86% 7,893 2.5 and rated number one in the country by Parents magazine; the Houston Zoo welcomed over Harris 4,533,341 4,589,928 67.77% 56,587 1.2 2.55 million visitors in 2016, making it the number one most-visited zoo in the country; and Houston’s Museum of Fine Arts is the largest art museum in the Southwest United States. Liberty 79,696 81,704 1.21% 2,008 2.5 For those who prefer live action to museums, Houston has a Theater District second only to New Montgomery 536,434 556,203 8.21% 19,769 3.7 York City in its concentration of seats in one geographic area. Located downtown, the 17-block Waller 48,630 50,115 0.74% 1,485 3.1 Theater District is home to eight performing arts organizations with more than 12,000 seats. The Houston Ballet was lauded by The New York Times as “...one of the nation’s best ballet compa- Totals 6,647,465 6,772,470 125,005 1.90% nies” and the Houston Grand Opera is the only opera company in the world with Grammy, Tony and Emmy awards. With so much to offer visitors from all over the world, it’s no surprise that the CONSTRUCTION | The Greater Houston Partnership predicts construction in the areas of indus- Greater Houston Partnership predicts the addition of 8,700 employees to this sector in 2017. trial, single family housing, medical, institutional, and commercial. In the November ‘16 elec- tion, Houston area voters approved $638 million in local construction bonds on top of the $10.6 New developments in air travel billion approved since May ’14. The Houston Airport System contributed more than $27.5 billion to the local economy and is directly responsible for over 230,000 jobs in the Houston area. Air travel was not immune to the EAST HOUSTON | Some $50 billion worth of refinery, petrochemical and LNG plants are under- economic downturn, but the opening of an international concourse and return of international way, providing thousands of construction jobs, but that activity will peak over the next two years. service to Latin American and the Caribbean in October 2015 at Houston Hobby helped offset In 2017, nearly $23 billion in such projects are scheduled to be completed. Increased need for a drop in domestic traffic system wide. Additionally, United Airlines is currently constructing a routine maintenance and turnaround projects on the operational plants will soften the employ- new Terminal C North facility slated to open in early ’17. In fact, the Greater Houston Partnership ment decrease as construction winds down. predicts a continuing recovery in this sector with the addition of 2,100 jobs. PORT OF HOUSTON | 1st ranked US port in foreign tonnage (2015); 2nd ranked US port in total foreign cargo value (2015); Largest Gulf Coast container port, handling 68% of US Gulf Coast INTERNATIONAL CITY | Houston’s business cost is 2.0% below the U.S. average, drawing container traffic (2015); The Port Commission approved $88 million in capital expenditures tied foreign trade, investment, and business to the region. International trade directly or indi- to channel improvements and new terminals rectly supports more than one-third of all jobs in the Houston metropolitan area. Houston hosts: SPACE CITY | Houston is home to Johnson Space Center, a $1.5 billion complex housing one ·· Ninety-two foreign governments have official representation here through consulates of NASA’s largest R&D facilities, mission control, and the training base for US astronauts, as or trade offices, ranking Houston’s consular corps third in the nation. well as 150 companies involved in aircraft or space vehicle manufacturing, space research and ·· 21 foreign banks, representing 9 nations technology. ·· More than 752 foreign-owned firms ·· More than 437 companies with branches in 144 other nations HOUSING | Single family housing inventory remains tight with a 3.8-month supply, and 2016 saw ·· The Texas Medical Center sees an annual average of 16,000 International patient a 3.0% increase in single-family homes sold from 2015. For the past two years, the 12-month total visits. property sales tracked by the Houston Association of Realtors has remained steady between 89,000 and 91,500.
±3.2 Acres in Kingwood, Tx | 10 INFORMATION ABOUT BROKERAGE SERVICES & DISCLAIMER
10-10-11
Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about DISCLAIMER brokerage services to prospective buyers, tenants, sellers and landlords. Prospective purchasers are hereby advised the Owners (“Owner”) of the Property are soliciting offers through Apartment Realty Advisors (“ARA”), which may be accepted or rejected by the Owners at the Information About Brokerage Services Owners’ sole discretion.
Any solicitation of an offer for the Properties offered hereunder will be governed by this Offering, as it efore working with a real estate broker, you intermediary. The written consent must state who will may be modified or supplemented. Prospective purchasers are advised that as part of the offer process, should know that the duties of a broker pay the broker and, in conspicuous bold or underlined the Owners will be evaluating several factors including the experience and financial qualifications of depend on whom the broker represents. If print, set forth the broker’s obligations as an the purchasing entity. you are a prospective seller or landlord intermediary. The broker is required to treat each (owner)B or a prospective buyer or tenant (buyer), you party honestly and fairly and to comply with The should know that the broker who lists the property for Texas Real Estate License Act. A broker who acts as The Owners shall have no obligation to accept any offer from any prospective purchaser. The Owners sale or lease is the owner’s agent. A broker who acts an intermediary in a transaction: reserve the right to withdraw the Properties from consideration at any time prior to final execution of a as a subagent represents the owner in cooperation Purchase Agreement. (1) shall treat all parties honestly; with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an (2) may not disclose that the owner will accept a This Offering document is furnished to prospective purchasers for the purpose of determining whether intermediary between the parties if the parties price less that the asking price unless authorized in to invest in the Properties offered hereby. The information contained herein, or any other related consent in writing. A broker can assist you in locating writing to do so by the owner; information provided by the Owners, may not be reproduced, redistributed or used in whole or in part a property, preparing a contract or lease, or obtaining financing without representing you. A broker is (3) may not disclose that the buyer will pay a without the prior written consent of the Owners. price greater than the price submitted in a written offer obligated by law to treat you honestly. unless authorized in writing to do so by the buyer; and No person has been authorized to give any information or make any representation or warranty, either IF THE BROKER REPRESENTS THE OWNER: (4) may not disclose any confidential information or expressed or implied and, if given or made, such information or representation must not be relied upon. The broker becomes the owner’s agent by entering any information that a party specifically instructs the into an agreement with the owner, usually through a broker in writing not to disclose unless authorized in While the Owners and ARA have no reason to believe that the information provided herein or in written - listing agreement, or by agreeing to act as a writing to disclose the information or required to do so by subsequent information updates delivered to potential purchasers hereunder contains any material subagent by accepting an offer of subagency from the The Texas Real Estate License Act or a court order or if inaccuracies, neither the Owners nor ARA nor any of the Owners’ or ARA’s respective subsidiaries, listing broker. A subagent may work in a different real the information materially relates to the condition of the estate office. A listing broker or subagent can assist property. affiliates, companies, or the officers, directors, employees, agents and representatives of any such the buyer but does not represent the buyer and entities, etc., make any representations or warranties, expressed or implied, as to the validity, accuracy must place the interests of the owner first. The buyer With the parties’ consent, a broker acting as an or completeness of the information provided or to be provided, and nothing herein shall be deemed to should not tell the owner’s agent anything the buyer intermediary between the parties may appoint a person constitute a representation, warranty or promise by any such parties as to the future performance of the who is licensed under The Texas Real Estate License would not want the owner to know because an Properties or any other matters set forth herein. owner’s agent must disclose to the owner any Act and associated with the broker to communicate material information known to the agent. with and carry out instructions of one party and another person who is licensed under that Act and Any obligations to prospective purchasers that the Owners may have with respect to the Properties IF THE BROKER REPRESENTS THE BUYER: associated with the broker to communicate with and are limited to those expressly set forth in a fully executed Purchase Agreement between the parties. The broker becomes the buyer’s agent by entering carry out instructions of the other party. Prospective purchaser’s sole and exclusive rights against the Owners, with respect to this prospective into an agreement to represent the buyer, usually transaction, the Properties, or information provided herein or subsequently, shall be limited to those through a written buyer representation agreement. A If you choose to have a broker represent you, remedies expressly provided in an executed Purchase Agreement, which shall not survive the closing. you should enter into a written agreement with the buyer’s agent can assist the owner but does not Further, in no event shall prospective purchasers have any claims against the Owners, ARA, or any represent the owner and must place the interests of broker that clearly establishes the broker’s obligations and your obligations. The agreement should state of their respective affiliates for any damages, liability, or causes of action relating to the Purchase the buyer first. The owner should not tell a buyer’s Agreement. agent anything the owner would not want the buyer how and by whom the broker will be paid. You have to know because a buyer’s agent must disclose to the the right to choose the type of representation, if any, buyer any material information known to the agent. you wish to receive. Your payment of a fee to a broker Prospective purchasers are not to construe the contents of this Offering or any prior or subsequent does not necessarily establish that the broker information communications from the Owners or any of their respective officers, employees or agents IF THE BROKER ACTS AS AN INTERMEDIARY: represents you. If you have any questions regarding as legal, tax or other advice. Prior to purchasing, prospective purchasers should consult with their own A broker may act as an intermediary between the the duties and responsibilities of the broker, you legal counsel and personal and tax advisors to determine the consequences of an investment in the should resolve those questions before proceeding. parties if the broker complies with The Texas Real Property and arrive at an independent evaluation of such investment. Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an No commission or finder’s fee shall be payable to any party by the Owners nor any affiliate or agent thereof in connection with the sale of the Properties unless otherwise agreed to by the Owners in Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records. writing.
Acquisition of properties such as the these offered hereunder involves a high degree of risk and are Buyer, Seller, Landlord or Tenant Date suitable only for persons and entities of substantial financial means. Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 , 512-936-3000 (http://www.trec.texas.gov) TREC No. OP-K ±3.2 Acres in Kingwood, Tx | 11 FONDREN ORTHOPEDIC GROUP CROWN CHASE DR
ROCKMEAD PROFESSIONAL CENTER
ROCK FALLS PALACE PINES DR 3.2 ACRES
ROCKMEAD DR TERRACE RETIREMENT LIVING
Tim Dosch David Marshall Tom Dosch Becky Hand Executive Managing Director Executive Managing Director Executive Managing Director Land Transaction Manager [email protected] [email protected] [email protected] [email protected] O 713.425.5431 O 713.425.5415 O 713.599.1606 O 713.337.5807 © ARA Newmark. All Rights Reserved. M 713.459.8123 M 713.206.1574 M 713.557.4455 M 918.629.5592