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10497 Town Country HOUSTON, TEXAS Confidential Offering Memorandum Confidential Offering Memorandum | JLL the Full Agreements

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10497 Town Country HOUSTON, TEXAS Confidential Offering Memorandum Confidential Offering Memorandum | JLL the Full Agreements 10497 Town Country HOUSTON, TEXAS confidential offering memorandum confidential offering memorandum| JLL offering confidential the full agreements. Interested parties are expected to review all such documents independently. Financial projections are provided for This Confidential Offering Memorandum (“Memorandum”) is furnished to reference purposes only and are based on assumptions relating to the prospective purchasers solely to facilitate the purchaser’s consideration general economy, competition and other factors beyond the control of of the Property known as 10497 Town & Country located in Houston, Jones Lang LaSalle and are, therefore, subject to material variation. Texas (“Property”). The Memorandum contains proprietary information Additional information and an opportunity to inspect the Property will be and was prepared by JLL using information compiled from sources we made available to qualified prospective purchasers upon request. Each consider to be reliable. However, the Seller makes no representations purchase offer is to be based strictly and entirely upon the purchaser’s or warranties herein and the building is being sold in an “as-is, where- independent investigation, analysis appraisal and evaluation of facts is” condition. By receipt of this Memorandum, you agree that: (a) the and circumstances deemed relevant by the purchaser. Neither Jones Memorandum and its contents are of a confidential nature and that you Lang LaSalle nor any of their respective directors, officers or affiliates will hold and treat it in strictest confidence; (b) you will not reproduce, have made any representation or warranty, expressed or implied, as transmit or disseminate the information contained in the Memorandum to the accuracy or completeness of this Memorandum or any of its through any means, or disclose this Memorandum or any of its contents contents, and no legal commitment or obligation shall arise by reason to any other entity without the prior written authorization of JLL nor of this Memorandum or its contents. will you use this Memorandum or any of its contents in any fashion or manner detrimental to the interests of JLL or seller; and (c) upon This offering is submitted and received with the understanding that request you will return the Memorandum without retaining any all offers for the acquisition of the herein described property will be copy or extracting any portion thereof. conducted through JLL. The sellers and JLL expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or This Memorandum does not purport to be all- offers to purchase the Property and/or terminate discussions with any inclusive or to contain all the information entity at any time with or without notice. which prospective purchasers may desire. Certain documents, including Investment Sales Inquiries: Financing Inquiries: leases and other materials, are Rudy Hubbard Paul House described herein in summary Managing Director Managing Director 713 425 5853 713 888 4090 form. The summaries [email protected] [email protected] are not complete Kevin McConn John Ream Senior Vice President Senior Vice President descriptions of 713 425 5839 713 425 4919 [email protected] [email protected] Rick Goings Vice President 713 425 5855 [email protected] Brenan Bennett Analyst 713 425 5893 [email protected] Michael Zietsman 10497 town & country way - houston, texas houston, texas 10497 town & country- way International Director 213 716 2527 [email protected] 2 3 confidential offering memorandum| JLL offering confidential Investment 10497 town & country way - houston, texas houston, texas 10497 town & country- way 4 5 10497 Town & Country Way, ADDRESS Houston, TX 77024 PRODUCT TYPE Office memorandum| JLL offering confidential JLL Capital Markets, as sole and exclusive advisor to The Owner SQUARE FOOTAGE 149,309 rsf of 10497 Town & Country Way (“The Property”), is pleased to present the opportunity to acquire the fee simple interest in the SITE SIZE 2.68 acres 149,309 square foot Class A office building prominently located in Houston’s premier mixed-use community. The Property benefits YEAR BUILT 1981; renovated in 2016 from being a cost-effective alternative to the adjacent CityCentre OCCUPANCY 89.7% and Memorial City office assets, while providing walkable access to the exceptional amenities of CityCentre, Town & Country Village and Freese & Nichols, Regus, MAJOR TENANTS Memorial City Mall. T&C Family Physicians 506 spaces; 3.40 per 1,000 10497 Town & Country is a unique, world-class office environment, 92 surface parking spaces offering stunning views and an unmatched amenity base at the PARKING/RATIO and 414 in a structured epicenter of Houston’s pattern of growth. The Property provides parking garage exceptional visibility and direct access via Interstate-10 and Beltway 8, state-of-the-art upgrades, and beautiful tenant and common-area spaces. Since acquiring the Property, the Owner has spent over $4.3 million in capital improvements, including the renovation of the > BARRIERS TO ENTRY: main lobby. > DURABLE CASH FLOW WITH CONTRACTUAL NOI GROWTH: Developable land in the Katy Freeway East submarket is Supported by a loyal tenant base who demand office space in a With 70% of revenue over the next extremely scarce, leading to highly amenitized lifestyle environment, 10497 Town & Country five years being contractual and numerous land sales in excess offers an exceptional combination of institutional quality real estate, 5.97 years of weighted average of $100 per square foot and a prime location, a durable cash flow stream, and contractual NOI lease term (“WALT”), the Property surpassing $200 per square foot growth. With 83% of all Class A office buildings in the Katy Freeway offers investors contractual in the immediate area. Therefore, East market controlled by two generational ownership groups, Town cash flow and stable long- replacement cost is more than & Country offers an extremely rare opportunity to invest in one of term returns. The strength and $400 per square foot and, other the premier “sub-urban” office assets in the State of Texas. resiliency of the Property and its micro-market is evidenced by the than a Fortune 500 build-to- submarket’s performance over suit on one of the area’s last the last decade, leading Houston remaining tracts of vacant land, in overall occupancy at 91% and no new office supply is planned being second only to CBD in or under construction within the terms of net rental rates. competitive market area. 10497 town & country way - houston, texas houston, texas 10497 town & country- way 6 FRONT ENTRANCE 7 confidential offering memorandum| JLL offering confidential > UNIQUE, NATURALLY HEDGED TENANT > ROBUST SUBMARKET: Katy Freeway East MIX: Less than one-quarter of a mile from stands out as a top-performing submarket Memorial City and CityCentre’s walkable due to its diverse tenant mix, high barriers to live, work, and play environment, 10497 entry, less reliance on large corporate users, Tenancy Town & Country attracts a diverse tenant less large-block vacancy risk, and access to base as the lower-cost alternative to the executive residences. During the oil downtown by Industry 0% 5% 10% 15% 20% surrounding mixed-use developments, while of 2014, Katy Freeway East maintained benefitting from the incomparable amenity the lowest vacancy rate of all suburban CIVIL ENGINEERING 25% base. Therefore, the Property offers an submarkets, never rising above 16%. extremely diverse rent roll with 32 unique MEDICAL 12% tenants representing more than 14 different > TREMENDOUS ACCESS & VISIBILITY: The CO-WORKING 11% industries, and with no industry accounting Property is adjacent to the 37-acre CityCentre for more than 25% of the rent roll. This strong, mixed-use development, located within FINANCIAL SERVICES 9% diverse tenant base limits risk and exposure Houston’s prestigious Memorial Villages at to macro-economic events; notably, the oil and the intersection of Interstate 10 and Beltway OIL & GAS 7% gas industry accounts for only 7% of the NRA. 8. The Property is viewed and accessed by REAL ESTATE 7% Furthermore, medical tenants account for 280,000 cars per day on I-10 and 175,000 only 12% of the NRA, providing an opportunity cars per day on Beltway 8, with access to INTERNATIONAL TRADE 6% for investors to attract more medical tenants two million people within a 20-minute radius. at higher base rents and higher retention rates Moreover, the TIRZ has recently completed the CONSULTING 5% as compared to standard office spaces. extension of Town & Country Way, enabling TRANSPORTATION 3% direct access to and from Beltway 8. CONSTRUCTION 2% Historical 60% TEXTILES 1% Vacancy 50% 40% STAFFING 1% 30% FOOD/DRINK 1% 20% 10% TECHNOLOGY .4% 0% 2014 2015 2016 2017 2018 YTD KFW East KFW West Greenspoint Northwest Woodlands Westchase 10497 town & country way - houston, texas houston, texas 10497 town & country- way 8 9 confidential offering memorandum| JLL offering confidential > PRIME “SUB-URBAN” LOCATION: Located in one of the wealthiest zip codes in the State, 77024, the median household income within a 1 mile radius of the property is approximately $350,000. The Property is at the epicenter of Houston's population growth and is highly accessible within the region. The immediate 10497 Town CITYCENTRE MEMORIL HERMANN MEMORIL CIT MLL & Country area boasts several high-end single and multifamily options along LL LAZA with some of the top hotels and highest ranked schools in the City. > HIGHLY AMENITIZED & WALKABLE UNIQUE LIFESTYLE scale ixed-se eveloment emorial ity edical ENVIRONMENT: Houston’s office and retail landscape largely looks he -story emorial ermann T & COUNTR LLAGE Tower includes Women’s emorial and feels suburban, but CityCentre, which is less than 350 yards ermann and hildren’s emorial ermann ouston’s first dedicated women’s and children’s from the property, distinguishes itself from the other suburban facilities outside of the Texas edical enter. office and retail nodes in Houston with its walkable environment Ap ple In c.
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