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CBD CLASS A MARKET OFFICE LEASE OPTIONS Prepared for: May 7, 2015 Prepared by: Transwestern Bobbie Bozarth, Senior Vice President 713.272.1221 [email protected] TARGETED BUILDINGS COMPARISON CHART HOUSTON, TX ‐ CBD CLASS A WEDGE INTERNATIONAL BUILDING NAME & ADDRESS TOWER THREE ALLEN CENTER TWO ALLEN CENTER TOTAL PLAZA WELLS FARGO PLAZA 1600 SMITH STREET 1415 LOUISIANA 333 CLAY 1200 SMITH 1201 LOUISIANA 1100 LOUISIANA 1000 LOUISIANA BUILDING NUMBER 123 4567 BUILDING RSF / # FLOORS 1,098,399 / 51 520,475 / 43 1,194,719 / 50 995,623 / 36 843,533 / 35 1,265,332 / 55 1,721,242 / 71 BUILDING CLASS: AAA A A A A YEAR BUILT: 1984/RENOVATED1992 1983/RENOVATED 2009 1980/RENOVATED 2008 1978/RENOVATED 1992 1971/RENOVATED 1996 1980 1983 AVERAGE FLOORPLATE: 23,500 18,000 23,500 26,613 24,600 23,060 25,000 COMMON AREA FACTOR: 21% 20% 24% 23% 23% 24% 24% OCCUPANCY: 97.00% 72.00% 97.00% 97.00% 82.00% 98.20% 97.80% SPACE OPTIONS: 3RD FLOOR ‐ 5,057 SF 37TH FLOOR ‐ 5,860 SF 36TH FLOOR ‐ 5,714 SF SUITE 600 ‐ 7,487 SF (DIVISIBLE) (1,219 SF AVAIL 3/1/16) 44TH FLOOR ‐ 8,350 SF SUITE 1900 ‐ 9,707 SF 37TH FLOOR ‐ 5,276 SF SUITE 2100 ‐ 6,146 SF 47TH FLOOR ‐ 5,497 SF SUITE 660 ‐ 5,951 SF 7TH FLOOR SUBLEASE ‐ 6,937SF (DIVISIBLE) (DIVISIBLE) QUOTED RENTAL TERMS: $27.00 NNN $27.00 NNN $22.50 NNN $31.00 NNN $30.00 NNN ($22.00 NNN SUBLEASE) $32.00 NNN $29.50 NNN TENANT IMPROVEMENT ALLOWANCES: $25.00 SF $30.00 ‐ $50.00 SF $20.00 SF $20.00 SF DIRECT SPACE ‐ $25.00 SF $25.00 SF NEGOTIABLE ESTIMATED OPERATING EXPENSES: $16.83 SF $12.44 SF $14.80 SF $14.49 SF $14.55 SF $15.55 SF $18.60 SF SIGNAGE: DIRECTORY DIRECTORY DIRECTORY DIRECTORY DIRECTORY DIRECTORY DIRECTORY 1/1,000 SF 1/1,000 SF 1/1000 SF PARKING RATIO: 1/1,000 SF 2.7/1,000 SF $185‐$200/SPC/MO‐ $185‐$200/SPC/MO‐ $175‐$255/SPC/MO‐ 1.8/1,000 SF 1.5/1,000 SF $200/SPC/MO‐UNRESERVED $180/SPC/MO‐UNRESERVED UNRSERVED UNRESERVED UNRESERVED $200/SPC/MO‐UNRESERVED $130/SPC/MO‐UNRESERVED $283/SPC/MO‐RESERVED $275/SPC/MO‐RESERVED $242‐$283/SPC/MO‐RESERVED $242‐$283/SPC/MO‐RESERVED $255‐$350/SPC/MO‐RESERVED $250‐$250/SPC/MO‐RESERVED $150/SPC/MO‐RESERVED ZAYO, AIRBAND, AT&T, ALPHEUS, AT&T, COGENT, ABOVENET, ALPHEUS, COGENT, COMCAST, AT&T, ALPHEUS, COGENT, COMCAST, CRICKET, LOGIX, FIBER PROVIDERS: COGENT, COMCAST, KMS, COMCAST, COGENT, LOGIX, PHONOSCOPE, LOGIX, COMCAST, LEVEL 3, LOGIX, COGENT, COMCAST, LEVEL 3, PHONOSCOPE, SPRINTCOM, PHONOSCOPE, LEVEL 3, LEVEL 3, PHONOSCOPE, NEXTLINK, LEVEL 3, TW PHONOSCOPE, TW TELECOM, PHONOSCOPE, NEXTLINK, TW TMOBILE, TW TELECOM, VERIZON, ZAYO QWEST, TW TELECOM, XO TELECOM, VERIZON VERIZON, ZAYO TELECOM VERIZON, ZAYO *MULTIPLE PROVIDERS CONFERENCING FACILITY, CONFERENCING FACILITY, ON FITNESS CENTER, ON SITE ON SITE MANAGEMENT, CONFERENCING FACILITY, ON BUILDING AMENITIES: SITE MANAGEMENT, BANKING, RESTAURANT, ON MANAGEMENT, FITNESS CENTER, SITE MANAGEMENT, FOOD COURT, ON SITE FITNESS CENTER, FOOD COURT, RESTAURANT, BANKING SITE MANAGEMENT RESTAURANTS, BANKING RESTAURANTS, BANKING RESTAURANTS, BANKING MANAGEMENT, BANKING ON SITE MANAGEMENT BUILDING SECURITY: 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY BUILDING OWNER: WEDGE COMMERCIAL ENTERPRISE PRODUCTS BROOKFIELD PROPERTIES BROOKFIELD BROOKFIELD BROOKFIELD PARTNERS, LP 1000 LOUISIANA LP ADDITIONAL NOTES: LEED GOLD‐2011 LEED SILVER‐2013 LEED GOLD‐2012 LEED GOLD‐2012 LEED GOLD‐2012 LEED GOLD‐2014 LEED GOLD‐2013 ENERGY STAR‐2014 ENERGY STAR‐2013 ENERGY STAR‐2014 ENERGY STAR‐2014 ENERGY STAR‐2014 ENERGY STAR‐2014 ENERGY STAR‐2014 TARGETED BUILDINGS COMPARISON CHART HOUSTON, TX ‐ CBD CLASS A BUILDING NAME & ADDRESS TWO SHELL PLAZA PENNZOIL PLACE N TOWER PENNZOIL PLACE S TOWER JP MORGAN CHASE ONE CITY CENTRE 2 HOUSTON CENTER LYONDELLBASELL TOWER 811 LOUISIANA 711 LOUISIANA 700 MILAM 600 TRAVIS 1021 MAIN 909 FANNIN 1221 MCKINNEY BUILDING NUMBER 8 9 10 11 12 13 14 BUILDING RSF / # FLOORS 588,423 / 26 664,940 / 24 704,749 / 36 1,656,529 / 75 608,660 / 31 1,024,956 / 40 1,061,351 / 46 BUILDING CLASS: AAA A A A A YEAR BUILT: 1970/RENOVATING 2015 1975/RECENTLY RENOVATED 1975/RECENTLY RENOVATED 1982/RENOVATED 2012 1960/RENOVATED 2010 1974/RENOVATED 1996 1978/RENOVATED 1996 AVERAGE FLOORPLATE: 33,350 21,500 21,500 22,575 21,266 25,624 23,500 COMMON AREA FACTOR: 16‐22% 15% 15% 21% 21% 24% 24% OCCUPANCY: 33.20% 81.00% 75.00% 95.90% 85.60% 65.90% 95.10% SUITE 1000 ‐ 11,032 SF; SUITE 25TH FLOOR ‐ 4,292 SF 1040 ‐ 9.375 SF 18TH FLOOR ‐ 8,642 SF SUITE 1435 ‐ 4,856 SF SPACE OPTIONS: 25TH FLOOR ‐ 11,070 SF SUITE 1920 ‐ 7,707 SF SUITE 1250 ‐ 8,132 SF; SUITE (DIVISIBLE) SUITE 1440 ‐ 3,551 SF 18TH FLOOR ‐ 12, 445 SF (DIVISIBLE) (DIVISIBLE) 1450 ‐ 8,348 SF (DIVISIBLE) 66TH FLOOR ‐ 4,636 SF SUITE 1950 ‐ 6,748 SF 32ND FLOOR ‐ 6,043 SF (DIVISIBLE) QUOTED RENTAL TERMS: $28.00 NNN $28.50 NNN $28.50 NNN $33.50 NNN $21.00 ‐ $22.50 NNN $30.00 NNN $30.50 NNN TENANT IMPROVEMENT ALLOWANCES: $30.00 SF NEGOTIABLE NEGOTIABLE $15.00 SF NEGOTIABLE $20.00 SF $20.00 SF ESTIMATED OPERATING EXPENSES: $15.48 SF $15.95 SF $15.95 SF $15.39 SF $12.56 SF $14.36 SF $14.17 SF SIGNAGE: DIRECTORY DIRECTORY DIRECTORY DIRECTORY DIRECTORY DIRECTORY DIRECTORY 0.3/1,000 SF 0.3/1,000 SF 1/1,000 SF 1/1,000 SF PARKING RATIO: 2/1,000 SF $160‐$200/SPC/MO‐ $160‐$200/SPC/MO‐ 1/1,000 SF 2.3/1,000 SF $185‐$210/SPC/MO‐ $185‐$210/SPC/MO‐ $200/SPC/MO‐UNRESERVED UNRESERVED UNRESERVED $205/SPC/MO‐UNRESERVED $180/SPC/MO‐UNRESERVED UNRESERVED UNRESERVED $265/SPC/MO‐RESERVED $235‐$260/SPC/MO‐RESERVED $235‐$260/SPC/MO‐RESERVED $270/SPC/MO‐RESERVED $285/SPC/MO‐RESERVED $315.00/SPC/MO‐RESERVED $315.00/SPC/MO‐RESERVED ZAYO, AT&T, COGENT, AT&T, ABOVENET, COGENT, AT&T, ABOVENET, COGENT, AT&T, COGENT, PHONOSCOPE, ZAYO, AT&T, COGENT, LOGIX, COMCAST, TOWERSTREAM, FIBER PROVIDERS: PHONOSCOPE, AT&T, FIBERLIGHT, PHONOSCOPE, TW FIBERLIGHT, PHONOSCOPE, TW QWEST, TW TELECOM, PHONOSCOPE, CENTURYLINK, LOGIX, PHONOSCOPE, VERIZON, COGENT, ALPHEUS TELECOM, VERIZON TELECOM, VERIZON ABOVENET, LOGIX AT&T, LOGIX LEVEL 3, VERIZON, XO CENTURYLINK, VERIZON, XO CONFERENCING FACILITY, BUILDING AMENITIES: CONFERENCING FACILITY, ENERGY STAR, ON SITE BANKING, FITNESS CENTER, ON FITNESS CENTER, FOOD COURT, BANKING, FOOD COURT, ON BANKING, FOOD COURT, ON BANKING, FOOD COURT, ON FITNESS CENTER, ON SITE MANAGEMENT, RESTAURANT, SITE MANAGEMENT, ON SITE MANAGEMENT, SITE MANAGEMENT SITE MANAGEMENT SITE MANAGEMENT MANAGEMENT, BANKING BANKING RESTAURANT CONFERENCING FACILITY BUILDING SECURITY: 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY 24/7 SECURITY BUILDING OWNER: JP MORGAN CHASE/ JP MORGAN CHASE/ BUSYCON PROPERTIES MANN ENTERPRISES MANN ENTERPRISES TEXAS TOWER LTD ACCESSO PARTNERS CRESCENT REAL ESTATE CRESCENT REAL ESTATE ADDITIONAL NOTES: LEED GOLD‐2013 LEED GOLD‐2011 ENERGY LEED GOLD‐2011 ENERGY LEED GOLD‐2009 LEED GOLD‐2010 LEED GOLD‐2011 ENERGY LEED GOLD‐2010 ENERGY STAR‐2013 STAR‐2015 STAR‐2015 ENERGY STAR‐2014 ENERGY STAR‐2014 STAR‐2014 ENERGY STAR‐2015 TARGETED BUILDINGS COMPARISON CHART HOUSTON, TX ‐ CBD CLASS A BUILDING NAME & ADDRESS FULBRIGHT TOWER 1301 MCKINNEY BUILDING NUMBER 15 BUILDING RSF / # FLOORS 1,247,061 / 51 BUILDING CLASS: A YEAR BUILT: 1982/RENOVATED 1999 AVERAGE FLOORPLATE: 24,452 COMMON AREA FACTOR: 20% OCCUPANCY: 91.90% SPACE OPTIONS: SUITE 3530 ‐ 6,011 SF QUOTED RENTAL TERMS: $31.50 NNN TENANT IMPROVEMENT ALLOWANCES: $20.00 SF ESTIMATED OPERATING EXPENSES: $13.87 SF SIGNAGE: DIRECTORY 1/1,000 SF PARKING RATIO: $185‐$210/SPC/MO‐ UNRESERVED $315.00‐SPC/MO‐RESERVED ABOVENET, AT&T, COGENT, FIBER PROVIDERS: COMCAST, LEVEL 3, LOGIX, PHONOSCOPE, TW TELECOM, MCI CONFERENCING FACILITY, FITNESS CENTER, ON SITE BUILDING AMENITIES: MANAGEMENT, RESTAURANT, BANKING BUILDING SECURITY: 24/7 SECURITY BUILDING OWNER: JP MORGAN CHASE/CRESCENT ADDITIONAL NOTES: LEED GOLD‐2010 ENERGY STAR‐2014 5/7/2015 Copyrighted report licensed to Transwestern - 523890. Page 1 1600 SMITH STREET 1600 Smith Street, Houston, TX 77002 Building Information Owned & Managed Brookfield Floors 51 above grade; 2 below grade Area 1,098,399 GRA Average Floor Size 20,154 Building Class Class “A” Year Completed 1984 Parking Ratio 2,577 spaces attached 2,135 Unreserved: $200.00 425 Reserved: $283.00 First Floor VIP $350.00 Access Connected to other Cullen Center buildings by pedestrian skybridge. Connected to downtown tunnel system. Building Hours M-F, 6AM - 6PM Sat, 8AM - 1PM Leasing Information Dining & Retail Available NRA Paradise Gifts At KBR Tower: Office 179,312 Total Hair Care Southside District Food Court Retail 1,127 Chartway Federal Credit Union GreenLife Storage 1,206 Chevron Federal Credit Union Total Building 180,439 (now) Java Picks Coffee Car Butler, Car Detailing Service Jefferson’s Cafeteria Percent Leased 87% Hertz Car Share Ottos Subway Deluxe Kitchen Largest Contiguous 93,345 MiMi’s Kitchen Murphy’s Deli NET Rental Rate $27.00, $.50 annual increases Coffee Bar serving Seattle’s Best (5 years) At 600 Jefferson: 2015 Est. Expenses $16.83 Jefferson Café Remodel Allowance 5 YR: $25.00; 10 YR: $45.00 Conference Centers Rio Grande Conference Room located on 51st floor –Maximum Occupancy 83 Sabine Conference Room located on 51st floor - Maximum Occupancy 34 39th floor Conference Room located on 39th floor – Maximum Occupancy 50 Clint Bawcom, Margaret Sigur, Jon Dutton 713-651-1515 1600 Smith - F37 - Occupancy SUITE 3730 SUITE 3775 5,860 RSF 5,276 RSF FEC EDF EDF JAN D TEL/ COM ELE.
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    THE WOODLANDS KINGWOOD TOMBALL SPRING ATSCOCITA 290 HUMBLE LOCATION WILLOWBROOK 59 CYPRESS 90 6 The Heights 15 min. IAH 99 River Oaks 17 min. 45 West University Place 14 min. Memorial 23 min. 290 59 90 The Galleria 16 min. THE Tanglewood 17 min. HEIGHTS 10 KATY MEMORIAL 10 The Medical Center 19 min. 610 TANGLEWOOD RIVER DOWNTOWN THE OAKS Hobby Airport 24 m i n . GALLERIA WEST George Bush Intercontinental UNIVERSITY 27 m i n. THE Airport (IAH) PLACE MEDICAL PORT OF CENTER HOUSTON 610 Sugar Land 27 m i n. 59 Port of Houston 40 min. Trinity Bay 99 Baybrook 32 min. HOBBY AIRPORT 90 Katy 37 min. 45 Cypress 35 min. Galveston Bay 288 SUGAR LAND BAYBROOK The Woodlands 36 min. 59 6 PEARLAND Kingwood 38 min. 65,720 150,000 22 residents currently live employees work Hotels downtown downtown (2 mile radius) 11 2,936 220,000 million people attend downtown Houston new residential units people visit downtown culture and entertainment planned or under on a daily basis attractions annually construction 1.2 million 7, 300 1,500 43.7 million 1.5 million people stay in downtown hotel rooms new hotel rooms SF of existing SF of office under Houston hotels annually under construction office space construction MAJOR EMPLOYERS Franklin Franklin Lofts? Old Cotton Islamic Hermann The Corinthian Harris Exchange Dawah Center Harris Lofts County County Family Law Harris Garage Center County Foley Sally’s Hotel Icon Congress Plaza Civil Courthouse George Bush Building (Jury Assembly) House Monument Congress Market Market 1414 Square Congress Garage Square Houston Hamilton Street Sesquicentennial Harris County Ballet Park Residences Majestic 1910 Courthouse Harris County Park Metro Harris County Juvenile Justice Admin.
  • Houstonhouston

    Houstonhouston

    RealReal EstateEstate MarketMarket OverviewOverview HoustonHouston Jennifer S. Cowley Assistant Research Scientist Texas A&M University July 2001 © 2001, Real Estate Center. All rights reserved. RealReal EstateEstate MarketMarket OverviewOverview HoustonHouston Contents 2 Note Population 6 Employment 9 Job Market 10 Major Industries 11 Business Climate 13 Public Facilities 14 Transportation and Infrastructure Issues 16 Urban Growth Patterns Map 1. Growth Areas Education 18 Housing 23 Multifamily 25 Map 2. Multifamily Building Permits 26 Manufactured Housing Seniors Housing 27 Retail Market 29 Map 3. Retail Building Permits 30 Office Market Map 4. Office Building Permits 33 Industrial Market Map 5. Industrial Building Permits 35 Conclusion RealReal EstateEstate MarketMarket OverviewOverview HoustonHouston Jennifer S. Cowley Assistant Research Scientist Aldine Jersey Village US Hwy 59 US Hwy 290 Interstate 45 Sheldon US Hwy 90 Spring Valley Channelview Interstate 10 Piney Point Village Houston Galena Park Bellaire US Hwy 59 Deer Park Loop 610 Pasadena US Hwy 90 Stafford Sugar Land Beltway 8 Brookside Village Area Cities and Towns Counties Land Area of Houston MSA Baytown La Porte Chambers 5,995 square miles Bellaire Missouri City Fort Bend Conroe Pasadena Harris Population Density (2000) Liberty Deer Park Richmond 697 people per square mile Galena Park Rosenberg Montgomery Houston Stafford Waller Humble Sugar Land Katy West University Place ouston, a vibrant metropolitan City Business Journals. The city had a growing rapidly. In 2000, Houston was community, is Texas’ largest population of 44,633 in 1900, growing ranked the most popular U.S. city for Hcity. Houston was the fastest to almost two million in 2000. More employee relocations according to a growing city in the United States in the than four million people live in the study by Cendant Mobility.
  • Offering Summary Investment Overview

    Offering Summary Investment Overview

    HOUSTON DOWNTOWN OFFERING SUMMARY INVESTMENT OVERVIEW HFF is pleased to offer on an exclusive basis the opportunity to acquire the fee-simple interest in the 350-room Doubletree Downtown Houston (“Property” or “Hotel”), prominently situated within Allen Center – an institutional-quality mixed-use office/retail/hotel complex – in the Houston CBD. The Hotel is strategically located near many of Houston’s top demand drivers including the George R. Brown Convention Center, Minute Maid Park (home of the Houston Astros), Toyota Center (home of the Houston Rockets) and over 51 million square feet of office space within a 1-mile radius. Many of the Fortune 500 companies located in Houston are within blocks of the Property, including Deloitte, Chevron and KBR. The Property is being offered fully unencumbered from both brand and management, presenting the next owner with a completely blank slate. With an irreplaceable location within Houston’s CBD core and strong in-place cash flow, the DoubleTree offers investors a unique, unencumbered opportunity with tremendous upside potential. INVESTMENT HIGHLIGHTS UNIQUE DOWNTOWN HOUSTON LOCATION The Property boasts an enviable location within Allen Center in Houston’s CBD, benefiting from downtown’s diversified demand base – not only corporate but also convention, sports, leisure, culture, medical, university/ education – and pedestrian friendly environment. This ideal mix of demand drivers has allowed the CBD to TWO ALLEN CENTER 1 MILLION SF continually outperform Houston’s overall market, as well as the
  • Protected Landmark Designation Report

    Protected Landmark Designation Report

    CITY OF HOUSTON Archaeological & Historical Commission Planning and Development Department PROTECTED LANDMARK DESIGNATION REPORT LANDMARK NAME: The Angelo and Lillian Minella House AGENDA ITEM: IV OWNER: Ben Koush HPO FILE NO.: 06PL20 APPLICANT: Ben Koush DATE ACCEPTED: Feb-13-06 LOCATION: 6328 Brookside Drive – Simms Woods Addition HAHC HEARING DATE: Feb-23-06 30-DAY HEARING NOTICE: N/A PC HEARING: Mar-02-06 SITE INFORMATION Lot 12, Block 6, Simms Woods Addition, City of Houston, Harris County, Texas. The site includes a historic one-story, concrete block residence and concrete block garage. TYPE OF APPROVAL REQUESTED: Protected Landmark Designation for residence and garage. HISTORY AND SIGNIFICANCE SUMMARY The Minella House is a significant example of modern, residential architecture as it evolved in mid- twentieth century Houston. It is significant because of its unusual all masonry construction, contemporary design by Houston architect, Allen R. Williams, Jr. It is an example of the Century Built Homes, variations on a standark design, of which the Minella House seemed to be most fully resolved. Its owners, Angelo and Lillian Minella, owned and operated a plumbing supply company in the East End for decades. HISTORY AND SIGNIFICANCE Lillian and Angelo Minella were originally from the Boston area. Minella worked as a plumber at 366-374 Washington Street in the 1930s in the Brighton Center, Massachusetts commercial area, which had a large Italian-American population.i As late as 1942 Angelo and Lillian were listed in the Essex County City Directory as living on Stanwood Avenue in Gloucester, Massachusetts.ii The Minellas probably left for Texas shortly thereafter.