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24 HOUR FITNESS 14111 Southwest Fwy Sugar Land, TX 77478 (Houston MSA) TABLE of CONTENTS

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24 HOUR FITNESS 14111 Southwest Fwy Sugar Land, TX 77478 (Houston MSA) TABLE of CONTENTS NET LEASE INVESTMENT OFFERING 24 HOUR FITNESS 14111 Southwest Fwy Sugar Land, TX 77478 (Houston MSA) TABLE OF CONTENTS TABLE OF CONTENTS I. Executive Profile II. Location Overview III. Market & Tenant Overview Executive Summary Photographs Demographic Report Investment Highlights Aerial Market Overview Property Overview Site Plan Tenant Overview Map NET LEASE INVESTMENT OFFERING DISCLAIMER STATEMENT DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential. STATEMENT: It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NET LEASE INVESTMENT OFFERING EXECUTIVE SUMMARY EXECUTIVE The Boulder Group is pleased to exclusively market for sale a single tenant net leased 24 Hour Fitness property SUMMARY: located within the Houston MSA in Sugar Land, Texas. 24 Hour Fitness recently renewed their lease for an additional ten years, demonstrating their commitment to the location. The lease is absolute triple net with zero landlord responsibilities. There are 297,446 people living within five miles of the property earning an average household income of $105,332. The 47,991 square foot building is strategically positioned along Interstate 69 (198,509 VPD) which leads to downtown Houston and numerous retailers and offices. The 24 Hour Fitness property is just north of Sugar Land Town Square. Sugar Land Town Square consists of office space, condominiums, retail stores, restaurants, and a hotel (Sugar Land’s City Hall and the corporate headquarters of Minute Maid, CVR Energy and the North American operations of the Cosentino Group). Retailers in the trade corridor consist of Target, Lowe’s, Whole Foods, Kroger and First Colony Mall (Dillard’s, Macy’s, Dick’s Sporting Goods, JCPenney, AMC, Apple). The property is also near CHI St. Luke’s Health–Sugar Land Hospital (100 beds) and Houston Methodist Sugar Land Hospital (305 Beds). Additionally, the property is adjacent a large UnitedHealthcare office. The subject property has a strong residual land value due to its frontage location along Interstate 69 and its close proximity to other high-rise offices. The subject property is a corporate 24 Hour Fitness location. 24 Hour Fitness is the world’s largest (by memberships) privately owned and operated fitness center chain, and third in number of clubs behind Gold’s Gym and Fitness First of the UK. 24 Hour Fitness is the perfect gym for people who want it all: the best fitness classes, premium gym amenities and much more. In May 2014, 24 Hour Fitness Worldwide Inc. was sold to a group of investors for $1.85 billion to an investment group led by AEA Investors LP and the Ontario Teachers’ Pension Plan. NET LEASE INVESTMENT OFFERING INVESTMENT HIGHLIGHTS INVESTMENT • Located within the Houston MSA HIGHLIGHTS: • 24 Hour Fitness recently renewed their lease for an additional ten years, demonstrating their commitment to the location • The subject property is a corporate 24 Hour fitness location • Absolute triple net with zero landlord responsibilities • 297,446 people living within five miles of the property earning an average household income of $105,332 • Strategically positioned along Interstate 69 (198,509 VPD) which leads to downtown Houston and numerous retailers and offices • Located just north of Sugar Land Town Square which consist of office space, condominiums, retail stores, restaurants, and a hotel • Retailers in the trade corridor consist of Target, Lowe’s, Whole Foods, Kroger and First Colony Mall (Dillard’s, Macy’s, Dick’s Sporting Goods, JCPenney, AMC, Apple) • Near CHI St. Luke’s Health–Sugar Land Hospital (100 beds) and Houston Methodist Sugar Land Hospital (305 Beds) • Strong residual land value NET LEASE INVESTMENT OFFERING PROPERTY OVERVIEW PROPERTY Price: $9,960,844 OVERVIEW: Cap Rate: 6.75% Net Operating Income: $672,357 Renewal Options: Two 5-Year Renewal Option Rent: FMV Lease Expiration Date: March 31, 2029 Year Built: 1994 Lease Type: Absolute NNN Building Size: 47,991 SF Land Size: 4.98 AC Tenant: 24 Hour Fitness USA, Inc. (Corporate) NET LEASE INVESTMENT OFFERING PHOTOGRAPHS NET LEASE INVESTMENT OFFERING AERIAL NET LEASE INVESTMENT OFFERING SITE PLAN NET LEASE INVESTMENT OFFERING MAP NET LEASE INVESTMENT OFFERING MAP NET LEASE INVESTMENT OFFERING DEMOGRAPHIC REPORT DEMOGRAPHIC Population 1-Mile 3-Mile 5-Mile REPORT: Total Population 4,789 95,838 297,446 Total Households 2,011 35,009 97,965 Income 1-Mile 3-Mile 5-Mile Average Household Income $170,786 $111,868 $105,332 NET LEASE INVESTMENT OFFERING MARKET OVERVIEW MARKET Sugar Land, Texas OVERVIEW: Sugar Land is a city in Fort Bend County, Texas, United States, located in the southwestern part of the Houston–The Woodlands–Sugar Land metropolitan area. Located approximately 19 miles southwest of Downtown Houston, Sugar Land is a populous suburban municipality centered around the junction of Texas State Highway 6 and U.S. Route 59. Beginning in the 19th century, the present-day Sugar Land area was home to a large sugar plantation situated in the fertile floodplain of the Brazos River. Following the consolidation of local plantations into Imperial Sugar Company in 1908, Sugar Land grew steadily as a company town and incorporated as a city in 1959. Since then, Sugar Land has grown rapidly alongside other edge cities around Houston, with large-scale development of master-planned communities contributing to population swells since the 1980s. Sugar Land is one of the most affluent and fastest-growing cities in Texas. Its population increased more than 158 percent between 1990 and 2000. Between 2000 and 2007, Sugar Land also saw a 46% increase in jobs. Sugar Land is home to the headquarters of Imperial Sugar; the company’s main sugar refinery and distribution center were once located in the city. The Imperial Sugar crown logo is featured in the city seal and logo. MARKET OVERVIEW MARKET Houston, Texas OVERVIEW: Houston is the most populous city in the state of Texas and the fourth-most populous city in the United States. With a population of more than 2.3 million people within an area of 667 square miles, it is also the largest city in the southern United States and the seat of Harris County. Located in Southeast Texas near the Gulf of Mexico, it is the principal city of the Greater Houston metro area, which is the fifth-most populated MSA in the United States. Houston was founded on 1836 near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city in June 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-20th century, Houston became the home of the Texas Medical Center—the world’s largest concentration of healthcare and research institutions—and NASA’s Johnson Space Center, where the Mission Control Center is located. Houston’s economy has a broad industrial base in energy, manufacturing, aeronautics, and transportation. Leading in health care sectors and building oilfield equipment, outside New York City, Houston has more Fortune 500 headquarters than any other U.S. municipality within its city limits. The Port of Houston ranks first in the United States in international water- borne tonnage handled and second in total cargo tonnage handled. Nicknamed the “Space City”, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine, and research. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts. www.houstontx.gov TENANT OVERVIEW TENANT 24 Hour Fitness OVERVIEW: 24 Hour Fitness is the world’s largest (by memberships) privately owned and operated fitness center chain, and third in number of clubs behind Gold’s Gym and Fitness First of the UK. 24 Hour Fitness is the perfect gym for people who want it all: the best fitness classes, premium gym amenities and much more. As the company name implies, the centers are open 24 hours a day, seven days a week. In May 2014, 24 Hour Fitness Worldwide Inc. was sold to a group of investors for $1.85 billion to an investment group led by AEA Investors LP and the Ontario Teachers’ Pension Plan. Type: Private Website: www.24hourfitness.com Founded: 1983 Number of Locations: 400+ Headquarters: San Ramon, California Randy Blankstein President 847.562.0003 [email protected] Jimmy Goodman Partner 847.562.8500 [email protected] 3520 Lake Avenue, Suite 203 Wilmette, IL 60091 www.bouldergroup.com.
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