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Houston, Texas • Investment Opportunity

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Houston, Texas • Investment Opportunity HOUSTON, TEXAS • INVESTMENT OPPORTUNITY IH 10 POST OAK PLAZA POST OAK CENTER CENTRE AT POST OAK SA GE RO IH 610 RICE P AD OS AVENUE T OA K B O WINDSOR PLAZA SHOPPING CENTER U L E V A AVENUE RICHMOND SQUARE A R RICHMOND R D D WESTP ARK DRIVE U.S. 59 Y WESTP ARK TOLLWA S. RICE AVE HOUSTON, TEXAS • INVESTMENT OPPORTUNITY RYAN WEST COLER YOAKAM MARK WEST Managing Director Managing Director Senior Managing Director Phone (713) 852-3535 Phone (469) 232-1982 Phone (469) 232-1974 [email protected] [email protected] [email protected] FOR DEBT INQUIRIES COLBY MUECK Director Phone (713) 852-3575 [email protected] 9 Greenway Plaza Suite 700 Houston Texas 77046 Phone (713) 852-3500 Fax (713) 852-3490 www.hfflp.com WAL-MART SUPERCENTER / / EXECUTIVE SUMMARY EXECUTIVE SUMMARY der Constructio Grand Pkwy Un n 69 LIBERTY Lake COUNTY Houston State Park struction MONTGOMERY on C er ExxonMobil d COUNTY n Corporate Headquarters U y w k Eastex Frwy P LOCATION MAP nd ra G INVESTMENT HARRIS COUNTY Proposed3 George Bush Intercontinental Airport Grand Pkwy OVERVIEW Sam Houston Pkwy Lake LOCATION SEC of Westpark Tollway & South Rice Avenue Houston Hardy Toll Road 69 Harris County, Houston, Texas 77081 Northwest Frwy North Frwy Sheldon NOI Execute a Confidentiality Agreement to See Full Offering Memorandum Reservoir Beaumont Hwy BUILDING ±177,514 SF North Loop Baytown East Frwy Katy Frwy LAND AREA ±16.39 Acres CITYCENTRE Downtown George Bush Park Westheimer Rd Galleria San East Loop PARKING SPACES ±710 Spaces 69 Jacinto Bay Westpark Tollway Texas Pasadena Frwy Medical West Loop West Center YEAR BUILT Completion Q2 2015 (±May) Loop Southwest Frwy South TYPE OF OWNERSHIP Fee-Simple FORT BEND 69 William COUNTY P. Hobby Galveston Pkwy Airport Bay TENANT Wal-Mart Stores Texas, LLC Sam Houston Tollway Bend Gulf Frwy Armand Bayou Park GUARANTOR Wal-Mart Stores, Inc. Fort South Frwy Clear Lake LEASE TYPE Double Net Lease Smithers ROOF AND STRUCTURE Landlord Responsible for Structure Lake GALVESTON Tenant Maintains Roof Membrane COUNTY BRAZORIA Proposed Grand Pkwy COUNTY RENT COMMENCEMENT Q3 2015 (±July) LEASE EXPIRATION 20 Years after Commencement Date TERM REMAINING ON LEASE 20 Years OPTIONS Execute a Confidentiality Agreement to See Full Offering Memorandum Representative Image DEBT None | Available for New Market Rate Financings WAL-MART SUPERCENTER / / EXECUTIVE SUMMARY EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS 4 • Urban Infill Retail Development Less than One Mile from Houston’s World Famous Galleria Mall • One-of-a-kind Opportunity to Secure a “Generational Hold” type Asset near Land Value • Newly Developed Wal-Mart on 16.39 Acres with Lease Term of 20 Years | Guaranteed by Wal-Mart Stores, Inc. (NYSE: WMT), the World’s Largest Employer • National Credit Tenant AA rating by Standard & Poor’s | Ranked #1 in Fortune 500 Companies • Situated at the Corner of Westpark Drive & South Rice with additional Visibility From U.S. Highway 59 & Westpark Tollway • Close Proximity and Easy Access to 610 Loop and Located Across from Existing and Proven Sam’s Club Representative Image • The Galleria Mall is the #1 Shopping and Tourist Destination in Houston with more than 24 million Visitors Annually • Densely Populated Trade Area Exceeding 209,553 Residents within a Three-Mile Radius • Situated within a Top Submarket in one of the most Dominant Economies in the Nation, with Thriving Energy, Financial, Manufacturing, Medical, and Shipping Industries Representative Image Representative Image WAL-MART SUPERCENTER / / EXECUTIVE SUMMARY EXECUTIVE SUMMARY GALLERIA | UPTOWN DISTRICT AREA OVERVIEW OFFICE Wal-Mart Supercenter is located less than one mile from Houston’s premier mall, The Galleria. Centrally • One of the largest business districts in the nation, ranked 15th overall in the US in terms of office space located and spanning approximately 500 acres, the Galleria/Uptown District is approximately ten miles • 32.2 million square feet of commercial office space and 16.4% of Houston’s total Class A office space, west of downtown Houston. Anchored by Post Oak Boulevard, alongside Memorial Park, and flanked by the with over 18.5 million square feet, second only to Downtown Houston world-famous Galleria, the District is home to 23 million square feet of commercial office space, five million • The Galleria/Uptown District averaged 87.0% occupancy as of 4Q 2013 (88.1% for Class A space), and square feet of retail space, 7,100 hotel rooms, more than 100 restaurants, and a booming residential 5 market. More than 200,000 international business professionals, fashionistas, city dwellers and tourists had the second highest average asking rent of $28.94, just behind Houston’s CBD. from around the globe converge in the area daily. Defined by its unique blending of prestigious business • Signature buildings designed by the world’s leading architects including Lakes on Post Oak, Post Oak and residential addresses with the best in shopping, dining, and entertainment, the Galleria/Uptown District Central, Four Oaks Place, Four Leaf Towers, the Galleria and the 64-story Williams Tower are among is one of the world’s leading urban districts offering a true live / work / play environment and hosts more Houston’s most famous architectural landmarks. than 24 million visitors annually. • Home to approximately 2,000 companies ranging from small-to-large sized commercial businesses, The Galleria/Uptown District is the 3rd largest employment center in Houston employing over 83,000 people within its boundaries, and representing a variety of diverse industries including prominent energy, financial, real estate and professional services companies Hyatt Regency Galleria Rendering Williams Tower The Galleria Mall HOTELS/TOURISM • The Galleria/Uptown District is the most sought-after tourist destination in the city, and The Galleria, RETAIL itself, is the number one shopping and tourist attraction in Houston and the southwest. • The Galleria/Uptown District offers more than five million square feet of gross leasable retail space, more than any other retail destination in Houston. • The area hosts more than 24 million visitors from all over the world each year. • With 2.4 million square feet and more than 400 stores and restaurants, The Galleria is ranked as the • It is the largest hotel district in Houston with 31 hotels and more than 7,100 rooms, greater than 10% fourth largest retail complex in the country. The Galleria is anchored by two Macy’s, Neiman Marcus, of Houston’s total rooms. Nordstrom, and Saks Fifth Avenue and averages approximately $900 in sales per square foot. • $274 million in hotel room revenue annually and the highest RevPAR (Revenue per Available Room) in • Annual retail sales exceed $4.73 billion, making it the highest volume of any retail shopping district in Houston with room rates that exceed $150 on average, and average occupancy exceeding 77%. the metropolitan area and accounts for more than 10% of the entire taxable retail sales for the City of • Songy Highroads and the Carlyle Group recently began the construction on a new 325-room Hyatt Houston. Regency hotel at the corner of Sage Rd. and West Alabama Road, immediately adjacent to The Galleria • Home to the largest number of couture retailers in the city including Bulgari, Giorgio Armani, Hermes, Mall, which will be the first full service luxury hotel built within the galleria area in the last twenty years Versace, and Yves Saint Laurent DEMOGRAPHICS 1 MILE RADIUS 3 MILE RADIUS HOUSTON MSA • With over 100 restaurants, it is the premier dining and entertainment area of Houston. The area offers 2014 Estimated Population 22,801 209,553 6.7 MM % College Education 70.0% 71.0% 56.1% rich, diverse dining options and is the location of five of the nine AAA ranked “4 Diamond Restaurants” 2014 Est. Ave. Household Income $80,658 $101,832 $78,283 in Houston. 2014 Est. Median Housing Value $321,852 $418,547 $145,023 WAL-MART SUPERCENTER / / PROPERTY OVERVIEW SITE PLAN Sage Road 59 OVERVIEW PROPERTY ay 59 Highw Westpark Tollway to Post Oak Blvd ay estpark Drive Westpark Tollw W Westpark Drive ollway Westpark T 6 33,000 SF (NAP) (NAP) 0 (NAP) 120 Rooms 1 6 (NAP) e t a t s S. Rice Ave Rice S. r e t n I (NAP) Dental (NAP) Retail / Prof. Building Walmart 8,000 SF 177,500 SF (NAP) (NAP) WAL-MART SUPERCENTER / / PROPERTY OVERVIEW GALLERIA /UPTOWN PROPERTY OVERVIEW PROPERTY The Galleria/Uptown district is home to 23 million square feet of In Addition, the world famous Galleria Mall encompasses 2.4 DISTRICT commercial office space, five million square feet of retail space, 7,100 million square feet and is anchored by two Macy’s, Neiman Marcus, hotel rooms, more than 100 restaurants, and a booming residential Nordstrom, and Saks Fifth Avenue and averages approximately $900 market. More than 200,000 international business professionals, in sales per square foot. It is also home to the largest number of OVERVIEW fashionistas, city dwellers and tourists from around the globe couture retailers in the city including Bulgari, Giorgio Armani, Hermes, converge in the area daily. Defined by its unique blending of prestigious Versace and Yves Saint Laurent. business and residential addresses with the best in shopping, dining, 7 and entertainment, the Galleria/Uptown District is one of the world’s leading urban districts offering a true live / work / play environment and hosts more than 24 million visitors annually. The area benefits from unparalleled accessibility being located along the western frontage of the West Loop (IH 610). In fact, The Galleria/ Uptown District’s proximity to this 15-lane highway, one of Houston’s most heavily trafficked, is a major cause for its success. The area also features exceptional access being bordered by both the Southwest Freeway (US 59) and Westpark Tollway to the south and by the Katy Wal-Mart Supercenter will be positioned directly adjacent to the Freeway (IH 10) to the north.
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