IN THE HEART OF THE ENERGY CORRIDOR 2ND GEN RESTAURANT & SHOPPING CENTER NEAR ELDRIDGE PKWY & BRIAR FOREST DR, HOUSTON, TEXAS
1400 ELDRIDGE PARKWAY North of Briar Forest Drive, Houston ,Texas 77077
The information contained herein was obtained from sources deemed reliable; however, Blue Ox Brokerage, LLC makes no guarantees, warranties, or representations as to the accuracy or completeness thereof. The presentation of this property is subject to errors, omissions, change of price, prior sale or lease, or withdrawal without notice. 1400 ELDRIDGE PKWY
1400 Eldridge Parkway Houston, Texas 77077
CONFIDENTIAL OFFERING MEMORANDUM
OFFERED BY Burdette Huffman | 713.807.8558 [email protected]
Josh Jacobs | 713.230.8882 [email protected]
THEBLUEOXGROUP.COM
The information contained herein was obtained from sources deemed reliable; however, Blue Ox Brokerage, LLC makes no guarantees, warranties, or representations as to the accuracy or completeness thereof. The presentation of this property is subject to errors, omissions, change of price, prior sale or lease, or withdrawal without notice. TABLE OF CONTENTS
EXECUTIVE SUMMARY ...... 5
THE PROPERTY ...... 7 PROPERTY DETAILS ...... 8 LOCATION MAP ...... 9 AERIALS ...... 10 SITE PLAN ...... 12 INTERIOR PHOTOS ...... 13
THE MARKET ...... 14 MARKET OVERVIEW ...... 15 DEMOGRAPHICS ...... 17
DISCLAIMER ...... 18
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 3 PROPERTY OVERVIEW
PROPERTY GLA LAND SIZE 1400 ELDRIDGE PARKWAY ±12,405 .98 AC / 42,683 SF LOCATION PRICE YEAR BUILT North of Briar Forest Dr $2,600,000 2007 Houston, Texas 77077
OVERVIEW • Prime Location: Sitting just north of the intersection of • Major Employment Hub: Located within Houston’s Energy Corridor, Eldridge Parkway and Briar Forest Dr., the property is well Houston’s third largest business district with over 19 million square feet located within the main retail corridor for the trade area. of office, the Property benefits from 207 business headquarters and • Strong Demographics: This dense submarket is surrounded 197,000+ employees within a five-mile radius. by established, affluent neighborhoods, boasting a population • Restaurant End-User Opportunity: The Property offers an investment in excess of 291,000 people and average household incomes opportunity at below replacement cost for a restaurant end-user. over $100,000. Additionally, as a fully built-out restaurant, the Property contains nearly • Potential Infill Redevelopment: Due to the high barriers of one million dollars of valuable FF&E, which could be utilized or liquidated. entry to the market and the lack of available land, the Property presents a unique opportunity for an infill development in an affluent trade area.
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 4 EXECUTIVE SUMMARY EXECUTIVE SUMMARY
GLA: ±12,405 SF CORE INVESTOR MARKET LOCATION The fourth largest city in the nation, Houston is 1400 Eldridge Parkway is located along Eldridge Parkway, LAND: .98 AC / 42,683 SF a core market and is the 2nd fastest growing one of west Houston’s primary north-south thoroughfares. economy in the United States. With over 2.1 The Property benefits from exposure to ±30,000 cars per PRICE: million residents added since 2000, Houston day along Eldridge Parkway. Additionally, the property $2,600,000 has enjoyed tremendous growth and boasts has dedicated monument signage which provides added a population of 7+ million residents. Houston visibility to cars traveling along Eldridge Parkway. enjoys the status of being the economic and The Property is surrounded by dense, affluent cultural hub of the entire Gulf Region. neighborhoods with over 55,000 households and an average home value of $391,000 within 3 miles. Additionally, the Property is located adjacent to West INVESTMENT OPPORTUNITY Briar Middle School, with a current enrollment of over 1400 Eldridge Parkway (“Property”) is a well- 1,070 students. Located within the Energy Corridor positioned, second generation restaurant employment hub, the property is supported by a dense located along Eldridge Parkway, just north population of 292,000+ people and a daytime population LOCATED WITHIN HOUSTON’S of Briar Forest Drive in Houston Texas. The of over 332,000 people within 5 miles. Major retailers surrounding area is heavily supported by a ENERGY CORRIDOR, A NATIONALLY in the immediate vicinity include Kroger, LA Fitness number of corporate headquarters and offices RECOGNIZED EMPLOYMENT HUB and Starbucks, as well as 90 company headquarter in the vicinity including Citgo, Sysco, Dow businesses within a 3-mile radius. Chemical, Gulf States Toyota and Cardinal Healthcare. The trade area is supported by a strong population that is projected to increase SECOND GENERATION RESTAURANT annually by 1.2% through 2023. IDEAL END - USER OPPORTUNITY
332,000+ DAYTIME POPULATION WITHIN 5 MILE RADIUS
$119,000+ AVERAGE HOUSEHOLD INCOME WITHIN 1 MILE OF SITE
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 6 THE PROPERTY PROPERTY DETAILS
ADDRESS: 1400 ELDRIDGE PKWY, HOUSTON, TEXAS 77077 LAND AREA: .98 AC / 42,683 SF GLA: 12,405 SF YEAR BUILT: 2007
OCCUPANCY: 100% VACANT TRAFFIC COUNTS: ELDRIDGE PKWY: 30,529 VPD NORTH OF SITE 29,204 VPD SOUTH OF SITE BRIAR FOREST DR: 20,557 VPD
DEMOGRAPHIC SNAPSHOT 1 MILE 3 MILE 5 MILE
TOTAL POPULATION 22,841 116,247 292,989 5 YEAR PROJ. GROWTH 10.45% 7.55% 7.15% DAYTIME POPULATION 23,754 139,201 332,655 TOTAL HOUSEHOLDS 11,534 55,441 126,990 AVERAGE HH INCOME $119,104 $109,009 $101,696 MEDIAN AGE 38.9 37.2 35.8
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 8 LOCATION MAP
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 9 AERIAL
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 10 AERIAL
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 11 SITE PLAN
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 12 PROPERTY PHOTOS
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 13 PROPERTY PHOTOS
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 13 THE MARKET MARKET OVERVIEW - TEXAS
POPULATION FORT WORTH TOP 20 LARGE U.S. CITIES 29,104,064 TO START A BUSINESS 2018 DALLAS #1 FASTEST GROWING MSA 2019 #5 BEST PERFORMING CITIES IN U.S. nd 2 FASTEST GROWING ECONOMY HOUSTON IN THE U.S. #2 TOP U.S. METROS FOR JOB GROWTH 2019 #2 METROS WITH MOST CORPORATE HEAD-QUARTERS
TOP STATE FOR JOB GROWTH AUSTIN #1 BEST PLACE IN AMERICA TO 342,800 JOBS CREATED IN 2019 START A BUSINESS 2019 #3 BEST PERFORMING CITIES IN U.S.
LARGEST CIVILIAN SAN ANTONIO nd #1 BEST CITY FOR VETERANS 2019 LABOR WORKFORCE 2 13+ MILLION WORKERS
LARGEST MEDICAL CENTER FORTUNE 500 OVER 30,000 COMPANIES TEXAS MEDICAL CENTER, HOUSTON COMPANIES HAVE LOCATED OR EXPANDED 48 CALL TEXAS HOME FACILITIES IN TEXAS SINCE 2009 2ND LARGEST CANCER CENTER MD ANDERSON, HOUSTON
BEST STATE FOR BUSINESS AWARDED 2018 GOVERNOR’S CUP N O STAT E FOR THE 14TH YEAR IN A ROW BY FOR THE MOST NEW & EXPANDED CHIEF EXECUTIVE MAGAZINE CORPORATIONS INCOME TAX
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 15 MARKET OVERVIEW - HOUSTON MSA
POPULATION th RETAIL MARKET 4 LARGEST 7,000,000 CITY IN THE UNITED STATES OVER $126 BILLION GROSS ANNUAL RETAIL SALES FORTUNE 500 WITHIN THE TEXAS COMPTROLLER DATA, 2019 COMPANIES TOP 10 CITIES 21 BASED IN HOUSTON FOR JOB GROWTH 94.5% 4,550,000 SF OCCUPANCY RATE 12 MO. NET ABSORPTION % HOME SALE PRICES UP 2.4 OVER THE LAST 12 MONTHS 3,345,000 SF 398,018,000 SF UNDER CONSTRUCTION TOTAL INVENTORY (1% OF TOTAL INVENTORY) COSTAR DATA, FEBRUARY 2020 ENERGY CAPITAL OF THE WORLD HOME TO 39 OF THE NATION’S LARGEST PUBLICLY TRADED OIL AND GAS EXPLORATION & PRODUCTION FIRMS LARGEST EMPLOYERS
MEMORIAL HERMANN HEALTH SYSTEM 24,108 EMPLOYEES THE UNIVERSITY OF TEXAS MD TEXAS MEDICAL CENTER 21,086 EMPLOYEES ANDERSON CANCER CENTER LARGEST MEDICAL COMPLEX IN THE WORLD HOUSTON METHODIST 20,000 EMPLOYEES PORT OF HOUSTON 68% UNITED AIRLINES 14,941 EMPLOYEES LARGEST PORT ON THE GULF U.S GULF COAST SCHLUMBERGER 12,069 EMPLOYEES & 2ND LARGEST IN THE U.S. CONTAINER TRAFFIC GENERATES $5.6 BILLION I N STAT E PASSES THROUGH THE SHELL OIL COMPANY 11,507 EMPLOYEES AND LOCAL REVENUE PORT OF HOUSTON EXXONMOBILE 11,000 EMPLOYEES
58 MILLION AIRLINE PASSENGERS TEXAS CHILDREN’S HOSPITAL 10,992 EMPLOYEES GEORGE BUSH INTERCONTINENTAL AIRPORT: SERVES OVER 170 DESTINATIONS WITH NONSTOP FLIGHTS HCA 10,830 EMPLOYEES HOBBY AIRPORT: NOW SERVES NEARLY 60 DESTINATION
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 16 DEMOGRAPHIC REPORT 1400 Eldridge Pkwy, Houston, Texas, 77077 2 Prepared by Esri DEMOGRAPHICS 1400 Eldridge Pkwy, Houston, Texas, 77077 Latitude: 29.76067 Rings: 1, 3, 5 mile radii Longitude: -95.62596
1 mile 3 miles 5 miles POPULATION SUMMARY 2020 Total Population 22,841 116,247 292,989 2020 Total Daytime Population 23,754 139,201 332,655 2020-2025 Population: Annual Growth Rate 2.09% 1.51% 1.43% 2025 Total Population 25,335 125,305 314,566 2020 Female Population 11,698 60,122 150,936 2020 Male Population 11,143 56,125 142,053 2020 Median Age 38.9 37.2 35.8 BUSINESS SUMMARY 2020 Total Employees 7,707 72,866 173,237 2020 Total Businesses 662 5,868 14,667 2020 White Collar Employees 84.8% 77.9% 69.9% HOUSEHOLD INCOME SUMMARY 2020 Average Household Income $119,104 $109,009 $101,696 2020 Median Household Income $76,346 $71,556 $62,290 2020 Per Capita Income $56,041 $47,483 $39,951 HOUSEHOLD SUMMARY 2020 Total Housing Units 11,534 55,441 126,990 2020 Owner Occupied Housing Units 34% 38% 41% 2020 Renter Occupied Housing Units 66% 62% 59% RACE AND ETHNICITY Total 22,841 116,247 292,989 White Alone 57.2% 52.4% 46.6% Black Alone 12.8% 20.5% 21.6% American Indian Alone 0.3% 0.4% 0.4% Asian Alone 21.2% 15.0% 16.9% Pacific Islander Alone 0.0% 0.1% 0.1% Some Other Race Alone 4.5% 7.3% 10.3% Two or More Races 3.9% 4.4% 4.1% Hispanic Origin 19.9% 24.7% 30.2%
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 17
Source: Esri, Esri and Infogroup
July 01, 2020
Page 1 of 1 DISCLAIMER
Blue Ox Brokerage, LLC exclusively presents the listing of 1400 Eldridge Parkway (“Property”) for your acquisition. The owner is offering for sale the Property through its exclusive listing with the team. Blue Ox Brokerage, LLC and owner provides the material presented herein without representation or warranty. A substantial portion of information must be obtained from sources other than actual knowledge and not all sources can be absolutely confirmed. Moreover, all information is subject to changes by the parties involved as to price or terms before sale, to withdrawal of the Property from the market, and to other events beyond the control of Blue Ox Brokerage, LLC or owner. No representation is made as to the value of this possible investment other than hypothetical scenarios. It is encouraged that you or any of your affiliates consult your business, tax and legal advisors before making a final determination of value or suitability of the Property for acquisition. As a condition of Blue Ox Brokerage, LLC’s consent to communicate the information contained herein– as well as any information that may be communicated to you subsequently either verbally or in writing by Blue Ox Brokerage, LLC, owner or agents of either of these parties regarding the Property – it is required that you agree to treat all such information confidentially.
THEBLUEOXGROUP.COM 1400 Eldridge Parkway | 18 1400 ELDRIDGE PKWY
1400 Eldridge Parkway Houston, Texas 77077
CONFIDENTIAL OFFERING MEMORANDUM As of July 1, 2020
OFFERED BY Burdette Huffman | 713.807.8558 [email protected]
Josh Jacobs | 713.230.8882 [email protected]
THEBLUEOXGROUP.COM
The information contained herein was obtained from sources deemed reliable; however, Blue Ox Brokerage, LLC makes no guarantees, warranties, or representations as to the accuracy or completeness thereof. The presentation of this property is subject to errors, omissions, change of price, prior sale or lease, or withdrawal without notice.