±10 ACRES ENERGY CORRIDOR HOUSTON, TEXAS | EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P
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±10 ACRES ENERGY CORRIDOR HOUSTON, TEXAS | EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp., a Texas licensed real estate broker (“HFF”). CBD GALLERIA MEMORIAL VILLAGES MEMORIAL CITY MALL CITYCENTRE TECHNIP SHELL DAIRY ASHFORD ROAD CONOCOPHILLIPS WORLEY PARSONS ADDICKS DAM ROAD ADDICKS DAM ROAD CONOCOPHILLIPS FOSTER WHEELER IH - 10 | KATY FREEWAY N ELDRIDGE PARK WAY OMNI HOTEL ADDICKS ±10 ACRES RESERVOIR ENERGY CORRIDOR P A R K TERRY HERSHEY PARK BLACKHAW ST R O W D R TERRY HERSHEY EXTENSION INVESTMENT SUMMARY HFF is pleased to offer qualif ied investors an exceptional opportunity to develop ±10 acres located Address: 1101 - 1124 Blackhaw St and 1101 - 1125 Redhaw St just off I-10 on Park Row, between Redhaw Street and Terry Hershey Park (“the Property”) in Size: ±10 acres Houston, Texas. The Property is an exceptional site due to its location in the Energy Corridor, no floodplain, view corridors, and direct access to all of the amenities of Terry Hershey Park and the Current Use: Vacant Land Addicks Reservoir. This offering represents a tremendous opportunity to acquire a highly visible Multi-family, hotel, office, medical, or senior living Proposed Use: site that is ideal for multi-family, off ice, hotel, medical, or senior living development. development The Opportunity The site is approximately ±10 acres and is located off of Interstate 10 on Park Row in the Energy Corridor. The Energy Corridor is West Houston’s Central Business District and one of Houston’s largest employment center with 105,090 employees. Its growth trajectory suggests nearly 10 times more jobs than housing units will be added to this area over the next 13 years. Residents are zoned to Katy ISD, the #1 school district in the Houston MSA. The future development on the site will offer fantastic view corridors and access to I-10, which has traffic counts of more than 305,000 vehicles per day. The Woodlands Grand Pkwy 69 Lake Houston ±195’ ±370’ State Park ExxonMobil Corporate Headquarters Eastex Frwy Proposed Greenspoint Grand Pkwy Sam Houston Pkwy Lake Houston 69 Northwest Frwy North Frwy Sheldon Reservoir ±3.5 ±6.8 REDHAWREDHAW STREETSTREET ±10 ACRES BLACKHAWBLACKHAW STREETSTREET ENERGY CORRIDOR ACRES ACRES Westbelt Beaumont Hwy North Loop Baytown East Frwy Energy Corridor The Galleria CBD George Bush Westchase ±800’±800’ ±800’±800’ ±800’±800’ Park Westheimer Rd Uptown District Greenway San East Loop Port of Houston Jacinto Bay Westpark Tollway Texas Pasadena Frwy Medical Port of Houston West Loop West Center South Loop Southwest Frwy Barbour’s Cut Terminal 69 Galveston Pkwy Bay Sam Houston Tollway Bayport Terminal Sugar Land Bend Gulf Frwy Armand Bayou ±195’ ±370’ Park Fort NASA Clear South Frwy Clear Lake Lake League City PARK ROW DRIVE Smithers Lake ±10 ACRES ENERGY CORRIDOR | 2 Proposed Grand Pkwy | ±10 ACRES Energy Corridor Development Opportunity Aerial View Facing West HOUSTON METHODIST WEST CAMPUS TEXAS CHILDREN’S WEST CAMPUS MUSTANG WOOD GROUP BARKER RESERVOIR PARK TEN ADDICKS RESERVOIR HIGHWAY 6 ADDICKS DAM ROAD BP AMERICA MD ANDERSON TERRY HERSHEY PARK IH - 10 | KATY FREEWAY TERRY HERSHEY PARK ±10 ACRES TERRY HERSHEY EXTENSION ENERGY CORRIDOR BLACKHAW ST R D REDHAW ST W O R OMNI HOTEL K R A P FOSTER WHEELER N ELDRIDGE PARKWAY WORLEY PARSONS CONOCOPHILLIPS EXECUTIVE SUMMARY Location Overview Houston’s Economy: A Stalwart of Growth and Diversity The surrounding area has seen healthy population and commercial growth since 2010, and Houston’s Houston ranks as the 4th most populous city in the United States with 2.3 million citizens and the 5th most overall “center” has gradually shifted westward as a result according to local economists. This westward populous MSA with 6.9 million residents. Houston was number 2 behind DFW in population growth over expansion is projected to continue with corresponding commercial development that will create tens of the last year and has consistently added between 100,000 and 150,000 residents over the last 3 years. thousands more jobs, and the region will remain attractive to renters on a long-term basis. On top of population growth Houston is home to greater than 3 million jobs and job growth continues to increase with April T-12 numbers adding another 84,500 jobs. Access to Houston’s Largest Employment Centers Superior Demographics The site is located with direct access to Interstate 10 and is in close proximity to Highway 6, Sam Houston Tollway/Beltway 8 and Westpark Tollway giving multiple commute options to Houston’s largest The site is flanked by Houston’s most affluent neighborhoods and has outstanding demographics to support employment districts. numerous development configurations, with key measures that far exceed Houston MSA averages. • Energy Corridor, the central business district of West Houston and third largest employment center in DEMOGRAPHICS 1-MILE 3-MILE 5-MILE the Houston metropolitan area with 300+ companies, 105,090 employees, and 31.6 million square feet 2018 Population Estimate 6,653 75,474 275,375 of commercial space. 202 Projection 7,253 81,440 277,351 • Residents can reach the Galleria/Uptown District (83,000+ jobs), Sugar Land (54,000+ jobs) Texas Growth 2018-2023 9.02% 7.91% 7.76% Medical Center (106,000+ jobs) and Downtown Houston (150,000+ jobs) in under 30 minutes. 2018 Average Household Income $136,752 $133,051 $111,892 % HH income $250,000+ 8.42% 8.22% 5.92% Houston Multifamily Market Poised for Growth Median Owner Occ. Housing Value $270,413 $358,771 $262,852 Recognized Nationally as Top Performing Market Westlake Plaza: BP America Headquarters Houston was recently ranked the #3 undersupplied metro in the nation by National Multi Housing Council with an estimated 15,300 units needed annually from now until 2030 to meet population growth and changing housing dynamics. By 2030, Houston will have an estimated 3.8 million renters based upon the MSA’s prolific population growth. Additionally, 8,571 units are expected to deliver in the Houston metro area in 2018, which is down from 21,707 units is 2016 and 13,843 units in 2017. , , Q Q , Q Q , , , , , , , , ±10 ACRES ENERGY CORRIDOR | 4 | ±10 ACRES Energy Corridor Development Opportunity Aerial View Facing Northwest MUSTANG WOOD GROUP BARKER RESERVOIR ADDICKS RESERVOIR ADDICKS DAM ROAD PAR K R OW HIGHWAY 6 DR ±10 ACRES MD ANDERSON ENERGY CORRIDOR ON SI N E T X BP NORTH AMERICA IH - 10 | KATY FREEWAY E E Y S H Y HER TERR IHI PGS SIEMENS OIL & GAS MEMORIAL DRIVE OMNI HOTEL TERRY HERSHEY PARK FOSTER WHEELER CONOCOPHILLIPS CONOCOPHILLIPS WORLEY PARSONS BUFFALO BAYOU BIKE TRAIL WAY PARK IDGE LDR N E LOCATION OVERVIEW #3 LARGEST EMPLOYMENT CENTER IN HOUSTON MSA WITH MORE JOBS THAN HOUSES The site is located in the heart of the Energy Corridor, the central business district of West Houston and third largest employment center in the Houston metropolitan area with 300+ companies, 105,090 employees and 30.8 million square feet of office space (68% of which is Class A). Its growth trajectory suggests nearly 10 times more jobs than housing units will be added to this area over the next 13 years. TOP 10 MAJOR EMPLOYERS IN THE ENERGY CORRIDOR NON-ENERGY COMPANIES WITH 500+ EMPLOYEES IN ENERGY CORRIDOR Distance from Rank Company Classification Total Employees the Site 25% OF JOBS IN ENERGY CORRIDOR ARE NOT ENERGY RELATED 1 Wood Group 4.1 miles Energy 10,960 2 BP America 1.6 miles Energy 9,537 3 Technip USA 3.0 miles Energy 4,300 4 ConocoPhillips 0.5 miles Energy 3,000 5 Shell Oil Company 5.9 miles Energy 3,000 6 Methodist West Houston 5.0 miles Non-Energy 2,100 7 Mariner Post-Acute Network 2.6 miles Non-Energy 2,000 8 The Friedkin Group 2.5 miles Non-Energy 2,000 9 Sysco Corporation 2.5 miles Non-Energy 1,800 10 Citgo Petroleum 2.2 miles Energy 1,367 ENERGY CORRIDOR PROJECTIONS Absolute Category 2018 Existing 2030 Projected Change THE ENERGY CORRIDOR WILL CREATE Office Space 30,825,846 SF 42,427,783 SF +11.6 million SF NEARLY 10X MORE JOBS THAN HOUSING Total Commercial Space 31,653,981 SF 47,952,712 SF +16.3 million SF Population 22,034 people 30,720 people +8,686 people UNITS OVER THE NEXT 13 YEARS. Housing (MH + SF) 10,953 units 16,988 units +6,035 units Employment 105,090 jobs 162,989 jobs +57,899 jobs ±10 ACRES ENERGY CORRIDOR | 6 LOCATION OVERVIEW TERRY HERSHEY PARK Sitting adjacent to the site, Terry Hershey Park is a county park that was created in 1989 and runs parallel to a roughly 6-mile (9.7 km) stretch of the Buffalo Bayou in western Houston, Texas. The park hosts a network of trails that run along the bayou from State Highway 6 to the Sam Houston Tollway and is a popular destination for local residents, runners, and bicyclists. The park maintains a network of both paved asphalt paths and dirt trails along the bayou. The paved walkways are located in the cleared stretch of the park, free of trees, and are about 10 feet in width. The dirt trails, however, cut through the densely grown forest growing along the bayou, and are not easily accessible. The park promotes its signature bike trails, the “Anthills”. ±10 ACRES ENERGY CORRIDOR | 7 LOCATION OVERVIEW Langham Park North Concept Plan A DESTINATION PARK FOR WEST HOUSTON Terry Hershey Park is a popular and important park in The Energy Corridor. The trails and landscape connect the entire Buffalo Bayou system with the Addicks and Barker Reservoirs, and include a range of active and passive park and recreation spaces.