OFFERING MEMORANDUM 9633 WESTHEIMER RD Glenn Dickerson SEC OF WESTHEIMER RD & GESSNER | HOUSTON, TX 77063 Vice President Neal Thompson Associate BROKERAGE NON-ENDORSEMENT AND DISCLAIMER NOTICE CONFIDENTIALITY AND DISCLAIMER The information contained in the following marketing brochure is proprietary and strictly confidential. It is intended to be reviewed only buy the party receiving it from NewQuest Properties and should not be made available to any other person or entity without the written consent of NewQuest Properties. This Marketing Brochure 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. NewQuest Properties has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size square footage of the property and improvements, presence or absence of contaminating substances, PCB‘s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenants plans or intentions to continue it’s occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NewQuest Properties has not verified, and will not verify, any of the information contained herein, nor has NewQuest Properties conducted any investigation regarding these matters and makes no warrantee or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all the information set forth herein. NewQuest Properties is a service mark of NewQuest Properties Real Estate Investment Services, Inc. © 2018 NewQuest Properties. All rights reserved. THE TEXAS REAL ESTATE COMMISSION (TREC) REGULATES REAL ESTATE BROKERS AND SALES AGENTS, REAL ESTATE INSPECTORS,HOME WARRANTY COMPANIES, EASEMENT AND RIGHT-OF-WAY AGENTS AND TIMESHARE INTEREST PROVIDERS. YOU CAN FIND MORE INFORMATION AND CHECK THE STATUS OF A LICENSE HOLDER AT WWW.TREC.TEXAS.GOV. YOU CAN SEND A COMPLAINT AGAINST A LICENSE HOLDER TO TREC. A COMPLAINT FORM IS AVAILABLE ON THE TREC WEBSITE. TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY A CIVIL COURT JUDGMENT AGAINST A BROKER, SALES AGENT, REAL ESTATE INSPECTOR, OR EASEMENT OR RIGHT-OF-WAY AGENT, IF CERTAIN REQUIREMENTS ARE MET. IF YOU HAVE QUESTIONS OR ISSUES ABOUT THE ACTIVITIES OF A LICENSE HOLDER, THE COMPLAINT PROCESS OR THE RECOVERY FUNDS, PLEASE VISIT THE WEBSITE OR CONTACT TREC AT: TEXAS REAL ESTATE COMMISSION P.O. BOX 12188 AUSTIN, TEXAS 78711-2188 512.936.3000 NON-ENDORSEMENT NOTICE NewQuest Properties is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of NewQuest Properties, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of NewQuest Properties, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR NEWQUEST PROPERTIES AGENT FOR MORE DETAILS. MEET THE TEAM GLENN DICKERSON NEAL THOMSON Vice President Associate [email protected] [email protected] 281.477.4384 713.438.9513 3 EXECUTIVE SUMMARY • Prime Location at Westheimer Rd and Gessner SEC OF WESTHEIMER RD & GESSNER • 333’ of Frontage on Westheimer 9633 Westheimer Rd ADDRESS Houston, TX 77063 • 4.6 Acres with an 84,326 SF Building located at Westheimer PRICE TBD and Gessner. Located in the Westchase District in between Beltway 8 and The Galleria OCCUPANCY VACANT • Major Area Employer: BMC Software, Baker Hughes, GLA 84,326 SF (2 FLOORS) Phillips66, ABB Group, Chevron, Dow Chemical, Petrochina, Jacobs Engineering LAND AREA 4.6 ACRES • Over 1500 businesses in the Westchase District YEAR BUILT 1973 YEARS RENOVATED 2007 & 2012 PARKING SPACES 350 4 SALE HIGHLIGHTS 84,326 RBA 4.6 Acres with an 84,326 SF Building located at Westheimer and Gessner. Located in the Westchase District in between Beltway 8 and The Galleria. 4.6 acres The subject site is basically irregular-shaped with approximately 246.76 linear feet of frontage along the east line of South Gessner Road and approximately 333.26 linear feet of frontage along the south line of Westheimer Road. The subject site is currently improved with one (1), two-story, single-tenant retail building totaling 84,326 square feet. 1973 This property was previously leased by Borders Books on a long-term lease, however year built vacated the property in 2010. A furniture retailer has occupied the property on a short- term basis since October, 2014. The subject has a physical address of 9633 Westheimer Road, Houston, Harris County, Texas. It was built in 1973 and last renovated in 2012. 2012 year renovated 350 parking spaces 5 SALE HIGHLIGHTS PROMINENT RETAIL LOCATION FRONTAGE WITH INCREASING VPD 4.6 acres with an 84,326 SF building in Prime location with 333 feet of frontage off of Houston’s Westchase District, a prime Westheimer with 76,000 VPD. South Gessner daytime shopper and commuter area . Road sees approximately 36,040 VPD. HIGH INCOME NEIGHBORHOODS EASILY ADAPTABLE FOR NEW USE Located near several major corporate Space is easily configurable as the first floor employers with 569,102+ population and is 42,000 sf of wide open space. The 2nd above average household income of $94,815. floor is 42,000 as well and is wide open with no instructions. 6 REGIONAL MAP SPRING 249 TEXAS 290 CYPRESS HCTRA TOLLWAY 10 KATY 610 HOUSTON 6 99 TEXAS TOLL 9633 WESTHEIMER 59 90 PEARLAND SUGAR LAND 7 LOCAL MAP SPRING Briar Forest Dr 249 TEXAS 290 CYPRESS Gessner Rd Gessner HCTRA TOLLWAY 10 KATY 610 HOUSTON 6 Westheimer Rd 99 TEXAS TOLL HCTRA 9633 WESTHEIMER Rd Fondren 59 90 TOLLWAY PEARLAND SUGAR LAND Dr Briarpark Richmond Ave S Gessner Rd S Gessner St Tanglewilde Westpark Dr Westpark Tollway Harwin Dr 8 AERIAL VIEW D R ER N S S E G S WESTHEIMER RD E V A E D L I W E L G N A T 9 AERIAL VIEW Downtown Galleria Uptown WESTHEIMER RD WESTHEIMER S G ESSN ER RD Westchase District 10 SITE PLAN 11 FORT WORTH LOCATION OVERVIEW #3 Top Moving Destination 2017 DALLAS #1 Fastest Growing Housing Market 2018 #1 Top 20 Business-Friendly City POPULATION 27,939,904 HOUSTON 2ND FASTEST #2 Fastest Growing Housing Market 2018 #7 Top 2- Business-Friendly City GROWING ECONOMY NO STATE IN THE U.S.A. INCOME TAX AUSTIN #1 Best Places to Live 2018 #12 Top 20 Business-Friendly City TOP STATE FOR BEST STATE SAN ANTONIO JOB GROWTH FOR BUSINESS #14 Best Place to Live 2018 13+ MILLION WORKERS 10TH YEAR IN A ROW FORTUNE 500 LARGEST 54 COMPANIES MEDICAL CENTER CALL TEXAS HOME 2ND LARGEST CANCER CENTER MD ANDERSON, HOUSTON AWARDED 2014 GOVERNOR’S CUP OVER 3,000 COMPANIES HAVE FOR THE MOST NEW AND EXPANDED LOCATED OR EXPANDED CORPORATE FACILITIES: 689 FACILITIES IN TEXAS SINCE 2009 12 LOCATION HIGHLIGHTS As the fifth most populous metro area in the U.S., Houston houses roughly 6.9 million people in southeastern Texas. The market is composed of nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers, Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which borders the metro to the southeast, provides access to markets around the world via the Port of Houston, making it a prime location for exports. Local industries have diversified from oil to technology and healthcare. Many companies provide goods and services for the large population growth, which has sprawled, primarily to the north and west. The city of Houston is the largest in the metro with 2.3 million residents. METRO HIGHLIGHTS CORPORATE GROWTH Houston will remain a top destination for corporate relocations due to its business-friendly environment. More than 20 Fortune 500 companies are headquartered in the metro. HIGHER EDUCATION Over 40 post-secondary educational institutions are located in the metro. Nearly 31 percent of residents have attained a bachelor’s degree, with 11 percent also holding a graduate or professional degree. LOW COST OF LIVING, DOING BUSINESS Houston has a lower cost of living than many major metros, no state income tax and a median home price below the national level. 13 LOCATION DEMOGRAPHICS POPULATION 1 MILE 3 MILES 5 MILES HOUSTON, TEXAS 77063 2024 Projected Population 28,153 212,464 588,092 2019 Estimated Population 27,405 205,917 569,102 POPULATION HOUSEHOLDS 2010 Census Population 25,339 187,726 519,885 569,102 237,216 2000 Census Population 22,020 177,089 502,067 MEDIAN AGE MEDIAN INCOME HOUSEHOLDS 1 MILE 3 MILES 5 MILES 33.8 $64,744 2024 Projected Households 15,322 98,601 254,469 2019 Estimated Households 14,342 91,969 237,216 2010 Census Households 12,738 80,390 206,947 0-19 YEARS 20-64 YEARS 65+ YEARS 2000 Census Households 11,839 79,523 204,747 2019 Total Occupied Units 14,342 91,969 237,216 26.5% 62.3% 11.2% 2019 POPULATION BY AGE HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES $150,000 or More 10.1% 12.9% 14.3% $100,000 to $149,000 10.4% 10.4% 11.3% MAJOR AREA LARGEST EMPLOYERS EMPLOYERS IN TEXAS $75,000 to $99,999 10.4% 10.6% 10.8% BMC Software