FOUNTAIN VIEW DRIVE

2660
FOUNTAIN
REDEVELOPMENT OPPORTUNITY
VIEW
DRIVE
H O U STO N , T E X A S
DOWNTOWN HOUSTON
MEMORIAL PARK
SOUTH
WESTHEIMER ROAD
GALLERIA
FOUNTAIN VIEW DR
Building Size
±51,527 SF
Land Size
±4.91 Acres
MEMORIAL
OFFERING MEMORANDUM
LAND SIZE ±4.91 Acres, Building Size ±51,527 SF
Offering Memorandum
2660 Fountain View Dr
OVERVIEW
The following investment summary outlines an investment
opportunity to acquire the ±4.91 acres at the northwest corner
of Westheimer and Fountain View. The building size is
±51.527 SF and was previously occupied by HEB grocery
store.
The property is located in the Uptown/Galleria District of
Houston and poses remarkable opportunity to develop in a
world class submarket in the most global city in the Southern
U.S. Westheimer and Fountain View are major arteries for the
area.
INVESTMENT HIGHLIGHTS
Economic Stability - Solid Drivers
2660
FOUNTAIN
VIEW
2660
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H O U STO N , T E X A S
H O U STO N , T E X A S
For more information, contact:
Simmi Jaggi
Senior Vice President
713.888.4098
[email protected]
Elizabeth Clampitt
Vice President
713.888.4075
[email protected]
JLL | Land Services
1400 Post Oak Boulevard
Suite 1100
Houston, Texas 77056
The information contained herein is obtained from sources believed to be reliable. However, Jones Lang LaSalle makes no
guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is
submitted subject to errors, omissions, change or price or conditions, and is subject to prior sale, lease or withdrawal without notice.
Located within the Houston-Galveston-Brazoria Consolidated
Metropolitan Statistical Service Area (CMSA), the Property
resides in the fifth largest metropolitan area in the United
States, with an area of 8,778 square miles and a population
of approximately 6.4 million people. The area is projected to
increase between 6.93 and 7.44 million by 2020.
Prime Location
The property sits at a premier Houston intersection of
Westheimer and Fountainview and will directly benefit from
close proximity to the Galleria, an urban community of
international prominence in the heart of Houston. It offers
a unique blend of prestigious business and residential
addresses with strong home values as well as rental and
occupancy rates, with the best shopping, hotels, dining and
entertainment.
Immediate Galleria Access
Central to the Uptown/Galleria submarket, the Property
offers immediate access to 500 acres of development,
including 28 million SF of office and over 5 million of retail
space, 7,800 hotel rooms, and a daytime population of
200,000.
Offering Memorandum
GALLERIA
WILLIAMS TOWER
GALLERIA MALL
INVESTMENT HIGHLIGHTS
Zoning
WESTHEIMER R
OAD
Subject property is located in the City of Houston which does
not have zoning.
FOUNTAIN VIEW DR
Demographics
2015 Estimate
1 Mile
3 Miles
5 miles
Population
32,615
207,850
490,304
Avg. Household Income
$78,961
$96,320
$102,732
34.3
34.0
35.0
Median Age
Traffic Counts
Intersection
Fountain View north of Westheimer
19,230
Fountain View south of Westheimer
28,430
Westheimer west of Fountain View
71,000
Westheimer east of Fountain View
60,870
2013 average daily traffic counts.
Source: US Census Bureau. 2015 Esri forecast.
OFFERING TERMS
Price
2660 Fountain View Dr
2660 Fountain View is being offered without an asking price.
Buyers should base their offers on an “as is and where is”
condition of the property.
Offer Due Date
March 23, 2016 at 5:00 PM CST (Central Standard Time).
Brokerage Commission
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Vehicles Per Day
There is an outside broker fee available of 0.05% of the sales
price for an approved buyer.
Offering Memorandum
NEW DEVELOPMENT
The Hudson
AL
I
R
O
MEM
431-unit Luxury
Residential Community
TAIN
N
U
FO
W
VIE
DR
2660 Fountain View Rd
Land Size
±4.91 ACRES
Buidling Size
±51,527 SF
IN
TA
UN
W
VIE
DR
NEW HEB SHOPPING
CENTER DEVELOPMENT
Tanglewood Court
Shopping Center
FO
NORTH
WES
THE
2660
SOUTH
FOUN TAI N
VIEW
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IME
RR
OAD
R
WD
IE
IN V
NTA
FOU
Offering Memorandum
H O U STO N , T E X A S
8
9
AREA OVERVIEW
The Galleria Market has over 5 million square feet
of retail space and serves as the city’s most popular
shopping destination. With a daytime population of
220,000 and 26 million square feet of commercial office
space, Uptown is one of the nation’s largest business
districts and home to approximately 2,000 companies,
including 3D/International, AON Risk Services of
Texas, Inc., Apache Corporation, BHP Billiton, Bechtel
Corporation, CBRE, Clear Channel, Dow Chemical,
Duke Energy, General Electric, Hines, JLL, Litton Loan
Servicing, Marathon Oil Corporation, NextiraOne, LLC,
Panhandle Pipeline Co., Schlumberger, Stewart Title
Guaranty Company, Telecheck International, Inc., GDF
Suez Energy Resources NA, and Williams Companies.
Uptown holds the city’s largest concentration of hotels that
accommodate nearly 20 million visitors each year.
With more than 180,000 residents within a 3 mile radius,
the Uptown/Galleria district features a variety of housing
options including apartments, high rises, town homes and
single-family residences to accommodate a diverse base
of residents.
With $1 billion in new commercial activity planned and
underway for the next five years, the area seamlessly
blends office, retail, hotel, entertainment and residential
development into a dynamic mixed-use urban center.
Uptown/Galleria offers five million square feet of retail
space that is celebrated worldwide as an international
fashion marketplace. The area boasts 1,000+ retail stores
including the Galleria, Houston’s top shopping destination,
which has more than 375 upscale stores and restaurants
and attracts more than 30 million visitors annually. The 2.4
million square foot property is now the fourth largest retail
center in the nation. As a result, the area benefits with
approximately $3.63 billion in retail sales annually, the
highest volume of any Houston retail shopping district.
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H O U STO N , T E X A S
Area Overview
The Uptown/Galleria area’s 34 first-class, full-service
hotels also comprise one of Houston’s top hotel districts.
With more than 7,800 hotel rooms, representing more
than 10% of the city’s inventory, the area accommodates
leisure and business travelers with a variety of businessclass hotels to premier luxury lodging. This abundance
of hotel accommodations enables the area to host more
than 30 million visitors from around the world each year.
The Uptown/Galleria’s hotels also generate approximately
$313 million of Harris County’s total taxable lodging
revenue, which is more than twice the lodging revenue of
any other Houston commercial district.
Offering Memorandum
2660
FOUNTAIN
VIEW
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H O U STO N , T E X A S
WESTHEIMER R
OAD
FOUNTAIN VIEW DR
Building Size
±51,527 SF
Land Size
±4.91 Acres
AREA OVERVIEW
Super Demographics
Houston’s Uptown/Galleria district is widely renowned
as a hub for local commerce, and it also is increasingly
becoming one of the city’s most popular residential
districts. More than 20,500 people reside within one
mile of the District, which represents a significant
population growth of 27% since 2000. Reflective of the
area’s sustained popularity and continued demand, this
population is projected to increase to between 6.93 and
7.44 million by 2020.
Houston’s overall after-taxes living costs are 9% below the
nationwide average, giving Houstonians more disposable
income than residents in many major metropolitan areas
across the country, which may partially account for
Houstonians eating out more than residents of any other
city. Nearly 40 percent of all adults have completed four
years of college, surpassing the national average; outside
of Boston, Houston has one of the highest aggregate
numbers of college graduates in the United States.
Approximately 189,000 people live within three miles of
the intersection of Post Oak Blvd. and Interstate 610, with
over 235,000 cars per day traveling along Interstate Loop
610 and nearly 300,000 cars per day traveling along U.S.
Highway 59 (Southwest Freeway), a major advantage for
tenants desiring freeway access/visibility. The average
housing value within three miles of the property is in
excess of $543,000.
In addition to being geographically desirable to Uptown,
Midtown, Downtown and high affluent residential
neighborhoods, 610 at Post Oak is also located within 10
miles of The Texas Medical Center, the largest medical
complex in the world, which employs more than 106,000
people and handles more than 7 million patient visits each
year. Also nearby, Houston’s Museum District attracts
more than 7 million visitors each year.
With approximately of 30,000 residents, the Uptown/
Galleria district features a variety of housing options
including apartments, high rises, town homes and singlefamily residences to accommodate a diverse base of
residents. Since 2006, 10 residential towers have been
delivered to the Galleria/Uptown district. These properties
are currently 93% occupied with prices ranging from
$150,000 to $4 million per unit.
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Offering Memorandum
DOWNTOWN HOUSTON
NORTH
MEMORIAL PARK
SOUTH
WILLIAMS TOWER
GALLERIA
E RD
ELIP
F
SAN
GALLERIA MALL
ER
EIM
STH
WE
AD
RO
NEW DEVELOPMENT
The Hudson
431-unit Luxury
Residential Community
2660 Fountain View Rd
Land Size
±4.91 ACRES
Buidling Size
±51,527 SF
NEW DEVELOPMENT
2626 Fountain View
Alliance
FOUNTAIN VIEW DRIVE
FOUNTAIN VIEW DRIVE
ER
EIM
STH
WE
FOUN TAI N
VIEW
DRIVE
MEMORIAL
H O U STO N , T E X A S
AD
2660
RO
NEW HEB SHOPPING
CENTER DEVELOPMENT
Tanglewood Court
Shopping Center
NANTUCKET DR
Offering Memorandum
AREA OVERVIEW
Area
Overview
Area
Overview
Recent Developments
Recent Developments
TheRecent
Uptown/Galleria
submarket has long been known for its extensive offering of best-in class amenities. Anchored
Area
Overview
Developments
AREA OVERVIEW
along
Westheimer
Road and
Oakknown
Boulevard,
the areaoffering
is an urban
community
of exceptional
sophistication,
styleand
The Uptown
/Galleria submarket
hasPost
long been
for its extensive
of best-in-class
amenities.
Anchored along
Westheimer Road
Recent
Developments
The
Uptown
/Galleria submarket has long been known for its extensive offering of best-in-class amenities. Anchored along Westheimer Road and
and
prominence.
Thecommunity
long-termofperformance
of this amenity-rich
neighborhood
is bolstered
by a sustained
Post international
Oak Boulevard, the
area is an urban
exceptional sophistication,
style and international
prominence.
The long-term
performance
Post Oak Boulevard, the area is an urban community of exceptional sophistication, style and international prominence. The long-term performance
demand
for new
developments
among
businesses
residents
of this
neighborhood
bolstered
by
a sustained
demand
for offering
a newalike.
developments
among
businesses
and residents
alike.
The amenity-rich
Uptown
/Galleria
submarket ishas
long been
known
for itsand
extensive
of best-in-class
amenities.
Anchored
along Westheimer
Road and
of this amenity-rich neighborhood is bolstered by a sustained demand for a new developments among businesses and residents alike.
Post Oak Boulevard, the area is an urban community of exceptional sophistication, style and international prominence. The long-term performance
Some
the
most
prominent
area
amenities
profiled
below.
Some
ofofthe
most
prominent
area amenities
are profiled
below.
of this
amenity-rich
neighborhood
is bolstered
by a are
sustained
demand
for a new developments among businesses and residents alike.
Some of the most prominent area amenities are profiled below.
Some of the most prominent area amenities are profiled below.
Tanglewood Court
Tanglewood Court
This mixed use redevelopment is located at the Southeast corner of San Felipe and Fountain View in the Galleria area of Houston, TX. Tanglewood
This mixed use redevelopment is located at the Southeast corner of San Felipe and Fountain View in the Galleria area of Houston, TX. Tanglewood
Court
will feature an
80,000 SF HEB Grocery Store, 32,000 SF of retail, restaurants and service uses. The grand opening is scheduled for 3Q 2014.
Tanglewood
Court
Tanglewood
Court
Court will feature an 80,000 SF HEB Grocery Store, 32,000 SF of retail, restaurants and service uses. The grand opening is scheduled for 3Q 2014.
This
use redevelopment
is located
at the Southeast
corner of Sancorner
Felipe and
Fountain
Viewand
in the
Galleria area
of Houston,
TX. Tanglewood
Themixed
mixed-use
redevelopment
is located
at the Southeast
of San
Felipe
Fountain
View
in the Galleria
area of
Court
will feature
an 80,000 SF HEB
Grocery
Store,an
32,000
SF ofSF
retail,
service
uses. SF
Theof
grand
opening
is scheduled
3Q 2014.
Houston,
TX. Tanglewood
Court
features
80,000
HEBrestaurants
Grocery and
Store,
32,000
retail,
restaurants
andforservice
uses.
2626 Fountain View
2626 Fountain View
The
distinctive
beauty
2626
Fountain
View of 2626 Fountain View reflects the sophistication and style of this renowned neighborhood. These
The distinctive beauty of 2626 Fountain View reflects the sophistication and style of this renowned neighborhood. These new one- and two-bedroom
new
and two-bedroom
apartment
refined finishes
andof an
of modern
amenities.
Withonea unique
blend
Theonedistinctive
beauty of 2626 Fountain
Viewhomes
reflects offer
the sophistication
and style
thisarray
renowned
neighborhood.
These new
and two-bedroom
apartment
homes offerView
refined finishes and an array of modern amenities. With a unique blend of prestigious addresses and the best shopping,
2626
Fountain
of prestigious
addresses
andfinishes
the best
diningamenities.
and entertainment
the city,
life at 2626
Fountain
View
certain
apartment homes
offer refined
and shopping,
an array of modern
With a uniqueinblend
of prestigious
addresses
and the
best is
shopping,
dining
entertainment
in
city,
life at View
2626 reflects
Fountainthe
View
is certain toand
be as
convenient
as it is luxurious.
The apartment
offertwo-bedroom
Custom
The and
distinctive
beautyas
of the
2626
Fountain
sophistication
style
of this
renowned
neighborhood.
These
newhomes
oneand
to be
as
convenient
it
is
luxurious.
The
apartment
homes
offer
Custom
Hardwood
Style
Flooring,
granite
countertop
dining and entertainment in the city, life at 2626 Fountain View is certain to be as convenient as it is luxurious. The apartment homes offer Custom
Hardwood
Style
Flooring,
granite
countertop
selections,
full-size
washer
and
dryer,
spacious
walk
in
closets*,
and
a
walk
in
shower*.
Clubhouse
apartment full-size
homes offer
refined and
finishes
and spacious
an array of walk-in
modern amenities. With
a aunique
blend of prestigious
addressesamenities
and the best
shopping,
selections,
washer
dryer,
walk-in
Clubhouse
include
Hardwood Style Flooring,
granite countertop
selections, full-size closets*,
washer andand
dryer,
spacious shower*.
walk in closets*,
and a walk in shower*.
Clubhouse
amenities
include
elegant
Clubroom
with
Catering
Kitchen,
24/7
Athletic
Center
outfitted
with
Cardio
Theatre,
Free
Weights,
Individual
Weight
dining Clubroom
and entertainment
in the city, Kitchen,
life at 2626
Fountain
ViewCenter
is certain to be as with
convenient as Theatre,
it is luxurious.
The apartmentIndividual
homes offerWeight
Custom
elegant
with Catering
24/7
Athletic
Free
amenities include elegant
Clubroom with Catering
Kitchen,
24/7 Athleticoutfitted
Center outfittedCardio
with Cardio Theatre,
Free Weights,
Weights, Individual Weight
Machines
andStyle
Expresso
Bike granite
featuring
Interactive
Display Board,
Professional
Spinning
Facility available
for Reservation,
Executive
Business
Lounge
Hardwood
Flooring,
countertop
selections,
full-size
washer and
dryer, spacious
walk in closets*,
and a walk
in shower*.
Clubhouse
Machines
Expresso
featuring
Interactive
Display
Board, Professional
Spinning
available
for Reservation,
Machines and
and Expresso
BikeBike
featuring
Interactive
Display Board,
Professional
Spinning Facility
available Facility
for Reservation,
Executive
Business Lounge
withamenities
Wi-Fi Access
andelegant
Outdoor
Lounge with
with Catering
Comfort Seating
Space
include
Clubroom
Kitchen,and
24/7Media
Athletic
Center outfitted with Cardio Theatre, Free Weights, Individual Weight
Executive
Business
Lounge
with
Wi-Fi
Access
and
Outdoor
Lounge
with
Comfort
Seating
and
Media
Space.
with Wi-Fi Access and Outdoor Lounge with Comfort Seating and Media Space
Machines and Expresso Bike featuring Interactive Display Board, Professional Spinning Facility available for Reservation, Executive Business Lounge
with Wi-Fi Access and Outdoor Lounge with Comfort Seating and Media Space
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16
16
The
Hudson
The
Hudson
The Hudson
TheThe
431-unit
complex,
called The
Hudson,
be developed
by Zom Texas,
Dallas-based
affiliatethe
of Orlando-based
Zom.
The Hudson
431-unit
complex,
called
Thewill
Hudson,
is currently
beingthedeveloped
byregional
Zom Texas,
Dallas-based
regional
affiliate
The 431-unit complex, called The Hudson, will be developed by Zom Texas, the Dallas-based regional affiliate of Orlando-based Zom. The Hudson
willof
be
on
5.3
acres
located
at
Fountain
View
Drive
and
San
Felipe
Street,
adjacent
to
Tanglewood
Court.
The
Hudson
will
be
a
five-story
building
Orlando-based
Zom. The Hudson is located on 5.3 acres located at Fountain View Drive and San Felipe Street, adjacent
The
Hudson
will be on 5.3 acres located at Fountain View Drive and San Felipe Street, adjacent to Tanglewood Court. The Hudson will be a five-story building
surrounding
three
landscaped
courtyards,
andis
will
also
includebuilding
abyseven-level
parking
garage.
include
an e-lounge,
simulator,
to
Court.
The
a be
five-story
surrounding
threeAmenities
landscaped
courtyards,
and golf
also
includes
a
TheTanglewood
431-unit complex,
called
TheHudson
Hudson,
will
developed
Zom Texas,
the Dallas-based
regional will
affiliate
of Orlando-based
Zom.
The Hudson
surrounding three landscaped courtyards, and will also include a seven-level parking garage. Amenities will include an e-lounge, golf simulator,
fitness
center,
dogacres
parklocated
andgarage.
petatsalon.
will be
on 5.3
Fountain
View Drive
San Felipe
Street, adjacent
to Tanglewood
Court.center,
The Hudson
will beand
a five-story
building
seven-level
parking
Amenities
will and
include
an e-lounge,
golf simulator,
fitness
dog park
pet salon.
fitness center, dog park and pet salon.
surrounding three landscaped courtyards, and will also include a seven-level parking garage. Amenities will include an e-lounge, golf simulator,
fitness center, dog park and pet salon.
Offering Memorandum
17
17
17
HOUSTON OVERVIEW
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H O U STO N , T E X A S
H O U STO N , T E X A S
Highly regarded as a business-friendly destination for
Corporate America, the city of Houston ranks second
nationwide (trailing only New York City) with 26 Fortune
500 company headquarters. As a result, Houston has
received numerous national accolades including recent
recognition by Site Selection Magazine as the number
one metro area in the nation for corporate location,
relocation and expansion. This is the third time in four
years the Houston metro area has taken the top spot,
logging 325 new and expanded facilities to garner the
honor. This ranked Houston ahead of second-place
Chicago, which had 311 projects, and third-place Dallas/
Fort Worth with 224 projects. The culmination of these
attributes makes Houston a highly desirable location for
existing businesses.
Houston is home to the Texas Medical Center (located 5
miles southeast of the Site) that has an annual economic
impact of $14 billion and employs approximately 82,200
healthcare professionals. Texas Medical Center also is
an academic center of the Southwest with more than
360,000 students enrolled in local universities, colleges
and institutions. Additionally, Houston is home to 413
chemical plants employing over 33,100 people, more
than 300 electronics manufacturing plants employing over
27,500, more than 250 software development companies
employing in excess of 50,000, and over 67,000
engineers and architects employed at more than 1,900
firms. Houston also is home to the 1,650-acre NASA
Johnson Space Center (25 miles southeast of Highland
Village) that has an annual economic impact of $4.5 billion
and employs approximately 14,000 engineers, scientists
and administrative personnel. Additionally, Houston is
the birthplace of nanotechnology and the Texas leader in
plastic and resins with 47 plants located within the MSA
and more than 235 manufacturing establishments for
plastic and rubber products.
Houston: An International and Cosmopolitan City
Houston is an international, entrepreneurial, diverse,
cosmopolitan city where no one ethnic or racial group
holds a majority, in which 92 countries have consular
offices in Houston (the third highest in the nation), and
more than 90 languages are spoken throughout the
Houston area. Houston has a Theater District second only
to New York City with its concentration of seats in one
geographic area. Located downtown, the 17-block Theater
District is home to eight performing arts organizations
with more than 12,000 seats. In addition, Houston has a
unique Museum District) offering a range of museums,
galleries, art and cultural institutions, including the City’s
major museums. Houston has more than 500 cultural,
visual and performing arts organizations, 90 of which are
devoted to multicultural and minority arts and is one of five
U.S. cities that offer year-round resident companies in all
major performing arts.
Houston offers its residents and businesses high qualityof-life attributes including a low cost structure, no state
income tax, abundant tax incentives, ample cultural and
recreational resources, quality public education, good
weather and easy access to public services. Additionally,
Houston workers are paid more than the national and
the state on average. According to a recent Occupational
and Employment Statistics release by the U.S. Bureau of
Labor Statistics (BLS), the average wage paid to Houston
workers is 5% higher than the national average and
10.2% higher than the Texas average.
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The Houston Metropolitan Statistical Area (MSA)
encompasses 10 counties and 10,062 square miles,
boasting an economy that produces more goods and
services than all but 21 nations worldwide. Houston is
the fourth most populous city in the nation, trailing only
New York, Los Angeles and Chicago, and is the largest
in the southern U.S. and Texas. Houston is also the
fastest growing metro area in the nation (adding more
than 1.2 million residents from 2000 through 2010) with
the nation’s second youngest median age among large
metropolitan areas in the United States. Historically the
heart of the global energy business, Houston’s title of
“Energy Capital of the World” has been firmly secured
by the continued growth and expansion throughout this
critical industry.
Houston Overview
Offering Memorandum
Houston: A High End Shopping Destination
Houston is home to a number of high end luxury retail
centers all of which contribute to Houston’s well-deserved
reputation as a fertile ground for high end luxury retail.
Luxury retail is thriving in Houston and is expected to
continue with a number of luxury retailers having recently
made their Texas debuts in Houston over the past few
years. The strength of the energy industry in Houston
coupled with the excellent population growth should attract
additional luxury retailers to Houston. While a number of
big-box chains are downsizing nationally, the number of
luxury retailers in Houston has been getting larger. The
geographic heart of Houston luxury retail is Uptown District
and the western portion of the Inner Loop area of Houston,
which includes the Highland Village Shopping Center, the
Galleria, Uptown Park, BLVD Place, River Oaks Shopping
Center, Upper Kirby District, Rice Village and West Ave.
Houston’s Young, Well-Educated,
Expanding Population
In addition to its exceptional population growth, the
Houston metro area also boasts a young and welleducated population base. According to the Census
Bureau’s American Community Survey, Houston has the
second-youngest median age among large metropolitan
areas in the United States. Houston is the fourth-largest
city in the United States with a population of 2.3 million
people, while the Houston MSA is now the fifth-most
populous metro area with 6.4 million residents. During
the last decade, Houston was the fastest growing metro
area in the United States, adding more than 1.2 million
residents. According to a study by the Kinder Institute
for Urban Research, this growth represents more people
than the population growth in the New York and Chicago
metropolitan areas combined during the past decade.
Houston has capitalized on its proximity to Latin America,
its emergence as a major destination for immigrants from
around the world, the area’s pro-business policies, low cost
of living.
TMC is the largest medical center in the world and has
more than 7.1 million patients visit annually, of which
approximately 16,000 are international patients. TMC is
situated on 1,300 acres just outside downtown Houston
and is comprised of 280 buildings—including 21 academic
institutions and 14 hospitals—totaling 45.5 million gross
square feet of patient care, education and research space.
Together TMC’s 51 member institutions employ more
than 92,500 people, making it Houston’s second-largest
employer outside of the CBD. Texas Medical Center has
a regional annual economic impact of $14 billion, with
another $7.1 billion approved for building and infrastructure
improvements that were initiated in 2008.
Houston’s Cost Advantages
Houston has a superior reputation worldwide for being a
business-friendly destination for corporations and their
employees. The lack of state and city taxes on personal
and corporate income and some of the lowest housing and
living costs within the top 20 major U.S. metro areas are
among the many motivations for businesses to reside in
Houston. Additionally, the city’s central location and superb
transportation infrastructure further enhance Houston’s
appeal to local, national and international companies with
an interest in logistical efficiency.
Local office rents also remain among the most competitive
of major U.S. cities. Houston is the nation’s sixth-largest
office market, and the city ranks second nationally with
26 Fortune 500 headquarters. More than one-half of
the world’s largest non-U.S. based corporations have
major non-retail operations here. Houston also has a
strong international presence as over 3,500 firms and
organizations report business dealings in over 200
countries worldwide. Houston ranks second in the nation
in terms of available convention/special event space, with
more than 2.5 million square feet of convention facilities.
Texas Medical Center
The healthcare industry continues to be another significant
economic driver in Houston, adding 9,600 local jobs on
average within the past 5 years, representing a growth rate
of 6.5%. The epicenter of Houston’s healthcare presence is
the internationally recognized Texas Medical Center (TMC).
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For more information, contact:
Simmi Jaggi
Senior Vice President
713.888.4098
[email protected]
Elizabeth Clampitt
Vice President
713.888.4075
[email protected]
JLL | Land Services
1400 Post Oak Boulevard
Suite 1100
Houston, Texas 77056
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate
services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee
revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates
in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides
management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0
million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its
investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets
under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
For further information, visit www.jll.com.
OFFERING MEMORANDUM
LAND SIZE ±4.91 Acres, Building Size ±51,527 SF