houston chronicle site

Houston Chronicle Site
HOUSTON, TEXAS | EXECUTIVE SUMMARY
Chase Tower
BG Group
Place
1000
Main
Full City Block
Bank of America
Pennzoil
Center
Place
717
Texas
Half City Block
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp., a Texas licensed real estate broker (“HFF”).
d
North
Loop
Houston Chronicle Site
EXISTING
IMPROVEMENTS
Energy
Corridor
801 Texas Avenue
Full City Block
62,500 SF
710 Preston Street
Half City Block
36,684 SF
George Bush
Park
10 Story Office Building
560 Space Parking Garage
INVESTMENT HIGHLIGHTS
k Tollway
es
w
h
ut
69
Texas Medical
Center
South
So
Loop
restrictions,
Sam Houston Tollway
• Dramatic and unobstructed view corridors
Fort
• C
onnected to the 7-mile underground pedestrian tunnel system which provides
climate control access to all Class A office buildings and a multitude of retail and
dining establishments
South Frwy
Be
nd
T he Chronicle Site is a rare opportunity to acquire a tunnel-connected development site
in the Houston CBD in a premier location:
William
P. Hobby
Airport
Pk
wy
69height
FORT
BEND Chronicle Site is unencumbered by usage, zoning or
The Houston
which
makes
it
suitable
for
office,
residential
or
hotel
development.
COUNTY
West Loop
Westpar
Downtown Houston is rapidly emerging as a 24/7 pedestrian-friendly
CBD with a variety
y
rw
of world class amenities including:
tF
• Class A Office
• Restaurants
• Hotels• Residential
• Theater District • Professional Sports
• Convention Center • Entertainment
• Light Rail
• Parks
Downtown
Galleria
Westheimer Rd
East Loop
SQUARE FEET
• S urrounded by some of Houston’s most successful and iconic Class A office towers,
including Chase Tower, the tallest building in the state
• Immediate and convenient ingress and egress to all major thoroughfares connecting
to the CBD
• Within one block of Houston Metro’s Main Street and East End light rail lines
Smithers
• W
alking distance to historic Market Square
Park, a popular destination comprised of
Lake
some of Houston’s most popular eateries and entertainment venues
• W
alking distance to the Theatre District which encompasses nine renowned
performing arts organizations in a variety of venues
on
aum
Be
Katy Frwy
SIZE
oa
Toll R
wy
Fr
ADDRESS
rth
No
No
HFF, as exclusive advisor to the Hearst Corporation, is pleased to offer the Houston Chronicle site
rt(“the
hw
es
Property”). Consisting of a full city block and an adjacent half block featuring a 560 space parking
tF
r
garage, the Property is located at the forefront of Houston’s Central Business District. The Property is wy
the premier CBD development opportunity, benefiting from its dramatic potential views, its location
next to Chase Tower, the tallest building in Texas, as well as its connection to the tunnel system. The
irreplaceable location and Houston’s ranking as one of the top investment destinations in the world
make the Property a once in a generation CBD development opportunity.
THE PROPERT Y
69
y
Hard
Executive Summary
BRAZORIA
COUNTY
Proposed Grand Pkwy
Houston Chronicle Site | Houston, TX
2 | HFF
Conceptual Renderings
Conceptual Renderings
Houston Chronicle Site | Houston, TX
3 | HFF
Downtown Development
HOUSTON ON THE RISE
MARKET SQUARE
Future redevelopment of the site will benefit from a world class amenity base. The
2014 AFIRE RATING
Property is located near Market Square Park, a popular pedestrian destination
surrounded by some of Houston’s most exciting eateries and entertainment venues.
Furthermore, Houston’s two most upscale high-rise residential developments are
under construction adjacent to the park.
TOP GLOBAL CITIES
1) London (#2 last year)
2) New York (#1 last year)
Hines Market Square
3) San Francisco (#3 last year)
4) HOUSTON (#5 last year)
5) Los Angeles (#14 last year)
GDP RANK 2013
2ND MOST
1) New York City: $1.379 Trillion
2) Los Angeles: $792 Billion
3) Chicago: $585 Billion
4) HOUSTON: $463 Billion
5) Dallas: $420 Billion
COMPANY
HEADQUARTERS
OF ANY US CITY
Market Square Tower
HOUSTON JUMPS TO #1 IN EMERGING TRENDS
FOR TOP REAL ESTATE MARKETS FOR 2015
D O W N T O W N D E V E LO P M E N T
Downtown Houston is a dynamic, 24/7 pedestrian friendly CBD with
immediate access to world class amenities. Currently, downtown
Houston is experiencing a renaissance, with approximately 3,500
residential units planned or under construction, three office buildings
under construction, and a mixture of entertainment, hospitality, and
public buildings under construction.
Houston Chronicle Site | Houston, TX
4 | HFF
N
LE
AY
W
RK
PA
T
ES
W
Block Map
FIRST WARD
L
IA
OR
EM
M
Houston Downtown Tunnel System
AS
LL
DA
ystem
DOWNTOWN TUNNEL SYSTEM
The
Property is connected to the seven mile underground pedestrian tunnel system, which offers climate controlled access to over 65 commercial buildings, and more
ston Center
Area
than 200 retail destinations in downtown Houston. The tunnels experience heavy foot traffic during the week from office workers seeking to run an errand, meet with
INT system is a must for an iconic office address.
coworkers at a restaurant, or travel to other buildings for business meetings. Access to the tunnel
ER
STA
TE
LIGHT RAIL
Metropolitan
45
Hobby Center
Heritage
for the and the East End lines only
Plaza
The Houston ChronicleGarage
site is near Houston Metro’s
light rail lines, with the
Street
one block away.
City Main
Downtown
Performing Arts
Garage
1600 Smith
Garage
500
Jefferson
Crowne
Plaza
Continental
Center
Hall
Annex
BAGBY
Three
Allen
Center Doubletree
Hotel
Antioch
Baptist
Church
Two
Allen
Center
Chevron
One
One
Allen
Center
Aquarium
Heritage
Plaza
Public
Library
Post Office
City
Hall
Bayou
Place
Bob Casey
U.S.
Courthouse
Ideson
1100 Smith Julia
Building
Garage
Wells
Fargo
Plaza
1100
Louisiana
Hyatt
Regency
Hotel
One
Shell
Plaza
Lanier
Public
Works
Bank of
America
Center
Alley
Theatre
Jones
Plaza
10
Houston
Ballet
Center
Lyric
Centre
E
TAT
ERS
INT
KBR
Tower
600
Jefferson
STATION
SMITH
1401 Smith
Garage
Regency
Chevron
Two 1400 Louisiana Garage
Garage
Wortham
Theater
STATION
Allen
Center
Garage
LOUISIANA
1300
Main
Garage
HPD
Headquarters
Two
Shell
Plaza
P
Pennzoil
Place
Jones
Hall
717 Texas
Planned
Capital
Tower
J.P. Morgan
Chase
Tower
Houston
Chronicle
Market
Square
Tower
710
Preston
P
P
Hilcorp
STATION
STATION
STATION
Main
Street
Garage
P
Houston
House
Co-Cathedral Diocese of
Galveston Apartments
of the
Sacred Heart Houston
1301
Fannin
1010
Lamar
Green
Street
One City
Centre
Fannin
Garage
1001 Fanin
1111
Fannin
Kirby
Lofts
1001
McKinney
One
Houston
Center
712
Main
CAPITOL
STATION
P
Commerce
Towers 801 Travis
1000
Main McKinney
806 Main
Garage
601
Travis
FANNIN
Club
Quarters
Hotel
The
Rice
Lofts
METRO Light Rail
MAIN
BG Group St. Germain
Lofts
Place
STATION
METRO Light Rail
STATION
P
Courtyard
1300 by Marriott/
Main Residence
Inn
STATION
First
ChurchBeaconsfield
of Christ Condos
Scientist
RUSK
TRAVIS
609
Main
U/C
P
CAROLINE
Houston
Center
Garage
One
P
STATION
Federal
Detention
Center
Dunn
Center
Great
Southwest
Life
Urban
League
PRESTON
Majestic
Metro
STATION
Harris
County
Admin.
Alden
Hotel
Harris
County
Civil
Courts
Old
Cotton
Exchange
Islamic Bayou
Center Lofts
Hotel
917
Icon
Franklin
Root
Square
P
P
P
One Park
Place
5 Houston
Center
P
P
TRO
N
TIO
STA
Harris Harris Harris
CountyCounty
County
D.A. Family
Law Complex
Bldg. Center
Harris
County
Criminal
Justice
Center
Harris
County
Juvenile
Justice
Center
Harris
County
Civil
Justice
Center
Harris
County
Parking
Garage
LA BRANCH
Tunnel temporarily closed
Embassy
Embasey
Hess
Hess
Tower
P
Tower
Suites
P
Inn at the
Garage
Houston Chronicle Site | Houston, TX
Ballpark
Tundra
ME
Congress
Plaza UH Downtown
Classroom
Jury
Building
Assembly
AUSTIN
tus
eph
tal
lex
U.H.
Downtown
Spaghetti
Warehouse
yo u
lo Ba
Fulbright
Tower
U.S.
Customs
House
Hines
Market
Square
Market
Square
Park
Buffa
P
Four
Seasons
Hotel
The Shops
at
Houston
Center
Two
Houston
Center
East End Light Rail
Brown
Book Shop
First
City
Tower
Garage
Southeast Light Rail
SAN JACINTO
South
Texas
College
of Law
P
Binz
Building
St. Germain
Christ
Lofts
Church
Club Quarters Cathedral
Hotel
P
PRAIRIE
The
Esperson
TEXAS
919
Milam
WALKER
Americana
MCKINNEY
LAMAR
DALLAS
P
POLK
CLAY
800
Bell
BELL
LEELAND
YMCA
PEASE
JEFFERSON
MILAM
Travis
Place
Garage
COMMERCE
P Plaza
FRANKLIN
Total Centerpoint
Energy
777 Clay
Garage
CONGRESS
KBR
Garage
Kinder
Morgan
Tower
1
1500 Louisiana
Wedge
Garage
Exxon
International
Garage
Tower
Toyota
5 | HFF
h
Lig
Ingress/Egress Map
Houston Chronicle Site | Houston, TX
6 | HFF
Parking Garage
•Numerous office buildings directly to the south are significantly
underparked.
Property Address
710 Preston with access points on Preston
and Prairie
Property Type
Concrete Garage
• E
xcellent location with immediate proximity to the Theater District and a
high concentration of entertainment venues.
Year Built
1977
•710 Preston is a Circulating Block allowing drivers to circle the block for
efficient ingress and egress.
Parking Spaces
560
•7 Day – Day and night parking demand for area.
Stories
6
•The adjacent Market Square Garage will be primarily converted to serve
Market Square Tower residents.
Houston Chronicle Site | Houston, TX
7 | HFF
Contact Information
INVESTMENT SALES
C A P I TA L M A R K E T S
DAVIS ADAMS
SCOTT GALLOWAY
Managing Director
Tel 713-852-3558
[email protected]
Executive Managing
Director
Tel 713-852-3560
[email protected]
JEFF HOLLINDEN
Senior Managing Director
Tel 713-852-3514
[email protected]
HFF HOUSTON
9 Greenway Plaza, Suite 700
Houston, Texas 77046
Phone: (713) 852-3500
Fax: (713) 852-3490
www.hfflp.com
GERRY ROHM
Senior Managing Director
Tel 415-276-6935
[email protected]
CHRIS CURRY
Director
Tel 713-852-3466
[email protected]
JOHN BOURRET
Managing Director
Tel 469-232-1962
[email protected]
MARK BRAMLETT
Analyst
Tel 713-852-3469
[email protected]
©2015 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real
estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information
please visit hfflp.com or follow HFF on Twitter at twitter.com/hff.
HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF and we make no representations or warranties,
express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained
herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information
contained herein is subject to change.