midtown crossing · 2015. 4. 8. · cbre’s national retail investment group is pleased to present...
TRANSCRIPT
EXCLUSIVE AGENTS CBRE’s National Retail Investment Group is pleased to present the opportunity to acquire Midtown Crossing (“Property”), a 14,788 square foot retail center with high barriers to entry, urban, infill location in Houston. The Property has a coveted location in Midtown, a thriving, pedestrian-friendly, urban community adjacent to downtown Houston which benefits from the 24-hour consumer base. The Property is 100% leased by an ideal mix of national, regional and local retailers including Buffalo Wild Wings, Gyu-Kaku Japanese BBQ and Which Wich. The acquisition of Midtown Crossing provides investors with the opportunity to acquire an exceptionally located retail center with a secure income stream.
THE OFFERING
Capital Markets | National Retail Investment Group
TENANTS Buffalo Wild Wings, Gyu-Kaku Japanese BBQ, Which Wich, Gray’s Public House, River Oaks Cleaners
IN-PLACE NOI $268,782SIZE (SF) 14,788 square feetOCCUPANCY 100%YEAR BUILT 2004LAND AREA 1.2478 acresPRICE UnpricedDEBT Free and Clear
INVESTMENT SUMMARY
KEVIN HOLLANDVice [email protected]
CATHY NABOURSFirst Vice [email protected]
BRANDON FERGUSONAssociate214.979.6596 [email protected]
LOGAN [email protected]
JEFF STEINSenior Vice PresidentT: [email protected]
DEBT & STRUCTURED FINANCE
MIDTOWN CROSSINGHOUSTON, TX
© 2015 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
IRREPLACEABLE URBAN, INFILL LOCATION: Highly coveted location within one of the most established, urban, infill areas of the city known as Midtown, a thriving, pedestrian-friendly, urban community which offers residents a live, work, play environment in a walkable setting
DYNAMIC TENANCY WITH SECURE INCOME STREAM: 100% occupied by a dynamic mix of national and local retailers including Buffalo Wild Wings, Gyu-Kaku Japanese BBQ, Which Wich, Gray’s Public House and River Oaks Cleaners
HIGH BARRIERS TO ENTRY: Infill location adjacent to downtown in Midtown which benefits from high barriers to entry for future competition and scarcity of available land for new developments
CBD REVITALIZATION: Downtown Houston has been the beneficiary of more than $4 billion in private and public investment over the past decade including major transit and infrastructure projects, new sports facilities, an expanded theater district, new residential development, additional hotels, and other civic and cultural attractions
INVESTMENT H IGHLIGHTS
Capital Markets | National Retail Investment Group
For more in fo rmat ion on the proper ty, p lease v i s i t :
15THE PROPERTY
M I D T O W N C R O S S I N GSITE PLAN
SUITE TENANT SIZE (SF)A Which Wich 1,687
B1 Gyu Kaku 3,500
B2 Buffalo Wild Wings 5,951
C River Oaks Cleaners 1,050
D Gray’s Public House 2,600
TOTAL 14,788
B2
B1
AC
D
Gray Street
Braz
os S
treet
Smith
Stre
et
Webster Street
M I D T O W N C R O S S I N G
1 Mile 3 Mile 5 Mile
2015 POPULATION (EST.) 21,579 177,795 418,658
2020 POPULATION (PRJ.) 23,976 188,278 440,639
Daytime Population 203,869 351,059 631,215
2000-2015 Growth % 58.37% 18.21% 93.8%
2015-2020 Growth % 11.11% 5.90% 5.25%
2015 Avg. HH Income $95,870 $99,349 $91,739
16
M I D T O W N C R O S S I N G
THE PROPERTY
NORTH
M I D T O W N C R O S S I N G
10
45
THE HEIGHTS
GRAY
BRAZ
OS
GEORGE R. BROWN CONVENTION CENTER
SMIT
H
LOUISIANA BAGB
Y
MILAM
TRAVIS
MIDTOWN
WEBSTER
FANNIN
PIERCE ST
ST. JOSEPH PKWY
JEFFERSON
DOWNTOWN HOUSTON
MAIN
BELL
DOWNTOWN TRANSIT CENTER
MAIN ST SQUARE
METRORail Red Line
SAN JACINTO
45
MONTROSE
METRORail Red Line
PCG: www.MidtownCrossingHouston.comMarke tp lace: www.cbremarketplace.com/MidtownCrossing