PANTHER CREEK PROFESSIONAL PLAZA II INVESTMENT …...for sale. panther creek professional plaza ii. 4840 w panther creek dr. the woodlands, tx. for more information contact: karyn

MEDICAL/OFFICE INVESTMENT

FOR SALE

PANTHER CREEK PROFESSIONAL PLAZA II4840 W PANTHER CREEK DR.

THE WOODLANDS, TX

FOR MORE INFORMATION CONTACT:Karyn Jackson Stephens, CCIM | Jeff Beard, CCIM

OFFERING HIGHLIGHTS

o 97% LEASED MEDICAL OFFICE IN THE HEART OF THE WOODLANDS, TX

o ESTABLISHED, LONG TERM TENANTS WITH RENT BUMPS

o 30,363 SF TWO STORY, STEEL & BRICK CONSTRUCTION WITH ATRIUM AND PORTE- COCHERE COVERED DROP-OFF BUILT IN 1999 ON 2.465 ACRES

o ACROSS FROM THE RANDALL’S GROCERY ANCHORED /PANTHER CREEK VILLAGE SHOPPING CENTER

o CONVENIENT TO I45 CORRIDOR – APPROXIMATELY 25 MILES TO HOUSTON

o THE WOODLANDS IS A 28,000-ACRE MASTER-PLANNED COMMUNITY WITH 9 DISTINCT VILLAGES AND A POPULATION OF 106,670

o THE WOODLANDS HAS STRONG ECONOMIC DRIVERS: FOUR MAJOR HOSPITALS, MAJOR EMPLOYERS, A REGIONAL MALL, LONE STAR COLLEGE AND SAM HOUSTON STATE UNIVERSITY THE WOODLANDS CENTER, AND THE WOODLANDS TOWN CENTER DISTRICT.

T A B L E O F C O N T E N T S

Section I. Purchase Opportunity

o Offering Highlightso Market Trade Area Aerial o The Woodlands Overviewo Houston Overview

Section II. Property and Office Market Overview

o Property Overview and Area Demographicso Investment Overviewo Surveyo Office Market Summary

Section III. Financial (Upon Request)

o Rent Rollo Lease Expirationso Rate Increase Scheduleo Historical Income/Expense Detailso Projected Income Statement


FOR SALE


THE WOODLANDS, TX


FOR SALESECTION I - AERIAL


THE WOODLANDS, TX

THE WOODLANDS OVERVIEW

o The Woodlands is a 28,000-acre master-planned community, with a population of more than 106,670. It is located approximately 30 miles north of downtown Houston and consistently ranks among the top best selling , master planned communities in the nation.

o Currently 49,000 employees work in the area with such major employers as Anadarko, Cb&I, Talisman Energy, AonHewitt, Nexeo Solutions , Chevron, McKesson and Repsol USA.

o There are 9 distinct villages that make up The Woodlands: Alden Bridge, Cochran's Crossing, College Park, Creekside Park, Grogan's Mill, Indian Springs, Panther Creek, Sterling Ridge & Town Center.

o The Woodlands has seen tremendous growth over the past two decades, growing 135% since 1990, and benefits from its outstanding amenities including retail, hotel, entertainment, recreation and conference center facilities, It is home to some of the best retail shopping in Houston, including Market Street, The Woodlands Waterway and The Woodlands Mall.

o Medical expansion has been tremendous with Hermann Memorial Hospital continuing to expand, CHI St. Luke’s Hospital, Texas Children’s Hospital just completed, and Houston Methodist The Woodlands currently under construction.

o Future growth will be driven in part by the new 385-acre ExxonMobil corporate campus located to the south of The Woodlands that is expected to create an estimated 10,000-12,000 jobs and will be 3-4 million square feet upon completion.

MARKET STREET

THE WOODLANDS WATERWAY

THE CYNTHIA WOODSMITCHELL PAVILION


FOR SALESECTION I


THE WOODLANDS, TX

THE WOODLANDS MEDICAL AND ECONOMIC DRIVERS

Memorial Hermann Hospital351 Beds; 780 medical staff physicians, 1,300 employeesand 250 volunteers

St. Luke’s Hospital Campus 250 Beds and 1,200 employees

Texas Children’s Hospital 22 acre campus with a 548,000 SF facility

Houston Methodist The Woodlands Hospital 470,000 SF Hospital; 150,000 SF Medical Building (opening July 2017 with approx. 550 jobs)

Lone Star College – Montgomery County CampusOver 18,000 students and faculty

Sam Houston State University The Woodlands CenterOffering upper level undergraduate courses and graduate programs


FOR SALESECTION I


THE WOODLANDS, TX


FOR SALESECTION 1


THE WOODLANDS, TX

HOUSTON OVERVIEWo As part of the Houston metro area, residents of Montgomery benefit from the highly acclaimed attributes that

Houston has to offer.

o With a population of 2.3 million people, Houston is the largest city in Texas and the 4th largest city in the US. Houston is consistently a leader in population growth among major metro areas.

o Houston has a diverse economy, positioning itself as a global leader in energy, medicine, international businesses and technology. The Houston MSA is home to 26 Fortune 500 headquarters, ranking third among metro areas. Many other Fortune 500 companies maintain U.S. administrative headquarters in Houston.

o Houston is known as the "Energy Capital of the World". More than 3,700 located within the Houston Metropolitan Statistical Area, including more than 500 exploration and production firms, more than 150 pipeline transportation establishments and hundreds of manufacturers and wholesalers of energy-sector products. Houston is home to 40 of the nation's 134 publicly traded oil and gas exploration and production firms, including 10 of the top 25; nine more among the top 25 have subsidiaries, major divisions or other significant operations in the Houston area.

o Houston is also a world leader in the medical industry. Collectively, the 54 medical, academic and research institutions of the 1,000 acre Texas Medical center are Houston’s largest employer with over 106,000 medical professionals employed. The Medical Center receives over 7.2 million patient visits annually.

o Houston is home to NASA’s Johnson Space Center, which employs over 18,000 engineers, scientists and administrative personnel.

o The Port of Houston is a 25-mile long complex which is ranked first in the US in foreign waterborne commerce and ranked second in total tonnage. The Port is responsible for over $240 billion in annual trade value.


FOR SALESECTION I


THE WOODLANDS, TX

PROPERTY OVERVIEW

The property is a two story, atrium style office building with a porte-cochere, providing a covered patient drop-off area. It is conveniently located in the heart of The Woodlands near the Randall’s/Panther Creek Village Shopping Center, just north of Woodlands Parkway at Panther Creek Drive. The location provides convenient access to I-45 and four major hospitals (Memorial Hermann, CHI St. Luke’s Medical Center, Texas Children’s Hospital and Houston Methodist The Woodlands Hospital (under construction). Additional economic drivers for The Woodlands include a regional mall, The Woodlands Town Center District (including Market Street and Hughes Landing), Lone Star College, Sam Houston State University Center-The Woodlands, and the 365-acre Exxon Mobil Corporate Campus to the South.

The Village of Panther Creek is located on the western shore of Lake Woodlands and is within walking/biking distance to the Town Center. Panther Creek has over 12,000 residents and approximately 3,600 homes. It is home to some of the more desired neighborhoods such as Splitrock, West Isle, The Cove, and Windward Cove Neighborhood economic drivers include numerous schools (Sally Ride Elementary, Glen Loch Elementary, and McCullough Junior High), The Forum of The Woodlands assisted living facility, InterFaith of The Woodlands, and several churches, such as The Woodlands Community Presbyterian Church, St. Simon & Jude Catholic Church, Trinity Episcopal Church, Living Word Lutheran Church, Lord of Life Lutheran Church, and Woodlands Point Community Church.

LOCATION: Located one block from Woodlands Parkway & Panther Creek intersection, providing easy access to I 45.

ADDRESS: 4840 W Panther Creek Drive, The Woodlands, TX 77381

LAND AREA: 2.465 Acres

TAX ID #: 6913-00-00100

YEAR BUILT: 1999

LEGAL DESCRIPTION: LIFE FORMS OFFICE PARK, RES A, ACRES 2.465

NET RENTABLE AREA: 30,363 SF Gross Leasable Area (GLA)


FOR SALESECTION II


THE WOODLANDS, TX

INVESTMENT OVERVIEW

The J. Beard Real Estate Company is pleased to offer for purchase, the 30,373 S.F. Panther Creek Professional Plaza II at 4840 West Panther Creek

Drive in The Woodlands, Texas. The Woodlands is a 28,000-acre master-planned community, with a population of 106,670, located approximately

30 miles north of downtown Houston. Panther Creek Professional Plaza II is 97% occupied with established, long term Tenants with in-place income

and rental steps. Tenant’s also pay operating expense escalations above a base year expense stop

CURRENT % LEASED: 97%

AVERAGE LEASE RATE: Current Average Contact Rent is $26.32 PSF (below $29.29 PSF Market Survey)

PRICE: Not Disclosed

TENANT MIX: Medical Office; occupied by 10 tenants including: Body Benefits, Sleep Diagnostics, Read Frog, Axiom Med. Consultants, DeFord Law, Bluebonnet Endodontics, Aspire Pediatric Therapy, Axelrad Clinic, Pierce Capital Management, Michael Eshelman, DDS

LEASE STRUCTURE: Typical is Full-Service with Base Year Expense Stops in place.

LEASE EXPIRATIONS: Minimal rollover in next few years with only about 55% expiring before 2024

NOI: $515,041 (Budgeted 2017); $540,366 (12 months ending 6/18)


FOR SALESECTION II


THE WOODLANDS, TX

DEMOGRAPHICS1 MILE 3 MILE 5 MILE

Population 13,452 66,579 156,020

Avg. HH Income $105,729 $143,240 $124,464

*SOURCE: SITE TO DO BUSINESS

SURVEY


FOR SALESECTION II


THE WOODLANDS, TX

SITE

MOBBANK

MOBOFFICE

MULTI-FAMILY


FOR SALESECTION II


THE WOODLANDS, TX


FOR SALESECTION II


THE WOODLANDS, TX

INFORMATION PRESENTATION DISCLAIMER

The information contained in this presentation, while based upon data supplied by the Owner and from other sources deemed reliable, is subject to errors and omissions and is not, in any way, warranted by The J. Beard Real Estate Company, LP. All references to age, size, or square footage are approximate. Furthermore, The J. Beard Real Estate Company, LP, 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 and square footage of the property and improvements, the 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 tenant’s plans or intentions to continue its occupancy of the subject property. Any sale or lease contract should be subject to your verification of all pertinent data.

The Property, which is the subject of this presentation, is subject to prior lease, sale, and change in price or removal from the market at any time without notice. This presentation is for your use in determining the suitability of the Property contained herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

The J. Beard Real Estate Company, L.P.10077 Grogan’s Mill Road, Suite 135The Woodlands, Texas 77380Jeff Beard, CCIM281.367.2220 ext. 102 281.367.2232 [email protected]


FOR SALE


THE WOODLANDS, TX

mailto:[email protected]

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PANTHER CREEK PROFESSIONAL PLAZA II INVESTMENT …...for sale. panther creek professional plaza ii. 4840 w panther creek dr. the woodlands, tx. for more information contact: karyn