WILLOWBROOK SHOPPING CENTER · PDF fileFly-Zone Trampoline Park is an entertainment park ... to stifle the city’s growth. WILLOWBROOK SHOPPING CENTER ... 2017 TAX 1157820010042 Main

STABILIZED RETAIL CENTER SHADOW ANCHORED BY REGIONAL MALL

WILLOWBROOK SHOPPING CENTER

249

1960

PROPERTY INFORMATION

RAVENEAUXGOLF COURSE

CHAMPIONSGOLF COURSE

249

TOMBALL PKWY

HWY 249

HWY 249

MILLS RD

GRANT RD

PERRY RD

FM 1960

RICHEY RD

BAMM

EL NO

RTH H

OUST

ON RD

CUTTEN RD

CHAMPIONS DR

CYPRESSWOOD DR

STUEBNER AIRLINE RD

GESS

NER R

D

164,348 CPD

119,200 CPD

52,000 CPD

61,000 CPD

31,970 CPD31,610 CPD

46,000 CPD

48,000 CPD

17,270 CPD

13,460 CPD

60,750 CPD

57,150 CPD

CHAMPIONS FOREST DR

The Container Store, Ann Taylor, Victoria’sSecret, Jos. A Bank, White House|Black

Market, GAP, GAP Kids, Francesca’sCollection, Silver Spoon, Coldwater Creek,

Talbots, Thomas Markie Fine Jewelers, LOFT

CHAMPIONS FOREST PLAZA

Barnes & Noble, Palais Royal, Randall’sFlagship, Stein Mart, World Market, Bath &

Body Works, James Avery,UPS Store, Supercuts, Hallmark, Merle

Norman, Kirklands Home, Claires, Zales,Massage Heights

SUPER CENTER

Alamo Draft House, All About Feet, Anything Bling Boutique, Art Class & Wine Glass, Asha Handcrafted

Jewelry, B. de Vine, Blu Ivory, GNC, Ground Up Athletics, Haddad Jewelers, Imagination Toys & Shoes, Jeanne’s

Monogramming & Gifts, LaVeVee Couture, Lavo Collections, Lizzy G’s Fine Gifts, Lone Star Tobacco, Lulla Blue, Natural Pawz, Oh Honey, Potter’s Wheel, T. Carolyn

Fashions, That Absolutely Fabulous Paper Emporium, The Ivy League Menswear – TILMens, The Luxury Shirt Company

SITESITE

OFFERED FOR SALE Total GLA 27,371 SFLocation 7885 FM 1960 West, Houston, TX 77070Occupancy 100%NOI $237,184Sale Price $3,095,000 (Financing Available)

Willowbrook Shopping Center is a 27,371 SF 100% leased, multi-tenant retail center located at 7885 FM 1960 West at the regional intersection of Hwy 249 and FM 1960 in Houston, Harris County, TX. The center was built in 1997, has tilt wall construction with a stucco façade, along with a concrete parking lot. Willowbrook Shopping Center is comprised of two tracts

of land totaling 2.38 acres and is surrounded by over 2.7 million SF of retail. The property is shadow anchored by Willowbrook Mall and fronts the mall ring road. Willowbrook Mall is a newly renovated GGP Mall with over 19 million annual visitors.

OFFERED FOR SALE

2

WILLOWBROOK SHOPPING CENTERMALL SHADOW ANCHORED | STABILIZED RETAIL CENTER FOR SALE

AREA RETAILERS

INVESTMENT HIGHLIGHTS - 100% Leased, New Anchor Tenant on Long Term Lease- Outparcel to Willowbrook Mall, a Recently Renovated GGP Mall- Located in the Regional Retail Hub of the Willowbrook Trade Area- Plato’s Closet has Historically been a Top Performing Store within the Chain for Houston- Area fueled by the Completion of the $1.1 Billion Grand Parkway Expansion, Northwest Houston is Rapidly Expanding with Retail and Residential - Grand Parkway Impact of an Estimated 3,500 Future Lots to Deliver within a 5-Mile Radius- Average Household Incomes Greater than $88,000 per Year Within a 3-Mile Radius- Cross Access and Shared Parking Provided per Reciprocal Easement and Operating Agreement

AREA EMPLOYERS

Hospital atThe Vintage

3


LOCATION: SEQ of Hwy 249 & FM 1960ADDRESS: 7885 FM 1960 West, Houston, TX 77070PARCEL SIZE: 1.59 Acres - Main Shopping Center 0.79 Acres - Adjacent TractYEAR BUILT: 1997BUILDING NRA: 27,371OCCUPANCY: 100%PARKING RATIO*: 156 parking spaces (5.7/1,000) in addition to cross access and shared parkingCONSTRUCTION: Tilt wall, stucco façade and concrete parking lotNOI: $237,184CAP RATE: 7.66%SALE PRICE: $3,095,000 (Financing Available)

*Parking ratio includes both tracts

INVESTMENT OVERVIEW

4


TENANT OVERVIEW

Plato’s Closet | 7,648 SF

Plato’s Closet (NASDAQ: WINA) buys and sells the latest looks in brand name gently used clothing and accessories for teens and young adults. As the leading national teen resale chain, Plato’s closet has more than 450 store locations throughout North America and continues to expand. Plato’s Closet has ranked number one in its category in Entrepreneur Magazine’s Franchise 500 list from 2011-2016 and was a Top Ranked Franchise Investment by Forbes Magazine in the $150,001- $500,000 category in 2014 and 2015. Plato’s Closet is a subsidiary of Winmark Corporation, headquartered in Minneapolis, Minnesota. Winmark is a recognized leader in franchise-owned and operated businesses, with over 1,200 franchises in North America. Winmark entered the franchising business in 1988 with the award-winning Play It Again Sports concept. Additional franchise businesses are: Once Upon A Child, Music Go Round and Style Encore. All of the Winmark brands buy, sell, trade, and/or consign used and new brand-name merchandise.

www.platoscloset.com

iRise Trampoline & Fitness Park | 19,723 SF

iRise Trampoline & Fitness Park is an entertainment park offering safe, fun, clean and affordable attractions to a wide range of customers. iRise features a variety of wall-to-wall trampoline activities as well a kid’s adventure park, trampoline basketball, dodgeball and a ninja park. iRise specializes in birthday parties and large group events, as well as free jump time, toddler time and a variety of fitness classes. The company is owned by the founders of Gadget MD, a well-recognized brand in the electronic repair business with 14 locations throughout the Houston MSA. They are hands-on owners with multiple business/franchises including ZAGG, Johnny Rockets and Gadget MD.

www.irisepark.com

5


http://www.platoscloset.com

http://www.platoscloset.com

HOUSTON OVERVIEW

HOUSTON’S NATION-LEADING STATISTICS

Houston has a GDP of $524 billion, making it the fourth largest city in the United States and the largest city by population in Texas. The Perryman Group, a Texas-based economic and financial analysis firm, recently released its latest GDP, population and employment forecasts. The group expects the Houston metro area’s GDP to grow at a compound annual growth rate of 3.1 percent from 2015 to 2040 and reach $998.8 billion in 2040. Over 6.8 million people call the Houston metropolitan statistical area (MSA) home. Houston has consistently been a national leader in employment and population growth. The Houston MSA population grew by over 852,000 residents between 2010 and 2017, with an average of 120,000 projected new residents added each year. It also boasts the second fastest-growing housing market in the United States.

The Houston MSA has added over 1.2 million jobs over the past 25 years, ranking it third in the nation and currently hosts a record high 3,061,600 people employed with an additional 45,000 new jobs forecasted for 2018. The rapid job growth can be attributed to the 20 Fortune 500 headquarters, and 53 Fortune 1000 companies located in Houston, ranking it third among metro areas. The Houston MSA is currently ranked the number two metro for new and expanded corporate facilities and is the number one region in the state for corporate growth. The city’s healthcare sector was the largest sector in 2017, surpassing energy and continues to grow rapidly. The Texas Medical Center (TMC) is the largest medical complex in the world and the largest single employer in the city of Houston. With 21 renowned hospitals, 106,000 employees, 10 million visits per year, the TMC generates $25 billion in GDP, and is the 8th largest business district in the United States. There are currently $3 billion in construction projects underway, including the planned $1.5 billion TMC3 Collaborative Institute, a new research campus to leverage the collective power of TMC’s renowned institutions in a shared, centrally managed environment. Houston’s economy is also anchored by the Port of Houston, one of the world’s busiest ports. The Port of Houston is ranked first in the U.S. in both domestic import and export tonnage and second in the U.S. in total tonnage and creates more than one million Texas jobs, generating more than $265 billion in statewide economic impact equating to 16% of state GDP.

The city boasts a steadily growing housing market, currently ranked second in the nation in housing starts, behind Dallas. According to the Houston Association of Realtors, in 2017 Houston had multiple record-breaking months of single-family home sales, surpassing the historical 8,000 homes per month mark, while prices have continued on an upward trend. Tax rates are low and the city’s political climate is aggressively pro-business, with officials consistently opposing new zoning laws so as not to stifle the city’s growth.

No. 1 Most Industrial Construction in the Past Decade CommercialCafe October 2017

No. 1 Top Destination Cities U-Haul May 2017

No. 1 Top U.S. Metro for Exports in 2015 Department of Commerce September 2016

No. 1 Top Metro Residential Growth from 2014-2015 U.S. Census March 2016

No. 1 Top Market for Real Estate Investment for 2015 Houston Chronicle October 2014

No. 1 Market to Watch in 2015 Urban Land Institute October 2014

No. 1 Best Cities for Manufacturing Forbes June 2014

No. 1 Top U.S. Manufacturing Cities Manufacturers’ News January 2014

No. 1 Strongest Economy PPR Global December 2013

No. 1 Top Cities for Global Trade Global Trade August 2013

6


Willowbrook Dr.

Centerfield Dr.Katy

Sugar Land

Tomball

Pearland

Houston

290

59

45

10

61099

6

8

Willowbrook Mall

WILLOWBROOK AREA TRADE OVERVIEW • Located in Northwest Houston, Willowbrook is affluent and well educated and continues to expand to the north with new

retail, office, medical and residential. The average household income is $88,000 per year and home values range from $200,000 to over $1 million.

• Willowbrook Mall (GGP), a regional mall for northwest Houston, has been newly renovated and features a category-leading roster of anchor tenants including Dillard’s, Nordstrom Rack, Dick’s Sporting Goods, Zara, Forever 21, H&M, Macy’s and JCPenney.

• Super regional intersection of Hwy 249 and FM 1960, the major East-West traffic corridor of Northwest Houston, allows for exceptional access to Beltway 8, Grand Parkway expansion and Bush Intercontinental Airport.

• Located 4 miles away from The Vintage, a 630 acre master planned community and mixed-use development with approximately 1,600 new and future homes planned and 1,500 multi-family units.

• Strong daytime population from national companies including Chevron Pipeline, Methodist Willowbrook Hospital, Noble Energy, Hewlett Packard and Sam Houston Race Park.

DEMOGRAPHICS1 MILE 3 MILES 5 MILES

Population 10,761 94,740 307,623

Daytime Population 24,210 131,300 328,097Average HH Income $78,086 $87,961 $88,8852016 STDB Demographic Estimates

TRAFFIC COUNTSHwy 249 S of 1960 119,200 cpd

Hwy 249 N of 1960 164,348 cpd

1960 E of Hwy 249 52,000 cpd

1960 W of Hwy 249 61,000 cpd

REAL ESTATE TAXESThe property falls under the jurisdiction of Harris County Texas and the Cypress-Fairbanks Independent School District.

HCAD ACCOUNT LOCATION PARCEL SIZE 2017 TAX

1157820010042 Main Shopping Center 1.59 AC $2,020,499

1157820010043 Adjacent Tract .79 AC $428,614

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SITESITE

164,348 CPD

152,949 CPD

92,000 CPD

119,200 CPD

52,000 CPD

61,000 CPD

58,629 CPD

25,2433333 CPD42,810 CPD

35,731 CPD

14,513 CPD

27,600 CPD

CYPRESSWOOD DR

CUTTEN RDCHAM

PION FOREST DR

CHAMPIONS DR

TOMBALL PKW

YMILLS RD

GRANT RD

LOUETTA RD

SPRING CYPRESS RD

FM 1960

FM 1960

JONES RD

PERRY RD

GESSNER RD

HWY 249

HWY 249



249

8

2,000 +/- EmployeesApproximately 312,000 SF

Additional 850,000 SF Planned

50,000 SF195 Beds

Over 500 Employees

C H A S EWOODC R O S S I N G

212,000 SF

463,969 SFAdditional 500,000 SF Planned

Hospital atThe Vintage

192,000 SF Office122,000 SF Industrial 60,000 SF

over 20 Physicians

1,449,632 SF19 Million Visitors per Year

212,000 SF78 Beds

150 Employees

11,500 Students1.2 Million SF

Centre at Cypress Creek

954,000 SF1,600 +/- Employees

10,000 +/- Employees692,812 SF Office

AREA EMPLOYERS

8


PROJECTED ANNUAL OPERATING STATEMENT

IN-PLACE

Base Rent

Occupied Space (1) 237,184

Vacant Space @ Market —

Gross Potential Rent 237,184

Total Reimbursements 104,305

Gross Income 341,488

Less: General Vacancy —

Effective Revenue 341,488

Reimbursable Operating Expenses

CAM 24,059

Real Estate Taxes 69,064

Insurance 4,911

Management Fee 6,271

Total Reimbursements 104,305

Net Operating Income $237,184

(1) Plato’s rental rate of $14.25 per exercise of most recent option

9


FINANCIALS AVAILABLE UPON EXECUTION OF CONFIDENTIALITY AGREEMENT

10


TENANT iRise Trampoline & Fitness Park Plato’s Closet

SQ. FT. 19,723 7,648

LEASING PLAN*W

illowbrook Dr

Centerfield Dr

7,648 SF

16

10

8

2

4

4

8

8

9

6

23

9

11

4

21

15

Adjacent Tract.79 Acres

19,723 SF

Cross access and shared parking per Reciprocal Easement Access Agreement dated June 17, 1985.

*Representative leasing plan, not to scale.

11




249

TOMBALL PKWY

HWY 249HW

Y 249

MILLS RD

GRANT RD

PERRY RD

FM 1960

RICHEY RD

BAMM

EL NO

RTH H

OUST

ON RD

CUTTEN RD

CHAMPIONS DRCYPRESSWOOD DR

STUEBNER AIRLINE RD

GESS

NER R

D

164,348 CPD

119,200 CPD

52,000 CPD

61,000 CPD

31,970 CPD31,610 CPD

46,000 CPD

48,000 CPD

17,270 CPD

13,460 CPD

60,750 CPD

57,150 CPD

CHAMPIONS FOREST DR

The Container Store, Ann Taylor, Victoria’sSecret, Jos. A Bank, White House|Black

Market, GAP, GAP Kids, Francesca’sCollection, Silver Spoon, Coldwater Creek,

Talbots, Thomas Markie Fine Jewelers, LOFT

CHAMPIONS FOREST PLAZA

Barnes & Noble, Palais Royal, Randall’sFlagship, Stein Mart, World Market, Bath &

Body Works, James Avery,UPS Store, Supercuts, Hallmark, Merle

Norman, Kirklands Home, Claires, Zales,Massage Heights

SUPER CENTER

Alamo Draft House, All About Feet, Anything Bling Boutique, Art Class & Wine Glass, Asha Handcrafted

Jewelry, B. de Vine, Blu Ivory, GNC, Ground Up Athletics, Haddad Jewelers, Imagination Toys & Shoes, Jeanne’s

Monogramming & Gifts, LaVeVee Couture, Lavo Collections, Lizzy G’s Fine Gifts, Lone Star Tobacco, Lulla Blue, Natural Pawz, Oh Honey, Potter’s Wheel, T. Carolyn

Fashions, That Absolutely Fabulous Paper Emporium, The Ivy League Menswear – TILMens, The Luxury Shirt Company

SITESITE

AREA DEVELOPMENT PLAN

12


CONFIDENTIALITY AGREEMENT & DISCLAIMERTranswestern1900 West Loop South, Suite 1300Houston, TX 77027713.270.7700 / Fax 713.401.1461

CONFIDENTIALITY STATEMENTWillowbrook Shopping Center7885 FM 1960 WestHouston, TX 77070

The undersigned has been advised that Transwestern Property Company SW GP, L.L.C. dba Transwestern has been retained on an exclusive basis by the Owner with respect to the offering or sale of Willowbrook Shopping Center, 7885 FM 1960 West, Houston, TX 77070 (the “Property”). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to Transwestern. All fees due Transwestern in connection with the sale of the Property shall be paid by the Owner. The undersigned hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property and agrees that it will not look to the Owner, the Owner’s Lender or Transwestern for any fees or commissions in connection with the sale of the Property. The undersigned also hereby acknowledges that is has not dealt with any broker, other than Transwestern, and Co-Broker identified on subsequent signature page, regarding the acquisition of the Property, or if it has, the undersigned hereby agrees to indemnify the Owner, the Owner’s Lenders and Transwestern against any compensation, liability or expense, arising from claims by Co-Broker, or any other broker or other party the undersigned had dealings with in connection with the sale of the Property.

The Owner has available for review certain information (“Confidential Information”) concerning the Property. On behalf of the Owner, Transwestern may make such Confidential Information available to the undersigned upon execution of this Confidentiality Statement. The Confidential Information is intended solely for your own limited use in considering whether to pursue negotiations to acquire the Property.

This is not an agreement to sell the Property, nor an offer of sale. No agreement binding upon the Owner of the Property, or any of its associated or affiliated companies, shall be deemed to exist, at law or equity, until the Owner of the Property enters into a formal binding agreement of sale.

The Confidential Information contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by Owner and Transwestern, primarily from information supplied by the Owner or Owner’s Agent. It does not purport to be all inclusive or to contain all the information which a prospective purchaser may desire. Neither Transwestern, the Owner nor the Owner’s Lender make any representation or warranty, express or implied, as to the accuracy or completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto.

By executing this Confidentiality Statement you agree that the Information provided is confidential, that you will hold and treat it in the strictest of confidence, and that you will not disclose or permit anyone else to disclose the Information to any person, firm or entity without prior written authorization of the Owner and Transwestern except that the information may be disclosed to your partners, employees, legal counsel and lenders or pursuant to a court order. Owner expressly reserves the right in its sole discretion to reject any or all proposals or expressions or interest in the property and to terminate discussions with any party at negotiations you hereby agree to return the Confidential Information to Transwestern.


On Behalf of Prospective Purchaser: Co-Broker (if any)

Company: Company:

Address: Address:

City: City:

State: ZIP: State: ZIP:

Phone: Phone:

Fax: Fax:

E-mail: E-mail:

By: By:

Its: Its:

Date: Date:

Signature: Signature:


INFORMATION ABOUT BROKERAGE SERVICES

TYPES OF REAL ESTATE LICENSE HOLDERS• A BROKER is responsible for all brokerage activities, including acts

performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with

clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others, including the

broker’s own interests;• Inform the client of any material information about the property or

transaction received by the broker;• Answer the client’s questions and present any offer to or counter-

offer from the client; and• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the writtenagreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold orunderlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:• Must treat all parties to the transaction impartially and fairly;• May, with the parties' written consent, appoint a different license

holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose:

• that the owner will accept a price less than the written asking price;

• that the buyer/tenant will pay a price greater than the price submitted in a written offer; and

• any confidential information or any other information that a party specifically instructs the broker in writing not todisclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities to you, and your

obligations under the representation agreement.• Who will pay the broker for services provided to you, when

payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Buyer/Tenant/Seller/Landlord Initials

Reglated by the Texas Real Estate Commission Information available at www.trec.texas.govIABS 1-0

Date

Licensed Broker/Broker Firm Name or Primary Assumed Business Name

Designated Broker of Firm

Sales Agent/Associate's Name

License No.

License No.

License No.

Email

Email

Email

Phone

Phone

PhoneTranswestern Property Company SW GP, L.L.C

[email protected]

[email protected]

Steve Ash

Micha van Marcke

466196 713.270.7700

713.270.3365

713.272.1231

392519

489879

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Transwestern | 1900 West Loop South, Suite 1300 | Houston, TX 77027 | P: 713.270.7700 | www.twhoustonretail.comThe information contained herein was obtained from sources believed reliable. However, Transwestern 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 of price or conditions, prior sale or lease, or withdrawal without notice.

Micha van Marcke, CCIMSenior Vice [email protected]

713.272.1231

Chace HenkeVice President [email protected]

713.272.1274

FOR INFORMATION CONTACT:

Documents

WILLOWBROOK SHOPPING CENTER · PDF fileFly-Zone Trampoline Park is an entertainment park ... to stifle the city’s growth. WILLOWBROOK SHOPPING CENTER ... 2017 TAX 1157820010042 Main