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LAGOS RETAIL GROUP
W O O D L A N D SP l a z a S h opp i n g C e n t e r
P H A S E lE x e c u t i v e S u m m a r y
6 1 0 - 6 5 0 R A Y F O R D R O A D , S P R I N G , T E X A S 7 7 3 8 6
The Woodlands
Houston
Sugarland
League City
Katy
Cypress
Baytown
Pasadena
Spring
Humble
Rosenberg
Wharton
West Columbia
Hampstead
Pearland
Tomball
Texas City
288
145
35
36
36
60
6
Kemah
La Porte
Missouri City
SplendoraMagnolia
Dominant Retail Corridor in Proven Market
• Direct Frontage, Signage and Accessibility From Rayford and Richard Roads
• Cross Access Through Parking Lot to Signalized Hard Corner Intersection
• Rayford Road - 18,577 Vehicles Per day
• Less Than One Mile From U.S. Interstate 45
• Under One Mile From The Woodlands
• Under 1.5 Miles from ExxonMobil Headquarters
Quality Tenant Mix and Market Position
• 7.5 Percent CAP Rate
• All Service Tenants With NNN Leases
• High Cost Barrier to Entry Market
• Competitive Advantage on Below Market Rents
• Restaurant and Medical Buildouts
• Extreme Retail and Residential Growth Corridor
Excellent Demographics
• Estimated Population 166,162 | Median Household Income $88,095 Within Five Mile Radius
W O O D L A N D S P L A Z A S H O P P I N G C E N T E R P H A S E lH i g h l i g h t s
I N V E S T M E N T H I G H L I G H T S | 2
Marcus & Millichap is proud to exclusively represent the sale of Woodlands Plaza Shopping Center Phase I, a 15,412 square foot retail
center located in northern Houston’s fast paced growth corridor of Montgomery County. Specifically, the property is located in Spring and is
less than a mile away from the border of The Woodlands, Houston’s premiere and nationally recognized master planned community. The
property is 100 percent occupied including a 4,330 square feet three year master lease by service tenants with full triple net leases.
The property sits upon 1.37 acres fronting Rayford Road and allows for cross-access to the southeastern corner of Rayford’s signalized
intersection with Richard Road. Rayford Road plays an important role in the area’s overall traffic grid as it leads the area’s increasingly
dense residential population directly to and from Interstate 45, Houston’s primary north to south highway, which lies less than a mile from
the property. There is a large building sign highlighting the names of all current tenants that is visible heading both east and west on Rayford
Road. Additionally, the property is surrounded by a multitude of national retailers and single-family residential communities that consist of
exceptionally high net worth household demographic profiles. Area retailers include Walgreens, Raising Cane’s Fried Chicken, Starbucks,
Dollar General, Jack in the Box, Specs, McDonalds, H-E-B, Kroger and Walmart, amongst many others (see retail map).
Property flooded from the release of Lake Conroe’s dams after Memorial Day in 2016 (One Foot of Rising Water), and property
flooded from the release of Lake Conroe’s dams during Hurricane Harvey in 2017 (Five Feet of Rising Water).
W O O D L A N D SP l a z a S h opp i n g C e n t e r
P H A S E l
P R O P E R T Y O V E R V I E W | 3
Site
Rayford Road 18,577 VPDRi
char
ds R
oad
Walgreens
Mixed Martial ArtsHot Wok
Asian Cuisine
Express Family Clinic
GMKConsulting
A E R I A L | 4
WalgreensMixed Martial ArtsHot Wok
Asian Cuisine
Ray
ford
Roa
d18
,577
VPD
McDonald’s
Elite Nails Bar
+ 206,551 VPD
Express Family Clinic
GMKConsulting
Site
A E R I A L | 5
The Woodlands
Houston
Sugarland
League City
Katy
Cypress
Baytown
Pasadena
Spring
Humble
Rosenberg
Wharton
West Columbia
Hampstead
Pearland
Tomball
Texas City
Galveston288
145
35
36
60
146
146
Trinity Bay
Galves
ton B
ay
East BayKemah
La Porte
Missouri City
SplendoraMagnolia
MEDIAN HH INCOME
$90,0083 MILE RADIUS
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
2019 EST. POPULATION 6,831 88,763 166,162
2024 PROJECT POPULATION 7,647 100,858 187,058
2019 EST. MEDIAN HH INCOME $55,770 $90,008 $88,095
MEDIAN HOUSING VALUE $194,766 $224,868 $210,902
TOTAL HOUSEHOLDS 2,521 32,896 61,079
TRAFFIC COUNTS
RAYFORD ROAD 18,577 VPD
BUSINESSES 1 MILE 3 MILE 5 MILE
RETAIL 132 503 1,012
SCIENTIFIC & TECHNOLOGY 111 451 797
HEALTH CARE & SOCIAL ASSISTANCE 195 585 1,782
FINANCE & INSURANCE 71 391 681
TOTAL BUSINESSES 999 3,838 7,771
POPULATION
166,1625 MILE RADIUS
PROPERTY DEMOGRAPHICS W O O D L A N D SP l a z a S h opp i n g C e n t e r
P H A S E I
D E M O G R A P H I C S | 6
LEASE TERM5/01/2012 - 5/31/2022
GROSS LEASABLE AREA3,739 SQFT
PRO RATA SHARE OF PROJECT24.3%
HEADQUARTEREDSPRING, TEXAS
NO. OF LOCATIONS1
Hopscholar.com
@HopScholar@SabbaticalSpirits
T E N A N T O V E R V I E W | 7
ABOUT HOP SCHOLAR ALE HOUSE& SABATTICAL AT HOP SCHOLAR
Hop Scholar Ale House is a critically acclaimed craft beer bar located in Spring with more than 35 local, regional and national beers on tap that are rotated regularly. The Ale House boasts a 4.7 star rating on facebook with hundreds of votes. With dozens of beers on tap and still more bottled and canned, Hop Scholar is a craft brew, beer drinker’s paradise. Among the craft beers featured at Hop Scholar include selections from Southern Star Brewing, Lone Pint Brewery, Karbach Brewing Company and St. Arnold’s Brewing Company.
Hop Scholar’s craft cocktail bar is called Sabbatical at Hop Scholar. Sabbatical features over 300 bottles on their shelves and brings a focus on quality ingredients, clever combinations, and classic methods. Sabbatical brings a unique offering to Spring and The Woodlands. Sabbatical brings a lot of traffic to their bar during their Tiki Tuesdays events and Happy Hour.
LEASE TERM5/01/2011 - 4/30/2020
GROSS LEASABLE AREA2,340 SQFT
PRO RATA SHARE OF PROJECT15.2%
HEADQUARTEREDSPRING, TEXAS
ABOUT EXPRESS FAMILY CLINIC
Dr. Melissa Herpel opened Express Family Clinic in 2011 focusing on taking care of the people who are most in need of medical care - the uninsured. Express Family Clinic boasts 4.9 stars on Google Reviews with 50 reviews. Her excellent staff, quality of service, and prices have spurred her success to grow her clinic to three locations.
Herpel, who has worked as a nurse practitioner for five years, opened her clinic, Express Family Clinic, on Rayford Road to serve the areas of Spring and The Woodlands. She graduated from Prairie View A&M University in 2004 with her BS in Nursing and began practicing as a cardiovascular nurse at St. Luke’s Episcopal Hospital in the Medical Center. Melissa earned her MS in Nursing from Prairie View A&M University in 2007.
NO. OF LOCATIONS3
expressfamilyclinic.com
T E N A N T O V E R V I E W | 8
1.33
$250.45
7.50%CAP RATE
LOT SIZE
PRICE PER SF
$3,860,000OFFERING PRICE
CAP Rate 7.50%Number of Suites 7Price Per Square Feet $250.45
Gross Leasable Area 15,412 SF
Lot Size 1.33 AcresYear Built 2004Occupancy 100.00
ACRES
LAGOS RETAIL GROUP
F I N A N C I A L O V E R V I E W | 9
W O O D L A N D S P L A Z A S H O P P I N G C E N T E R P H A S E I610-650 Rayford Road, Spring, Texas 77386
Asking Price $3,860,000
Price Per Square Foot $250.45 / SF
GLA 15,412 SF
CAP Rate 7.50%
Year Built 2004
C Y P R E S S W O O D K R O G E R C E N T E R19724 State Highway 249, Houston, Texas 77070
Sold Price $9,650,00
Price Per Square Foot $277.86
GLA 34,730 SF
CAP Rate 8.02%
Year Built 1996
Occupancy 100%
Sold Date April 2019
1
SALES COMPARABLES / /
1
W O O D L A N D S P l a z a S h opp i n g C e n t e r P H A S E I
*Notes to Cypresswood Kroger Center Sales Comp: The property had significant flood damage due to Hurricane Harvey. Property was sold after Kroger and the retail center’s suites were repaired and reopened.
S A L E S C O M P A R A B L E S | 10
N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E
C O N F I D E N T I A L I T Y & D I S C L A I M E RThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from
Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has
been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap 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. The information contained in this Marketing Brochure has been obtained from sources we believe to
be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real
Estate Investment Services, Inc.
© 2018 Marcus & Millichap. All rights reserved.
N O N - E N D O R S E M E N T N O T I C EMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of
any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its
affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
information about this listing to prospective customers. Activity ID: ZAB0040150
A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N LY.P L E A S E C O N S U LT Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E TA I L S .
OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com
INFORMATION ABOUT BROKERAGE SERVICESTexas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords..
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 propertymanagement 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 transactionknown 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 agentmust 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 informationdisclosed 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 written agreement of each party to the transaction. The writtenagreement must state who will pay the broker and, in conspicuous bold or underlined 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:
o that the owner will accept a price less than the written asking price;o that the buyer/tenant will pay a price greater than the price submitted in a written offer; ando any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, 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. Pleaseacknowledge receipt of this notice below and retain a copy for your records.
Marcus & Millichap 9002994 [email protected] 972-755-5200Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Tim A. Speck 432723 [email protected] 872-755-5200Designated Broker of Firm License No. Email Phone
Ford Noe 709695 [email protected] 713-452-4200Licensed Supervisor of Sales Agent/Associate License No. Email Phone
11-2-2015
Information available at www.trec.texas.govIABS 1-0
Regulated by the Texas Real Estate Commission
GUS N. LAGOSFirst Vice President Investments Director, National Retail Group
Direct: (713) 452-4257 Mobile: (713) 459-1333 [email protected]: TX: 419197
Three Riverway, Suite 800Houston,TX 77056
ALEX WOLANSKYAssociateNational Retail Group
Direct: (713) 452-4292 Mobile: (713) [email protected]: TX: 702899
Three Riverway, Suite 800Houston,TX 77056
EXCLUSIVELY LISTED BY:
