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+/- 4.26 Ac on Long Point Rd - Spring Branch Submarket

Houston, TX



AREA HIGHLIGHTS 

Location

The Property consists of 4.26 acres on Long Point Road in Houston, just one mile north of I-10. The Property is within three miles of a variety of high end retail and entertainment choices including Memorial City Mall, CityCentre, and Town & Country Village. Major area employers include the Memorial Hermann Memorial City Medical Center and Energy Corridor businesses.  Spring Branch Elementary school, one of many quality Spring Branch ISD campuses, is within walking distance of the Property. The Property is highly visible due to generous frontage on both Long Point Road and Spring Branch Drive.  It is ideally located a short distance from Beltway 8, I-10, I-610, and Highway 290, making any Houston destination easily accessible. 

 

Spring Branch Submarket

The Spring Branch submarket is characterized by its quality schools as well as its proximity to Memorial City and the Energy Corridor. Memorial City hosts the 2.5 million square foot Memorial Hermann Memorial City Medical Center and Houston’s second largest mall, the Memorial City Mall. More high end retail and entertainment is provided by CityCentre and Town & Country Village. The third largest employment center in Houston, the Energy Corridor boasts over 84,000 employees, 300 companies, 20.3 million square feet of office space and more than 1.3 million square feet of retail space. The number of employed persons in the Energy Corridor is expected to reach 128,000 by 2030.

 

Major Employment Centers (Approximate distance from Property)

Energy Corridor (5 miles)

  • Comprised of more than 19 million square feet of office space

  • Responsible for 36% of Houston’s total office absorption in the past three years

  • Office space projected to increase by 10.7 million SF by 2030

  • 84,000 employees with an expected 128,000 by 2030

  • The largest employers include BP America (9,537), Shell Oil Company (3,000), and ConocoPhillips (2,600)

  • Currently constructing an additional five million square feet of office space


Westchase Business District (6 miles)

  • Hosts over 1,500 businesses and 82,000 employees

  • 14.2 million square feet of office space in 97 buildings and 2.4 million square feet of retail space

  • Major employers (employees) include Jacobs Engineering (2,344), Halliburton (1,700), BMC Software (1,277), CB&I (930), Aker Solutions (687), Cameron (649), and Schlumberger (621) 

  • Granite Properties recently completed a 300,000 square foot office building

  • Behringer Harvard developing 332,000 square foot office tower featuring 12 stories and seven-level parking pedestal; construction scheduled to be complete in 2014

  • Future site of Phillips 66 14-acre Global Headquarters which has transitioned 1,600 employees to the area so far


Uptown District (5 miles)

  • 14th largest business district in the United States with over 23 million SF of office space

  • Galleria Class A, tier 1 office rents ($35.53) are approaching the CBD rents ($36.87) for the first time in the market’s history

  • BHP Billiton recently executed a 560,000 SF lease which represents significant commitment by one of the largest companies in the world

  • Home to over 2,000 companies including Apache Corporation, BHP Billiton, Cameron International Corporation, Hines REIT, and Weatherford International, Ltd.

  • Several projects (mixed-use and office) that are under construction or proposed and are expected to bring an increase in renter demand: 

    • BLVD Place: Phase II of BLVD Place will include 119,000 SF of retail space and 92,000 SF of office space (Summer 2014); Phase III of BLVD Place will include an office building for Apache Corp.

    • BBVA Compass Tower: offers 300,000 SF and was the first tower to be built in the Uptown District since 1983 (recently completed)

    • 3009 Post Oak: Skanska nears completion of their 300,000 SF office tower

    • BHP Billiton Tower: Will build a 30-story, 560,000 SF tower (Opening 2016)

 

Healthcare (Approximate distance from the Property)

Memorial Hermann Memorial City (2.5 miles)

  • Hosts Memorial Hermann Healthcare campus, totaling 2.5 million square feet of space

  • Recently underwent $92 million expansion, adding 1.5 million square feet

  • More than 1,600 employees, 1,000 medical staff physicians and 300 volunteers

  • Four medical plazas including award winning heart and vascular institute and a newly constructed 33-story Class A medical office tower comprised of 915,034 square feet

  • Offers local residents 434-bed facility with ER services, a Women’s Center, and a Cancer Center

  • Newly finished 22-story Westin hotel offering 267 guest rooms and upscale amenities

Future MD Anderson Development - Central Park Development (6.5 miles)

  • Located north of Interstate 10 and west of Eldridge

  • 78-acre development by Wolff Companies MD Anderson recently announced the acquisition of 34.5 acres which could bring 1,000 employees to the area when the first phase is complete

Texas Medical Center (9 miles)

  • Largest medical complex in the world covering 1,345 acres

  • 45.8 million square feet of commercial space

  • Hosts 21 highly esteemed hospitals (Methodist, Memorial Hermann, St. Luke’s)

  • 106,000 employees including 5,000 doctors, 15,000 nurses, and 5,700 researchers

  • More than 100,000 students

  • Undergoing $7.1 billion expansion to create 30,000 jobs through 2014 

  • Over 7.2 million annual visitors

     

 

Retail and Entertainment

Memorial City Mall (2.5 miles)

  • Receives an estimated 16 million visitors each year with approximately 53,964 cars traveling along Gessner per day

  • 150+ stores and restaurants, 1.7 million square feet of retail space

  • Anchored by Macy’s, Target, Sears, Dillard’s, JC Penney, and Cinemark Memorial City

  • Other retailers and restaurants include Apple, Coach, Pandora, Gap, Sephora, Abercrombie & Fitch, Cheesecake Factory, California Pizza Kitchen, Panera Bread, Cinemark

  • Nearby is “Restaurant Row”, which includes Ciro’s Italian Grill, Denis’ Seafood Houston, and Guadalajara Hacienda

City Centre Development (3.5 miles)

  • 425,000 square feet of Class A office space

  • 500,000 square feet of retail space that includes a Lifetime Fitness, 9-screen Studio Movie Grill, and many fashionable shops

  • Retail tenants include: Anthropologie, Bistro Bar, Eddie V’s, Houston Motor Club, J. Crew, Kendra Scott, Lululemon, Olive & Vine, RA Sushi, Ruggles Green, Sur La Table, The Capital Grille, The Tasting Room, Urban Outfitters, Yard House, and Z Gallerie

  • 245-room Hotel Sorella, a 4-Star hotel

Town and Country Village (3.5 miles)

  • 75 shops and services

  • Just added over 100,000 square feet of retail and office space with a phase III development

  • Includes retailers such as Gap, Ann Taylor, Banana Republic, Coldwater Creek, Talbots, White House Black Market, Pottery Barn, Williams-Sonoma, Restoration Hardware, Barnes & Noble, Bath & Body Works, Fleming’s Steakhouse, McCormick & Schmick’s, Escalante’s Mexican Grille, La Madeleine, Pronto Cucinino, Bank of America, and American Express Travel

  • Phase II-A will add 40,000 SF of retail space to the already existing 170,000 SF of Phase I, and is currently under construction

  • Phase II-B will include an additional 80,000 SF of retail space and 60,000 SF of office space;  construction is estimated to commence in the fall of 2013 and open in 2014

  • Phase II-C will complete construction with 275 high-end apartment units

  • In addition to Phase II’s retail, office and multifamily components, a Central Green Amphitheatre will be part of the second phase, offering 800-1,100 seats for special events

Energy Corridor (5 miles)

  • More than 1.3 million SF of retail space; expected to increase to 2.9 million SF by 2030

  • Diverse dining offers over 60 restaurants of all varieties

  • Twenty-five qualified hotels provide almost 4,000 rooms

  • Over 26,000 acres of natural space

  • 50 miles of bike trails and running trails offer residents abundant opportunity for healthy living

  • West Houston Trails is a master planned recreational project that strives to make commuting to work in the Energy Corridor and maintaining a healthy lifestyle easily attainable and convenient

Galleria (5 miles)

  • More than five million square feet of retail space

  • Approximately 1,000 stores

  • Boasts Houston’s most prestigious shopping including stores such as Neiman Marcus, Cartier, Hermes of Paris, Saks Fifth Avenue, Louis Vuitton, Ethan Allen, and Houston’s only Nordstrom

Village Plaza at Bunker Hill (1.5 miles)

  • HEB, Costco, Academy Sports & Outdoors, Lowe’s Home Improvement, Best Buy, Michael’s, GNC

  • SushiPop, Olive Garden, Five Guys Burger and Fries 

I-10 at Silber (3 miles)

  • IKEA, Walmart

  • Chick-fil-A

Marq*E Entertainment Center (3 miles)

  • Edwards Houston Marq*E Stadium 23 & IMAX, Improv Comedy Theater, LA Fitness, Dave & Buster’s

Wirt Road & Westview Dr (1.5 miles)

  • Kroger, Walgreens, RadioShack

  • EurAsia Fusion Sushi, Fratellis Ristorante

Education

Spring ISD

  • Encompasses about 44 square miles

  • Employs 4,581 teachers, staff, and administrators

  • Over 33,000 students

  • 5 schools for early learning and 26 elementary schools

  • 7 regular and 2 charter middle schools

  • 4 traditional and 1 alternative high school

  • 1 alternative middle and high school

  • 18 of the 46 SBISD campuses are rated Recognized or Exemplary by the Texas Education Agency (TEA)

  • Two Spring Branch ISD campuses are ranked No. 48 and No. 50, respectively, in the latest Washington Post ranking of U.S. secondary schools

 




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