TRINITY PROFESSIONAL CENTER PEARLAND, TX (HOUSTON MSA)
PRI CING & F INAN CI AL AN ALYSI S
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
Trinity Professional Center 1910-1930 Country Place Pkwy Pearland, TX 77584
OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built
$26,700,000 7.39% $1,972,062 $297.83 94% 2005/2008
Gross Leasable Area
89,649 SF
Lot Size
5.24 Acres
F I N A N C I A L A N A LY S I S
2
PRI CING & F INAN CI AL AN ALYSI S
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space
94%
GROSS POTENTIAL RENT
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
CURRENT
PSF
EXPENSES
CURRENT
PSF
$1,983,854
$22.13
Real Estate Taxes
$185,490
$2.07
$1,983,854
$22.13
Insurance
$55,609
$0.62
Elevator
$4,047
$0.05
Janitorial
$47,380
$0.53
Landscaping
$10,908
$0.12
Pest Control
$1,754
$0.02
Office CAM
Expense Reimbursements Real Estate Tax Recoveries
$139,848
$1.56
Insurance Recoveries
$74,053
$0.83
CAM Recoveries
$247,636
$2.76
Management Recoveries
$59,032
$0.66
Repairs & Maintenance
$20,917
$0.23
Total Expense Reimbursements
$520,568
$5.81
Security
$8,272
$0.09
Century Link Rent
$4,800
$0.05
Trash / Dumpster
$2,946
$0.03
Total Other Revenue
$4,800
$0.05
Electric
$62,084
$0.69
$2,509,222
$27.99
Water/Sewer
$16,853
$0.19
Internet
$5,526
$0.06
Advertising
$1,355
$0.02
EFFECTIVE GROSS REVENUE Operating Expenses Office Taxes
$112,372
$1.60
Retail Taxes
$73,118
$3.77
Site cleaning
$1,083
$0.01
Total Real Estate Taxes
$185,490
$2.07
Landscaping
$9,005
$0.10
Office Insurance
$39,549
$0.44
Pest Control
$649
$0.01
Retail Insurance
$16,060
$0.18
Repairs & Maintenance
$3,429
$0.04
Total Insurance
$55,609
$0.62
Trash / Dumpsters
$5,586
$0.06
Total CAM
$209,474
$2.34
Utilities - Water/Sewer
$7,680
$0.09
$86,585
$0.97
$209,474
$2.34
Total Recoverable Expenses
$537,157
$5.99
$86,585
$0.97
Net Operating Income
$1,972,062
$22.00
$537,157
$5.99
Management Fee
3.45%
Retail CAM
Total CAM Management Fee Total Expenses
3.45%
F I N A N C I A L A N A LY S I S
3
RE NT RO L L
Tenant
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
Suite
SQ FT
% of SQFT
Lease Dates Start
Minimum Rent
End
Lease Type
Annual
Monthly
PSF
Medical Office Building AiLife
100
2,960
3.30%
12/18
11/28
$60,680
$5,057
$20.50
Office NNN + MGMT
Texas Vein & Wellness Institute
110
3,188
3.56%
06/19
03/26
$100,752
$8,396
$31.60
Office NNN + MGMT
Airrosti Rehab Center
130
1,259
1.40%
09/17
11/27
$32,105
$2,675
$25.50
Office NNN + MGMT
CTMI Inc
140
1,434
1.60%
06/19
05/24
$32,265
$2,689
$22.50
Office NNN + MGMT
Available
150
2,784
3.11%
-
-
$0
$0
$0.00
-
Texas Institute of Pain & Spine
160
4,409
4.92%
03/16
01/29
$95,894
$7,991
$21.75
Office NNN + MGMT
Cordoba Law Firm
170
1,653
1.84%
06/22
05/27
$35,532
$2,961
$21.50
Office NNN + MGMT
Pending Tenant
2nd Floor
19,420
21.66%
-
-
$427,200
$35,600
$22.00
Office NNN + MGMT
Interim Healthcare
310
6,714
7.49%
06/20
04/28
$137,637
$11,470
$20.50
Office NNN + MGMT
Amegy Bank
320
3,672
4.10%
05/16
01/28
$116,586
$9,716
$31.75
Gross
Dynamic Arthritis Care
340
2,507
2.80%
07/17
06/32
$64,179
$5,348
$25.60
Office NNN + MGMT
STPN, Inc HCA Hosp
350
3,584
4.00%
09/21
08/26
$75,264
$6,272
$21.00
Office NNN + MGMT
Oncology Consultants
370
2,896
3.23%
03/16
02/28
$69,504
$5,792
$24.00
Office NNN + MGMT
Cobb Fendley
400
11,105
12.39%
11/19
11/26
$235,981
$19,665
$21.25
Office NNN + MGMT
Available
410
2,652
2.96%
-
-
$0
$0
$0.00
-
Total Count/GLA
13
64,801
92.3%
Available
2
5,436
7.7%
Totals
$1,483,578 $123,632
F I N A N C I A L A N A LY S I S
4
RE NT RO L L
Tenant
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
Suite
SQ FT
% of SQFT
Lease Dates Start
Minimum Rent
End
Lease Type
Annual
Monthly
PSF
Retail Building - 1910 Texas State Optical
102
1,942
2.17%
06/16
04/32
$54,764
$4,564
$28.20
Retail NNN + MGMT
Dr. Watkins DDS
104
1,575
1.76%
05/16
04/26
$44,415
$3,701
$28.20
Retail NNN + MGMT
Cardiac Wellness Clinic
106
1,410
1.57%
07/16
06/25
$35,532
$2,961
$25.20
Retail NNN + MGMT
Aphcan Diagnostics, LLC
108
1,225
1.37%
08/23
07/28
$26,460
$2,205
$21.60
Retail NNN + MGMT
Backstrong Chiropractic
110
965
1.08%
06/16
05/26
$24,897
$2,075
$25.80
Retail NNN + MGMT
Amegy Bank
112
2,575
2.87%
07/16
06/26
$64,375
$5,365
$25.00
Retail NNN + MGMT
Total Count/GLA
6
9,692
100%
Totals
$250,443
$20,870
Retail Building - 1930 LA Crawfish
150
2,500
2.79%
05/16
04/26
$65,625
$5,469
$26.25
Retail NNN + MGMT
Alliance MRI
154
3,500
3.90%
07/21
06/29
$92,400
$7,700
$26.40
Retail NNN + MGMT
Pending Tenant
156
2,520
2.81%
-
-
$65,167
$5,431
$25.86
Retail NNN + MGMT
Gear Monkey Bike Repair
158
1,200
1.34%
12/20
11/25
$26,640
$2,220
$22.20
Retail NNN + MGMT
Total Count/GLA
4
9,720
100%
Totals
$249,832
$20,819
Trinity Professional Complex - Combined Property Total Count/GLA
25
89,649
100%
Occupied
23
84,213
93.9%
Available
2
5,436
6.1%
$1,983,854
$165,321
F I N A N C I A L A N A LY S I S
5
L E A SE PROVIS ION S Tenant
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X Suite
Base Rental Increases
SQ FT Date
Renewal Options PSF
Options
Date
PSF
$21.10 $21.70 $22.30 $22.90
1 x 3-5
12/1/2023
MKT Rate
Medical Office Building AiLife
100
2,960
12/1/2024 12/1/2025 12/1/2026 12/1/2027
Texas Vein & Wellness Institute
110
3,188
6/1/2024
$32.60
1x5
4/1/2026
MKT Rate
Airrosti Rehab Center
130
1,259
12/1/2024 12/1/2025 12/1/2026
$26.25 $27.00 $27.75
-
-
-
CTMI Inc
140
1,434
-
-
-
-
-
Available
150
1,569
-
-
-
-
-
$22.50 $23.25 $24.00 $24.75
-
-
-
Texas Institute of Pain & Spine
160
4,409
01/01/2025 01/01/2026 01/01/2027 01/01/2028
Cordoba Law Firm
170
1,653
06/01/2024 06/01/2025 06/01/2026
$22.00 $22.50 $23.00
1 x 3-5
6/1/2027
MKT Rate
2nd Floor
19,420
-
-
-
-
-
$21.15 $21.80 $22.45 $23.10
-
-
-
Pending Tenant
Interim Healthcare
310
6,714
05/01/2024 05/01/2025 05/01/2026 05/01/2027
Amegy Bank
320
3,672
02/01/2025 02/01/2026 02/01/2027
$32.50 $33.25 $34.00
-
-
-
2,507
7/1/2026 7/1/2028 7/1/2030 7/1/2031
$26.60 $27.60 $28.60 $29.00
-
-
-
Dynamic Arthritis Care
340
F I N A N C I A L A N A LY S I S
6
L E A SE PROVIS ION S
Tenant
STPN, Inc HCA Hosp
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
Suite
350
Base Rental Increases
SQ FT
Renewal Options
Date
PSF
Options
Date
PSF
3,584
9/1/2024 9/1/2025
$21.50 $22.00
-
-
-
$24.50 $25.00 $25.50 $26.00
-
-
-
Oncology Consultants
370
2,896
3/1/2024 3/1/2025 3/1/2026 3/1/2027
Cobb Fendley
400
11,105
11/1/2024 11/1/2025
$21.75 $22.25
-
-
-
Available
410
2,652
-
-
-
-
-
Retail Building - 1910 Texas State Optical
102
1,942
5/1/2026 5/1/2028 5/1/2030
$29.40 $30.60 $31.80
-
-
-
Dr. Watkins DDS
104
1,575
-
-
2x5
5/1/2026 5/1/2031
MKT Rate
Cardiac Wellness Clinic
106
1,410
6/1/2024
$25.80
-
-
-
$22.20 $22.80 $23.40 $24.00
-
-
-
$27.00
-
-
-
4x5
7/1/2026 7/1/2031 7/1/2036 7/1/2041
MKT Rate
Aphcan Diagnostics, LLC
108
1,225
8/1/2024 8/1/2025 8/1/2026 8/1/2027
Backstrong Chiropractic
110
965
6/14/2024
Amegy Bank
112
2,575
7/1/2024
$26.00
F I N A N C I A L A N A LY S I S
7
L E A SE PROVIS ION S
Tenant
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
Suite
Base Rental Increases
SQ FT Date
Renewal Options PSF
Options
Date
PSF
Retail Building - 1930 LA Crawfish
150
2,500
-
-
2x5
5/1/2026 5/1/2031
MKT Rate
Alliance MRI
154
3,500
6/1/2025 6/1/2027
$27.60 $28.80
-
-
-
Pending Tenant
156
2,520
-
-
-
-
-
Gear Monkey Bike Repair
158
1,200
12/1/2024
$22.80
-
-
-
Totals
F I N A N C I A L A N A LY S I S
8
TE NA NT INF ORMAT I ON
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
DBA
Texas Vein & Wellness Institute
Locations
6 Locations
Line of Business
Texas Vein & Wellness Institute is a healthcare clinic that specializes in diagnosing and treating vein and artery disease in Houston and the surrounding area. Board-certified general surgeon and vein specialist, Peter Morgan, MD, has over 26 years of surgical experience and founded Lone Star Vein Center in 2008 prior to its acquisition by Texas Vein & Wellness Institute in 2022. Dr. Morgan’s practice has been exclusively dedicated to the diagnosis and treatment of chronic venous insufficiency. Having performed well over 20,000 endovenous enclosures, Dr. Morgan is one of the most experienced vein surgeons in the country.
DBA
Airrosti
Locations
200+ Locations
Line of Business
Airrosti providers help diagnose and treat most common musculoskeletal and joint conditions, including pain in the neck, back, shoulders, hips, elbows, knees, and feet. Our treatment has shown to be effective at helping resolve everything from headaches to plantar fasciitis. We have shown to be effective at resolving chronic back pain as we are at resolving acute sports/athletic injuries like pulls and strains, as well as repetitive stress/ wear and tear injuries like tendonitis, frozen shoulder, and carpal tunnel syndrome. With over 200 convenient locations, in-clinic appointments can be in the following states: Ohio, Texas, Virginia, and Washington, and the District of Columbia (D.C.).
DBA
Texas Institute of Pain & Spine
Affiliated Centers
Memorial Herman Pearland Hospital & Memorial Hermann Southeast Hospital
Line of Business
Our pain management professional, Dr. J. Lance LaFleur, is an interventional pain physician who is board-certified in both anesthesiology and pain medicine by the American Board of Anesthesiology. He is also a musculoskeletal and regenerative medicine specialist, and he is certified. Dr. LaFleur completed a four-year MD/MBA program in health organization management at the Texas Tech University School of Medicine then moved to Houston, where he completed both his transitional internship and anesthesiology residency at the University of Texas Medical School.
PROPERTY DESCRIPTION
9
TE NA NT INF ORMAT I ON
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
DBA
Cordoba Law Firm, PLLC
Locations
2 Locations
Line of Business
At The Cordoba Law Firm, PLLC, our attorneys are experienced in numerous practice areas. Whether you want to start a business, sell or purchase real estate, draft a will, or need legal counsel in a civil lawsuit, our attorneys possess the expertise you need to obtain the best results possible. We have served Brazoria County, Texas and its surrounding areas, including Alvin, Angleton, Brazoria, Clute, Danbury, Freeport, Oyster Creek, Pearland, Sweeny, and West Columbia, with pride for more than ten years. Our attorneys handle cases of all shapes and sizes: At The Cordoba Law Firm, PLLC, our attorneys are glad to provide legal services that are specifically tailored to our clients’ needs. Whether you want to discuss business formation or a contract issue, a simple deed or Will or a litigation matter, we are able to guide you through the legal process.
DBA
Interim Healthcare
Locations
320+ Locations
Line of Business
Founded in 1966, Interim HealthCare Inc. is the nation’s most experienced healthcare franchise company. At the core of this longevity and success is a network of over 300 independently owned franchisees and their commitment to providing the most compassionate and professional care available in the communities they serve. With over 43,000 health care professionals across 42 states, Interim HealthCare provides nurses, therapists, aides and other health care personnel to approximately 173,000 people annually.
DBA
Oncology Consultants
Locations
16 Locations
Affiliated Centers
Memorial Hermann Pearland Hospital & Memorial Hermann Southeast Hospital
Line of Business
Oncology Consultants (OC) is an independent, family-led and physician-owned practice with clinics throughout South Texas. For over 40 years, we’ve been committed to delivering cutting-edge cancer treatment in a caring environment. Our approach is patient centered, which means that the needs of our patients always come first. Your well-being is our number one priority, and we ensure kind and compassionate care throughout your treatment.
PROPERTY DESCRIPTION
10
TE NA NT INF ORMAT I ON
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X DBA
CobbFendley & Associates
Locations
21 Locations
Line of Business
CobbFendley is licensed and registered to perform civil engineering and land surveying services throughout the States of Texas, Louisiana, Arkansas, Oklahoma, New Mexico, Utah, and Washington. With professional staff members who hold licenses in various states, our reach extends nationwide. CobbFendley has seen significant growth in recent years, with clients ranging from the New Mexico Department of Transportation to the Texas Facilities Commission. Ground-breaking projects for the firm include Grand Parkway, US 290 Program Management, North Tarrant Express Right-of-Way Recovery, IH-10 Corridor Utility Coordination and numerous IDIQ contracts for the Texas Department of Transportation.
DBA
Texas State Optical
Locations
126+ Locations
Line of Business
Texas State Optical was established in 1936 when the Rogers family opened the first TSO office in Beaumont, Texas. Our founders planned for TSO’s continuous growth and expansion of services, but not without first building a foundation of eye care and quality eyewear that result in loyalty and return visits by hundreds of thousands of patients over the years. When you need eye care, the first step is a comprehensive eye examination from a qualified doctor you trust. A well-trained and friendly optician associate will then help you select the eye wear that best fits the way you use your vision. With technology everchanging we use our vision, it is important that you have regular eye examinations
DBA
Amegy Bank
Locations
90 Locations
Line of Business
As part of Zions Bancorporation since 2005, Amegy Bank is strengthened by the stability and resources of one of the nation’s premier financial services companies, Zions Bancorporation. As Amegy has grown, our beginnings remind us that accessibility to your banker is important in times of both opportunity and challenge. We stay close to our clients and collaborate with them to help grow their business. We make a commitment not only to their banking needs, but also to helping guide them as they transition their business to the next generation. Through the “Community Bank Partnership,” Amegy bankers offer personalized solutions to clients by having a 360 degree view of their business and family financial needs.
PROPERTY DESCRIPTION
11
TE NA NT INF ORMAT I ON
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X DBA
LA Crawfish
Locations
20 Locations
Line of Business
We’re super proud to shout out that your local LA Crawfish serves up the absolute best boiled Crayfish! Garlic Butter and Cajun Style Crawdads are what we do best baby! We also cook delicious Shrimp and Crabs! Also, Chicken Wings, Seafood Po’Boys, Traditional and Fusion Pho Bowls, Fresh Oysters, Micheladas, Daiquiris and much more! We’re the very best you can find in Houston and San Antonio. LA Crawfish was recently published on Cooking Light (Time Magazine – The Cross-Cultural Mash-Up Award, 2013), Travel Channel, “Asian Chops” Television Series, and tons of other national publications and media outlets! Finally, stop in a LA Crawfish shop near you now and find out just what all your friends and family are raving about all of this time!
DBA
Alliance MRI
Locations
40+ Locations
Line of Business
In 2014, John Hamide,MD, an interventional radiologist, a native of New Orleans, Louisiana, and practicing diagnostic imaging on an outpatient basis, acquired his first imaging center, Baton Rouge Imaging. Capitol Imaging continued growing with the acquisition of over 16 additional imaging centers across Louisiana and Alabama from late 2015 through late 2020. To capitalize on the rapidly growing imaging corporation, Dr. Hamide entered a partnership with Clearview Capital LP which brought a strong funding capability and organizational structure into Capitol Imaging. Most of the management team is still here today and bring over 100 years of experience with them to help expand Capitol’s footprint throughout the Gulf South.
DBA
AiLife Diagnostics
Locations
90 Locations
Line of Business
AiLife Diagnostics, an employee owned company, was founded near the Texas Medical Center in Houston, Texas with the mission to provide fast and accurate interpretation services and mining of NGS data using the expertise and proprietary tools developed in house. Our scientific and technical teams are comprised of ABMGG certified geneticists, clinicians, PhD genome scientists, bioinformatics and IT experts. We have an extensive amount of experience in analyzing and reporting tens of thousands of clinical exome cases, targeted gene panel, microarray and more.
PROPERTY DESCRIPTION
12
I N VE S TMENT HI GHLI GHT S
•
88,434 SF of High-Quality Medical Office and Retail Outparcel Buildings in Pearland, TX
•
Medical Tenancy: Over 60% of the currently occupied office space is leased to medical tenants.
•
Medical Corridor: Three major hospitals are in a 1-mile radius including HCA Houston Healthcare, Memorial Hermann Hospital, and Kelsey-Seybold Clinic
•
Excellent Demographics: The average household income in a 3-mile radius stands at $1263,890. The population in a 5-mile radius exceeds 190,553 people.
•
Major Frontage and Visibility: Over 600 ft of frontage on SH 288 with direct access and visibility to over 107,353 vehicles per day. Additionally, The Property is highly visible to the intersection of Shadow Creek Pkwy/McHard Rd and SH 288, which adds over 29,650 vehicles per day.
•
Rare Access Point: The Property possesses an advantageous point of ingress/egress directly on SH 288. Many surrounding properties rely solely on back entrance points through Country Place Pkwy.
•
Shadow Creek Ranch Center (1.2 miles): H-E-B plus!, Hobby Lobby, Burlington, Academy Sports + Outdoors, Longhorn Steakhouse, McDonalds, etc.
•
Pearland Town Center (1.5 miles): DICK’S Sporting Goods, Macy’s, Dillard’s, Barnes & Noble, BJ’s Restaurant & Brewhouse, La Madeleine, etc.
•
Silverlake Village (1.5 miles): Target, Kohls, Total Wine, Ross, Marshalls, PetSmart, Ulta Beauty, Michaels, Five Below, Lane Bryant, DSW, etc.
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
PROPERTY DESCRIPTION
13
E PL A NTRINIT Y MEDI CAL OFFI CE BU I L DI N G 1 SS TI T F LOOR
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
PROPERTY DESCRIPTION
14
SIT E PL A NTRINIT Y MEDI CAL OFFI CE BU I L DI N G 2ND F LOOR
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
PROPERTY DESCRIPTION
15
SIT E PL A NTRINIT Y MEDI CAL OFFI CE B U I L DI N G 3 RD F LOOR
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
PROPERTY DESCRIPTION
16
SIT E PL A NTRINIT Y MEDI CAL OFFI CE BU I L DI N G 4TH F LOOR
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
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PROPERTY DESCRIPTION
17
Texas State Optical
Dr. Watkins DDS
Cardiac Wellness Clinic
Aphcon Diagnostics
Backstrong Chiropractic
Amegy Bank
LA Cra wfish
e MRI
Allianc
nt
nkey
g Tena
Pendin
Gear M o
S I T E PL A N TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
PROPERTY DESCRIPTION
18
A E R I AL MA P
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
SHADOW CREEK MARKETPLACE
NOLAN RYAN JUNIOR HIGH SCHOOL
28 8 SO UTH FW Y
SHADOW CREEK PKWY
VPD 29,650
SHADOW CREEK RANCH
BROADWAY ST
PEARLAND TOWN CENTER SHADOW CREEK HIGH SCHOOL
107,353 VPD
DR RONALD E MCNAIR JR HIGH SCHOOL
MCHARD RD
MARKET OVERVIEW
19
A E R I AL MA P
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
COUNTRY PLACE - 55+ RETIREMENT COMMUNITY (841 SINGLE-FAMILY HOMES)
CO
1
98 1,7
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YP
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W PK
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10 7,3 53 V
PD
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M A R K E T O V E R V I E W 20
LO C AL MA P
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
MARKET OVERVIEW
21
REG IONA L MA P
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
M A R K E T O V E R V I E W 22
M A R KET S U MMARY
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
Houston, TX
OVERVIEW Houston is the most populous city in Texas and the fourth-most populous city in the U.S., with an estimated 2020 population of 2,304,580. The seat of Harris County, Houston is the principal city of the Greater Houston metropolitan area, which is the fifth most populous MSA in the country (2021 population estimate of 7,206,841). Houston has one of the fastestgrowing and most diverse populations anywhere in the world. From 2010 to 2018, Houston added 1.1 million new residents, an 18.2 percent increase, the fastest rate of population growth among the 10 most populous U.S. Metros. The Houston region is made up of 12 unique counties, and the region’s geographic location makes it easy to move both goods and people around the globe. Houston's strategic, central location coupled with the infrastructure of four of the country's largest ports, two international airports and major highway and rail service make this a dynamic hub for a large cross-section of industries. As these industries digitize, Houston is a hotbed of rapid technological development thanks to access to customers and expertise. Houston’s economy has a broad industrial base in energy, manufacturing, aeronautics, and
transportation. Only New York City is home to more Fortune 500 companies. The city is also home of the Texas Medical Center, the world's largest concentration of health care and research institutions, and NASA's Johnson Space Center. The Port of Houston ranks first in the U.S. in international waterborne tonnage handled and second in total cargo tonnage handled. Houston is ranked third in the entire world in the Financial Times Cities of the Future global rankings. Houston secures the third spot for being “a reputable talent hub,” boasting five of the world’s Top 500 universities and placing second in the world in business expansion with 53 new projects between 2015 and 2020. Houston has many cultural institutions and exhibits which attract more than 7 million visitors a year to the Houston Museum District. The U.S. Bureau of Economic Analysis (BEA) estimates Houston’s gross domestic product (GDP) at $512.2 billion in 2019, ranking it as the nation’s seventh largest metro economy. The Houston region has a GDP greater than 37 states and accounts for 27.8 percent of Texas’ GDP. Once predominantly oil and gas focused, today Houston is a diverse, vibrant metro with a dynamic quality of life and a variety of growing industries.
Q U I C K S TAT S
1 3rd 4th 7th 24 st
Most-Populous City in the State of Texas Best Global Cities of the Future (Financial Times, 2020)
Most-Populous City in the United States
Largest Metro Economy in the United States
Fortune 500 Companies Call Houston Home (Fortune) M A R K E T O V E R V I E W 23
D E M OG RA PHIC STAT I ST I CS
TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X
3 Mile
5 Mile
10 Mile
Population
3 Mile
5 Mile
10 Mile
Households:
2010 Population
53,009
145,975
719,854
2010 Households
18,127
47,892
249,808
2023 Population
77,598
190,553
846,293
2023 Households
26,682
62,888
292,394
2028 Population Projection
81,182
196,843
863,659
2028 Household Projection
27,928
64,984
297,961
Annual Growth 2010-2023
3.60%
2.30%
1.40%
Annual Growth 2010-2023
4.10%
2.70%
1.60%
Annual Growth 2023-2028
0.90%
0.70%
0.40%
Annual Growth 2023-2028
0.90%
0.70%
0.40%
Median Age
36
35.1
35.4
Owner Occupied
22,382
49,259
189,338
Bachelor's Degree or Higher
50%
35%
32%
Renter Occupied
5,545
15,725
108,623
U.S. Armed Forces
131
214
460
Avg Household Size
2.9
3
2.8
Avg Household Vehicles
2
2
2
Total Consumer Spending
$1B
$2.2B
$9.3B
Population by Race White
33,271
88,163
434,868
Black
26,090
75,372
311,136
521
1,748
7,002
Avg Household Income
$123,890
$103,729
$92,754
15,693
21,267
76,477
Median Household Income
$102,348
$83,146
$67,658
Hawaiian & Pacific Islander
73
213
807
< $25,000
1,656
7,371
50,483
Two or More Races
1,949
3,789
16,004
$25,000 - 50,000
3,361
10,772
58,317
Hispanic Origin
17,210
61,242
297,958
$50,000 - 75,000
3,719
10,378
51,498
$75,000 - 100,000
4,303
8,970
35,333
American Indian/Alaskan Native Asian
Housing
Income
Median Home Value
$269,016
$219,040
$201,383
$100,000 - 125,000
3,215
7,062
29,673
Median Year Built
2006
2002
1986
$125,000 - 150,000
2,692
5,186
17,419
$150,000 - 200,000
4,339
7,446
23,243
$200,000+
3,397
5,703
26,427
Demographic data © CoStar 2023
M A R K E T O V E R V I E W 24
CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. STRIVE 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, PCBs or asbestos, the compliance with local, 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 offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.
Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.
Information About Brokerage Services Texas 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 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 th e 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 written agreement 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: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ 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. Please acknowledge receipt of this notice below and retain a copy for your records.
Regulated by the Texas Real Estate Commission
Information available at www.trec.texas.gov IABS 1-0
exclusively listed 469.844.8880
STRIVERE.COM