INVESTMENT MEMORANDUM HOUSTON, TX EXPECT THEUNEXPECTED
Investment Overview
G ENERAL O VERVIEW Executive Summary Prominently situated within the Northwest Inner Loop Industrial submarket, this premier location offers investors an exceptional opportunity to acquire two Class B industrial manufacturing and distribution buildings totaling over 650,000 square feet on approximately 18.8 acres within Loop 610. Both sites benefit from the recent completion of the Highway 290 and Loop 610 interchange and eventual completion of Highway 290 Hempstead corridor. The immediate area has seen significant residential redevelopment while also providing close-in industrial facilities. Cooling Building Goodman desires to sell and leaseback the properties, either together or separately, until an expected date of Q3 2019 for Engineering Lab and September 2017 for Cooling Building. As a result, investors are afforded a rare opportunity to create both short-term and long-term value. Founded in Houston, Texas in 1982, Goodman Global makes HVAC equipment and sells products under the Goodman, Amana, Quiteflex, and Daikin brands through approximately 900 distributors across North America. Japan s Daikin Industries acquired Goodman in 2012 for $3.7 billion and made Daikin Industries the largest HVAC manufacturer in the world with sales amounting to $10 billion. I NVESTMENT H IGHLIGHTS 18.8 acres and 650,000 SF of improvements within Loop 610 Engineering Lab Furnace Building Located within the transformation of Highway 290, Loop 610 and Hempstead Hwy corridors Significant recent redevelopment in the area Short-term income opportunity with Goodman Manufacturing, part of the Daikin Group, the world s largest HVAC manufacturer
Aerial Overview (the Properties ) W 18th St Cooling Building (1) Engineering Building (2) Address 1501 Seamist Houston, TX Address 1440 Greengrass Houston, TX Assessor s Parcel No. 0992210000010 Assessor s Parcel No. 0992220000002 Zoning None Zoning None Topography Level Topography Level Total Site Size 15.174 acres Total Site Size 3.634 acres Total Improvement Size 517,182 SF Total Improvement Size 138,581 SF Property Tax Rate $2.5706 Property Tax Rate $2.5706 Car Parks 656 Car Parks 141
Property Descriptions
Cooling Building 1501 Seamist Dr Building Specifications 837 Lot Size (AC) 15.174 (660,979 SF) Building Size (SF) 517,182 Manufacturing (SF) 476,755 Warehouse (SF) 90,480 Office (SF) 9,000 (lobby, 1 st floor, QA lab & engineering, receiving, maintenance, break rooms, & IT) Mezzanine (SF) 31,287 440 Number of Stories 2 (2 nd floor offices only) Car Parks 656 Truck Court Depth 90 Ceiling Clear Height Varies throughout facility (25 + in most areas) Column Spacing Nominal 33 Dock High Drive-In Cranes & Rating Elevators/Type A/C Space (SF) Power Sprinkler Type Thirty-two (32) overhead doors Two (2) west end on Seamist & center of Overmyer Seven (7) units at 5-10 tons One (1) freight only platform 9,000 (lobby, 1 st floor, QA lab & engineering, receiving, maintenance, break rooms, & IT) Three (3) 12,470 amps/480 volt/3-phase Control Mode Density Area
Engineering Lab 1440 Greengrass Dr Building Specifications 400 Lot Size (AC) 3.6336 (158,279 SF) Building Size (SF) 138,581 Manufacturing (SF) 79,846 Warehouse (SF) 32,143 Office (SF) 24,992 Mezzanine (SF) 1,600 270 Number of Stories 2 Car Parks 141 Truck Court Depth 90 Ceiling Clear Height Column Spacing Dock High Drive-In Cranes & Rating Elevators/Type A/C Space (SF) Power Sprinkler Type 1 st floor manufacturing & warehouse 20 2 nd floor warehouse 14 24 9 North South x 49 9 East West (extracted from AutoCAD drawing) Ten (10) overhead door locations plus ramp One (1) ramp 10 x 10 on west side Two (2) 10 ton One (1) Limited Use/Limited Application & one (1) freight only Approx. 60,000 (Engineering & Reliability Labs & Offices) One (1) 12,470 amps/480 volts/3-phase plus one (1) 600 amps/480 volts/3-phase Control Mode Density Area
Contact Information
Contact Information All bids and any questions regarding this investment opportunity should be directed to: Tom Graham Vice President Investment Services Jackson Cooksey 12770 Merit Drive Suite 760 Dallas, TX 75251 (972) 934-9757 tgraham@jacksoncooksey.com To schedule a personal tour of the properties please contact: James Toppins Associate Jackson Cooksey 3040 Post Oak Boulevard Suite 1150 Houston, TX 77056 (713) 499-4100 jtoppins@jacksoncooksey.com Andy Iversen Senior Vice President Jackson Cooksey 3040 Post Oak Boulevard Suite 1150 Houston, TX 77056 (713) 499-4100 aiversen@jacksoncooksey.com