SPRING STUEBNER RD
SPRING STUEBNER RD
SPRING STUEBNER RD
NORTHCREST DR
GOSLING RDGOSLING RDGOSLING RD
SAWMILL RANCHHome Prices up to $438K
Spring Klein ParkFrassati Catholic High School
Zwink Elementary School
S P R I N G
2,000 acresCapacity for 8M SF Commercial1M SF Retail • 35K Employees 3,500 Housing Units
3.2 MILESFROM THE PROPERTY
±66.07 ACRES±66.07 ACRES±66.07 ACRES
Grand Parkway Marketplace
±66.07 acres at Spring Stuebner and Northcrest Drive Spring, TX 77389
O F F E R I N G M E M O R A N D U M
Tim [email protected] 713-955-3127M 713-459-8123
David [email protected] 713-955-3126M 713-206-1574
Tom [email protected] 713-955-3125M 713-557-4455
Clark DaltonVice [email protected] 713-955-3122M 832-449-2223
Contacts, Due Diligence, & Offer Requirements
Dosch Marshall Real Estate713.955.3120
777 Post Oak Blvd Houston, TX 77056
www.dmreland.com
Exclusive RepresentationDosch Marshall Real Estate (DMRE) has been exclu-sively retained to represent the Seller in the disposition of ±66.07 acres at Spring Stuebner and Northcrest Drive, Spring, TX (Property). All inquiries about the Property should be directed to DMRE.
About DMREDosch Marshall exists to provide unmatched real estate brokerage services across the U.S. by connect-ing our expansive network, market knowledge, and expertise in land brokerage with innovative processes.
Founded in 2017, but in the Houston market for the past 15 years, our goal is to represent our clients with excellence. In real estate as in other industries experience is key: collectively, DMRE has 40 years of experience. Tim Dosch, David Marshall, and Tom Dosch have all been chosen in recent years for the Houston Heavy Hitters, an award that recognizes those who have traded the largest transactions in Houston for the year.
Dillon MillsSenior [email protected] 713-955-3123M 713-254-3824
Becky HandSenior [email protected] 713-955-3121M 918-629-5592
Tripp [email protected] 713-955-3124M 936-635-6968
Kenneth [email protected] 713-955-3120M 713-829-2615
2±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
NORTHCREST DR
NORTHCREST DR
NORTHCREST DR
GOSLING RDGOSLING RDGOSLING RD
SPRING STUEBNER RDSPRING STUEBNER RDSPRING STUEBNER RD
KLEIN OAK LN
KLEIN OAK LN
KLEIN OAK LN
NORTHCREST VILLAGEHome Prices up to $349K
GOSLING PINESHome Prices up to $257K
Grand Parkway Marketplace
Klein Oak High School
±66.07 ACRES±66.07 ACRES±66.07 ACRES
Property Aerial
THE PROPERTY
3±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
Property DetailsProperty Details
LOCATION Spring Stuebner & Northcrest Drive, Spring, TX 77389
LAT., LONG. 30.088817, -95.514114
TOTAL ACRES ±66.07 Acres
PARCEL NUMBER(S) 0410780000130 (Tract A), 0410780000586 (Tract B)
LEGAL TR 4T ABST 122 J BROCK (Tract A), TR 4R ABST 122 J BROCK (Tract B)
OWNER(S) ROTHWELL, CHARLOTTE A (Tract A & B)
DETENTION On-site detention required
UTILITIES Utilities potentially available through adjacent MUDs; call Broker for details
SCHOOL DISTRICT Klein Independent School District
PRICE TBD by market
2017 Tax Rates
17 KLEIN ISD 1.430000
40 HARRIS COUNTY 0.418010
41 HARRIS CO FLOOD CNTRL 0.028310
42 PORT OF HOUSTON AUTHY 0.012560
43 HARRIS CO HOSP DIST 0.171100
44 HARRIS CO EDUC DEPT 0.005195
45 LONE STAR COLLEGE SYS 0.107800
550 HC EMERG SRV DIST 7 0.096060
666 HC EMERG SERV DIST 11 0.039040
Total 2.308075
2017 Demographics
0-1 mile 0-3 miles 0-5 miles
EST. POPULATION 7,718 64,214 196,696
5-YR EST. POPULATION GROWTH 4.64% 5.68% 7.18%
AVERAGE HOUSEHOLD INCOME $110,243 $106,623 $109,920
MEDIAN VALUE OF OWNER OCCUPIED HOUSING UNITS $177,640 $170,796 $187,150
Property Details• Frontage on two roads: Spring Stuebner and Northcrest Drive• Excellent visibility from and access to the Grand Parkway (US-99)• 3.2 miles west of Springwoods Village and 6 miles southwest of The Woodlands
Town Center• Adjacent to a new, Target-anchored retail development, Grand Parkway Marketplace
Surrounding single family home values as high as $1.39 Million• Fox Hollow West: home prices up to $1.39M• Middlebrooks Place: home prices up to $759K• Windrose: home prices up to $675K• Northcrest Village: home prices up to $349K
Zoned to Klein ISD• 6,966 full-time staff and over 50,000 students • Covers 87.5 square miles of north Harris county• 1 Pre-K & Early Childhood Center, 32 Elementary Schools (K-5), 9 Intermediate
Schools (6-8), 5 High Schools (9-12), 1 Vistas High School Program, and 1 Alternative School Program
Making an OfferOffer InformationOffers should be presented in the form of a non-binding Letter of Intent, and should include:
• Pricing• Due Diligence and Closing Timeframe• Earnest Money Deposit• Description of Debt/Equity Structure• Qualifications to Close• Development Plans
Due Diligence InformationTo access the due diligence information please visit the Property website at: www. dmreland.com/listings/#1390
THE PROPERTY
4±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
Property Survey
5±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
Property Survey
THE PROPERTY
6±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
SPRING STUEBNER RDSPRING STUEBNER RDSPRING STUEBNER RD
NORTHCREST DR
GOSLING RDGOSLING RDGOSLING RD
The Woodlands Town Center
MIDDLEBROOKS PLACEHome Prices up to $759K
FOX HOLLOW WESTHome Prices up to $1.39M
T H E W O O D L A N D S
±66.07 ACRES±66.07 ACRES±66.07 ACRES
7±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
SPRING STUEBNER RDSPRING STUEBNER RDSPRING STUEBNER RD
NORTHCREST DR
NORTHCREST DR
NORTHCREST DR
HILD
EBRA
NDT
RD
HILD
EBRA
NDT
RD
HILD
EBRA
NDT
RD
KUYKENDAHL RD
KUYKENDAHL RD
KUYKENDAHL RD
GOSLING RDGOSLING RDGOSLING RD
The Abbey atSpring Town Center
NORTHCREST VILLAGEHome Prices up to $349K
PINELAKESHome Prices up to $365K WINDROSE
Home Prices up to $675K
KLEINHome Prices up to $1.1M
Grand Parkway Marketplace II
+ Future Development: 10 padsGrand Parkway Marketplace
Klein Oak High School
Hildebrandt Intermediate School
±66.07 ACRES±66.07 ACRES±66.07 ACRES
8±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
The Woodlands Town Center One of the most active commercial building markets throughout Houston
• 1,000-acre “downtown” of The Wood-lands contains over 6.9 million square feet of office space
• Home of Anadarko’s two iconic towers: 807,586-square-foot Allison Tower and 550,000-square-foot Hackett Tower
• Other major employers include Aon-Hewitt, Baker Hughes, Huntsman Company, Chevron Phillips Chemical Company, US Oncology and Entergy
Hughes Landing• Class A Office: One Hughes Landing,
Two Hughes Landing, Three Hughes Landing, 1725 Hughes Landing Blvd., 1735 Hughes Landing Blvd.
• Hospitality: Embassy Suites by Hilton with 205-suites, 24-hour fitness center and rooftop infinity pool
• Multifamily: One Lakes Edge luxury residences with 390 units
Memorial Hermann The Woodlands • 294-private bed, full-service, acute care
facility• Employs over 780 medical staff
physicians, 1,300 employees, and 250 volunteers
• Features a diabetes self-management program, a certified primary stroke cen-ter, sports medicine, rehabilitation and physical therapy, occupational therapy, speech therapy, registered dietitians and an emergency center accredited as a Level III trauma center by the State
Top Employers in The Woodlands
Anadarko 3867
Memorial Hermann The Woodlands 2001
ExxonMobil 1900
Aon Hewitt 1800
CHI St Luke's Health - The Woodlands 1510
CB&I 1008
Huntsman Corporation 894
Woodforest National Bank 817
Repsol USA 710
Chevron Phillips Chemical Company 678
Cynthia Woods Mitchell Pavilion 625
McKesson Specialty Health 616
Baker Hughes 550
Entergy 471
NEW DEVELOPMENTSThree Hughes Landing: 12-story, 321,000-squarefoot Class A office build-ing with an on-site conference room and
fitness center; currently 30% leased
1725 Hughes Landing: 13-story, 332,000-squarefoot Class A office building with an on-site conference room (seats up to 100) and fitness center
Houston Methodist - The Woodlands Hospital: Now open - a full-service, acute hospital featuring women’s ser-vices, breast cancer center, childbirth center, and neurology and neurosur-gery
HUGHES LANDING
THE WOODLANDS TOWN CENTER
MEMORIAL HERMANN THE WOODLANDS
CHI St Luke’s Health - The Woodlands Hospital
• 62-acre campus• 242-private-bed, nonprofit hospital • Offers a full range of family healthcare,
from pediatrics to geriatrics, from emer-gency services to birthing center, and from diagnostics to surgery
Texas Children’s Hospital - The Wood-lands
• 548,000 square feet on 22 acres• 24 emergency center rooms, 74 outpa-
tient rooms, five radiology rooms, four operating rooms and initially 30 acute care beds, which could expand to up to 200 beds
The Woodlands
AREA HIGHLIGHTS
9±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
CHI St. Luke’s Health • Phase I opened in January 2016: 55,000-square-foot
ambulatory medical center; 4 inpatient beds, 10 emer-gency room beds, four operating suites, two endoscopy suites, full diagnostic imaging capabilities and 100,000 square feet of medical office space; the hospital will have 250 beds at build out
• Initial investment for the project was $120 million; St. Luke’s has committed up to $70 million over the next five years
ExxonMobil Corporate Campus • 385-acre campus completed in 2015• Relocated 10,000 employees to the area• 3 million square feet
Southwestern Energy • Headquarters completed in 2014 • 515,000 square feet• Approx.1,500 employees (expected to grow to 3,000)
HP CORPORATE CAMPUS
EXXONMOBIL CAMPUS
ABS GLOBAL HQ3.2 miles from the Property
Springwoods Village is a 2,000 acre master planned community situated just south of The Woodlands and 20 miles north of downtown Houston. The community is a new model of sustainability and greener living for the Houston region, preserving its natural ecosystems, build-ing energy-smart new homes, and reducing dependence on the car by providing a walkable mix of retail, dining, offices, and public amenities.
Springwoods Village will build out its master plan over the next 10+ years. At buildout, Springwoods Village will achieve:
• 8 million square feet of commercial space• 1 million square feet of retail space• 35,000 employees• 3,500 housing units
American Bureau of Shipping (ABS) • Will be located in the 10-story, 326,800-SF CityPlace
2 mixed-use project• With 1,200 employees, ABS will occupy all of the
office space in the building on a long-term basis for its headquarters operations
HP Corporate Campus • 378,000 square feet in two buildings and approxi-
mately 2,400 employees• Began construction in early 2017; completion
expected by third quarter 2018
CityPlace • CityPlace 2, at 10-stories and 327,000 SF, will be
the new home to American Bureau of Shipping; includes 25,000 SF of ground floor retail and is scheduled for completion in October 2018
• CityPlace 1, a new 149,600-square-foot office build-ing, is currently in the planning stages
NEW: Marriott CityPlace• Broke ground March 2017• 10-story, 337-room hotel will be the first full-service
hotel in CityPlace when it opens in November 2018
Springwoods Village
AREA HIGHLIGHTS
10±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
Retail & Entertainment Highlights
The Woodlands Mall
• 1.3 million square feet of shopping and dining• More than 160 stores including Aldo, Anthropologie, Apple,
Athleta, Banana Republic, Bath & Body Works, Buckle, Brookstone, Clarks, Coach, Express, Finish Line, Gap, GNC, Kiehl’s, Loft, Microsoft, Oakley, Sephora, Urban Outfitters, Victoria’s Secret, and more
• Restaurants include Fleming’s, The Cheesecake Factory, and P. F. Chang’s
Hughes Landing 66-acre mixed-use development on Lake Woodlands
• Retailers include: 18ǀ8 Fine Men’s Salon, Beauty Statement, Blo Blow Dry Bar, Cadence Bank, Fleet Feet Sports, Focus Optical, Fred Astaire Dance Studio, ivivva, KB Kasuals, Kriser’s Natural Pet, Norton Ditto, Pure Barre, RIDE Indoor Cycling, Venetian Nail Spa, vom FASS Oils Vinegars Spirits, Willa Boutique and Woodlands Laser
• Restaurants include: The Blue Fish, Broken Barrel, Califor-nia Pizza Kitchen, CUPS Frozen Yogurt, Del Frisco’s Grille, Escalante’s Fine Tex-Mex, Fogo de Chão, Local Pour, Maca-ron by Patisse, Starbucks, Truluck’s Seafood, Steak & Crab House, and Whole Foods Market
• Amenities: Lakes Edge water sport rentals, boardwalk, band/entertainment area, dog park, connection to hike and bike trails, Overlook Park and Wetlands Park
Market Street • Over 70 high end retail shops including Tiffany & Co.,
Brooks Brothers, and Michael Kors• 17 dining establishments including 1252 Tapas Bar, La
Madeleine, and Uni Sushi• Hyatt Centric (70 keys)• Market Street Cinemark movie theater • WiFi-enabled central park
Cynthia Woods Mitchell Pavilion• Outdoor amphitheater seats 6,500 with capacity
for an additional 10,000 on the lawn• Presents between 50 and 65 events every March
through December• Summer Home of the Houston Symphony, the
Home Away from Home of the Houston Ballet, and a presenting venue for the Houston Grand Opera and Texas Music Festival Orchestra
HUGHES LANDING
MARKET STREET
THE WOODLANDS MALL
AREA HIGHLIGHTS
11±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
Houston’s economic downturn is overHouston’s economic downturn is over and recovery has begun. Recovery signals include the West Texas Intermediate, the U.S. benchmark for light, sweet crude, now trading near $50 per barrel; the strong increase in the number of drilling rigs working in the U.S.; the cresting of the Houston Purchasing Managers Index over 50 in October 2016; and strong job growth in the 12 months ending October ‘16. These signals are underscored by a growing consensus that the global oil market is moving back into equilibrium for supply and demand, and that the price can be soon restored to the $65 per barrel range. Houston weathered the downturn better than many expected: the region never had a 12-month period in which employ-ment growth dipped below zero and the unemployment rate never rose above 5.8 percent.
The Houston economy benefited from a strong U.S. economy and the strength of its petrochemical and refining industries (which in turn benefited from the low prices of oil and natural gas). According Patrick Jankowski, senior Vice President of Research at the Greater Houston Partner-ship, Houston’s role as an energy capital of the world hasn’t changed: ”If you’re in the energy business, you either have to have a presence in Houston or you have to visit Houston on a regular basis.”
Offsetting oil losses, and keeping Hous-ton’s job growth positive, has been strong growth in service sector jobs. Growth in food service, healthcare, retail trade, and public education have led the metropolitan area’s job growth since late 2014.
The Houston area created 13,400 jobs in the 12 months ending October ’16, and the Greater Houston Partnership is projecting Houston will add 29,700 net jobs across all sectors in 2017, demonstrating confidence from local experts.
Worldwide leader in healthcareThe healthcare industry makes up 13% of the Houston MSA’s work-force and grew 2.9 percent between January ’16 and January ’17. Throughout the nation, hospitals, clinics and medical offices are expanding as they try to keep up with a population boom of nearly 10 percent since 2010. As a result, healthcare occupations and industries are expected to have the fastest employment growth and to add the most jobs between 2014 and 2024, the U.S. Bureau of Labor Statistics reports. In fact, between December ’14 to Octo-ber ’16, a period when mining and logging lost nearly 25,000 jobs due to the energy downturn, health care created nearly 23,000 new jobs. The Greater Houston Partnership expects Houston to add 9,800 healthcare jobs in ’17.
World’s Largest Medical ComplexHouston’s Texas Medical Center, dubbed a “Medical Mini-City” by Forbes, is the world’s largest medical complex, the 8th largest busi-ness district in the US, employs over 106,000 people and has an estimated regional annual economic impact of $20 billion. Much like the petrochemical boom occurring on Houston’s east side, institutions within the TMC have $3 billion in construction projects underway.
Healthcare expands to the suburbs World-class healthcare is no longer confined to the Texas Medical Center campus. As Houston’s growing population expands to the suburbs, so does its healthcare. New health center openings and expansions totaling over 5 million square feet in the TMC and the Greater Houston area over the next four years include:
• Memorial Hermann will open or expand hospitals in the TMC, Katy, Sugar Land, Pearland, Cypress and northeast Houston
• Texas Children’s will open or expand hospitals in the TMC, The Woodlands and West Houston
• Houston Methodist will open hospitals in West Houston, Sugar Land and The Woodlands
• The University of Texas Medical Branch will open a hospital in League City
• Baylor/CHI will open a hospital in the TMCThis unprecedented growth ensures that the medical sector will remain one of the major pillars of Houston’s economy for the foreseeable future.
Over 160,000 teachers, assistants, and librariansRanked as the nation’s seventh largest district, Houston Indepen-dent School District (HISD) covers 312 square miles with 288 schools, 13,000 teachers and more than 210,000 students. The US
Bureau of Labor Statistics estimates there are 160,000 teachers, teaching assistants and librarians in the Houston MSA. Houston is also home to multiple higher education institutions which attract students from all over the world:
• The University of Houston, a Tier One Research University, was chosen as one of the nation’s best colleges for undergraduate education by The Princeton Review in 2011.
• Rice University, a Tier One Research University, was ranked as a top institution in the country by The Princeton Review, Newsweek College Guide, Kiplinger’s Personal Finance, Worth magazine, Financial Times, U.S. News and World Report and the Almanac of Architecture and Design. Rice University ranked first among “30 Best Values in Small Colleges” according to Kiplinger’s Personal Finance Magazine (2014).
• The University of St. Thomas was recognized by U.S. News & World Report, The Cardinal Newman Society and The Princeton Review Guide.
• Baylor College of Medicine was ranked as one of the top 25 medical schools for research in 2011 by U.S. News & World Report.
• Lone Star College System is one of the fastest-growing com-munity colleges in the nation.
• Texas A&M University Health Science Center (TAMHSC) is the most comprehensive health science center in Texas. The TAM-HSC School of Public Health is ranked in the Top 25 “Best Grad Schools for Public Health” by U.S. News & World Report.
Strong retail growthRetail accounts for 10.3 percent of all jobs in the Houston region – only healthcare and government employ larger shares of the workforce. Houston ranks fourth nationally in retail construction activity. As of Q4 2016, occupancy was at 94%. Additionally, two million square feet of retail space is under construction, much of it for delivery next year. Houston should see the addition of add 4,500 jobs in this sector by year’s end.
• Travel + Leisure ranked Houston No. 2 among “Friendliest Cities in America” and No. 10 of “America’s Best Music Scenes”.
• U.S. News & World Report ranked Houston seventh “Best Foodie Destination in the USA.”
• National Geographic ranked Houston No. 8 “Top Nightlife Cities in the World”
• Houston was the only U.S. destination on Boston Globe’s six “Places to Visit in 2015”
Houston Market Overview
AREA HIGHLIGHTS
1±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
One of the friendliest cities in AmericaHouston’s performing arts, nightlife, culinary scene, and sports attractions drew 17.5 mil-lion visitors in ’15, up from 14.5 million in ’14. Houston First Corporation and the Greater Houston Convention & Visitors Bureau plan to increase annual visitors to 20 million in ’18 through a combination of marketing, tourism summits, industry outreach and infrastruc-ture improvements, including more than two dozen planned hotel openings in 2017.
While over 2.2 million annual visitors come for the Houston Livestock Show and Rodeo, the world’s largest livestock show and rodeo, many others come for its arts and culture. Houston has more than 500 cultural, visual and performing arts organizations, 90 of which are devoted to multicultural and minority arts. These organizations are some of the best in the country: The Children’s Museum of Houston is the highest attended youth museum in the country for its size and rated number one in the country by Parents magazine; the Houston Zoo welcomed over 2.55 million visitors in 2016, making it the number one most-visited zoo in the country; and Houston’s Museum of Fine Arts is the largest art museum in the Southwest United States.
For those who prefer live action to museums, Houston has a Theater District second only to New York City in its concentration of seats in one geographic area. Located downtown, the 17-block Theater District is home to eight performing arts organizations with more than 12,000 seats. The Houston Ballet was lauded by The New York Times as “...one of the nation’s best ballet companies” and the Houston Grand Opera is the only opera company in the world with Grammy, Tony and Emmy awards. With so much to offer visitors from all over the world, it’s no surprise that the Greater Houston Partnership predicts the addition of 8,700 employees to this sector in 2017.
New developments in air travelThe Houston Airport System contributed more than $27.5 billion to the local economy and is directly responsible for over 230,000 jobs in the Houston area. Air travel was not immune to the economic downturn, but the opening of an international concourse and return of international service to Latin American and the Caribbean in October 2015 at Houston Hobby helped offset a drop in domestic traffic system wide. Additionally, United Airlines is currently constructing a new Terminal C North facility slated to open in early ’17. In fact, the Greater Houston Partnership predicts a continuing recovery in this sector with the addition of 2,100 jobs.
Greater Houston Area Population by County
County 2015 Pop. 2016 Pop. Pop. % of Houston Growth Growth %
Austin 29,548 29,758 0.44% 210 0.7
Brazoria 345,661 354,195 5.23% 8,534 2.5
Chambers 38,768 39,899 0.59% 1,131 2.9
Fort Bend 713,849 741,237 10.94% 27,388 3.8
Galveston 321,538 329,431 4.86% 7,893 2.5
Harris 4,533,341 4,589,928 67.77% 56,587 1.2
Liberty 79,696 81,704 1.21% 2,008 2.5
Montgomery 536,434 556,203 8.21% 19,769 3.7
Waller 48,630 50,115 0.74% 1,485 3.1
Totals 6,647,465 6,772,470 - 125,005 1.90%
POPULATION | Over the past 35 years, Houston has added 3.4 million residents, 1.5 mil-lion jobs and real personal income has grown at a 6.1 percent annual rate.
INTERNATIONAL CITY | Houston’s business cost is 2.0% below the U.S. average, drawing foreign trade, investment, and business to the region. International trade directly or indirectly supports more than one-third of all jobs in the Houston metropolitan area, and 5,000 companies in Houston are doing business overseas. Based on trade, foreign investment, global connections and domination in certain aspects of the global economy, Houston is in the same category as New York, Tokyo, or other cities. Additionally, Houston exports ~$97B per year - for comparison, the State of Texas’ annual budget is $109B.
Ninety-two foreign governments have official representation in Houston, ranking the city’s consular corps third in the nation. Houston hosts 21 foreign banks, representing 9 nations; more than 752 foreign-owned firms; and more than 437 companies with branches in 144 other nations. The TMC sees an annual average of 16,000 international patient visits.
CONSTRUCTION | The Greater Houston Partnership predicts construction in the areas of industrial, single family housing, medical, institutional, and commercial. In the November ‘16 election, Houston area voters approved $638 million in local construction bonds on top of the $10.6 billion approved since May ’14.
EAST HOUSTON | Some $50 billion worth of refinery, petrochemical and LNG plants are underway, providing thousands of construction jobs, but that activity will peak over the next two years. In 2017, nearly $23 billion in such projects are scheduled to be completed. Increased need for routine maintenance and turnaround projects on the operational plants will soften the employment decrease as construction winds down.
PORT OF HOUSTON | 1st ranked US port in foreign tonnage (2015); 2nd ranked US port in total foreign cargo value (2015); Largest Gulf Coast container port, handling 68% of US Gulf Coast container traffic (2015); The Port Commission approved $88 million in capital expenditures tied to channel improvements and new terminals
SPACE CITY | Houston is home to Johnson Space Center, a $1.5 billion complex housing one of NASA’s largest R&D facilities, mission control, and the training base for US astro-nauts, as well as 150 companies involved in aircraft or space vehicle manufacturing, space research and technology.
HOUSING | Single family housing inventory remains tight with a 3.8-month supply, and 2016 saw a 3.0% increase in single-family homes sold from 2015. For the past two years, the 12-month total property sales tracked by the Houston Association of Realtors has remained steady between 89,000 and 91,500.
Houston Market Overview
AREA HIGHLIGHTS
2±66.07 ACRES AT SPRING STUEBNER & NORTHCREST
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r an
y m
ater
ial i
nfor
mat
ion
know
n to
the
agen
t.
IF T
HE
BR
OK
ER R
EPR
ESEN
TS T
HE
BU
YER
:Th
e br
oker
bec
omes
the
buy
er’s a
gent
by
ente
ring
into
an
agre
emen
t to
rep
rese
nt t
he b
uyer
, us
ually
th
roug
h a
writ
ten
buye
r re
pres
enta
tion
agre
emen
t. A
buye
r’s ag
ent
can
assist
th
e ow
ner
but
does
no
t re
pres
ent
the
owne
r an
d m
ust
plac
e th
e in
tere
sts
of
the
buye
r fir
st.
The
owne
r sh
ould
not
tel
l a
buye
r’s
agen
t an
ythi
ng t
he o
wne
r w
ould
not
wan
t th
e bu
yer
to k
now
bec
ause
a b
uyer
’s a
gent
mus
t di
sclo
se t
o th
e bu
yer an
y m
ater
ial i
nfor
mat
ion
know
n to
the
agen
t.
IF T
HE
BR
OK
ER A
CTS
AS
AN
IN
TER
MED
IAR
Y:A
brok
er m
ay a
ct a
s an
int
erm
edia
ry b
etw
een
the
part
ies
if th
e br
oker
com
plie
s w
ith T
he T
exas
Rea
l Es
tate
Licen
se A
ct. T
he b
roke
r m
ust o
btai
n th
e w
ritte
n co
nsen
t of
eac
h pa
rty
to t
he t
rans
actio
n to
act
as
an
Ap
pro
ved
by
the
Texa
s R
eal E
stat
e C
omm
issi
on f
or V
olu
nta
ry U
se
Texa
s la
w r
equi
res
all r
eal e
stat
e lic
ense
es t
o gi
ve t
he fol
low
ing
info
rmat
ion
abou
t br
oker
age
serv
ices
to
pros
pect
ive
buye
rs,
tena
nts,
sel
lers
and
land
lord
s.
Info
rmat
ion
Abo
ut B
roke
rage
Ser
vice
s
Rea
l est
ate
licen
see
asks
tha
t yo
u ac
know
ledg
e re
ceip
t of
thi
s in
form
atio
n ab
out
brok
erag
e se
rvic
es f
or t
he li
cens
ee’s
rec
ords
.
inte
rmed
iary
. The
writ
ten
cons
ent m
ust st
ate
who
will
pay
the
brok
er a
nd, i
n co
nspi
cuou
s bo
ld o
r un
derli
ned
prin
t, se
t fo
rth
the
brok
er’s
oblig
atio
ns
as
an
inte
rmed
iary
. Th
e br
oker
is
requ
ired
to t
reat
eac
h pa
rty
hone
stly
and
fai
rly a
nd t
o co
mpl
y w
ith T
he
Texa
s Re
al E
stat
e Li
cens
e Ac
t.
A br
oker
who
act
s as
an
inte
rmed
iary
in a
tran
sact
ion:
(1)
shal
l tre
at a
ll pa
rtie
s ho
nest
ly;
(2)
may
not
disclos
e th
at t
he o
wne
r w
ill a
ccep
t a
price
less
tha
t th
e as
king
pric
e un
less
aut
horiz
ed i
n w
ritin
g to
do
so b
y th
e ow
ner;
(3)
may
not
disclos
e th
at t
he b
uyer
will p
ay a
pr
ice g
reat
er t
han
the
price
sub
mitt
ed in
a w
ritte
n of
fer
unle
ss a
utho
rized
in w
ritin
g to
do
so b
y th
e bu
yer;
and
(4)
may
not
disc
lose
any
con
fiden
tial i
nfor
mat
ion
or
any
info
rmat
ion
that
a p
arty
spe
cifica
lly i
nstru
cts
the
brok
er i
n w
ritin
g no
t to
disc
lose
unl
ess
auth
orize
d in
w
ritin
g to
disc
lose
the
info
rmat
ion
or re
quire
d to
do
so b
y
The
Texa
s Re
al E
stat
e Lice
nse
Act
or a
cou
rt or
der
or if
th
e in
form
atio
n m
ater
ially
rel
ates
to
the
cond
ition
of t
he
prop
erty
.
With
th
e pa
rtie
s’
cons
ent,
a br
oker
ac
ting
as
an
inte
rmed
iary
bet
wee
n th
e pa
rtie
s m
ay a
ppoi
nt a
per
son
who
is
licen
sed
unde
r Th
e Te
xas
Real
Est
ate
Lice
nse
Act
and
asso
ciat
ed w
ith t
he b
roke
r to
com
mun
icat
e w
ith
and
carr
y ou
t in
stru
ctio
ns
of
one
part
y an
d an
othe
r pe
rson
who
is
licen
sed
unde
r th
at A
ct a
nd
asso
ciat
ed w
ith t
he b
roke
r to
com
mun
icat
e w
ith a
nd
carr
y ou
t ins
truc
tions
of t
he o
ther
par
ty.
If y
ou c
hoos
e to
hav
e a
brok
er r
epre
sent
you
, yo
u sh
ould
ent
er i
nto
a w
ritte
n ag
reem
ent
with
the
br
oker
tha
t clea
rly e
stab
lishe
s th
e br
oker
’s o
blig
atio
ns
and
your
obl
igat
ions
. T
he
agre
emen
t sh
ould
sta
te
how
and
by
who
m t
he b
roke
r w
ill b
e p
aid.
You
hav
e th
e rig
ht t
o ch
oose
the
typ
e of
rep
rese
ntat
ion,
if a
ny,
you
wish
to rec
eive
. You
r pa
ymen
t of a
fee
to a
bro
ker
does
no
t ne
cess
arily
es
tabl
ish
that
th
e br
oker
re
pres
ents
you
. If y
ou h
ave
any
ques
tions
reg
ardi
ng
the
dutie
s an
d re
spon
sibi
litie
s of
th
e br
oker
, yo
u sh
ould
res
olve
thos
e qu
estio
ns b
efor
e pr
ocee
ding
.
Buy
er,
Sel
ler,
Lan
dlor
d or
Ten
ant
D
ate
Texa
s Re
al E
stat
e Br
oker
s an
d Sa
lesp
erso
ns a
re li
cens
ed a
nd r
egul
ated
by
the
Texa
s Re
al E
stat
e Co
mm
issi
on (
TREC
). I
f you
hav
e a
ques
tion
or c
ompl
aint
re
gard
ing
a re
al e
stat
e lic
ense
e, y
ou s
houl
d co
ntac
t TRE
C at
P.O
. Box
121
88, A
ustin
, Tex
as 7
8711
-218
8 ,
512-
936-
3000
(ht
tp:/
/ww
w.t
rec.
texa
s.go
v)
T
REC
No.
OP-
K
777 POST OAK BLVDHOUSTON, TEXAS 77056
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