David H. Luther Executive Vice President Investment Sales Jeff Hayes Managing Partner Land & Tenant Advisory Services Morgan Hansen Senior Associate Investment Sales Kelley Workman Vice President Investment Sales OFFERING MEMORANDUM SEISMIC EXCHANGE CAMPUS 11050 CAPITAL PARK DRIVE | HOUSTON, TX 77041 4805 WESTWAY PARK BOULEVARD | HOUSTON, TX 77041
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David H. LutherExecutive Vice President Investment Sales
Jeff HayesManaging PartnerLand & Tenant Advisory Services
Morgan Hansen Senior AssociateInvestment Sales
Kelley WorkmanVice PresidentInvestment Sales
OFFERING MEMORANDUMSEISMIC EXCHANGE CAMPUS11050 CAPITAL PARK DRIVE | HOUSTON, TX 77041
THE TEXAS REAL ESTATE COMMISSION (TREC) REGULATES REAL ESTATE BROKERS AND SALES AGENTS, REAL ESTATE INSPECTORS,HOME WARRANTY COMPANIES, EASEMENT AND RIGHT-OF-WAY AGENTS AND TIMESHARE INTEREST PROVIDERS. YOU CAN FIND MORE INFORMATION AND CHECK THE STATUS OF A LICENSE HOLDER AT WWW.TREC.TEXAS.GOV. YOU CAN SEND A COMPLAINT AGAINST A LICENSE HOLDER TO TREC. A COMPLAINT FORM IS AVAILABLE ON THE TREC WEBSITE. TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY A CIVIL COURT JUDGMENT AGAINST A BROKER, SALES AGENT, REAL ESTATE INSPECTOR, OR EASEMENT OR RIGHT-OF-WAY AGENT, IF CERTAIN REQUIREMENTS ARE MET. IF YOU HAVE QUESTIONS OR ISSUES ABOUT THE ACTIVITIES OF A LICENSE HOLDER, THE COMPLAINT PROCESS OR THE RECOVERY FUNDS, PLEASE VISIT THE WEBSITE OR CONTACT TREC AT:
TEXAS REAL ESTATE COMMISSIONP.O. BOX 12188 AUSTIN, TEXAS 78711-2188 512.936.3000
NON-ENDORSEMENT NOTICE
NewQuest Properties 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 NewQuest Properties, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of NewQuest Properties, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR NEWQUEST PROPERTIES AGENT FOR MORE DETAILS.
NON-ENDORSEMENT AND DISCLAIMER NOTICE
WHAT MAKES NQ DIFFERENT
LEASING
TENANT REPRESENTATION
PROPERTY MANAGEMENT
DEVELOPMENT
LAND BROKERAGE
ACQUISITION
1031 EXCHANGE
INVESTMENT SALES
Full-Service Brokerage Platform | Expose Your Property to an Expanded Universe of Agents, Investors and Developers
20+ Years Expertise in Facilitating 1031 Exchanges
#1 Texas Leader in Grocery-Anchored Shopping Centers
$2.2 Billion Portfolio | Retail and Mixed-Use
75+ Tenant Representation Accounts
12 Million SF | Leasing Services in Texas and Louisiana
175 Pads and 300 Acres of Available Commercial Land
Extensive Land Brokerage Division
Full-Service Property Management Department
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NEWQUESTNATIONAL NETWORK
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STONE HILL TOWN CENTER | PFLUGERVILLE, TX• Top 5 largest shopping center in Austin area
• 1M SF of retail space
• National retailers include Cinemark, Target, The Home Depot, Dick’s
Sporting Goods, Petco
CREEKSIDE TOWN CENTER | NEW BRAUNFELS, TX• Over 1M SF of retail with a 120 bed medical center, a multi-family development
and an entertainment complex
• Positioned at the epicenter of the Austin/San Antonio corridor
• National retailers include Target, Dick’s Sporting Goods, Petco, Best Buy
BRAZOS TOWN CENTER | ROSENBERG, TX• 2M SF of retail, dining, hotel, and entertainment
• Ranked 30th among the top 50 largest shopping malls in the nation
• National retailers include Target, Kroger, Petco, Best Buy, Cinemark, Kohls
CAMP FORBING TOWN CENTER | SHREVEPORT, LA• 2018 Shreveport Green Mission Award winner for enhanced property and
outstanding maintenance
• Anchored by the largest Kroger Marketplace in Shreveport
• 44K SF YMCA family fitness facility in design and planning stage
FRISCO RANCH | FRISCO, TX• 100K SF new Asian themed development located in the heart of Frisco’s retail hub
• Frisco ranked #1 place to live in America by Money Magazine in 2018
• Anchored by 99 Ranch Market, Daiso, 85°C Bakery
STABLESIDE AT FALCON LANDING | KATY, TX• Over 282K SF neighborhood lifestyle center
• Customer base of young families with high, discretionary income
• Anchored by Kroger, VillaSport Athletic Club and Spa, Main Squeeze, Hollywood Feed
NORTH TARRANT MARKETPLACE | NORTH RICHLAND HILLS, TX• 230K SF of retail and dining space
• Surrounded by major retail corridor
• Anchored by Kroger Marketplace, LA Fitness, Chick-fil-A
access to our extensive relationships with major real
estate investors including pension funds and their
advisors, REIT, domestic and foreign entities, wealthy
private investors, investment funds and developers.
MEET THE TEAM
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PORTFOLIO: 11050 CAPITAL PARK DR., HOUSTON, TX 770414805 WESTWAY PARK BLVD. HOUSTON, TX 77041
PORTFOLIO PRICE $22,500,000
TOTAL GLA 157,166 SF
LAND AREA 4.8 ACRES
YEAR BUILT 2006/2009
• Flexible leaseback structure for 4805 Westway Park generates cash flow while repositioning 11050 Capital Park
• Priced well below replacement cost and 2019 assessed values
• Positioned in prime location off the Beltway with easy access to 290 and I-10
• Located within the prestigious Westway business park that remains home to a multitude of globally accredited tenants
• Opportunity to purchase as a portfolio or acquire 11050 Capital Park individually
EXECUTIVE SUMMARY
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157,166 SFTotal GLA
$22.5MPrice
$143Price Per SF
4.8Acres
NewQuest Properties has been retained to exclusively represent the seller in the sale of The Seismic Exchange Campus, located in the highly desirable Westway business park off Beltway 8 in the northwest side of Houston, Texas. The campus is more specifically located in the northwest corridor of the Sam Houston Tollway and Clay Road, just north of I-10 and south of 290. The subject property is comprised of two buildings located at 11050 Capital Park and 4805 Westway Park Boulevard and one parking garage on a 4.8-acre campus. The property is located outside of the 500-year flood plain and experienced no damage from Hurricane Harvey.
The offering is priced as a portfolio at $22,500,000 or $143 per SF (parking garage not factored in) which is well below replacement cost. 2019 assessed values are significantly higher than the offering prices. 4805 Westway Park is appraised at $19,383,825 while 11050 Capital Park is appraised at $12,150,000 for a total assessment of $31,533,825.
Seismic Exchange will consider leasing back the entirety of the building at 4805 Westway Park for a period up to three years with the lease commencing upon close of escrow. This provides an investor or user attractive cash flow while leasing up 11050 Capital Park. The owners would also be willing to sell the 11050 Capital Park building individually with an asking pricing of $8M or $95 per SF.
INVESTMENT OVERVIEW
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Seismic Exchange, Inc. (SEI) is a prime source of premium 2D and 3D seismic data for the upstream oil and
gas industry. SEI’s corporate headquarters are located in Houston, Texas, and SEI serves the oil and gas
industry with marketing offices located in New Orleans, Dallas, Denver, and Tulsa, and with a strong presence
in San Antonio, Corpus Christi, Lafayette, Jackson, Midland, and Bakersfield.
ABOUT SEISMIC EXCHANGE
INVESTMENT HIGHLIGHTS
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SUGAR LAND PEARLAND
KATY
SPRING
CENTRALBUSINESSDISTRICT
WILLIAM P.HOBBY AIRPORT
TEXASMEDICALCENTER
NRGSTADIUM
GEORGE BUSHINTL AIRPORT
SUGAR LANDAIRPORT
ENERGYCORRIDOR
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6
LOCATIONLocated on the Northwest side of Houston
off the Sam Houston Tollway, it has direct
access to Interstate 10 and U.S. 290. and
the Beltway, and is proximate to one of
the most abundant labor pools in Houston.
Both buildings are located within Westway
Park, a 150 acre, deed restricted business
park with strict land use codes developed 18
years ago by the Wolff Companies. The Park
is comprised of tenancy such as GE Oil &
Gas, Cameron, Schneider Electric, Siemens
Energy, Principal Management Group,
OneSubsea, Sigma Cubed, Chamberlain
University College of Nursing, Wellstream
and CyrusOne. Employers have also found
it attractive from a hiring and retention
standpoint as the location is convenient
and there are plenty of residential
neighborhoods nearby with great schools
like the Memorial Villages. The area also
offers nearby amenities for employees like
a three- acre park, multiple business-class
hotels and plenty of nearby restaurants/
entertainment, including Memorial City
mall and CityCenter a couple of miles away.
Additionally, the Sam Houston Tollway
offers easy access to the George Bush
Intercontinental Airport, the I-10 Energy
Corridor and many other areas of Houston.
SEISMIC EXCHANGE CAMPUS
DRIVETIME STATISTICS FROM SITE
10 Minute Drivetime:138,152 people (USPS count)
11,340 businesses with 145,722 employees
Memorial City Mall & Spring Branch are
located within a 10-minute drivetime of the
site
15 Minute Drivetime:350,031 people (USPS count)
24,013 businesses with 283,198 employees
Energy Corridor, The Galleria and
Westchase districts are all located within a
15-minute drivetime of the site
20 Minute Drivetime:720,891 people (USPS count)
46,988 businesses with 507,189 employees
The bedroom communities of Cypress &
Katy are both located within a 20-minute
drivetime of the site
30 Minute Drivetime:1,917, 097 people (USPS count)
110,313 businesses with 1,194,054 employees
Central Business District (“CBD”), Sugar
Land & The Texas Medical Center
LOCATION OVERVIEW
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PROPERTY OVERVIEW
11050 Capital Park is a two-story flex building that was built in 2000 and expanded in 2006 to accommodate Seismic Exchange’s need for stor-age. In recent years, their space needs have been reduced as analog data was converted to digital and they developed an off-site storage facility. 11050 Capital Park contains 83,794 gross leasable square feet and 82,144 net rentable area on a 2.39-acre site.
Property Features:
a) The high-end construction is comprised of a steel frame super structure with concrete slab and custom finished tilt wall. b) There is one passenger and one freight elevator along with 84 surface parking spaces. c) Approximately 65% (51,019 SF) of the rentable area is configured as high-end office space with the average size office being 10 ‘ x 14’. There are a variety of conference room configurations on both levels. d) Approximately 35% (31,120 SF) of the rentable area is fully air-conditioned, high-quality light industrial space, which is served by two grade-level loading areas on the east side of the property. This space could accommodate users looking for a larger office footprint with a need for contiguous climate-controlled storage. Medical equipment, pharmaceuticals, biotech, logistics, lab space are among the many uses this space could accommodate.
Following the expansion of 11050 Capital Park in 2006, Seismic Exchange decided to relocate their headquarters from New Orleans to Houston and built 4805 Westway Park. 4805 Westway Park Boulevard is a LEED certified five-story, class A office building built in 2009 and the current Headquarters of Seismic Exchange. The Property contains 73,372 gross leasable square feet on a 2.4-acre site.
Property Features:
a) The high-end construction is comprised of a concrete super structure, post tension slabs, glass and masonry skin, marble and hardwood flooring, glass tile restrooms, rooftop terrace, water chilled system.b) There are two passenger elevators and 29 entry parking space.
The parking garage was completed in 2009 and offers 269 parking spaces, for a total of 382 campus parking spaces. The garage is multi-level with post tension construction which makes for stronger concrete and prevents cracking.
Additional campus improvements and amenities include:
a) an iron perimeter fence with an entrance gate b) security with card key access and 34 camerasc) fully sprinkleredd) IGB Ethernete) Ground level server rooms totaling 1,650 SF cooled by a 15 ton server A/Cf) back-up emergency generatorsg) 34 roof-mounted , single zone package units for heating and coolingh) extensive landscaping.
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4805 WESTWAY PARK BOULEVARD HOUSTON, TX 77041
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11050 CAPITAL PARK DRIVE HOUSTON, TX 77041
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SUGAR LAND
KATY
6TEXAS
59
10
90
290
249TEXAS
TOLLWAY
HCTRA
99TOLL
SPRING
610 HOUSTON
PEARLAND
CYPRESSSEISMIC EXCHANGE CAMPUS
REGIONAL MAP
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SUGAR LAND
KATY
6TEXAS
59
10
90
290
249TEXAS
TOLLWAY
HCTRA
99TOLL
SPRING
610 HOUSTON
PEARLAND
CYPRESS
8SA
M H
OU
STO
N T
OLL
WA
Y
CORPORATE CENTRE DR
WE
STW
AY
PA
RK
BLV
D
GE
SSN
ER
RD
CLAY RD
EQUITY DR
CAPITAL PARK DR
DU
RB
AN
DR
LAU
RE
DA
LE R
D
WE
STW
AY
PA
RK
BLV
D
LYBERT DR
CLA
RA
RD
STE
FFA
NI L
N
BROOKSHIRE LN
SPRING BROOK DR
CLEAR COVE LN
ROCKCREST RD
SHA
DO
WVA
LE D
R
JUNIPER GLEN DR
GOODRUM RD
N PAGEWICK DR
BAMBOO RD
PORTO RICO RD
TANGIERS RD
ALGIERS RD
GENARD RD
SEISMIC EXCHANGE CAMPUS
LOCAL MAP
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TOLLWAY
SAM HOUSTON
SAM
HO
UST
ON
TLW
Y
149,
64
8 V
PD
TOLLWAY
SAM HOUSTON
KEMPWOOD DR
CLAY RD
TANNER RD
BR
ITT
MO
OR
E R
D
GE
SS
NE
R R
D
NorthbrookMiddle School
Spring Meadows
3 Corners NorthApartments
Gardens atSpring Shadows
Apartments
Westhbranch
Spring Shadows
Distribution Center
Carverdale
Spring BranchVilla
Brittmoore ClayIndustrial Park
SEISMIC EXCHANGE CAMPUSSITE
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AERIAL VIEW
16
TOLLWAY
SAM HOUSTON
SAM
HO
UST
ON
TLW
Y
149,
648
VP
DEQUITY DR
CAPITAL PARK WY
WES
TWAY
PA
RK
BLV
D
WESTWAY PA
RK
BLV
D
Westbranch
Century WestwayPark Apartments
SEISMIC EXCHANGE CAMPUSSITE
AERIAL VIEW
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CP Building83,794 SF
2-Story
WWP Building73,372 SF
5-Story
4805 Westway Park Blvd
11
050
Ca
pita
l Park
Driv
e
~4.8 acre campus with 2 buildings and 1 parking garage
CP Building completed in 2000, the expansion in 2006. Office/Warehouse, steel frame super structure with concrete slab and custom finished tilt wall, passenger and freight elevator WWP Building completed in 2009, Class A buildingOffice building, concrete super structure, post tension slabs, glass and masonry skin, marble and hardwood flooring, glass tile restrooms, rooftop terrace, water chilled system,
Parking Garage with 269 spaces, completed in 2009Multi-level, post tension construction
, 2 passenger elevators
269 Parking SpaceParking Garage
, 84 parking spaces
382 Grand Total campus parking
29 entry parking spaces
SITE PLAN
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RENT SCHEDULE
Year Annual Rent Monthly Rent Per SQ FT
1 $1,320,696 $110,058 $18.00
2 $1,347,110 $112,259 $18.36
3 $1,374,052 $114,504 $18.73
PROPERTY DETAILS
Year Built / Renovated 2009
Gross Leasable Area 73,372 SF
Type of Ownership Fee Simple
Lot Size 2.40 Acres
LEASE DETAILS
Property SubtypeSINGLE
TENANT OFFICE
Tenant SEISMIC EXCHANGE
Sale Leaseback Yes
Rent Increases 2% Annually
Guarantor Corporate Guarantee
Lease Type NNN
Lease Commencement At Close of Escrow
Initial Lease Term 3 Years
Renewal Options None
4805 WESTWAY PARK BLVD HOUSTON, TX 77041LEASE-BACK
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RETURNS CURRENT PRO FORMA
CAP Rate 0 11.31%
INCOME CURRENT PRO FORMA
Potential Gross Revenue 0 $1,005,528
General Vacancy 0 10.00% ($100,553)
Net Operating Income 0 $904,975
TOTAL RETURN 0 11.31% $904,975
PRICE $8,000,000
Price Per Sq Ft $95.47
Gross Leasable Area (GLA) 83,794 SF
Lot Size 2.40 Acres
Year Built/Expanded 2000/2006
Occupancy 0%
11050 CAPITAL PARK DRIVE HOUSTON, TX 77041PRICING DETAIL