3703 Westheimer

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811 10

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AN EXTRAORDINARY DEVELOPMENT OPPORTUNITY

NOTABLE AREA PROPERTIES

1 – High-Rise Development2 – Medical Office Development3 – Novel River Oaks Development4 – River Oaks Baptist School5 – River Oaks Neighborhood6 – Highland Village7 – Park Place Office Development8 – River Oaks District9 – The Ivy & The James Multifamily10 – Uptown District11 – The Galleria12 – Williams Tower13 – 2929 Weslayan High-Rise

SITETotal of 1.7 Acres

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Weslayan Street

OFFERS DUE SEPTEMBER 30TH, 2019

CONTACT INFORMATION

Kyle Drake

kdrake@drakerealtygroup.com

T: (713) 627-0501

M: (713) 204-3612

Drake Realty Group is pleased to announce the exclusive listing of a spectacular,

premier infill core redevelopment opportunity strategically located in the heart of

River Oaks, at 3703 Westheimer Rd., totaling 1.7 acres.

The Property is conveniently located near The Galleria, Uptown, Greenway Plaza,

Downtown, The Medical Center, and is in close proximity to Highland Village,

River Oaks District, River Oaks Shopping Center, and the heart of the Houston

Galleria amenities. The opportunity offers the best of what Houston has to offer

with the Property being located adjacent to the exclusive residential community of

River Oaks, and only minutes away from all of Houston’s major employment

centers, as well as Houston's premiere shopping district, the finest hotels,

restaurants and night spots.

OFFER PROCESS

The Property will offer qualified investors an opportunity to create the area's

newest premier, upscale development in one of the most sought after areas in

Houston.

The Property is being offered on an "All Cash" basis and prospective purchasers

will have the opportunity to visit the Property through scheduled tours with Drake

Realty Group.

OFFER REQUIREMENTS

Any offers should be presented in the form of a non-binding Letter of Intent and

must include at a minimum:

1) Pricing

2) Due Diligence and Closing Timeline

3) Earnest Money Deposit

4) Proposed Development Plans

5) Qualifications to Close

6) Description of Debt/Equity Structure

Purchase terms will require cash to be paid at closing. Offers should be delivered to

the attention of Kyle Drake via fax or email.

DUE DILILGENCE INFORMATION

To access the due diligence information, please visit the property website at

www.riveroakssite.com

HIGHLIGHTS:• Premier infill core location totaling 1.7 acres

• Located in River Oaks, one of Houston’s most exclusive, sought after submarkets

• Located near some of Houston’s most prominent mid-rise and high-rise multifamily developments, mixed-

use, hotels and prime upscale retail developments

• Will offer spectacular views of Houston Galleria area, Downtown Houston, Greenway Plaza, River Oaks

and Memorial Park

• Will offer unobstructed views in all directions

• Last remaining large developable site in River Oaks

• Located .3 miles from Highland Village, .95 miles from River Oaks District and 1.4 miles from The Galleria

• Walking distance from The Briar Club and the River Oaks Park

• Close vicinity to Memorial Park. A 1,503 acre park development off of Memorial Dr., and Loop 610 that

contains a 600 acre golf course, The Houston Arboretum and Nature Center, and miles of jogging and

biking trails

• Access to major freeways that include I-610 Loop, Interstate 10, US Highway 59 and US Highway 290

• 5 out of the top 10 Houston Private Companies and 7 out of the Top 10 Houston Companies are located

within 7.5 miles of the available site

* According to the Houston Chronicle, www.chron.com/business/chron-100, published ………

** Distance from 3703 Westheimer Street, Houston, Texas

*Houston's Top Private Companies *Houston's Top Public Companies

Rank Company **Miles Rank Company **Miles

1 Calpine 5.6 1 ConocoPhilips 14

2 Gulf States Toyota 14.3 2 Cheniere Energy 5.6

3 Academy 23 3 Cheniere E. Partners 5.6

4 Landry’s 1.9 4 Plains All American Pipeline 5

5 Ascend Performance 5.7 5 Penn Virginia Corporation 17

6 G&A Partners 18.7 6 Plains GP Holdings 5.4

7 David Weekly 4.6 7 Occidental Petro. Corporation 1.2

8 Smith 10.5 8 Marathon Oil Corporation 2.7

9 Mustang Cat 11.1 9 Adams Resources and Energy 1.5

10 S&B Engineering 2.7 10 Baker Hughes, a GE Company 12.5

SITETotal of 1.7 Acres

Greenway PlazaTexas Medical Center

The Briar Club

S

SITETotal of 1.7 Acres

The Briar Club

Lamar TowerThe River Oaks

The RO Development

Kirby Collection

Hanover River Oaks

Houston CBD

The Huntington

Lamar High SchoolSt. John’s School

River Oaks

American General Center

E

SITETotal of 1.7 Acres

Westheimer Road

Randall Davis High-Rise Development

Medical Office Development

Novel River Oaks Multifamily Development

The Willowick Condos

San Felipe St.

Inwood Manor CondosRiver Oaks Country Club

River Oaks Neighborhood

The Briar Club

Memorial Park

N

SITETotal of 1.7 Acres

Randall Davis High-Rise Development

Medical Office Development

Novel River Oaks

The Willowick Condos

River Oaks Baptist School

HEB Central Market

Highland Village

The Ivy & The James

Park PlaceRiver Oaks District

Arabella Uptown DistrictThe Galleria

River Oaks Neighborhood

NW

SITETotal of 1.7 Acres

Randall Davis High-Rise Development

Williams Tower

TCR Alexan Lynn Park Development

Aria at Willowick Park

HEB Central Market

Greenway Commons

2929 Weslayan

Afton Oaks Neighborhood

SW

S

SITETotal of 1.7 Acres

The Briar Club

TCR Alexan Lynn Park Development

Greenway Commons

Greenway PlazaWest University Place

W Alabama St.

See Where Houston Ranks

▪ Top Metro For Economic Growth Potential Business Facilities Magazine – July 23, 2018

▪ The Langston Co. names Houston the nation’s, “Best City For Millennials” (2019)

▪ Houston named the #2 best city in the world to live according to expats by Business Insider

(2017)

▪ Houston's Texas Medical Center is the largest medical center in the world, with 21 hospitals,

eight academic and research institutions, and 50 total related organizations, all not-for-

profit. 2017 Hospital Rankings by U.S. News & World Report: Houston Methodist Hospital -

Best Hospital in Texas

▪ Top U.S. Metros For Job Growth (Between October '08 AND October ‘18) U.S. Bureau of

Labor Statistics – November 2018

▪ Best Markets To Purchase Multifamily Assets Ten-X (as reported by Houston

Chronicle) – August 3, 2018

▪ Houston was named one of the "Top 3 American cities of the future" by the Financial Times

(2017)

▪ Houston ranked #3 in Fortune's "Number Of Fortune 500 Headquarters" with 24 companies

(2016)

MARKET:

Houston

With a booming economy, Houston has seen unparalleled

growth in recent years. Houston 's labor force is at 3.4

million jobs and counting and has more jobs than Maryland,

Arizona or Colorado. Houston is one of the the fastest

growing major metropolitan area in Texas since 2004 and as

the fourth largest city in the U.S. and the sixth largest MSA,

Houston is ready-made for business success.

Houston added just over 114,000 jobs in the 12 months

ending in November 2018, more than any other US

metropolitan area. Houston’s lead in employment growth

came just as the price oil began to soften in late 2018.

Houston’s performance barely edged out New York, which

added 113,000 net new jobs over the same period. No other

metropolitan area gained in excess of 100,000 jobs, though

two came close: Dallas/Fort Worth added nearly 95,000 jobs

during the period and Phoenix was up by nearly 87,000.

Houston, Phoenix, Cleveland, Seattle, and New York were the

five metropolitan areas experiencing the most acceleration in

job growth between November 2017 and November 2018.

Seattle, for example, added nearly 48,000 jobs for the 12

months ending in November 2017, but in the 12 months that

followed, the net gain jumped to more 72,000 jobs.

Houston has become an international destination and one of

the world's great cities.

As a major corporate center. Houston is home to 23 Fortune

500 companies.

River Oaks / Highland Village

River Oaks, nestled between The Galleria and Montrose is

located within 610 Loop between Downtown and Uptown

spanning over 1,100 acres. Home to River Oaks Country

Club and one of the most expensive neighborhoods in

Houston, originally developed in the 1920’s. The community

is located in a region bounded on the north by Buffalo Bayou,

on the east by South Shepherd Drive, on the west by

Willowick Rd. / Weslayan St., and on the south

by Westheimer Road. River Oaks is located northeast

of Uptown, north of the Upper Kirby district, west

of Neartown, and is near to the freeway system and many

major thoroughfares such as Westheimer Road, Kirby Drive

and San Felipe Street.

Highland Village is located inside the 610 Loop in the triangle

formed by Greenway Plaza, Uptown, and River Oaks. This

upscale shopping center located near The Galleria features

prestigious nationally known retailers, exclusive specialty

stores, and fine restaurants Stores in the area

include Highland Village Shopping Center, H-E-B’s Central

Market, and Rice Epicurean supermarkets. Shopping

in Uptown and the Upper Kirby districts are nearby.

Market Dynamics

The River Oaks / Highland Village area is a charismatic,

urban community located west of Downtown with an average

per capita income higher than areas like Buckhead (Atlanta,

GA), Highland Park Village (Dallas, TX) and Beverly Center

(Beverly Hills, CA).

OTHER SUBMARKETS OF HOUSTON:

Downtown (7.4 miles)

▪ Houston's central business district,

hosting 10 of Houston’s 20 Fortune 500

companies

▪ Largest business district in Houston

▪ Employs more than 150,000 employees

by 3,500 businesses and contains 50 million

square feet of office space

▪ Home to three major league sports venues

Minute Maid Park, Toyota Center and BBVA

Compass Stadium) and the George R. Brown

Convention Center

Texas Medical Center (4.7 miles)

▪ Largest medical complex in the world

▪ Eighth largest business district in the world

▪ Home to 54 medical related institutions that

include 21 hospitals, 8 specialty institutions, 8

academic and research institutions, 3 medical

schools, 6 nursing schools

▪ Employs over 106,000 workers that include

20,000 advanced degreed professionals in life

science

Greenway Plaza (1 mile)

▪ Houston’s first completely master-planned business-

commercial-residential complex developed

▪ One of Greater Houston’s largest employment centers,

comprised of 11 commercial buildings with 4.4 million

square feet of office space on a 52-acre campus

▪ Class A office in a pedestrian-oriented environment

supported by acres of activated plaza, green and indoor

gathering spaces, plus elevated food and beverage

providers and a myriad of services spanning from

coworking and conferencing to fitness and beauty

Galleria/Uptown (1.4 miles)

▪ 17th largest business district in the U.S. with over 24 million

square feet of office space and over 2000 companies

▪ 23% of Houston’s Class A office space

▪ The Galleria is the largest mall in Texas and 7th largest in

the United States with 339 stores and 3 million square feet

▪ Home to major employers like Enbridge, Air Liquide

America, Apache Corp., Marathon Oil Corp., BHP

Billiton, iHeart Media, Inc., Landry’s, Duke Energy,

BBVA, Schlumberger, Bechtel Corp and many more

Energy Corridor (12 miles)

▪ Home to 300 multi-national, national and local

companies

▪ Over 26 million square feet of Class A office space

▪ One of Houston’s largest employment centers

▪ Home to some of Houston’s largest national and

international companies, such as BP America,

ConocoPhillips and Shell

▪ Close to 100,000 employed workers and more than

33°/o of Houston area architects and engineers live

within a 30-minute commute zone (the available

Property is within this commute zone)

Rice Village (2.9 miles)

▪ Over 300 shops in the immediate 16-block area

▪ Boutiques and eclectic shops as well as high-end clothing

stores such as Chico’s, Talbots, White House Black Market,

Banana Republic, Kendra Scott, Altar’d State and Warby

Parker

▪ Dining options include a variety of food from all over the

world including Japanese, Chinese, French, Italian,

Mexican, Spanish, Mediterranean, and Vietnamese, as well

as Mendocino Farms, Shake Shack, Hopdoddy, and Torchy

Tacos

OTHER SUBMARKETS OF HOUSTON:

5851 San Felipe St., Suite 220

Houston, Texas 77057

Phone: (713) 627-0555

DrakeRealtyGroup.com

More information is available on our website at:

www.riveroakssite.com

▪ MULTIFAMILY ASSETS ▪ MIXED-USE PROJECTS ▪ LAND DISPOSITION & DEVELOPMENT SERVICES

Disclaimer

Prospective investors in the Property (“prospective purchasers”) are hereby advised that the Owner of the Property is soliciting offers through

Drake Realty Group, LLC (“DRG”), which may be accepted or rejected by the Owner at the Owner’s sole discretion.

Any solicitation of an offer for the Property offered hereunder will be governed by this Offering, as it may be modified or supplemented from

time-to-time. Prospective purchasers are advised that as part of the offer process, the Owner will be evaluating several factors including the

terms of sale and the experience and financial qualifications of the purchasing entity.

The Owner shall have no obligation to accept any offer from any prospective purchaser. The Owner reserves the right to withdraw the Property

from consideration at any time prior to final execution of a Purchase Agreement.

This Offering document is furnished to prospective purchasers for the purpose of determining whether to invest in the Property offered hereby.

The information contained herein, or any other related information provided by the Owner or DRG, may not be reproduced, redistributed or

used in whole or in part without the prior written consent of the Owner.

No person has been authorized to give any information or make any representation or warranty, either expressed or implied and, if given or

made, such information or representation must not be relied upon.

While the Owner and DRG have no reason to believe that the information provided herein or in subsequent information updates delivered to

prospective purchasers hereunder contains any material inaccuracies, neither the Owner nor DRG nor any of the Owner’s or DRG’s respective

subsidiaries, affiliates, companies, or the officers, directors, employees, agents and representatives of any such entities, etc., make any

representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided,

and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the

Property or any other matters set forth herein.

Any obligations to prospective purchasers that the Owner may have with respect to the Properties are limited to those expressly set forth in a fully

executed Purchase Agreement by both the Owner and the prospective purchaser. Prospective purchaser’s sole and exclusive rights against the

Owner with respect to prospective transactions, the Property, or information provided herein or subsequently, shall be limited to those remedies

expressly provided in an executed Purchase Agreement, which shall not service the closing. Further, in no event shall prospective purchasers

have any claims against the Owner, DRG, or any of their respective affiliates for any damages, liability, or causes of action relating to the

Purchase Agreement.

No commission or finder’s fee shall be payable to any party by the Owner nor any affiliate or agent thereof in connection with the sale of the

Property.

Prior to purchasing, prospective purchasers should consult with their own legal counsel and personal and tax advisors to determine the

consequences of an investment in the Property and arrive at an independent evaluation of such investment through their own independent due

diligence investigation.