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July 27, 2017
North Houston District Market Update
![Page 2: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/2.jpg)
The North Houston District Submarket: 1H 2017
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North Houston District
![Page 4: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/4.jpg)
The Macro Environment
2017 Mid-Year Update
2017A Transition Year
Source: Greater Houston Partnership
Gliding along the
bottom of the bathtub?
![Page 5: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/5.jpg)
The Macro Environment
Oil & Gas
![Page 6: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/6.jpg)
The Macro Environment
Oil & Gas
Source: Dallas Federal Reserve Bank
![Page 7: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/7.jpg)
The Macro Environment
Oil & Gas
![Page 8: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/8.jpg)
The Macro Environment
Oil & Gas
Source: Dallas Federal Reserve Bank
![Page 9: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/9.jpg)
The Macro Environment
Oil & Gas
![Page 10: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/10.jpg)
The Macro Environment
Source: Greater Houston Partnership
![Page 11: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/11.jpg)
The Macro Environment
Source: Greater Houston Partnership
![Page 12: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/12.jpg)
The Macro Environment
2017 Mid-Year Update
2017A Transition Year
Source: Greater Houston Partnership
Gliding along the
bottom of the bathtub?
![Page 13: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/13.jpg)
The Capital Markets
Lending
![Page 14: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/14.jpg)
The Capital Markets
Lending
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The Capital Markets
Lending
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The Capital Markets
Lending
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The Capital Markets
Lending
Source: ULI
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The Capital Markets
Lending
![Page 19: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/19.jpg)
The Capital Markets
Lending
![Page 20: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/20.jpg)
North Houston District
Market Snapshot
Office Class A
Office Class B & C
Industrial/Flex Class A
Industrial/Flex Class B & C
Retail
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2017 Development Highlights
101,111 SF 41,000 SF
vinmar
37,617 SF 18,073 SF13,900 SF
NORTH HOUSTON
64,000 SF
OFFICE
855,000 SF
OTHERINDUSTRIAL
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Houston Office MarketOverview
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Houston Office MarketOverview
Highlights from CBRE 2Q
Press Briefing on July 18
Leasing Activity
3.2 M sf
In 2Q, nearly double 1Q
3 M sf sublease space
To burn off in next 2.5 years
(availability won’t go up; vacancy will)
“Flight to Quality”
Vacancy =
A
B
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North Houston District Submarket
Office
Source: CoStar
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North Houston District Submarket
Class A Office
Source: CoStar
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North Houston District Submarket
Class A Office
Source: CoStar
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North Houston District Submarket
Class A Office
Source: CoStar
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North Houston District Submarket
Class A Office
Class A Office Pricing
$23.50per square
foot
Five-year
average:
$27.08 per square
foot
Source: CoStar
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North Houston District Submarket
Class A Office
So What Does it Mean?
• Large Blocks
• Nice Buildings
• Value Pricing
• Headquarters Opportunities
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North Houston District
Headquarters Opportunities
Headquartered In Houston
Headquartered In
North Houston District
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Tax & Regulatory Environment
No State, Personal or Corporate Income Tax
Business-friendly Regulatory Environment
North Houston District
Headquarters Opportunities
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Workforce Training/Higher Education
One of Texas’s largest community colleges with
workforce training in numerous fields
Two Tier 1 Universities in the Houston Region
North Houston District
Headquarters Opportunities
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Destination Miles Min
Downtown 13 19
Bush Intercontinental
Airport (IAH) 6 10
Port of Houston 22 30
Texas Medical Center 20 29
The Galleria 19 25
The Woodlands 17 20
Energy Corridor 22 25
Generation Park 14 18
Source: Yahoo! Maps, Driving Directions
North Houston District
Headquarters Opportunities
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North Houston District
Headquarters Opportunities
Available Class A Office Space
Affordable Rates Large Contiguous Blocks Available
Strong Value Proposition
Why North Houston District?
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North Houston District
Headquarters Opportunities
Buildings with Sizeable Space Available (sample listing)
Greenspoint Place
(multiple buildings)
8 GreenspointNorthborough
Tower
13401 North Freeway
TowerparkNorth
(10700 North Fwy)
16676 Northchase
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North Houston District Submarket
Class B&C Office
Source: CoStar
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North Houston District Submarket
Class B&C Office
Source: CoStar
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North Houston District Submarket
Class B&C Office
Source: CoStar
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North Houston District Submarket
Class B&C Office
Class B & C Office Pricing
$16.09per square
foot
Five-year
average:
$15.41per square
foot
Source: CoStar
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Houston Industrial Market
Houston Industrial Market Overview
• Strong in warehouse/distribution
• Soft in manufacturing (crane-served)
• Positive net absorption and disciplined development
• E-commerce driving trends
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North Houston District Submarket
Industrial/Flex
Source: CoStar
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North Houston District Submarket
Class A Industrial/Flex
0.00
1.10
1.10
2.75
0.00 0.50 1.00 1.50 2.00 2.50 3.00
SUBLET (MSF)
VACANT (MSF)
AVAILABLE (MSF)
TOTAL (MSF)
Class A Ind./Flex
Source: CoStar
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North Houston District Submarket
Class A Industrial/Flex
Source: CoStar
![Page 44: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/44.jpg)
North Houston District Submarket
Industrial/FlexWhy North Houston?
Freeway Network Proximity to Airport
Construction
Start
3Q 2016
Finish
3Q 2017
582 jobs,
$110.6 million
Facts/Figures
855,000 sf 2,500 jobs$173 million annual economic impact
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North Houston District Submarket
Industrial/Flex
Opened July 16
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North Houston District Submarket
Industrial/Flex
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North Houston District Submarket
Class B&C Industrial/Flex
Source: CoStar
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North Houston District Submarket
Class B&C Industrial/Flex
Source: CoStar
![Page 49: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/49.jpg)
North Houston District Submarket
Retail
RetailBig component of North Houston
District’s commercial real estate market
Approximately
195 buildings
5.3 million sf
>$600 million in value
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North Houston District Submarket
Retail
The
New
Retail Paradigm
HIGH-END
MIDDLE
LOW-END
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North Houston District Submarket
Retail
NOTHERE
HIGH-END
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North Houston District Submarket
Retail
MIDDLE
Old Middle…
…New Middle
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•
North Houston District Submarket
Retail
LOW-END
![Page 54: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/54.jpg)
North Houston District Submarket
Retail
![Page 55: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/55.jpg)
North Houston District Submarket
Retail
Hispanic-Focused Retail - Another Strong Retail Segment
![Page 56: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/56.jpg)
North Houston District Submarket
Retail
And there is retail under construction and land for more…
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North Houston District Submarket
Retail
Source: CoStarSource: CoStar
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North Houston District Submarket
Retail
Source: CoStarSource: CoStar
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North Houston District Submarket
Retail
Retail Pricing
$12.56per square
foot NNN
Five-year
average:
$12.40per square
foot NNN
Source: CoStar
![Page 60: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/60.jpg)
Questions?
![Page 61: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/61.jpg)
Tell Us What You Think
![Page 62: North Houston District Market Update · PDF fileSource: Greater Houston Partnership Gliding along the bottom of the bathtub? The Macro Environment ... Source: CoStar. North Houston](https://reader031.vdocument.in/reader031/viewer/2022030508/5ab7881b7f8b9aa6018b8c88/html5/thumbnails/62.jpg)
Connect With Us! northhouston.org
NHDistrict
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North Houston DistrictMarket Update
July 27, 2017