HOUSTON, TX
Cafeteria (Ground Lease)
Luby’s, Inc. (NYSE: LUB) operates restaurants under the brands Luby’s Cafeteria, Fuddruckers and Cheeseburger in Paradise and provides food service management through its Luby’s Culinary Services division. The company-operated restaurants include 94 Luby’s Cafeterias, 71 Fuddruckers restaurants, eight Cheeseburger in Paradise full service restaurants and bars and one Bob Luby’s Seafood Grill. Its 94 Luby’s Cafeterias are located primarily in Texas. In addition to the 71 company-operated Fuddruckers locations, Luby’s is the franchisor for 107 Fuddruckers franchise locations across the United States (including Puerto Rico), Canada, Mexico, Italy, Chile and the Dominican Republic. Luby’s Culinary Services provides food service management to 25 sites consisting of healthcare, higher education and corporate dining locations.
• Long-Term Corporate Ground Lease
• Tenant Since 1998 - Recently Renewed Early for Additional 5 Years
• Publically Trade Tenant (NYSE: LUB)
• Below Market Rent - $8.77psf
• Rent Escalation of 10% Within 1 Year Increasing Returns
• Located Just 10 Miles North of Downtown Houston
• Pad Site to 175,000 Sq Ft Mount Houston Shopping Center Anchored by Famsa & Fallas including Walgreens, CitiTrends, Family Dollar, Subway, Cici’s Pizza, & Dairy Queen
• Located Along US Hwy 59 and E Mt Houston Rd with Traffic Counts Exceeding 200,000 Vehicles Per Day – Excellent Highway Visibility
• Dense Infill Location – Population exceeds 208,000 People Within 5 miles
• Houston was Named Forbes’ Fastest Growing City in the United States for 2015
• Houston’s Economy has a Broad Industrial Base in the Energy, Aeronautics, and Technology Industries: Only New York City is Home to More Fortune 500 Headquarters
HOUSTON, TX
Houston is the most populous city in Texas, and the fifth most populous city in the United States. With a censusestimated 2013 population of 6.49 million people within a land area of 10,062 square miles, Houston is the largest city in the Southern United States, the seat of Harris County, and fifth-most populated metropolitan area in the United States.
Houston was founded in 1836 on land near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city on June 5, 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles (40 km) east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center— the world’s largest concentration of healthcare and research institutions—and NASA’s Johnson Space Center, where the Mission Control Center is located.
Houston’s economy has a broad industrial base in energy, manufacturing, aeronautics, and transportation. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.
Nicknamed the Space City, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research. The city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is considered to be the most diverse city in Texas and the United States. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts.
Geography: 5 miles
PoPulation
In the identified area, the current year population is 208,943. The rate of change since 2000 was 12.4%. The five-year projection for the population in the area is 221,887 representing a change of 6.2% from 2015 to 2020. Currently, the population is 50.1% male and 49.9% female. The median age in this area is 28.1, compared to the U.S. median agoe of 37.9.
HouseHolds
There are currently 60,117 households in your selected georgraphy. The number of households has changed by 11.2% since 2000. It is estimated that the number of households in your area will be 63,878 five years from now, which represents a change of 6.3% from the current year. The average household size in your area is 3.45 persons.
In 2015, the median household income for your selected georgraphy is $34,093, compare this to the Entire U.S. average, which is currently $53,217. It is estimated that the median household income in your area will be $38,332 five years from now, which represents a change of 12.4% from the current year.
The current year per capita income in your area is $13,801 compare this to the Entire U.S. average, which is $28,597. The current year average household income in your area is $47,297 , compare this to the Entire U.S. average, which is $74,699.
Race and etHnicity
The current year racial makeup of your selected area is as follows: 43.5% White, 27.0% Black, 0.8% Native American and 1.0% Asian/Pacific Islander. Compare these to the Entire U.S. Averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander.
People of Hispanic origin are counted independently of race. People of Hispanic origin make up 64.1% of the current year population in your selected area. Compare this to the Entire U.S. average of 17.6%.
Housing
In 2015, there were 34,116 owner occupied housing units in your area and there were 26,002 renter occupied housing units in your area. Median home value in the area is $108,205, compared to a median home value of $200,006 for the U.S.
emPloyment
In 2015, there are 82,143 employees in your selected area, this is also known as the daytime population. Currently, 37.7% of employees are employed in white-collar occupations in this geography, and 41.9% are employed in blue-collar occupations. In 2015, unemployment in this area is 6.1%.
Demographic data © 2016 esri
CONFIDENTIALITY AGREEMENT
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.
This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.