Trinity Professional Center - Pearland, TX

TRINITY PROFESSIONAL CENTER PEARLAND, TX (HOUSTON MSA)

PRI CING & F INAN CI AL AN ALYSI S

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

Trinity Professional Center 1910-1930 Country Place Pkwy Pearland, TX 77584

OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built

$26,700,000 7.39% $1,972,062 $297.83 94% 2005/2008

Gross Leasable Area

89,649 SF

Lot Size

5.24 Acres

F I N A N C I A L A N A LY S I S

2

PRI CING & F INAN CI AL AN ALYSI S

PROJECTED INCOME & EXPENSES Base Rent - Occupied Space

94%

GROSS POTENTIAL RENT

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

CURRENT

PSF

EXPENSES

CURRENT

PSF

$1,983,854

$22.13

Real Estate Taxes

$185,490

$2.07

$1,983,854

$22.13

Insurance

$55,609

$0.62

Elevator

$4,047

$0.05

Janitorial

$47,380

$0.53

Landscaping

$10,908

$0.12

Pest Control

$1,754

$0.02

Office CAM

Expense Reimbursements Real Estate Tax Recoveries

$139,848

$1.56

Insurance Recoveries

$74,053

$0.83

CAM Recoveries

$247,636

$2.76

Management Recoveries

$59,032

$0.66

Repairs & Maintenance

$20,917

$0.23

Total Expense Reimbursements

$520,568

$5.81

Security

$8,272

$0.09

Century Link Rent

$4,800

$0.05

Trash / Dumpster

$2,946

$0.03

Total Other Revenue

$4,800

$0.05

Electric

$62,084

$0.69

$2,509,222

$27.99

Water/Sewer

$16,853

$0.19

Internet

$5,526

$0.06

Advertising

$1,355

$0.02

EFFECTIVE GROSS REVENUE Operating Expenses Office Taxes

$112,372

$1.60

Retail Taxes

$73,118

$3.77

Site cleaning

$1,083

$0.01

Total Real Estate Taxes

$185,490

$2.07

Landscaping

$9,005

$0.10

Office Insurance

$39,549

$0.44

Pest Control

$649

$0.01

Retail Insurance

$16,060

$0.18

Repairs & Maintenance

$3,429

$0.04

Total Insurance

$55,609

$0.62

Trash / Dumpsters

$5,586

$0.06

Total CAM

$209,474

$2.34

Utilities - Water/Sewer

$7,680

$0.09

$86,585

$0.97

$209,474

$2.34

Total Recoverable Expenses

$537,157

$5.99

$86,585

$0.97

Net Operating Income

$1,972,062

$22.00

$537,157

$5.99

Management Fee

3.45%

Retail CAM

Total CAM Management Fee Total Expenses

3.45%

F I N A N C I A L A N A LY S I S

3

RE NT RO L L

Tenant

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

Suite

SQ FT

% of SQFT

Lease Dates Start

Minimum Rent

End

Lease Type

Annual

Monthly

PSF

Medical Office Building AiLife

100

2,960

3.30%

12/18

11/28

$60,680

$5,057

$20.50

Office NNN + MGMT

Texas Vein & Wellness Institute

110

3,188

3.56%

06/19

03/26

$100,752

$8,396

$31.60

Office NNN + MGMT

Airrosti Rehab Center

130

1,259

1.40%

09/17

11/27

$32,105

$2,675

$25.50

Office NNN + MGMT

CTMI Inc

140

1,434

1.60%

06/19

05/24

$32,265

$2,689

$22.50

Office NNN + MGMT

Available

150

2,784

3.11%

-

-

$0

$0

$0.00

-

Texas Institute of Pain & Spine

160

4,409

4.92%

03/16

01/29

$95,894

$7,991

$21.75

Office NNN + MGMT

Cordoba Law Firm

170

1,653

1.84%

06/22

05/27

$35,532

$2,961

$21.50

Office NNN + MGMT

Pending Tenant

2nd Floor

19,420

21.66%

-

-

$427,200

$35,600

$22.00

Office NNN + MGMT

Interim Healthcare

310

6,714

7.49%

06/20

04/28

$137,637

$11,470

$20.50

Office NNN + MGMT

Amegy Bank

320

3,672

4.10%

05/16

01/28

$116,586

$9,716

$31.75

Gross

Dynamic Arthritis Care

340

2,507

2.80%

07/17

06/32

$64,179

$5,348

$25.60

Office NNN + MGMT

STPN, Inc HCA Hosp

350

3,584

4.00%

09/21

08/26

$75,264

$6,272

$21.00

Office NNN + MGMT

Oncology Consultants

370

2,896

3.23%

03/16

02/28

$69,504

$5,792

$24.00

Office NNN + MGMT

Cobb Fendley

400

11,105

12.39%

11/19

11/26

$235,981

$19,665

$21.25

Office NNN + MGMT

Available

410

2,652

2.96%

-

-

$0

$0

$0.00

-

Total Count/GLA

13

64,801

92.3%

Available

2

5,436

7.7%

Totals

$1,483,578 $123,632

F I N A N C I A L A N A LY S I S

4

RE NT RO L L

Tenant

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

Suite

SQ FT

% of SQFT

Lease Dates Start

Minimum Rent

End

Lease Type

Annual

Monthly

PSF

Retail Building - 1910 Texas State Optical

102

1,942

2.17%

06/16

04/32

$54,764

$4,564

$28.20

Retail NNN + MGMT

Dr. Watkins DDS

104

1,575

1.76%

05/16

04/26

$44,415

$3,701

$28.20

Retail NNN + MGMT

Cardiac Wellness Clinic

106

1,410

1.57%

07/16

06/25

$35,532

$2,961

$25.20

Retail NNN + MGMT

Aphcan Diagnostics, LLC

108

1,225

1.37%

08/23

07/28

$26,460

$2,205

$21.60

Retail NNN + MGMT

Backstrong Chiropractic

110

965

1.08%

06/16

05/26

$24,897

$2,075

$25.80

Retail NNN + MGMT

Amegy Bank

112

2,575

2.87%

07/16

06/26

$64,375

$5,365

$25.00

Retail NNN + MGMT

Total Count/GLA

6

9,692

100%

Totals

$250,443

$20,870

Retail Building - 1930 LA Crawfish

150

2,500

2.79%

05/16

04/26

$65,625

$5,469

$26.25

Retail NNN + MGMT

Alliance MRI

154

3,500

3.90%

07/21

06/29

$92,400

$7,700

$26.40

Retail NNN + MGMT

Pending Tenant

156

2,520

2.81%

-

-

$65,167

$5,431

$25.86

Retail NNN + MGMT

Gear Monkey Bike Repair

158

1,200

1.34%

12/20

11/25

$26,640

$2,220

$22.20

Retail NNN + MGMT

Total Count/GLA

4

9,720

100%

Totals

$249,832

$20,819

Trinity Professional Complex - Combined Property Total Count/GLA

25

89,649

100%

Occupied

23

84,213

93.9%

Available

2

5,436

6.1%

$1,983,854

$165,321

F I N A N C I A L A N A LY S I S

5

L E A SE PROVIS ION S Tenant

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X Suite

Base Rental Increases

SQ FT Date

Renewal Options PSF

Options

Date

PSF

$21.10 $21.70 $22.30 $22.90

1 x 3-5

12/1/2023

MKT Rate

Medical Office Building AiLife

100

2,960

12/1/2024 12/1/2025 12/1/2026 12/1/2027

Texas Vein & Wellness Institute

110

3,188

6/1/2024

$32.60

1x5

4/1/2026

MKT Rate

Airrosti Rehab Center

130

1,259

12/1/2024 12/1/2025 12/1/2026

$26.25 $27.00 $27.75

-

-

-

CTMI Inc

140

1,434

-

-

-

-

-

Available

150

1,569

-

-

-

-

-

$22.50 $23.25 $24.00 $24.75

-

-

-

Texas Institute of Pain & Spine

160

4,409

01/01/2025 01/01/2026 01/01/2027 01/01/2028

Cordoba Law Firm

170

1,653

06/01/2024 06/01/2025 06/01/2026

$22.00 $22.50 $23.00

1 x 3-5

6/1/2027

MKT Rate

2nd Floor

19,420

-

-

-

-

-

$21.15 $21.80 $22.45 $23.10

-

-

-

Pending Tenant

Interim Healthcare

310

6,714

05/01/2024 05/01/2025 05/01/2026 05/01/2027

Amegy Bank

320

3,672

02/01/2025 02/01/2026 02/01/2027

$32.50 $33.25 $34.00

-

-

-

2,507

7/1/2026 7/1/2028 7/1/2030 7/1/2031

$26.60 $27.60 $28.60 $29.00

-

-

-

Dynamic Arthritis Care

340

F I N A N C I A L A N A LY S I S

6

L E A SE PROVIS ION S

Tenant

STPN, Inc HCA Hosp

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

Suite

350

Base Rental Increases

SQ FT

Renewal Options

Date

PSF

Options

Date

PSF

3,584

9/1/2024 9/1/2025

$21.50 $22.00

-

-

-

$24.50 $25.00 $25.50 $26.00

-

-

-

Oncology Consultants

370

2,896

3/1/2024 3/1/2025 3/1/2026 3/1/2027

Cobb Fendley

400

11,105

11/1/2024 11/1/2025

$21.75 $22.25

-

-

-

Available

410

2,652

-

-

-

-

-

Retail Building - 1910 Texas State Optical

102

1,942

5/1/2026 5/1/2028 5/1/2030

$29.40 $30.60 $31.80

-

-

-

Dr. Watkins DDS

104

1,575

-

-

2x5

5/1/2026 5/1/2031

MKT Rate

Cardiac Wellness Clinic

106

1,410

6/1/2024

$25.80

-

-

-

$22.20 $22.80 $23.40 $24.00

-

-

-

$27.00

-

-

-

4x5

7/1/2026 7/1/2031 7/1/2036 7/1/2041

MKT Rate

Aphcan Diagnostics, LLC

108

1,225

8/1/2024 8/1/2025 8/1/2026 8/1/2027

Backstrong Chiropractic

110

965

6/14/2024

Amegy Bank

112

2,575

7/1/2024

$26.00

F I N A N C I A L A N A LY S I S

7

L E A SE PROVIS ION S

Tenant

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

Suite

Base Rental Increases

SQ FT Date

Renewal Options PSF

Options

Date

PSF

Retail Building - 1930 LA Crawfish

150

2,500

-

-

2x5

5/1/2026 5/1/2031

MKT Rate

Alliance MRI

154

3,500

6/1/2025 6/1/2027

$27.60 $28.80

-

-

-

Pending Tenant

156

2,520

-

-

-

-

-

Gear Monkey Bike Repair

158

1,200

12/1/2024

$22.80

-

-

-

Totals

F I N A N C I A L A N A LY S I S

8

TE NA NT INF ORMAT I ON

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

DBA

Texas Vein & Wellness Institute

Locations

6 Locations

Line of Business

Texas Vein & Wellness Institute is a healthcare clinic that specializes in diagnosing and treating vein and artery disease in Houston and the surrounding area. Board-certified general surgeon and vein specialist, Peter Morgan, MD, has over 26 years of surgical experience and founded Lone Star Vein Center in 2008 prior to its acquisition by Texas Vein & Wellness Institute in 2022. Dr. Morgan’s practice has been exclusively dedicated to the diagnosis and treatment of chronic venous insufficiency. Having performed well over 20,000 endovenous enclosures, Dr. Morgan is one of the most experienced vein surgeons in the country.

DBA

Airrosti

Locations

200+ Locations

Line of Business

Airrosti providers help diagnose and treat most common musculoskeletal and joint conditions, including pain in the neck, back, shoulders, hips, elbows, knees, and feet. Our treatment has shown to be effective at helping resolve everything from headaches to plantar fasciitis. We have shown to be effective at resolving chronic back pain as we are at resolving acute sports/athletic injuries like pulls and strains, as well as repetitive stress/ wear and tear injuries like tendonitis, frozen shoulder, and carpal tunnel syndrome.

With over 200 convenient locations, in-clinic appointments can be in the following states: Ohio, Texas, Virginia, and Washington, and the District of Columbia (D.C.).

DBA

Texas Institute of Pain & Spine

Affiliated Centers

Memorial Herman Pearland Hospital & Memorial Hermann Southeast Hospital

Line of Business

Our pain management professional, Dr. J. Lance LaFleur, is an interventional pain physician who is board-certified in both anesthesiology and pain medicine by the American Board of Anesthesiology. He is also a musculoskeletal and regenerative medicine specialist, and he is certified. Dr. LaFleur completed a four-year MD/MBA program in health organization management at the Texas Tech University School of Medicine then moved to Houston, where he completed both his transitional internship and anesthesiology residency at the University of Texas Medical School.

PROPERTY DESCRIPTION

9

TE NA NT INF ORMAT I ON

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

DBA

Cordoba Law Firm, PLLC

Locations

2 Locations

Line of Business

At The Cordoba Law Firm, PLLC, our attorneys are experienced in numerous practice areas.

Whether you want to start a business, sell or purchase real estate, draft a will, or need legal counsel in a civil lawsuit, our attorneys possess the expertise you need to obtain the best results possible. We have served Brazoria County, Texas and its surrounding areas, including Alvin, Angleton, Brazoria, Clute, Danbury, Freeport, Oyster Creek, Pearland, Sweeny, and West Columbia, with pride for more than ten years. Our attorneys handle cases of all shapes and sizes: At The Cordoba Law Firm, PLLC, our attorneys are glad to provide legal services that are specifically tailored to our clients’ needs. Whether you want to discuss business formation or a contract issue, a simple deed or Will or a litigation matter, we are able to guide you through the legal process.

DBA

Interim Healthcare

Locations

320+ Locations

Line of Business

Founded in 1966, Interim HealthCare Inc. is the nation’s most experienced healthcare franchise company. At the core of this longevity and success is a network of over 300 independently owned franchisees and their commitment to providing the most compassionate and professional care available in the communities they serve.

With over 43,000 health care professionals across 42 states, Interim HealthCare provides nurses, therapists, aides and other health care personnel to approximately 173,000 people annually.

DBA

Oncology Consultants

Locations

16 Locations

Affiliated Centers

Memorial Hermann Pearland Hospital & Memorial Hermann Southeast Hospital

Line of Business

Oncology Consultants (OC) is an independent, family-led and physician-owned practice with clinics throughout South Texas. For over 40 years, we’ve been committed to delivering cutting-edge cancer treatment in a caring environment. Our approach is patient centered, which means that the needs of our patients always come first. Your well-being is our number one priority, and we ensure kind and compassionate care throughout your treatment.

PROPERTY DESCRIPTION

10

TE NA NT INF ORMAT I ON

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X DBA

CobbFendley & Associates

Locations

21 Locations

Line of Business

CobbFendley is licensed and registered to perform civil engineering and land surveying services throughout the States of Texas, Louisiana, Arkansas, Oklahoma, New Mexico, Utah, and Washington. With professional staff members who hold licenses in various states, our reach extends nationwide. CobbFendley has seen significant growth in recent years, with clients ranging from the New Mexico Department of Transportation to the Texas Facilities Commission. Ground-breaking projects for the firm include Grand Parkway, US 290 Program Management, North Tarrant Express Right-of-Way Recovery, IH-10 Corridor Utility Coordination and numerous IDIQ contracts for the Texas Department of Transportation.

DBA

Texas State Optical

Locations

126+ Locations

Line of Business

Texas State Optical was established in 1936 when the Rogers family opened the first TSO office in Beaumont, Texas. Our founders planned for TSO’s continuous growth and expansion of services, but not without first building a foundation of eye care and quality eyewear that result in loyalty and return visits by hundreds of thousands of patients over the years. When you need eye care, the first step is a comprehensive eye examination from a qualified doctor you trust. A well-trained and friendly optician associate will then help you select the eye wear that best fits the way you use your vision. With technology everchanging we use our vision, it is important that you have regular eye examinations

DBA

Amegy Bank

Locations

90 Locations

Line of Business

As part of Zions Bancorporation since 2005, Amegy Bank is strengthened by the stability and resources of one of the nation’s premier financial services companies, Zions Bancorporation. As Amegy has grown, our beginnings remind us that accessibility to your banker is important in times of both opportunity and challenge. We stay close to our clients and collaborate with them to help grow their business. We make a commitment not only to their banking needs, but also to helping guide them as they transition their business to the next generation. Through the “Community Bank Partnership,” Amegy bankers offer personalized solutions to clients by having a 360 degree view of their business and family financial needs.

PROPERTY DESCRIPTION

11

TE NA NT INF ORMAT I ON

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X DBA

LA Crawfish

Locations

20 Locations

Line of Business

We’re super proud to shout out that your local LA Crawfish serves up the absolute best boiled Crayfish! Garlic Butter and Cajun Style Crawdads are what we do best baby! We also cook delicious Shrimp and Crabs! Also, Chicken Wings, Seafood Po’Boys, Traditional and Fusion Pho Bowls, Fresh Oysters, Micheladas, Daiquiris and much more! We’re the very best you can find in Houston and San Antonio. LA Crawfish was recently published on Cooking Light (Time Magazine – The Cross-Cultural Mash-Up Award, 2013), Travel Channel, “Asian Chops” Television Series, and tons of other national publications and media outlets! Finally, stop in a LA Crawfish shop near you now and find out just what all your friends and family are raving about all of this time!

DBA

Alliance MRI

Locations

40+ Locations

Line of Business

In 2014, John Hamide,MD, an interventional radiologist, a native of New Orleans, Louisiana, and practicing diagnostic imaging on an outpatient basis, acquired his first imaging center, Baton Rouge Imaging. Capitol Imaging continued growing with the acquisition of over 16 additional imaging centers across Louisiana and Alabama from late 2015 through late 2020.

To capitalize on the rapidly growing imaging corporation, Dr. Hamide entered a partnership with Clearview Capital LP which brought a strong funding capability and organizational structure into Capitol Imaging. Most of the management team is still here today and bring over 100 years of experience with them to help expand Capitol’s footprint throughout the Gulf South.

DBA

AiLife Diagnostics

Locations

90 Locations

Line of Business

AiLife Diagnostics, an employee owned company, was founded near the Texas Medical Center in Houston, Texas with the mission to provide fast and accurate interpretation services and mining of NGS data using the expertise and proprietary tools developed in house. Our scientific and technical teams are comprised of ABMGG certified geneticists, clinicians, PhD genome scientists, bioinformatics and IT experts. We have an extensive amount of experience in analyzing and reporting tens of thousands of clinical exome cases, targeted gene panel, microarray and more. ​

PROPERTY DESCRIPTION

12

I N VE S TMENT HI GHLI GHT S

•

88,434 SF of High-Quality Medical Office and Retail Outparcel Buildings in Pearland, TX

•

Medical Tenancy: Over 60% of the currently occupied office space is leased to medical tenants.

•

Medical Corridor: Three major hospitals are in a 1-mile radius including HCA Houston Healthcare, Memorial Hermann Hospital, and Kelsey-Seybold Clinic

•

Excellent Demographics: The average household income in a 3-mile radius stands at $1263,890. The population in a 5-mile radius exceeds 190,553 people.

•

Major Frontage and Visibility: Over 600 ft of frontage on SH 288 with direct access and visibility to over 107,353 vehicles per day. Additionally, The Property is highly visible to the intersection of Shadow Creek Pkwy/McHard Rd and SH 288, which adds over 29,650 vehicles per day.

•

Rare Access Point: The Property possesses an advantageous point of ingress/egress directly on SH 288.

Many surrounding properties rely solely on back entrance points through Country Place Pkwy.

•

Shadow Creek Ranch Center (1.2 miles): H-E-B plus!, Hobby Lobby, Burlington, Academy Sports + Outdoors, Longhorn Steakhouse, McDonalds, etc.

•

Pearland Town Center (1.5 miles): DICK’S Sporting Goods, Macy’s, Dillard’s, Barnes & Noble, BJ’s Restaurant & Brewhouse, La Madeleine, etc.

•

Silverlake Village (1.5 miles): Target, Kohls, Total Wine, Ross, Marshalls, PetSmart, Ulta Beauty, Michaels, Five Below, Lane Bryant, DSW, etc.

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

PROPERTY DESCRIPTION

13

E PL A NTRINIT Y MEDI CAL OFFI CE BU I L DI N G 1 SS TI T F LOOR

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

PROPERTY DESCRIPTION

14

SIT E PL A NTRINIT Y MEDI CAL OFFI CE BU I L DI N G 2ND F LOOR

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

PROPERTY DESCRIPTION

15

SIT E PL A NTRINIT Y MEDI CAL OFFI CE B U I L DI N G 3 RD F LOOR

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

PROPERTY DESCRIPTION

16

SIT E PL A NTRINIT Y MEDI CAL OFFI CE BU I L DI N G 4TH F LOOR

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

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PROPERTY DESCRIPTION

17

Texas State Optical

Dr. Watkins DDS

Cardiac Wellness Clinic

Aphcon Diagnostics

Backstrong Chiropractic

Amegy Bank

LA Cra wfish

e MRI

Allianc

nt

nkey

g Tena

Pendin

Gear M o

S I T E PL A N TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

PROPERTY DESCRIPTION

18

A E R I AL MA P

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

SHADOW CREEK MARKETPLACE

NOLAN RYAN JUNIOR HIGH SCHOOL

28 8 SO UTH FW Y

SHADOW CREEK PKWY

VPD 29,650

SHADOW CREEK RANCH

BROADWAY ST

PEARLAND TOWN CENTER SHADOW CREEK HIGH SCHOOL

107,353 VPD

DR RONALD E MCNAIR JR HIGH SCHOOL

MCHARD RD

MARKET OVERVIEW

19

A E R I AL MA P

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

COUNTRY PLACE - 55+ RETIREMENT COMMUNITY (841 SINGLE-FAMILY HOMES)

CO

1

98 1,7

U

R NT

YP

L

W PK

Y

10 7,3 53 V

PD

D VP

M A R K E T O V E R V I E W 20

LO C AL MA P

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

MARKET OVERVIEW

21

REG IONA L MA P

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

M A R K E T O V E R V I E W 22

M A R KET S U MMARY

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

Houston, TX

OVERVIEW Houston is the most populous city in Texas and the fourth-most populous city in the U.S., with an estimated 2020 population of 2,304,580. The seat of Harris County, Houston is the principal city of the Greater Houston metropolitan area, which is the fifth most populous MSA in the country (2021 population estimate of 7,206,841). Houston has one of the fastestgrowing and most diverse populations anywhere in the world. From 2010 to 2018, Houston added 1.1 million new residents, an 18.2 percent increase, the fastest rate of population growth among the 10 most populous U.S. Metros.

The Houston region is made up of 12 unique counties, and the region’s geographic location makes it easy to move both goods and people around the globe.

Houston's strategic, central location coupled with the infrastructure of four of the country's largest ports, two international airports and major highway and rail service make this a dynamic hub for a large cross-section of industries. As these industries digitize, Houston is a hotbed of rapid technological development thanks to access to customers and expertise.

Houston’s economy has a broad industrial base in energy, manufacturing, aeronautics, and

transportation. Only New York City is home to more Fortune 500 companies. The city is also home of the Texas Medical Center, the world's largest concentration of health care and research institutions, and NASA's Johnson Space Center. The Port of Houston ranks first in the U.S. in international waterborne tonnage handled and second in total cargo tonnage handled. Houston is ranked third in the entire world in the Financial Times Cities of the Future global rankings. Houston secures the third spot for being “a reputable talent hub,” boasting five of the world’s Top 500 universities and placing second in the world in business expansion with 53 new projects between 2015 and 2020. Houston has many cultural institutions and exhibits which attract more than 7 million visitors a year to the Houston Museum District. The U.S. Bureau of Economic Analysis (BEA) estimates Houston’s gross domestic product (GDP) at $512.2 billion in 2019, ranking it as the nation’s seventh largest metro economy. The Houston region has a GDP greater than 37 states and accounts for 27.8 percent of Texas’ GDP. Once predominantly oil and gas focused, today Houston is a diverse, vibrant metro with a dynamic quality of life and a variety of growing industries.

Q U I C K S TAT S

1 3rd 4th 7th 24 st

Most-Populous City in the State of Texas Best Global Cities of the Future (Financial Times, 2020)

Most-Populous City in the United States

Largest Metro Economy in the United States

Fortune 500 Companies Call Houston Home (Fortune) M A R K E T O V E R V I E W 23

D E M OG RA PHIC STAT I ST I CS

TRI N I T Y P R O F E SSIO NAL C E NT E R - P E AR LAND, T X

3 Mile

5 Mile

10 Mile

Population

3 Mile

5 Mile

10 Mile

Households:

2010 Population

53,009

145,975

719,854

2010 Households

18,127

47,892

249,808

2023 Population

77,598

190,553

846,293

2023 Households

26,682

62,888

292,394

2028 Population Projection

81,182

196,843

863,659

2028 Household Projection

27,928

64,984

297,961

Annual Growth 2010-2023

3.60%

2.30%

1.40%

Annual Growth 2010-2023

4.10%

2.70%

1.60%

Annual Growth 2023-2028

0.90%

0.70%

0.40%

Annual Growth 2023-2028

0.90%

0.70%

0.40%

Median Age

36

35.1

35.4

Owner Occupied

22,382

49,259

189,338

Bachelor's Degree or Higher

50%

35%

32%

Renter Occupied

5,545

15,725

108,623

U.S. Armed Forces

131

214

460

Avg Household Size

2.9

3

2.8

Avg Household Vehicles

2

2

2

Total Consumer Spending

$1B

$2.2B

$9.3B

Population by Race White

33,271

88,163

434,868

Black

26,090

75,372

311,136

521

1,748

7,002

Avg Household Income

$123,890

$103,729

$92,754

15,693

21,267

76,477

Median Household Income

$102,348

$83,146

$67,658

Hawaiian & Pacific Islander

73

213

807

< $25,000

1,656

7,371

50,483

Two or More Races

1,949

3,789

16,004

$25,000 - 50,000

3,361

10,772

58,317

Hispanic Origin

17,210

61,242

297,958

$50,000 - 75,000

3,719

10,378

51,498

$75,000 - 100,000

4,303

8,970

35,333

American Indian/Alaskan Native Asian

Housing

Income

Median Home Value

$269,016

$219,040

$201,383

$100,000 - 125,000

3,215

7,062

29,673

Median Year Built

2006

2002

1986

$125,000 - 150,000

2,692

5,186

17,419

$150,000 - 200,000

4,339

7,446

23,243

$200,000+

3,397

5,703

26,427

Demographic data © CoStar 2023

M A R K E T O V E R V I E W 24

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.

Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Information About Brokerage Services Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

• A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • • Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.

• A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose: ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

• LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

exclusively listed 469.844.8880

STRIVERE.COM