1111 Gill Ing Ham Flyer

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1111GillinGham
Su g A R LA nd, Tex A S

Rusty Tamlyn, CCIM, SIOR Senior Managing Director Tel (713) 852-3561 [email protected]

Trent Agnew Analyst Tel (713) 852-3431 [email protected]

www.hfflp.com
9 Greenway Plaza, Suite 700 • Houston, Texas 77046 • Tel (713) 852-3500 • Fax (713) 852-3490

Property Highlights
The Investment Sales Group of Holliday Fenoglio Fowler, L.P. is pleased to offer for sale the ownership’s 100% fee simple interest in 1111 Gillingham, a 489,263 square foot Class A 100% HVAC manufacturing facility built in 1995-1997 that is currently occupied by two (2) tenants with expirations in 2013 and 2019. 1111 Gillingham is located within the prestigious Sugar Land Business Park in southwest Houston, home to an impressive list of corporate users.
Address: Land Size: nRA: % of Office Space: Year Built: Parking: 1111 - 1113 gillingham - Sugar Land, Texas 77478 33.4709 acres 489,263 square feet 14.5% 1995 - Phase I (266,663 SF); 1997 - Phase II (222,600 SF) 1,176 (2.40/1,000 SF) impressive list Of cOrpOrate neighbOrs, strOng submarket Sugar Land Business Park is one of five major business parks located within Fort Bend County and is generally regarded as the most desirable of the five due to its location, amenity base, and infrastructure. As a result, a number of highprofile corporate users have developed and/or leased industrial facilities within the park, including Tramontina uSA, Baker Hughes, AmeriSource Bergen, Thermo Fisher Scientific, Schlumberger, and Ashley Furniture. Planned Community

investment hiGhliGhts
Outstanding industrial lOcatiOn 1111 gillingham is located along a high-profile street in arguably Houston’s premier industrial park, Sugar Land Business Park, a 902 acre, mixed-use, deed restricted business park near the intersection of u.S. Highway 59 and u.S. Highway 90A in the southwest suburb of Sugar Land. The park has frontage on four major thoroughfares: u.S. 90A, eldridge Road, West Airport Boulevard, and dairy Ashford Road. 1111 gillingham is located within a mile of the u.S. Highway 59 and u.S. Highway 90A intersection, providing it easy access from both surrounding residential and commercial areas, along with downtown Houston and other parts of the city. Ongoing infrastructure improvements in the area will only enhance the area’s accessibility and cement Sugar Land Business Park as the preferred industrial location within southwest Houston. cOnsiderable tenant cOmmitment 1111 gillingham was built by Suntron Corporation in 1995. Suntron occupied the entire facility until 2006, when they sold the building to the current owner. At that time, Suntron downsized by approximately one-half to its current footprint and the new owner put several protective measures in place to ensure that Suntron would remain through the lease term, which runs until March 2013. These measures include a $1.0 million “deferred Purchase Price” and two letters of credit totaling $2.0 million. This lease collateral will be assigned to the Buyer upon a sale. In 2008, Fairfieldnodal signed a long-term lease, which expires in January 2019 and moved their headquarters into the facility. Fairfield has invested over $14 million of its own capital to improve its space, including the installation of a large server room and substantial increases to the electrical capacity including six 225kVA Liebert FPCs and four Leibert FdCs. due to their considerable investment, we believe the likelihood of Fairfield vacating in the future is substantially mitigated.

developers began developing the park in 1977 and the park sold out in 2005. The entire Sugar Land industrial submarket consists of over 14 million square feet of industrial space and currently enjoys an occupancy rate of 94.6%. A number of tenants, both in Sugar Land Business Park and the larger Sugar Land industrial market, have manufacturing operations requiring 100% HVAC that would fit well with the improvements in place at 1111 gillingham. institutiOnal Ownership, new rOOf developed in the mid-1990’s, 1111 gillingham has been either owned by the user or by an institution since inception. As a result it is in remarkable physical condition and should require very little capital on a go-forward basis. The current owner is installing a new roof which will be subject to a 20-year warranty. In addition, Suntron has a 10-ton overhead bridge crane that can run almost the entire length of its space, a great feature to have if a tenant requires it. resilient industrial market Houston’s industrial market has remained steady compared with its peers across the country. At the end of the fourth quarter 2009, the city’s 272 million square feet of inventory averaged occupancy of 89.5%, with warehouse space faring even better at 90.1%. given a negligible construction pipeline of only 1.24 million square feet, the market is now poised to participate in the economic recovery currently taking shape and rental rates should show strong growth as absorption picks up, particularly in submarkets like Sugar Land, where there is very little overhang of new supply. rebOunding lOcal ecOnOmy Houston is forecast to remain one of the nation’s most robust economies. The Houston MSA added 18,200 jobs in the last three months of 2009 and several economists project employment growth of approximately 40,000 jobs in 2010. Furthermore, Moody’s economy.com recently published forecasts predicting Houston will be #1 in both employment and population growth through 2013.

1111GillinGham

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Property Highlights
po se d

Pkwy

COUNTY

Pr o

HARRIS COUNTY
George Bush Intercontinental Airport
Sam Houston Pkwy

Eas tex Frw y

SI T e

P L A N

Gran

d

MONTGOMERY LO CAT I O N

Lake Houston State Park

LIBERTY COUNTY

Pr

op

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ed

Gran

d

Lake Houston

1 1 1 1

G I L L I N G H A M
Proposed Grand Pkwy

L A N E

Hardy Toll R

G I L L I N G H A M

No

SUNTRON C O R P O R AT I O N

rth

FA I R F I E L D N O D A L

we

st

Sheldon Reservoir
ont Hw y

No

oad

Frw

rth

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Fr wy

Bear Creek Park
North
Katy Frwy

Be

aum

Loop

Ba

George Bush Park
way Westpark Toll

East Loop

Downtown
Westheimer Rd

Galleria Texas Medical Center
South
West Loop

1111 Gillingham
FORT BEND COUNTY
ut hw es tF rw y

Pasadena Frwy

San Jacinto Bay

Loop

nd

Pk

wy

So

William P. Hobby Airport
Sam Houston Tollway
South Frwy

Be

Fort

Armand Bayou Park

F lf Gu rw y

Clear Lake

Smithers Lake

GALVESTON COUNTY
Proposed Grand Pkwy

BRAZORIA COUNTY

J E S S

P I R T L E

B O U L E V A R D

1111GillinGham

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Contact Information
rusty tamlyn, ccim, siOr Senior Managing director Phone (713) 852-3561 [email protected] trent agnew Analyst Phone (713) 852-3431 [email protected]
GALLERIA CBD TEXAS MEDICAL CENTER

WEST SAM HOUS TON TOLLW AY
US 59

hOlliday fenOgliO fOwler, l.p. 9 greenway Plaza Suite 700 Houston, Texas 77046 Phone (713) 852-3500 Fax (713) 852-3490 www.hfflp.com
TRAMONTINA LAND ASHLEY FURNITURE
G IL LI N

BAKER HUGHES

TRAMONTINA
W AIRPO RT BLVD

TRAMONTINA USA HEADQUARTERS THERMO ELECTRON TRAMONTINA MANUFACTURING
GHAM LN

1111 GILLINGHAM

ELDR

ID G E

RD

© 2010 Holliday Fenoglio Fowler, L.P. HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. Holliday Fenoglio Fowler, L.P. (“HFF”) has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

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