INVESTMENT SUMMARY:

Capital Commercial Investments (CCI) is pleased to offer an investment opportunity in the greater Houston area.   Please call to request our asking price for the building 18096 Kings Row.   Kings Row is located at 18090-18096 Kings Row and as of March 2005 is 76% occupied. The site is located between South Highway 3 and El Camino Real/Egret Bay Boulevard, just south of Nasa Road One.

Easy access to the site is by way of I-45 South from the Houston central business district to Nasa Road 1,then east along Nasa Road 1 across SH-3 to Kings Row, then south along Kings Row to the office building site.  The building sits on 2 tracts of land totaling 36,100 square feet of land.  The site has approximately 140 feet of frontage along the west line of Kings Row.  All public utilities are available from the city of Webster.  The property is restricted by zoning ordinances to C-2 commercial usages.

The surrounding neighborhood represents a mixture of uses. Approximately 90% of the areas surrounding the site is built-up.  Immediately north of the property is a Burger King fast food restaurant, an automatic car wash and other properties fronting Nasa Road One.  Immediately east of the property is a Quality Inn Motel.  South of the property is a town home complex and a residential neighborhood.  West of the property is another commercial building and residential development. 

Economic expansion within the three major employment centers in the Clear Lake area (Bayport Industrial Project, NASA, and tourism, specifically water-related recreation) has fueled demand for additional housing and ancillary commercial facilities in the area.  Clear Lake enjoys a highly diversified, balanced economic structure with a strong base of aerospace, high-tech, petrochemical, commercial fishing and boating industries.  The Clear Lake area has a population of over 200,000 residents encompassing over 300 square miles.  It is predicted to continue to grow at an annual rate of 1.8% for the next five years, verses Texas’s annual population growth of 1.6%.  From 1970 to 2000, the Clear Lake region sustained a 4 percent annual population growth rate.

As of 1st Quarter 2005, the Clear Lake submarket consists of 70 office buildings with over 4.3 million square feet of inventory.  The submarket’s overall vacancy level is 16% with a average rate of $15.94 PSF.

This opportunity represents an excellent investment for the following reasons: 

• Opportunity to purchase Office Condominiums at $52 PSF which is below the current replacement cost of approximately $80 PSF.

Please call us immediately if you have any interest or to request a package. 
CONTACT:  Derek George (713) 621-7300 or E-mail: Dgeorge@capitalcommercial.com

Clear Lake Submarket Aerial

Additional Aerial View

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