Capital Commercial
Investments, Inc. (CCI) is pleased to offer an investment opportunity
in Houston, Texas. We are seeking to sell the building 711 Bay
Area. Please call us for information on are asking purchase price.
711 Bay Area Blvd. is a Class B Clear Lake, Texas office building
located in a suburban southeast Houston submarket. It lies within
the Webster City limits. Conveniently located approximately one-half
mile east of IH-45., 711 Bay Area is located within fifteen
minutes of Hobby Airport and the Lyndon B. Johnson Space Center (NASA).
Clear Lake is just 25 miles from the CBD and will benefit from the
South Belt, which recently opened to commuters that travel from Southwest
and West Houston. The South Belt provides faster access between
I-45 and I-59.
The 711 Bay
Area office building contains 102,838 net rentable square feet
and as of December 2005 is currently 78% occupied with a multi-tenant
mix. The
building was built in 1982 on a 3.768 acre site and has a six-
(6) story atrium design. Please contact us for financial
information on this building regarding the purchase price and
total capitalization.
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 1920, the Clear Lake
region sustained a 4 percent annual population growth rate.
As of 1st Quarter 2006, 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 12% with a average
rate of $15.94 PSF.
Please call us immediately if you
have any interest or to request a package.
CONTACT: Derek
George (512) 472-6990 Ext.222 or E-mail:
Dgeorge@capitalcommercial.com
711
Bay Area
