BBVA COMPASS BANK ABSOLUTE NNN GROUND LEASE
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ABSOLUTE NNN GROUND LEASE
BBVA COMPASS BANK
HIGH INCOME | DENSE POPULATION | HOUSTON, TEXAS
FREESTANDING SINGLE TENANT INVESTMENT PROPERTY
Representative Photo
F O R M O R E I N F O R M AT I O N C O N TA C T:
Mark Drazek Local Licensee:
Senior Vice President Kevin Holland
Net Lease Property Group Vice President
+1 407 839 3123 Retail Investment Sales
mark.drazek@cbre.com +1 713 787 1949
kevin.holland@cbre.com
CBRE, Inc. | Licensed Real Estate Broker
CONFIDENTIAL MEMORANDUM & DISCLAIMER
This Offering Memorandum was prepared by CBRE, Inc. (“Broker”) solely for the use of prospective purchasers of BBVA Compass Bank – Highway 6 at W. Bellfort Avenue,
Houston, Texas (the “Property”). Neither the Broker nor the owner of the Property (“Owner”) makes any representation or warranty, expressed or implied, as to the completeness or
accuracy of the material contained in the Offering Memorandum.
Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the time this Offering Memorandum or
the financial statements therein were made by Broker and not by Owner and are based upon assumptions or events beyond the control of Broker and Owner, and therefore may be
subject to variation. Other than historical revenue and operating expense figures for the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any
income or expense figures, budgets, or projections regarding the Property. Prospective purchasers of the Property are advised and encouraged to conduct their own comprehensive
review and analysis of the Property.
The Offering Memorandum is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right, at their sole discretion, to reject
any or all expressions of interest or offers to purchase the Property, and expressly reserve the right at their sole discretion, to terminate discussions with any entity at any time with
or without notice. The owner shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless
and until such offer for the Property is approved by owner pursuant to its Finance Committee authorities and the signature of the Vice President or Owner is affixed to a Real Estate
BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
Purchase Agreement prepared by Owner. This Offering Memorandum is confidential. By accepting the Offering Memorandum, you agree (i) that you will hold and treat the Offering
Memorandum and its contents in the strictest of confidence, (ii) that you will not photocopy or duplicate any part of the Offering Memorandum, (iii) that you will not disclose the
Offering Memorandum or any of its contents to any other entity without the prior written authorization of the Owner, and (iv) that you will not use the Offering Memorandum in any
fashion or manner detrimental to the Owner or Broker.
© 2014 CBRE, Inc. We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or
representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without
notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and
legal advisors should conduct your own investigation of the property and transaction. Licensed Real Estate Broker.
CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document
are the property of their respective owners.
Disclaimer
EXECUTIVE SUMMARY
CBRE is pleased to present this long Price: $4,550,000
term absolute NNN BBVA Compass
Annual Rent: $216,205
Bank ground lease located in
Houston, TX. The property is located in a high income densely populated Cap Rate: 4.75%
sub-market directly across from a Home Depot and sits on the hard Tenant: Compass Bank dba BBVA Compass
corner signalized intersection in front of a new Aldi Supermarket. The Rental Increases: 10% every 5 years through January 2028 then
lease has 18 years remaining with fixed rental increases and no landlord FMV
management obligations. BBVA Compass is contractually obligated to
Lease Term: 18 Years remaining
build their branch and be open by October 11, 2016.
Options: (3) 5-year options at FMV
Rent Commencement: January 29, 2008
Landlord Obligations: None – Absolute NNN
BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
INVESTMENT HIGHLIGHTS:
Existing Financing: No debt to assume
• Long term NNN lease Land Size: 1.46± Acres
• Investment grade credit – S&P: BBB Year Built: Tenant is contractually obligated to build and be
• No landlord management obligations open by October 11, 2016.
• Fixed rental increases
• Dense high income population
• Texas has NO STATE INCOME TAX
2014 Demographics 1 mile radius 3 mile radius 5 mile radius
Est. Population 18,226 132,189 319,344
Growth 2010-2014 11.54% 8.19% 7.22%
Growth 2014-2019 12.26% 9.65% 8.69%
Est. Avg. Household Income $86,904 $79,291 $72,327
Executive Summary
Representative Photo
1
Aerial Photographs BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
AERIAL PHOTOGRAPHS
W. Be
llfort
Ave
2
Hwy 6
New Retail
Burney Rd
Aerial Photographs BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
Bisso
nn
e
t St
AERIAL PHOTOGRAPHS
W. Bellfort Ave
Hwy 6
3
Burney Rd
New Retail
Old Richmond Rd
Site Plan BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
SITE PLAN
4Property Locator Maps BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
PROPERTY LOCATOR MAPS
5Property Locator Maps BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
PROPERTY LOCATOR MAPS
6Property Locator Maps BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
PROPERTY LOCATOR MAPS
7DEMOGRAPHICS
1 mile radius 3 mile radius 5 mile radius
2014 Estimated Population 18,226 132,189 319,344
2019 Projected Population 20,461 144,944 347,087
2010 Census Population 16,340 122,180 297,837
2000 Census Population 8,655 83,653 226,526
Growth 2010-2014 11.54% 8.19% 7.22%
Growth 2014-2019 12.26% 9.65% 8.69%
2014 Estimated Households 5,267 39,252 100,896
2014 Est. Average Household Income $86,904 $79,291 $72,327
2019 Prj. Average Household Income $96,604 $87,879 $79,481
2000 Cen. Avg. Household Income $67,718 $68,518 $63,788
2014 Est. Average Household Size 3.51 3.36 3.12
2014 Est. Median Household Income $69,780 $63,391 $53,675
2019 Prj. Median Household Income $77,138 $69,394 $58,320
BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
2000 Cen. Median Household Income $58,607 $57,759 $48,687
2014 Estimated Median Age 33.47 34.39 33.95
2014 Estimated Average Age 34.03 35.02 34.90
2014 Estimated Males 8,997 64,448 156,785
- Males Median Age 31.90 32.52 32.54
- Males Average Age 33.31 34.04 33.90
2014 Estimated Females 9,229 67,741 162,560
- Females Median Age 34.85 36.01 35.29
- Females Average Age 34.70 35.90 35.73
2014 Estimated Population by Race and Origin 18,226 132,189 319,344
- White Population 4,813 43,890 114,467
- Black Population 3,009 30,654 76,797
- Asian Population 7,193 35,998 72,008
- Pacific Islander Population 12 65 169
- American Indian and Alaska Native 121 671 1,867
- Other Race Population 2,288 15,764 41,600
- Two or More Races Population 790 5,147 12,437
- Hispanic Population 5,183 41,429 111,593
- White Non-Hispanic Population 2,322 21,790 54,252
2014 Est. Median Housing Value $140,700 $140,830 $139,524
2014 Est. Average Housing Value $156,616 $154,930 $164,579
Active Postal Delivery Counts 4,877 37,916 101,632
Possible Postal Delivery Counts 4,961 38,674 104,077
Employees 1,795 21,394 122,286
Demographics
Establishments 278 2,677 11,062
8TENANT INFORMATION
BBVA Compass www.bbva.com
S&P Rating: BBB | Stable
BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose lead subsidiary, BBVA Compass,
operates 673 branches, including 342 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38
in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass
ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the
largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of
the leading small business lenders by the Small Business Administration and recently earned the top ranking with
customers in American Banker’s 2014 annual reputation survey of the top 25 largest U.S. retail banks.
BBVA Compass Bank – Hwy 6 at W. Bellfort Ave., Houston, TX
BBVA Compass Bancshares Inc., is a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a
customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is
the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of
the United States. Its diversified business is geared toward high-growth markets and relies on technology as a
key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters
financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity,
a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More
information about the BBVA Group can be found at www.bbva.com.
Tenant Information
9ABSOLUTE NNN GROUND LEASE
BBVA COMPASS BANK
HIGH INCOME | DENSE POPULATION | HOUSTON, TEXAS
FREESTANDING SINGLE TENANT INVESTMENT PROPERTY
Representative Photo
F O R M O R E I N F O R M AT I O N C O N TA C T:
Mark Drazek Local Licensee:
Senior Vice President Kevin Holland
Net Lease Property Group Vice President
+1 407 839 3123 Retail Investment Sales
mark.drazek@cbre.com +1 713 787 1949
kevin.holland@cbre.com
CBRE, Inc. | Licensed Real Estate BrokerYou can also read
