Crossing Killeen
Killeen Crossing 902 W. Cent ra l Expressway • Killee n, Te x a s
Executive Summary
Contact Information
Investment Sales Ryan West
Coler Yoakam
Managing Director
Director
(713) 852-3535
(469) 232-1982
[email protected]
[email protected]
Matt Berry Analyst (713) 852-3540 [email protected]
For Financing Inquiries Kelly Layne Associate Director (713) 852-3513 [email protected]
Investment Merits Name:
Killeen Crossing 902 W. Central Expressway Killeen, Bell County, Texas 76541
Asset Summary
LOCATION Southeast Quadrant of W. Central Expressway (U.S. Highway 190) and Fort Hood Street (Highway 195) YEAR BUILT
1995 and 2011 (Addition)
The Property is 100% leased to Gold’s Gym, The University of Phoenix and CentryLink. Gold’s Gym has anchored the center since 2006 and currently leases 66% of the total GLA. Gold’s Gym International is a privately held company with more than 700 locations in 42 states and 30 countries. The University of Phoenix leases an additional 29% of the total GLA and doubled the size of their space in 2011. The university has 112 campuses worldwide and is a wholly owned subsidiary of Apollo Group Inc.
OCCUPANCY 100% PARKING
353 Spaces (5.84 per 1000 SF of GLA)
TOTAL GLA
60,438 SF
LAND SIZE
7.04 Acres
DEBT
Available for New Market Rate Financing
PRICE
Market Price
CAP RATE
Market Cap Rate Tenant Summary
Demographic Snapshot
POPULATION 2018 Projection 2013 Estimate 2010 Census 2000 Census Growth 2013-2018 Growth 2010-2013 Growth 2000-2010 2013 Est. Average Household Income 2013 Est Median Household Income
1 Mile 14,511 14,062 13,844 12,676 3.19% 1.57% 9.21% $47,208 $38,299
Square Feet 39,974 10,000 2,540 7,924 60,438 0 60,438
3 Mile 100,831 93,894 90,030 59,279 7.39% 4.29% 51.88% $51,021 $43,011
5 Mile 174,468 160,634 152,615 93,936 8.61% 5.25% 62.47% $53,783 $46,162
Built in 1995 and originally an Albertson Grocery Store – the asset is ideally positioned with great exposure to major area thoroughfares. U.S. Highway 190 has over 81,000 cars per day traveling this major freeway while Fort Hood Street boasts an additional 28,000 cars per day. The asset has excellent visibility to both thoroughfares which is enhanced by a large monument sign located directly on U.S. Highway 190. The site also boasts great access from curb cuts along Fort Hood Street, the U.S. Highway 190 frontage road and Taylor Boulevard. Killeen Crossing benefits from its proximity to the Fort Hood Army post which had an economic impact of $25.3 billion in Texas during fiscal 2011. The Department of Defense continues to affirm the importance of Fort Hood to the U.S. Military with the construction of the new Carl R. Darnell Army Medical Center on a 72 acre tract within the cantonment. The $534 million project at its completion in 2015 will comprise 947,000 square feet and serve 170,000 personnel and family members in a 25 mile radius. Within the Property’s three mile trade area, the current population exceeds 93,000 people with an additional 7.39% growth projected by 2018. In addition the retail market has experience over 890,000 square feet of absorption since 2009 bringing the total vacancy factor down to 4.2%.
E X E CUTIV E S UMMARY
Tenant Gold's Gym University of Phoenix CenturyLink University of Phoenix Total Occupied Space Vacant Space TOTAL GLA
HFF, L.P. (“HFF”), on behalf of the Owner, is pleased to exclusively offer Killeen Crossing (the “Property”), a 60,438 square-foot retail center located in Killeen, Texas. Killeen Crossing is located on the southeast corner of U.S. Highway 190 and Fort Hood Street (HWY 195), two of the most heavily traveled thoroughfares in the trade area. The center offers investors a well located, stable asset with 95.8% of the total GLA leased through 2021.
Investment Highlights • Ideally Positioned along Area’s Major Thoroughfares with Excellent Visibility and Located at a Signalized Intersection with Oversized Monument Signage • 95.8% of Total GLA Leased Through 2021 and additional Income from Future Contractual Rent Bumps • Close Proximity to Downtown Killeen and Fort Hood Army Post • Fort Hood is an Economic Driver for Killeen Crossing as its Local Payroll to Active Duty Military Personnel and Civilian Workers Exceeded $3 Billion in 2011 • Over 93,000 Residents within a 3 Mile Radius with 7.39% Growth Projected by 2018 • The Department of Defense Continues to Invest in the Nation’s Largest Armed Forces Training and Development Facility (Fort Hood) • Brand New Roof for the Majority of the Building
K i l l ee n C r o ss i n g
1
Site Plan Tenant Gold's Gym
39,974
University of Phoenix
10,000
CenturyLink
2,540
University of Phoenix
7,924
Total Occupied Space
U
. S
.
H
i g
h
w
a
y
1
9
0
Vacant Space 1 9 5
Square Feet
0 60,438
S t a t e
H i g h w a y
TOTAL GLA
60,438
Executive Summary
r T a y l o
v a r d B o u l e
K i l l ee n C r o ss i n g
3
Killeen Crossing Aerial
N
TO
PER
S
HO RT FO
190
SHI
OD
RT
OD
Executive Summary
HWY
FO
HO
NG
DR
ST
K i l l ee n C r o ss i n g
5
Location Map/Demographics
77
Valley Mills Shive
36
Bellmead
WACO
Crawford
84
84
Evant
Gatesville
South Mountain
Oglesby
Lorena
Flat
Golinda
Fort Hood Military Base
Rosebud
190
Killeen Crossing Salado
281
Burnet
190
Granger
Balcones Canyonlands National Wildlife Refuge
Serenada Weir
Rockdale Thorndale
Leander Brushy Creek
Cedar Park Logo Vista
Hutto
ROUND ROCK
Wells Branch
Lost Creek
AUSTIN
Dime Box
Elgin
290
1
Garfield San Leanna
Mountain City
Lexington
Pflugerville Manor
Woodcreek
77
Jollyville
Hudson Bend
290
Thrall
Taylor
Lakeway
Dripping Springs
Milano
GEORGETOWN
Marble Falls
290
Cameron
Bartlett
Liberty Hill
71
Buckholts
Jarrell
183
Bertram
Wyldwood Mustang Ridge
Niederwald
3 Mile
5 Mile
14,511
100,831
174,468
2013 Estimate
14,062
93,894
160,634
2010 Census
13,844
90,030
152,615
2000 Census
12,676
59,279
93,936
Growth 2013-2018
3.19%
7.39%
8.61%
Growth 2010-2013
1.57%
4.29%
5.25%
Growth 2000-2010
9.21%
51.88%
62.47%
White Alone
53.16%
49.10%
48.50%
Black or African American Alone
24.89%
29.46%
30.47%
Amer. Indian and Alaska Native Alone
0.97%
0.94%
0.90%
Asian Alone
3.90%
3.61%
3.67%
Native Hawaiian and Other Pac. Isl. Alone
1.45%
1.60%
1.54%
Some Other Race Alone
8.40%
8.46%
8.04%
Two or More Races
7.22%
6.82%
6.89%
Not Hispanic or Latino
75.32%
75.49%
76.58%
Hispanic or Latino:
24.68%
24.06%
23.42%
2013 Est. Household by Household Income Rogers
Holland Florence
1 Mile
2018 Projection
Circle D-KC Estates Bastrop
290
Giddings
5,712
33,609
56,101
CY HHs, Inc < $15,000
15.27%
13.70%
12.17%
CY HHs, Inc $15,000 - $24,999
13.03%
11.67%
10.01%
CY HHs, Inc $25,000 - $34,999
17.30%
14.09%
13.64%
CY HHs, Inc $35,000 - $49,999
19.99%
19.74%
19.07%
CY HHs, Inc $50,000 - $74,999
20.76%
22.48%
24.16%
CY HHs, Inc $75,000 - $99,999
6.55%
10.49%
12.04%
CY HHs, Inc $100,000 - $124,999
4.15%
4.00%
4.53%
CY HHs, Inc $125,000 - $149,999
1.09%
1.81%
2.23%
CY HHs, Inc $150,000 - $199,999
0.95%
1.25%
1.47%
CY HHs, Inc $200,000 - $249,999
0.28%
0.26%
0.26%
CY HHs, Inc $250,000 - $499,999
0.40%
0.33%
0.30%
CY HHs, Inc $500,000+
0.25%
0.18%
0.14%
2013 Est. Average Household Income
$47,208
$51,021
$53,783
2013 Est Median Household Income
$38,299
$43,011
$46,162
2013 Average Household Size
2.46
2.65
2.74
2013 Est Tenure of Occupied Housing Units
5,712
33,609
56,101
Owner Occupied
33.93%
36.96%
43.48%
Renter Occupied
66.07%
63.04%
56.52%
Executive Summary
TEMPLE
Killeen-Fort Hood Regional Airport
183
Marlin
Lott
FORT HOOD KILLEEN Kempner
190
6
Bruceville-Eddy
Moody
Lampasas
Riesel
Robinson
Hewitt
McGregor
Mart
Halls burg
Woodway
Population
21 Smithville
K i l l ee n C r o ss i n g
7
Killeen Economy and Retail Market Overview K I LLEEN RETA I L MARKET STAT I ST I C S The Killeen-Temple-Fort Hood retail market since 2009 has experienced total positive absorptions of 893,605 square feet dropping the vacancy rate from 9.6% to the current rate of 4.2%. Existing Inventory
Vacancy
Net Absorption
Deliveries
UC Inventory
Quoted Rates
# Blds
Total GLA Direct SF
2012 4q
1,378
13,141,299
545,376
545,376 4.2%
79,394
1
7,628
2
11,000
$9.90
2012 3q
1,377
13,133,671
617,142
617,142 4.7%
56,362
0
0
2
15,628
$9.43
2012 2q
1,377
13,133,671
673,504
673,504 5.1%
110,672
1
4,680
2
15,628
$9.03
2012 1q
1,376
13,128,991
779,496
779,496 5.9%
102,977
0
0
2
12,680
$9.07
2011 4q
1,376
13,128,991
881,672
882,473 6.7%
123,667
0
0
2
12,680
$9.25
2011 3q
1,376
13,128,991 1,005,339 1,006,140 7.7%
50,508
1
16,000
1
8,000
$8.89
2011 2q
1,375
13,112,991 1,037,359 1,040,648 7.9%
128,163
2
10,944
2
24,000
$9.17
2011 1q
1,373
13,102,047 1,149,578 1,157,867 8.8%
(91,799)
0
0
4
34,944
$9.12
2010 4q
1,373
13,102,047 1,058,580 1,066,068 8.1%
57,698
2
26,500
2
10,944
$9.04
2010 3q
1,371
13,075,547 1,088,978 1,097,266 8.4%
(12,100)
0
0
3
30,489
$8.96
2010 2q
1,371
13,075,547 1,071,144 1,085,166 8.3%
(31,734)
1
8,400
2
26,500
$8.96
2010 1q
1,370
13,067,147 1,031,010 1,045,032 8.0%
135,956
3
23,392
2
16,800
$8.92
2009 4q
1,367
13,043,755 1,143,574 1,157,596 8.9%
183,841
1
96,645
4
31,792
$9.34
corridor, Killeen is consistently rated as one of the top economies in the nation. The Killeen-
2009 3q
1,366
12,947,110 1,228,268 1,244,792 9.6%
(41,820)
2
11,990
4
120,037
$9.74
Temple-Fort Hood Metropolitan Statistical Area (MSA) has an estimated population of nearly
2009 2q
1,364
12,935,120 1,174,458 1,190,982 9.2%
666
1
5,000
3
108,635
$9.63
380,000 people. Bolstered by the dynamic and growing presence of Fort Hood, the greater
2009 1q
1,363
12,930,120 1,174,542 1,186,648 9.2%
(113,254)
8
45,847
4
113,635
$9.20
The City of Killeen is located in Bell County about 60 miles northwest of Austin and 60 miles southwest of Waco, adjacent to Fort Hood military complex. Killeen has seen an outstanding amount of growth since 2000, including an increase of 49% of new jobs and corresponding increase of 47% in the population. Located ideally in the country’s fastest-growing economic
Killeen region has experienced tremendous growth that will last well into the future.
Total SF
Vac %
# Blds Total GLA # Blds
Total GLA
Source: CoStar Property®
The Fort Hood military complex had an economic impact of $25.3 billion in Texas during
Existing Inventory
Vacancy
# Blds
Total SF
YTD Net YTD Under Absorption Deliveries Const SF
Quoted Rates
the fiscal 2011, according to a new analysis released by Texas Comptroller Susan Combs.
Market
According to the analysis, 68,942 jobs were directly attributed to Fort Hood operations in fiscal
Copperas/SW Coryell Cnty
221
1,541,643
62,715
62,715
4.1%
8,161
0
0
$8.42
2011, up from about 67,000 jobs in fiscal 2007. Employees at Fort Hood consist of active duty
Downtown Killeen
158
673,902
9,792
9,792
1.5%
39,183
0
0
$9.19
military, federal civilian worker, contract personnel and Killeen Independent School District
Greater Killeen
705
6,388,770
163,255
163,255
2.6%
195,103
0
11,000
$9.59
workers. In addition, there are 79,454 family members supported by these jobs. Fort Hood was indirectly responsible for an additional 214,344 jobs throughout the state. The billions of dollars the federal government has recently invested in Fort Hood provide a stable and longterm economic growth climate and a solid investment plan for the future.
Executive Summary
Period
Total GLA Direct SF
Vac %
Lampasas County
59
430,111
34,490
34,490
8.0%
32,108
4,680
0
$6.81
Temple
235
4,106,873
275,124
275,124
6.7%
74,850
7,628
0
$10.67
Totals
1,378
13,141,299
545,376
545,376
4.2%
349,405
12,308
11,000
$9.90
Source: CoStar Property®
K i l l ee n C r o ss i n g
7
O f f e r e d E x c l u s i v e ly B y
Investment Sales Ryan West
Coler Yoakam
Managing Director
Director
(713) 852-3535
(469) 232-1982
[email protected]
[email protected]
9 Greenway Plaza Suite 700
Matt Berry
Houston Texas 77046
Analyst
Phone (713) 852-3500
(713) 852-3540 [email protected]
Fax (713) 852-3490 www.hfflp.com
For Financing Inquiries Kelly Layne Associate Director (713) 852-3513 [email protected]
Copyright 2013 Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales and commercial loan servicing 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.
Executive Summary
Contact Information
Investment Sales Ryan West
Coler Yoakam
Managing Director
Director
(713) 852-3535
(469) 232-1982
[email protected]
[email protected]
Matt Berry Analyst (713) 852-3540 [email protected]
For Financing Inquiries Kelly Layne Associate Director (713) 852-3513 [email protected]
Investment Merits Name:
Killeen Crossing 902 W. Central Expressway Killeen, Bell County, Texas 76541
Asset Summary
LOCATION Southeast Quadrant of W. Central Expressway (U.S. Highway 190) and Fort Hood Street (Highway 195) YEAR BUILT
1995 and 2011 (Addition)
The Property is 100% leased to Gold’s Gym, The University of Phoenix and CentryLink. Gold’s Gym has anchored the center since 2006 and currently leases 66% of the total GLA. Gold’s Gym International is a privately held company with more than 700 locations in 42 states and 30 countries. The University of Phoenix leases an additional 29% of the total GLA and doubled the size of their space in 2011. The university has 112 campuses worldwide and is a wholly owned subsidiary of Apollo Group Inc.
OCCUPANCY 100% PARKING
353 Spaces (5.84 per 1000 SF of GLA)
TOTAL GLA
60,438 SF
LAND SIZE
7.04 Acres
DEBT
Available for New Market Rate Financing
PRICE
Market Price
CAP RATE
Market Cap Rate Tenant Summary
Demographic Snapshot
POPULATION 2018 Projection 2013 Estimate 2010 Census 2000 Census Growth 2013-2018 Growth 2010-2013 Growth 2000-2010 2013 Est. Average Household Income 2013 Est Median Household Income
1 Mile 14,511 14,062 13,844 12,676 3.19% 1.57% 9.21% $47,208 $38,299
Square Feet 39,974 10,000 2,540 7,924 60,438 0 60,438
3 Mile 100,831 93,894 90,030 59,279 7.39% 4.29% 51.88% $51,021 $43,011
5 Mile 174,468 160,634 152,615 93,936 8.61% 5.25% 62.47% $53,783 $46,162
Built in 1995 and originally an Albertson Grocery Store – the asset is ideally positioned with great exposure to major area thoroughfares. U.S. Highway 190 has over 81,000 cars per day traveling this major freeway while Fort Hood Street boasts an additional 28,000 cars per day. The asset has excellent visibility to both thoroughfares which is enhanced by a large monument sign located directly on U.S. Highway 190. The site also boasts great access from curb cuts along Fort Hood Street, the U.S. Highway 190 frontage road and Taylor Boulevard. Killeen Crossing benefits from its proximity to the Fort Hood Army post which had an economic impact of $25.3 billion in Texas during fiscal 2011. The Department of Defense continues to affirm the importance of Fort Hood to the U.S. Military with the construction of the new Carl R. Darnell Army Medical Center on a 72 acre tract within the cantonment. The $534 million project at its completion in 2015 will comprise 947,000 square feet and serve 170,000 personnel and family members in a 25 mile radius. Within the Property’s three mile trade area, the current population exceeds 93,000 people with an additional 7.39% growth projected by 2018. In addition the retail market has experience over 890,000 square feet of absorption since 2009 bringing the total vacancy factor down to 4.2%.
E X E CUTIV E S UMMARY
Tenant Gold's Gym University of Phoenix CenturyLink University of Phoenix Total Occupied Space Vacant Space TOTAL GLA
HFF, L.P. (“HFF”), on behalf of the Owner, is pleased to exclusively offer Killeen Crossing (the “Property”), a 60,438 square-foot retail center located in Killeen, Texas. Killeen Crossing is located on the southeast corner of U.S. Highway 190 and Fort Hood Street (HWY 195), two of the most heavily traveled thoroughfares in the trade area. The center offers investors a well located, stable asset with 95.8% of the total GLA leased through 2021.
Investment Highlights • Ideally Positioned along Area’s Major Thoroughfares with Excellent Visibility and Located at a Signalized Intersection with Oversized Monument Signage • 95.8% of Total GLA Leased Through 2021 and additional Income from Future Contractual Rent Bumps • Close Proximity to Downtown Killeen and Fort Hood Army Post • Fort Hood is an Economic Driver for Killeen Crossing as its Local Payroll to Active Duty Military Personnel and Civilian Workers Exceeded $3 Billion in 2011 • Over 93,000 Residents within a 3 Mile Radius with 7.39% Growth Projected by 2018 • The Department of Defense Continues to Invest in the Nation’s Largest Armed Forces Training and Development Facility (Fort Hood) • Brand New Roof for the Majority of the Building
K i l l ee n C r o ss i n g
1
Site Plan Tenant Gold's Gym
39,974
University of Phoenix
10,000
CenturyLink
2,540
University of Phoenix
7,924
Total Occupied Space
U
. S
.
H
i g
h
w
a
y
1
9
0
Vacant Space 1 9 5
Square Feet
0 60,438
S t a t e
H i g h w a y
TOTAL GLA
60,438
Executive Summary
r T a y l o
v a r d B o u l e
K i l l ee n C r o ss i n g
3
Killeen Crossing Aerial
N
TO
PER
S
HO RT FO
190
SHI
OD
RT
OD
Executive Summary
HWY
FO
HO
NG
DR
ST
K i l l ee n C r o ss i n g
5
Location Map/Demographics
77
Valley Mills Shive
36
Bellmead
WACO
Crawford
84
84
Evant
Gatesville
South Mountain
Oglesby
Lorena
Flat
Golinda
Fort Hood Military Base
Rosebud
190
Killeen Crossing Salado
281
Burnet
190
Granger
Balcones Canyonlands National Wildlife Refuge
Serenada Weir
Rockdale Thorndale
Leander Brushy Creek
Cedar Park Logo Vista
Hutto
ROUND ROCK
Wells Branch
Lost Creek
AUSTIN
Dime Box
Elgin
290
1
Garfield San Leanna
Mountain City
Lexington
Pflugerville Manor
Woodcreek
77
Jollyville
Hudson Bend
290
Thrall
Taylor
Lakeway
Dripping Springs
Milano
GEORGETOWN
Marble Falls
290
Cameron
Bartlett
Liberty Hill
71
Buckholts
Jarrell
183
Bertram
Wyldwood Mustang Ridge
Niederwald
3 Mile
5 Mile
14,511
100,831
174,468
2013 Estimate
14,062
93,894
160,634
2010 Census
13,844
90,030
152,615
2000 Census
12,676
59,279
93,936
Growth 2013-2018
3.19%
7.39%
8.61%
Growth 2010-2013
1.57%
4.29%
5.25%
Growth 2000-2010
9.21%
51.88%
62.47%
White Alone
53.16%
49.10%
48.50%
Black or African American Alone
24.89%
29.46%
30.47%
Amer. Indian and Alaska Native Alone
0.97%
0.94%
0.90%
Asian Alone
3.90%
3.61%
3.67%
Native Hawaiian and Other Pac. Isl. Alone
1.45%
1.60%
1.54%
Some Other Race Alone
8.40%
8.46%
8.04%
Two or More Races
7.22%
6.82%
6.89%
Not Hispanic or Latino
75.32%
75.49%
76.58%
Hispanic or Latino:
24.68%
24.06%
23.42%
2013 Est. Household by Household Income Rogers
Holland Florence
1 Mile
2018 Projection
Circle D-KC Estates Bastrop
290
Giddings
5,712
33,609
56,101
CY HHs, Inc < $15,000
15.27%
13.70%
12.17%
CY HHs, Inc $15,000 - $24,999
13.03%
11.67%
10.01%
CY HHs, Inc $25,000 - $34,999
17.30%
14.09%
13.64%
CY HHs, Inc $35,000 - $49,999
19.99%
19.74%
19.07%
CY HHs, Inc $50,000 - $74,999
20.76%
22.48%
24.16%
CY HHs, Inc $75,000 - $99,999
6.55%
10.49%
12.04%
CY HHs, Inc $100,000 - $124,999
4.15%
4.00%
4.53%
CY HHs, Inc $125,000 - $149,999
1.09%
1.81%
2.23%
CY HHs, Inc $150,000 - $199,999
0.95%
1.25%
1.47%
CY HHs, Inc $200,000 - $249,999
0.28%
0.26%
0.26%
CY HHs, Inc $250,000 - $499,999
0.40%
0.33%
0.30%
CY HHs, Inc $500,000+
0.25%
0.18%
0.14%
2013 Est. Average Household Income
$47,208
$51,021
$53,783
2013 Est Median Household Income
$38,299
$43,011
$46,162
2013 Average Household Size
2.46
2.65
2.74
2013 Est Tenure of Occupied Housing Units
5,712
33,609
56,101
Owner Occupied
33.93%
36.96%
43.48%
Renter Occupied
66.07%
63.04%
56.52%
Executive Summary
TEMPLE
Killeen-Fort Hood Regional Airport
183
Marlin
Lott
FORT HOOD KILLEEN Kempner
190
6
Bruceville-Eddy
Moody
Lampasas
Riesel
Robinson
Hewitt
McGregor
Mart
Halls burg
Woodway
Population
21 Smithville
K i l l ee n C r o ss i n g
7
Killeen Economy and Retail Market Overview K I LLEEN RETA I L MARKET STAT I ST I C S The Killeen-Temple-Fort Hood retail market since 2009 has experienced total positive absorptions of 893,605 square feet dropping the vacancy rate from 9.6% to the current rate of 4.2%. Existing Inventory
Vacancy
Net Absorption
Deliveries
UC Inventory
Quoted Rates
# Blds
Total GLA Direct SF
2012 4q
1,378
13,141,299
545,376
545,376 4.2%
79,394
1
7,628
2
11,000
$9.90
2012 3q
1,377
13,133,671
617,142
617,142 4.7%
56,362
0
0
2
15,628
$9.43
2012 2q
1,377
13,133,671
673,504
673,504 5.1%
110,672
1
4,680
2
15,628
$9.03
2012 1q
1,376
13,128,991
779,496
779,496 5.9%
102,977
0
0
2
12,680
$9.07
2011 4q
1,376
13,128,991
881,672
882,473 6.7%
123,667
0
0
2
12,680
$9.25
2011 3q
1,376
13,128,991 1,005,339 1,006,140 7.7%
50,508
1
16,000
1
8,000
$8.89
2011 2q
1,375
13,112,991 1,037,359 1,040,648 7.9%
128,163
2
10,944
2
24,000
$9.17
2011 1q
1,373
13,102,047 1,149,578 1,157,867 8.8%
(91,799)
0
0
4
34,944
$9.12
2010 4q
1,373
13,102,047 1,058,580 1,066,068 8.1%
57,698
2
26,500
2
10,944
$9.04
2010 3q
1,371
13,075,547 1,088,978 1,097,266 8.4%
(12,100)
0
0
3
30,489
$8.96
2010 2q
1,371
13,075,547 1,071,144 1,085,166 8.3%
(31,734)
1
8,400
2
26,500
$8.96
2010 1q
1,370
13,067,147 1,031,010 1,045,032 8.0%
135,956
3
23,392
2
16,800
$8.92
2009 4q
1,367
13,043,755 1,143,574 1,157,596 8.9%
183,841
1
96,645
4
31,792
$9.34
corridor, Killeen is consistently rated as one of the top economies in the nation. The Killeen-
2009 3q
1,366
12,947,110 1,228,268 1,244,792 9.6%
(41,820)
2
11,990
4
120,037
$9.74
Temple-Fort Hood Metropolitan Statistical Area (MSA) has an estimated population of nearly
2009 2q
1,364
12,935,120 1,174,458 1,190,982 9.2%
666
1
5,000
3
108,635
$9.63
380,000 people. Bolstered by the dynamic and growing presence of Fort Hood, the greater
2009 1q
1,363
12,930,120 1,174,542 1,186,648 9.2%
(113,254)
8
45,847
4
113,635
$9.20
The City of Killeen is located in Bell County about 60 miles northwest of Austin and 60 miles southwest of Waco, adjacent to Fort Hood military complex. Killeen has seen an outstanding amount of growth since 2000, including an increase of 49% of new jobs and corresponding increase of 47% in the population. Located ideally in the country’s fastest-growing economic
Killeen region has experienced tremendous growth that will last well into the future.
Total SF
Vac %
# Blds Total GLA # Blds
Total GLA
Source: CoStar Property®
The Fort Hood military complex had an economic impact of $25.3 billion in Texas during
Existing Inventory
Vacancy
# Blds
Total SF
YTD Net YTD Under Absorption Deliveries Const SF
Quoted Rates
the fiscal 2011, according to a new analysis released by Texas Comptroller Susan Combs.
Market
According to the analysis, 68,942 jobs were directly attributed to Fort Hood operations in fiscal
Copperas/SW Coryell Cnty
221
1,541,643
62,715
62,715
4.1%
8,161
0
0
$8.42
2011, up from about 67,000 jobs in fiscal 2007. Employees at Fort Hood consist of active duty
Downtown Killeen
158
673,902
9,792
9,792
1.5%
39,183
0
0
$9.19
military, federal civilian worker, contract personnel and Killeen Independent School District
Greater Killeen
705
6,388,770
163,255
163,255
2.6%
195,103
0
11,000
$9.59
workers. In addition, there are 79,454 family members supported by these jobs. Fort Hood was indirectly responsible for an additional 214,344 jobs throughout the state. The billions of dollars the federal government has recently invested in Fort Hood provide a stable and longterm economic growth climate and a solid investment plan for the future.
Executive Summary
Period
Total GLA Direct SF
Vac %
Lampasas County
59
430,111
34,490
34,490
8.0%
32,108
4,680
0
$6.81
Temple
235
4,106,873
275,124
275,124
6.7%
74,850
7,628
0
$10.67
Totals
1,378
13,141,299
545,376
545,376
4.2%
349,405
12,308
11,000
$9.90
Source: CoStar Property®
K i l l ee n C r o ss i n g
7
O f f e r e d E x c l u s i v e ly B y
Investment Sales Ryan West
Coler Yoakam
Managing Director
Director
(713) 852-3535
(469) 232-1982
[email protected]
[email protected]
9 Greenway Plaza Suite 700
Matt Berry
Houston Texas 77046
Analyst
Phone (713) 852-3500
(713) 852-3540 [email protected]
Fax (713) 852-3490 www.hfflp.com
For Financing Inquiries Kelly Layne Associate Director (713) 852-3513 [email protected]
Copyright 2013 Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales and commercial loan servicing 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.
