CW-609MainStreet_IM_Final-10.30
CENTRAL BUSINESS DISTRICT | HOUSTON, TEXAS
CON F I D E N T I A L O F F E R I N G M E MO R A N D U M
“ I have never believed in status quo. I believe we can always improve—either by rethinking existing ways of doing things or by thinking outside the box.
THIS IS INNOVATION — IT IS A STATE OF MIND. ” - Gerald D. Hines , Founder and Chairman
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Investment Distinctions 04
GLOBAL This offering creates the opportunity to acquire a TROPHY TOWER with robust credit-backed durable income that generates strong returns.
On behalf of Hines, Cushman & Wakefield is pleased to present the generational opportunity to acquire 609 Main at Texas , a recently delivered, 48-story, trophy office tower and an icon on the Houston, Texas skyline. 609 Main (the “Tower”, “Building” or “Property”), measures 1,087,090 Rentable Square Feet (100,993 Rentable Square Meters). The property is 94% leased to a diverse roster of industry- leading, high-credit tenants with a 10.6 year weighted average lease term. 609 Main is the premier office address for premier tenants. 609 Main at Texas is a Class AA + trophy quality tower designed by Pickard Chilton and developed by Hines. It is set within the highly sought-after Main Street district of downtown Houston. The Building features best-in-class amenities including a flexible 300-person conference center and event space, a 7,884 SF state-of-the-art fitness facility and two rooftop gardens. The street level retail, including Prelude Coffee and Mendocino Farms, embraces the active live-work- play environment of the Central Business District.
DURABLE CASH FLOW 609 Main’s INSTITUTIONAL QUALITY, unrivaled core location
from a very strong tenant base makes this an EXTREMELY UNIQUE opportunity to acquire a
NEWGLOBAL
TROPHY
TOWER
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06
FORWARD
THINKING
Next Generation Office Tower
10’ FLOOR-TO-CEILING GLASS
FIRST UNDER-FLOOR AIR SKYSCRAPER OF ITS KIND
SUSTAINABLE & EFFICIENT DESIGN, LEED CERTIFIED PLATINUM
MARKET LEADING AMENITIES
ICONIC SKYLINE PRESENCE
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Investment Distinctions 08
Address 609 MAIN STREET HOUSTON, TEXAS 77002
Net Rentable Area 1,087,090 SQ. FT. 100,993 SQ. M.
Remaining Contractual Revenue ~$630 MILLION
Submarket DOWNTOWN CBD
% Leased 94%
Floors 48 FLOORS 10’ CEILINGS
Delivered 2017
WALT 10.6 YEARS
Parking 13 LEVEL PODIUM GARAGE 1,500+ SPACES 1.7/1,000 RSF PARKING RATIO
ENERGIZING ENVIRONMENT
Catered to the Modern Professional Aiming to Optimize All Facets of Everyday Life
STATE OF THE ART FITNESS CENTER 7,884 SF Facility
Cutting Edge Equipment Club Style Locker Rooms
DYNAMIC CONFERENCE CENTER
Flexible Training Rooms Executive Board Rooms Polished Event Space & Catering Kitchen
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Investment Distinctions 10
PRIVATE ROOFTOP GARDENS
Panoramic City Views Serene Outdoor Setting Native Landscaping
UPSCALE RETAIL OFFERINGS
Third wave barista service with breakfast and lunch options
Creative, chef driven sandwiches, salads and catering options
PREMIER
ADDRESS FOR PREMIER
GLOBAL BRANDS
Tenant Industries %OF NET RENTABLE AREA
5 %
5 %
6 %
34 %
Legal Finance Energy Travel Creative
23 %
Consulting Real Estate Insurance
7 %
19 %
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The modern, functional and progressive experience provided by 609 Main has attracted blue-chip global brands that identify with Hines’ standard of excellence. As a result, the building is 94% leased for a weighted average lease term of 10.6 years, providing long term durable income with remaining contractual revenue of $630 million.
Investment Distinctions 12
MAJOR AMERICAN AIRLINE 226,036 RSF | 21% NRA | DEC-29 LED
INTERNATIONAL LAW FIRM, AmLaw #8 (2019) 162,437 RSF | 15% NRA | MAY-32 LED
INTERNATIONAL LAW FIRM, AmLaw #34 (2019) 57,239 RSF | 5% NRA | JUN-30 LED
GLOBAL INVESTMENT BANK 56,584 RSF | 5% NRA | JUL-31 LED
GLOBAL FINANCIAL SERVICES 29,763 RSF | 3% NRA | MAR-32 LED
INTERNATIONAL CONSULTING & ADVISORY SERVICES 36,786 RSF | 3% NRA | JUN-30 LED
Downtown Houston COMMERCE + CULTURE
BUFFALO BAYOU
HOBBY CENTER
J.W. MARRIOTT
FINN HALL
HOUSE OF BLUES
THE STAR
FOUR SEASONS
CAP
EMBASSY SUITES
HAMPTON INN & SUITES
MARRIOTT
DISCOVERY GREEN
HOUSTON CONVENTION CENTER
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WITHIN 1 MILE
350 RESTAURANTS 600 RETAIL SHOPS
35 HOTELS 8K RESIDENTIAL UNITS
609 Main The Property is located in the Main Street district of downtown Houston which embodies the most authentic mix of Houston’s urban lifestyle.
ARIS MARKET SQUARE
WHITE OAK BAYOU
MARKET SQUARE TOWER
WORTHAM THEATER CETNER
MARKET SQUARE PARK
THE RICE
Hotels Residential Entertainment Parks
THE CATALYST
TOL STREET
500 CRAWFORD
N
WESTIN
TEXAS AVE
MINUTE MAID PARK
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#1 FOREIGN TRADE PORT
7 th LARGEST METRO ECONOMY IN THE U.S.
3.6% UNEMPLOYMENT
3 rd RANKED MOST JOBS ADDED IN 2018
6.8 MILLION RESIDENTS IN HOUSTON MSA
46% POPULATION GROWTH SINCE 2000
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TOP GLOBAL HOUSTON, TEXAS:
Investment Distinctions 16
MARKET &
ECONOMIC
ENGINE
22 Fortune 500 Company HQs
500+ Digital Tech Companies
TENANT
The Cl ientele 21
SUMMARY
The Cl ientele 22
VARDE MANAGEMENT
RUSSELL REYNOLDS
OCCIDENTAL PETROLEUM
HASTINGS EQUITY PARTNERS
SAVILLS
DEAL CONTACTS
MIKE MCDONALD Vice Chairman +1 972 663 9921 mmcdonald@cushwake.com ADAM SPIES Chairman +1 212 841 5903 adam.spies@cushwake.com JANICE STANTON Executive Managing Director +1 212 841 5025 janice.stanton@cushwake.com JONATHAN NAPPER Executive Managing Director +1 972 663 9920 jonathan.napper@cushwake.com RYAN STEVENS Managing Director +1 972 663 9927 ryan.stevens@cushwake.com KATY JANE JENEVEIN Senior Director +1 972 663 9922 katyjane.jenevein@cushwake.com MACKI MCKIM Senior Associate +1 972 663 9923 macki.mckim@cushwake.com ROB RUBANO Executive Managing Director +1 310 595 2225 rob.rubano@cushwake.com BRIAN SHARE Managing Director +1 310 595 2231 brian.share@cushwake.com GREG NAPPER Director +1 972 663 9931 greg.napper@cushwake.com FINANCING CONTACTS
To execute the Confidentiality Agreement and further information, please visit: www.609MainHTX.com
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