Noah’s Event Center

16555 Creek Bend Drive - Sugar Land TX 77478

LTV (Loan to Value)	65.00%	Current NOI	$415,385.00
Interest Rate	4.250%	Capital Rate	8.250%
Fixed Term	10 Years	Land Area	+/- 1.792 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$3,272,730.50	Property Type	Retail
Payment	$17,729.63	Property Lease	Entertainment
Bulding Size	0 SF	Remaining Terms	20 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors, the opportunity to purchase a meeting and event facility 100% leased to Noah Corporation located in Sugar Land (Houston), Texas. The Property is located within the Houston-The Woodlands- Sugar Land MSA with the population exceeding 6 million. The subject property sits next to the Fluor Corporation business park with nine (9) major retail centers within a 3 mile radius, including Lake Pointe Town Center, Sugar Land Town Square and First Colony Mall. Noah's is operating under a brand new twenty (20) year base lease term, which includes two (2), ten (10) year renewal options. The lease features a 10% rental increase in year six (6) and 2% annual rental increases starting in year seven (7) that continue through the base term and option periods. The lease is NNN with no landlord responsibilities.

Highlights

Tenant -Noah's is the first company in the U.S. to build a national chain of event centers. Noah's is a…

Property Description

Sugar Land is a city in the U.S. state of Texas, within Houston–The Woodlands–Sugar Land metropolitan area and Fort Bend County. It is one of the most affluent and fastest-growing cities in Texas, having grown more than 158 percent in the last decade. In the time period of 2000–2007, Sugar Land also enjoyed a 46.24% job growth. As of the 2010 census, its population was 78,817. In 2013, the U.S. Census Bureau estimated that the city's population was 83,860, with a median family income of $113,261 and a median home price of $369,600. Founded as a sugar plantation in the early mid-20th century and incorporated in 1959, Sugar Land is the largest city and economic center of Fort Bend County. The city is the third-largest in population and second-largest in economic activities of the Houston area. Sugar Land is the home of the Sugar Land Skeeters minor-league baseball team and their new stadium Constellation Field Houston–The Woodlands–Sugar Land is the fifth-largest metropolitan area in the U.S. with a population of 6.18 million, as of U.S. Census Bureau's July 1, 2012 estimates. The population of the metropolitan area is centered in the city of Houston—the largest economic and cultural center of the American South, with a population of 2.1 million. Houston is among the fastest-growing metropolitan areas in the U.S. The area grew 25.2 percent between the 1990 and 2000 censuses (adding more than 950,000 people) while the nation's population increased 13.2 percent over the same period. From 2000 to 2007, the area grew by 912,994 people. From 2000 to 2030, the metropolitan area is projected by Woods & Poole Economics to rank fifth in the nation in population growth, adding 2.66 million people. The Property is located off US 59, near the Highway 6, with over 201,000 combined vehicles per day (VPD). The Property is located less than 1 mile from First Colony Mall, featuring over 100 stores. The Property is located in a dense retail corridor with surrounding tenants including Super Target, Whole Foods, Academy Sports + Outdoors, Macy's, Old Navy, Starbucks, McDonald's, Raising Cane's, Subway and many more.