hp plaza - loopnet€¦ · fee simple interest in hp plaza, two newly constructed class-aa office...
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H O U S T O N , T E X A S
SPRINGWOODS VILLAGEHP PLAZA
HP PLAZASPRINGWOODS VILLAGE
HFF L.P., as the exclusive representative of the owner, is pleased to offer a 100% fee simple interest in HP Plaza, two newly constructed Class-AA office buildings
totaling 378,402 SF and fully leased to HP Inc. The Property will be delivered in 4Q 2018 as the next addition to CityPlace, the urban core of Springwoods Village - a 2,000 acre mixed-use community located at the intersection of Interstate 45 and
the Grand Parkway in north Houston. HP Inc. is joining ExxonMobil, Southwestern Energy and American Bureau of Shipping in Springwoods Village, making the
development the epicenter for corporate relocations in Houston due to its robust surrounding amenities that include modern, walkable retail, upscale lodging,
Class-A multi-family options, and 290 acres of green space.
TERM
AMENITIES
QUALITY
CREDIT
LOCATION
TERM
LOCATION
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P R O P E R T Y S U M M A R YC L A S S A A C O R P O R A T E C A M P U S
ADDRESS 11300 & 11400 Energy DriveSpring, TX 77389
NET RENTABLE AREA 378,402 SF
OCCUPANCY 100%
L AND S IZE 11.79 Acres
YEAR BUILT 2018
PARKING R ATIO 6.0/1,000 SF
TENANCY HP Inc. (100%)
S&P CREDIT R ATING BBB / Stable
LEASE TERM 15 years
RENT ESCAL ATIONS 2% Annual
HP PLAZASPRINGWOODS VILLAGE
INVESTMENT GRADE TECHNOLOGY CREDIT
100% leased to HP Inc. (NYSE: HPQ), rated BBB/Stable credit (S&P) with #1
market share, free cash flow expansion, recent tender payoffs and strong
margin growth.
FAVORABLE LEASE TERMS
A full 15 years of term remains on the lease with no give-back or termination rights and 2.0% annual rent escalations. There are also renewal options for up to 20 years at fair market rent with 18 to
24 months written notice.
NEWLY CONSTRUCTED, BEST- IN-QUALITY ASSET
Delivering in the 4th quarter of 2018, the Class-AA Property boasts LEED
certification, significant investment in the space by HP Inc and a 6/1,000 SF
parking ratio.
HOUSTON’S #1 CORPORATE RELOCATION DESTINATION
Springwoods Village has attracted a number of corporate relocations by companies such as ExxonMobil,
Southwestern Energy, ABS, and HP Inc. with others currently in negotiation.
INVESTMENTHIGHLIGHTS
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FULLY AMENITIZED LOCATION
Springwoods Village is a rapidly growing 2,000-acre, mixed-use community in north Houston. When fully complete, the nature-inspired residential and
commercial community will include 4 million square feet of Class A office space, 400,000 square feet of integrated retail space, diverse housing options, civic
facilities, outdoor recreation, shopping, dining and lodging in an urban, walkable environment.
ACCESSIBILITY
Located at the northwest corner of I-45 and the Grand Parkway, Springwoods Village is the new epicenter
of north Houston, providing shorter commutes to the rest of Houston’s major employment and residential
districts.
RESILIENT HOUSTON ECONOMY
Adding 128,700 jobs in the trailing 12 months, Houston is the #1 ranked metro measured by job growth percentage from 2017 – 2018 (among the top 10
metros) and is forecasted to be the #2 MSA in the country in terms of job and population growth in the
coming decade.
INVESTMENTHIGHLIGHTS
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I N V E S T M E N T G R A D E C R E D I T T E N A N TON NOVEMBER 1 , 2015, HEWLETT-PACK ARD SPLIT INTO TWO PUBLICLY TRADED COMPANIES IN ORDER TO DIFFERENTIATE ITS HARDWARE AND TECHNOLOGY SERVICES BUSINESS.
HP Inc., the tenant for HP Plaza, is focused on hardware/equipment solutions such as imaging & printing systems, computing systems, mobile devices, and services for corporate and personal customers. The company operates in three business segments: personal systems (60% of revenue), printing (40% of revenue), and corporate investments (research-oriented).
HP INC. (HPQ) CREDIT RATINGS
S&P: BBB / Stable
MOODY'S: Baa2
FITCH: BBB+
EGAN-JONES: BBB
HP INC. (HPQ) FINANCIAL PERFORMANCE
HP INC. RANKINGS
$36.51 BMARKET CAP
$57.03 BT-12 REVENUE
$
$4.05 BT-12 NETINCOME
Q3 2018 Y-O-Y GrowthREVENUE 11 .7%
NET INCOME: 19.2%
#1 MARKET SHARE of 23.9%, growing 7.6%
year over year
COMMITMENT to remaining investment grade
RECENT Q2 TENDER PAYOFF
of 23% of its short term debt to strengthen balance sheet
$
SUPERIOR GROWTH IN MARGINS
creating additional profitability as sales increase
EXPANSION IN FREE CASH FLOW
via more efficient cost structure and reduction in M&A activity
$$
$
SPRINGWOODS VILLAGE MASTER PLAN
4,000,000 SFof Class A Office Space
400,000 SFModern, Walkable Retail
5,000+Residential Units
1,000+Hotel Keys
290 AcresUrban Green Space
SpringwoodsNature
Preserve
FutureResidential
CityPlace 1150,000 SF Office
Building (U/C)
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HFF L.P.9 Greenway Plaza Suite 700Houston, TX 77046T. 713.852.3500F. 713.852.3490hfflp.com
CONTACT INFORMATION
TRENT AGNEW, SIORManaging Director713 852 [email protected]
JEFF HOLLINDENSenior Managing Director713 852 [email protected]
WALLY REIDSenior Managing Director713 852 [email protected]
CHARLES STRAUSSAnalyst713 212 [email protected]
SHERRI ROLLINSSenior Associate713 852 [email protected]
CLAUDIO SGOBBAManaging Director207 509 [email protected]
MARK WESTSenior Managing Director469 232 [email protected]
COLER YOAKAMSenior Managing Director469 232 [email protected]