FUTURE DEVELOPMENT - LoopNet...•Rebate of ½ of the city’s sales tax from the sale of goods by...

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www.RubiconRealty.com Brokerage I Management I Development Jefferson Drive Plaza RETAIL FOR LEASE 1645 Jefferson Drive, Port Arthur, TX 77642 Thad Mai Cell: 832-607-5113 Office: 281.313.0000 ext. 33 Email: [email protected] Gulfway Drive FUTURE DEVELOPMENT

Transcript of FUTURE DEVELOPMENT - LoopNet...•Rebate of ½ of the city’s sales tax from the sale of goods by...

Page 1: FUTURE DEVELOPMENT - LoopNet...•Rebate of ½ of the city’s sales tax from the sale of goods by retailers/wholesalers occupying such real estate, payable to the developer (1/2 of

www.RubiconRealty.com Brokerage I Management I Development

Jefferson Drive Plaza

RETAIL FOR LEASE

1645 Jefferson Drive, Port Arthur, TX 77642

Thad Mai

Cell: 832-607-5113

Office: 281.313.0000 ext. 33

Email: [email protected]

Gulfway Drive

FUTURE DEVELOPMENT

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Property Information

Disclaimer: Information contained here in, while supplied by sources deemed reliable, is subject to errors and is not warrantied by Rubicon Realty Group or its agents. This information is subject to change without notice.

LOCATION

AVAILABLE FOR LEASE

10,488 Square Feet, 60 Feet Deep

CENTER SIZE

GLA of 12,000 Square Feet (Just completed)

AVAILABLE

Now

BASE RENT

$24 PSF

NNN (CAM, PROPERTY TAXES & INSURANCE)

$6.00 Per Square Foot/Year (Estimated)

DELIVERY CONDITION / TI ALLOWANCE

NEGOTIABLE

ZONING

LC– Light Commercial

PERMITTING THROUGH

City of Port Arthur

UTULITIES / DETENTION

To Site / Not Required

• Traffic Count: 10,920 Cars Per Day on Jefferson Drive (Pitney Bowes 2018)

• Population Density: 77,590 (within a 5-mile radius) • Average HH Income: $ 50,521 (within a 3-mile radius)

• Average home price: $166,018 • Located on the South side of Gulfway Drive (Hwy 87) ,and west of Jefferson Drive, ap-

proximately 1.5 miles south of Hwy 73, in Port Arthur. • Total Daytime at Home Population: 35,650 (within a 3-mile radius) • Total Employees: 21,129 (within a 3-mile radius)

Houston

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Disclaimer: Information contained here in, while supplied by sources deemed reliable, is subject to errors and is not warrantied by Rubicon Realty Group or its agents. This information is subject to change without notice.

Aerial Map

Site

(Expanding)

(Expanding)

(Expanding)

(Expanding)

(Expanding)

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Disclaimer: Information contained here in, while supplied by sources deemed reliable, is subject to errors and is not warrantied by Rubicon Realty Group or its agents. This information is subject to change without notice.

Future Developments

$72 BILLION OF CAPITAL INVESTMENT COMING TO PORT ARTHUR THE MOTIVA REFINERY (owned by Saudi Aramco) is adding another 4,000 employees (for the total of 5,500 employees) to its plans and offices in Port Arthur. Part of the plan calls for construction of a $4.7 billion dollar "steam cracker" to make Ethylene. The Port Arthur plant is already the nation's largest oil refin-ery, and this would put Motiva in the petrochemical game. The company has closed on the World Trade Building and the Federal Building in downtown Port

Arthur, which will be renovated to 500 employees. Motiva is also negotiating for the purchase of Sabine Hotel downtown to convert it into corporate housing. The company gave Port Arthur schools $900,000.

A joint venture between Paris-based Total SA (NYSE: TOT), Calgary-based Nova Chemicals Corp. and Vienna-based Borealis AG are under construction to add a new $1.7 billion Ethane cracker next to the exiting Total Petrochemicals & Refining USA Inc.’s existing refinery in Port Arthur and steam cracker. Construction on the new Ethane cracker will support a peak of 1,500 engineering and construction jobs, and once the cracker is in service in 2020 it will require 60 full-time jobs.

Sempra Energy’s Port Arthur liquefied natural gas (LNG) export terminal holds some 3,000 acres in the county along Highway 87, in route to Sabine Pass. The company’s Port Arthur subsidiary LNG received authorization to site, construct and operate its natural gas liquefaction-export facility. Estimat-ed at $8-9 billion, the project would involve some 3,500 engineering and construction workers and estimates 100 permanent jobs..

Valero Port Arthur, Texas plans a second delayed coking unit and sulfur recovery unit as part of a $900 million expansion. At the peak of construction, 1,500 people will be employed and there will be 30 to 40 permanent jobs.

The Golden Pass Products LLC (affiliates of Qatar Petroleum and ExxonMobil) is moving forward with its $10+ billion infrastructure expansion of its existing Golden Pass LNG facility in Sabine Pass. Golden Pass expects to support about 9,000 construction jobs over the five-year construction period and more than 200 permanent jobs once the facility is operational. Construction is already underway, and the facility is expected to be op-erational in 2024.

Access RV Park and Port Arthur RV Resort have had to create waiting lists because they are already full. Construction has already started on the Golden Tri-angle RV Resort in Port Arthur and will include 137 spaces.

DEVELOPMENT TAX INCENTIVES This property qualifies for a Neighborhood Empowerment Zone credit, where developers of new real state qualify for:

•Up to 8 years of full city property tax abatement •Rebate of ½ of the city’s sales tax from the sale of goods by retailers/wholesalers occupying such real estate, payable to the developer (1/2 of the 1.5% city tax)

Page 5: FUTURE DEVELOPMENT - LoopNet...•Rebate of ½ of the city’s sales tax from the sale of goods by retailers/wholesalers occupying such real estate, payable to the developer (1/2 of

Disclaimer: Information contained here in, while supplied by sources deemed reliable, is subject to errors and is not warrantied by Rubicon Realty Group or its agents. This information is subject to change without notice.

2018 Demographics 1– MI 3–MI 5-MI

Total Population 1,546 12,781 40,416

Growth 2010-2018 13.68% 17.14% 17.42%

Growth 2018-2023 15.01% 15.42% 15.45%

Average Household Income $87,168 $90,183 $98,368

% Bachelor’s Degree 11.99% 14.53% 15.51%

% Advanced Degree 5.30% 5.64% 6.36%

Average Household Size 3.00 3.00 3.00

Demographics

2018 Demographics 1– MI 3–MI 5-MI

Total Population 22,622 57,831 77,590

Average Household Income $ 46,205 $ 50,521 $ 53,453

Median Household Income $ 37,632 $ 40,053 $ 41,844

Total Daytime Population 17,738 56,779 78,535

-Daytime at Home Population 14,162 35,650 46,989

-Daytime Employees 3,576 21,129 31,546

(Pitney Bowes data accessed from Komreal.com 2019)

Gulfway Drive

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Disclaimer: Information contained here in, while supplied by sources deemed reliable, is subject to errors and is not warrantied by Rubicon Realty Group or its agents. This information is subject to change without notice.

Aerial Map

Site

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Disclaimer: Information contained here in, while supplied by sources deemed reliable, is subject to errors and is not warrantied by Rubicon Realty Group or its agents. This information is subject to change without notice.

Site Plan

Future Development

Jefferso

n D

rive

Gulfway Drive

FOR LEASE 10,488 SF

Donut

Shop

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