The Presidio at Manvel - Transwestern

The Presidio at Manvel
NEC S.H. 288 & S.H. 6
Manvel (Houston,), Texas
OVERVIEW
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TRANSWESTERN

THE PRESIDIO
NEQ of S.H. 288 & S.H. 6
MANVEL, TEXAS
RETAIL DEVELOPMENT OVERVIEW
City of Manvel Growth Trends:
Population growth in Manvel, Texas has exploded over the past 10 years; so
much so that this small town immediately south of downtown Houston is
now considered one of the fastest growing suburbs in the greater Houston
area. The 2000 Census reported that the population in Manvel in 2000 was
4,817 people. Based upon historical growth rates between the 1990 and
2000, the U.S. Census Bureau projected that the population of Manvel in
2008 would be 6,095 people. However, due to the city’s unprecedented
residential growth, the actual growth rate for Manvel’s population has far
exceeded this projected growth rate by the U.S. Census Bureau.
Recent postal drop information from the United States Postal Service
indicates that the current population of Manvel is actually 8,395, almost
twice the growth rate projected by the Census Bureau. More specifically,
the City of Manvel’s population has increased 57.21% since the 2000
Census Data was reported. This same overall growth trend rate is present
in population growth rates for the immediate area:
Population Growth Around The Presidio
Radius Ring 2000 Census 2008 Actual % Increase
5 miles 19,584 40,500 106.83%
10 miles 149,437 250,264 69.48%
15 miles 676,931 905,084 35.15%

Regional Retail Trade Area:
As previously discussed, The Presidio project is located at the intersection of
S.H. 288 and S.H. 6. The immediate area in and around Manvel, Texas is
grossly underserved as to retail sales and service, and the city leadership is
doing everything possible to attract major retailers to the area. This being
said, The Presidio site is much more than a neighborhood development
opportunity. This particular site is generally considered by retail experts
as “the next” major regional retail site. And The Presidio is the best of
only two possible major retail sites at the intersection of SH 288 & SH 6.
As a regional retail site, retailers view The Presidio as drawing customers
from a much larger geographical area than just the immediate City of
Manvel. Additionally, the site has a Primary and Secondary trade area from
which it draws customers. The Primary Trade Area is just as its name
indicates; that area from which the retailer’s primary customers come. The
Secondary Trade Area represents the area from which retailer’s occasional
customers come.
Transwestern has identified the “Primary” and “Secondary” Trade Areas that
will likely be used by major retailers interested in locating at The Presidio.
These Primary and Secondary Trade Areas are critical for marketing sites
within The Presidio development. The boundaries of these Trade Areas
have been determined by compiling current “Drive-Time” data, plotting
competing retail developments to The Presidio project, analyzing current
and future traffic patterns, and identifying the current retailer “spacing.”
The Primary and Secondary Trade Areas that we have identified are:
Primary Trade Area: The Primary Trade Area extends
approximately 10 miles north, east and west of the site; and extends
approximately 20 miles south of the site. The Primary Trade Area is
irregular in shape, and is generally dictated by access to and from existing
highways and roads.
Secondary Trade Area: The Secondary Trade Area extends
approximately 15 miles north, east and west of the site; and extends
approximately 40 miles south of the site (all the way to the gulf coast of
Texas.) The Secondary Trade Area is irregular in shape, and is a somewhat
elongated version of the Primary Trade Area.

Population Trends of Retail Trade Areas:
As with the City of Manvel, the Primary and Secondary Trade Areas have
experienced tremendous growth; and a great deal more than what was
projected by the U.S. Census Bureau in 2000. Below is data which shows
the significant discrepancy in these growth numbers:
Primary Trade Area Population:
2000 Census 2008 Projected 2008 Actual Actual % Growth
139,545 179,800 232,560 60.00%
Secondary Trade Area Population:
2000 Census 2008 Projected 2008 Actual Actual % Growth
492,470 617,800 683,143 72.09%
Transwestern is now using this revised current population data to
concurrently market The Presidio to retailers who might not be aware of the
exceptional housing growth in the Manvel area over the past 7 years since
the 2000 Census was released. This updated population growth information
is extremely valuable for retail development as it is the first criteria that
retailers use for determining the viability of a new store location.
Population growth of 60% to 100% in 7 years (coupled with trade areas
containing 250,000 to 600,000 in verifiable population) makes for an
extremely compelling story for national retailers to locate at The
Presidio.
Conversations with national tenants such as Wal-Mart, Home Depot and
Lowe’s confirm their long-term interest in the property. There have also
been initial conversations with another user to purchase 130 acres for an
Auto Mall use.

Retail Marketing Overview:
The current site plan for The Presidio provides for a significant commercial
development at the hard corner of S.H. 288 and S.H. 6. Transwestern and
the current ownership have worked with the City of Manvel and the Texas
Department of Transportation to secure zoning for this commercial
development, as well as to secure the additional traffic signals, access roads,
signage and public funding to help pay for these development costs.
The Presidio property lends itself to a regional retail development, and the
design of the main thoroughfares through The Presidio gives maximum
flexibility to the commercial/retail zoned area of the property. The
dimensions and layout of the retail-zoned areas enables a developer to
respond to the retail market with flexibility, whether that includes:
1) a Regional Mall,
2) a Power Center, and/or
3) a Lifestyle Center.
Perhaps the most critical aspect of the property is its optimum spacing
from other existing retail centers. The Presidio is located 5 miles south on
S.H. 288 from major retail developments in Pearland. Retailers, retail
developers, and ICSC analysts all agree that 5-mile spacing between major
retail areas is the optimum spacing for new retail projects; thus, The Presidio
is well-positioned to attract new retail to Manvel. Additionally, the nearest
retail concentration to the east is located on S.H. 6 in the City of Alvin,
which is over 10 miles away. To the west on S.H. 6, the nearest major retail
is approximately 8 miles away, with the vast majority of other retail
development concentrated 10-15 miles away in Sugar Land (See retail
competition map attached.) This favorable retail “spacing”, coupled with
the “regional” nature of the site ensures that The Presidio will be next,
best retail location in the south Houston area.

Current Retail Site Plan Marketing Strategy:
Transwestern anticipates that the 1 st phase of the retail-zoned portion of The
Presidio will be developed as a traditional retail Power Center, and a future
Lifestyle component will be built as a 2 nd phase on the west side of Manvel
Parkway and east of the initial Power Center. As discussed above, the
“retail spacing” for this development is excellent, so many of the retailers
currently located north on S.H. 288 in Pearland will be interested in locating
units in The Presidio. Retail prospects for this project include:
Wal-Mart Supercenter Home Depot Ross
Lowe’s Home Improvement Marshall’s JC Penney
Whole Foods Market Randall’s Kroger
Bed Bath & Beyond Super Target Staples
Linens-N-Things Barnes & Noble Conn’s
Best Buy Circuit City Kohl’s
Sport Authority Dick’s Sporting Goods HEB
AMC Theaters Regal Cinema PetsMart
Beside these specific tenants, there are many others who would fall into the
general retail categories of furniture, entertainment, and soft-goods. In
addition, there are national restaurants and hotel chains interested in locating
at The Presidio who have already contacted us.
And not to be overlooked is strong interest from the medical community at
this intersection. Because of The Presidio’s regional location, there has
already been initial interest expressed by medical users to locate within The
Presidio project.
Competing Sites:
There is a lack of competing retail sites in and around The Presidio. In fact,
at the four corners which are created by the intersection of S.H. 288 & S.H.
6, there are only 2 viable retail corners; The Presidio located on the northeast
corner of the intersection, and the northwest corner which is owned by a
local Houston retail developer. The southwest and southeast corners of the
intersection have numerous issues which will limit any retail development.
These issues include floodplain, a railroad track, and fragmented ownership.
And of the 2 viable sites at the intersection, only The Presidio can be
developed now.

The Presidio at Manvel
NEC S.H. 288 & S.H. 6
Manvel (Houston,), Texas
TRANSWESTERN