Investment Overview

Marcus & Millichap is pleased to present Fannin Square, a 39,394-square-foot, multi-story mixed-use asset, featuring retail, office, and residential uses. The subject property is strategically positioned at the epicenter of Houston's thriving Midtown submarket, nestled in immediate proximity to the cutting-edge Ion vertical mixed-use developments, which are rapidly transforming the Midtown landscape. This asset enjoys a prime location close to new developments and major thoroughfares. Fannin Square also benefits from its strategic adjacency to Houston's Museum District, Montrose, and the Central Business District, making it a rare and attractive investment opportunity. Moreover, the property capitalizes on a robust local demographic, with an average household income exceeding $135,000 within a three-mile radius, as well as being surrounded by multiple assets acquired by nearby Rice University. The subject property provides an investor the incredible opportunity to be centrally located in Houston's most popular and eclectic urban submarket. The subject property is also located next to The Ion, a 266,000-square-foot building owned by Rice University, which is a major tech hub with tenants such as Chevron Technology Ventures, Microsoft, and Common Desk. In addition, just one block from the subject property is Greentown Labs, which is the largest climatetech startup incubator in North America. Midtown Houston, Texas features 60-plus restaurants, 30-plus bars, 25-plus art galleries and museums and theaters, and 40-plus painted murals throughout the district. Midtown has also been the site of nationally-awarded development, including Federal Transportation Agency recognition and the Presidential Award of Excellence in Design and Implementation. With a population exceeding 7.3 million, Houston stands as the United States' fifth most populous metropolitan area. This vibrant city offers a more affordable cost of living than numerous other major metros. It boasts the advantages of no state income tax and a median home price below the national average. Moreover, Houston proudly hosts the second-highest number of Fortune 500 companies in the nation, trailing only behind New York City. With an influx of new residents and corporate relocations, investors and developers continue to target this market to service the increasing demand for commercial assets. Overall, Fannin Square provides a new investor or developer the rare opportunity to be a part of one of the most rapidly transitioning neighborhoods within the city of Houston, Texas. With close proximity to multiple new developments, the 39,394-square-foot asset allows a new owner the opportunity to be strongly positioned in the heart of the Midtown submarket.