Revenue Sharing Notes ?
|Minimum Target||$150,000 ?|
|View Key Terms|
|Minimum Target||$150,000 ?|
|View Key Terms|
The Annex HTX (formerly known as The Co-Op HTX) is an innovative real estate development project blending retail and co-working in a central, creative space in Houston. The 10,000 square-foot multi-purpose development features retail shops, private offices, flexible co-working space and communal conference rooms. It aims to become a central hub that draws people in, sparks new ideas, and supports a collaborative community.
Animated rendering of The Annex HTX
Owners Anne Le and Sandy Tran currently run three popular locations of their dessert and cafe´ series (Sweet and Tout Suite) in Houston, drawing large crowds and consistently delivering unique experiences that Houstonians love. They regularly heard from their customers about the need for a well-designed co-working space where entrepreneurs can connect and work.
The AnnexHTX will be designed and operated by this proven team and will be located in the same building as their beloved cafe´ and bakery, Tout Suite.
This cafe´ and restaurant has quickly become downtown’s “it” hangout spot for laptop workers and get-togethers. Tout Suite was voted the Best Neighborhood Spot Downtown (Houston Press) and runner-up in CultureMap Houston Tastemaker Awards as the Best New Restaurant in 2015. Tout Suite is also a regular among the top lists of coffee shops, brunches, desserts, breakfast sandwiches and all-around restaurants to check out in the Houston scene.
By building within the same location, The Annex HTX will be able to leverage the popular East Downtown (EaDo) location and its constant flow of traffic and exposure, targeting a built-in client base that is ready for a space designed especially for them.
The Annex HTX is a 10,000 square-foot co-working and mixed retail development.
Despite the global co-working industry registering tremendous growth over the last decade (Emergent Research: number of spaces grew from 14 in 2007 to 11,100 in 2016), Houston remains underserved compared to other US major cities. According to Symmetry50’s 2015 list, there was only one co-working space from Houston (START Houston) in the top 100 co-working spaces in the US.
With a vibrant gathering of mixed retail and private businesses, the design of the space is crafted for everyone to thrive. The Annex HTX is confident in its ability to sustain strong occupancy with its attractive location and array of convenient, affordable and flexible co-working options.
Popular cafe´ and restaurant Tout Suite is owned and operated by the team behind The Annex HTX. The two businesses will be located in the same building.
Owners Anne Le and Sandy Tran
100% of the proceeds will be used for completing construction of The Annex HTX. Any excess funds will be strategically used towards upgrading the facility such as technology, materials used for build-out, landscaping on the property, and fixtures/furniture.
Private offices can be used both for work and retail space.
Desk space will be available for both permanent and virtual members.
Renderings and floor plan presented in this offering may not reflect the final designs of The Annex HTX.
|Principal||Investment Multiple||Maturity*||Total Payment*|
Beginning after the first full month following the closing, the Issuer will share 13.5% of each month’s gross revenue with the investors as a group until they are paid in full.* Each investor will receive its proportionate share of the monthly payments made to the investors as a group.
Assuming that the total amount raised through this offering is $200,000, and Investor A invested $1,000, Investor A would be entitled to receive 0.5% of the $5,400 shared with investors for month X. Therefore, Investor A is paid $27.00 for month X.
* The calculations above are mathematical illustrations only and may not reflect actual performance. They do not take into account NextSeed’s service fee of 1% on each payment made to investors. ... Read More The exact length of time that it will take the Issuer to pay each investor in full cannot be known in advance since the Issuer's actual revenues may differ from its reasonable forecasts. If any balance remains outstanding on the maturity date, the Issuer is contractually required to promptly pay the entire outstanding balance due to each investor. Payment is not guaranteed or insured and investors may lose some or all of the principal invested if the Issuer cannot make its payments. Read Less
The number of independent workers is predicted to reach 65 million Americans or over 40% of the US workforce by 2020 (US Bureau of Labor Statistics). This trend has triggered a new way of working and a need for alternative office space. People are looking for community, relationships and a supportive structure to help each other succeed. Large corporations and their employees are also taking part in this movement. Companies such as General Electric, KPMG and Coca Cola are finding ways to use co-working spaces across the country to provide their employees with resources in remote markets. Instead of setting up a complete office, co-working spaces provide the required infrastructure and a dynamic environment that corporate employees can benefit from. This social phenomenon, happening at both ends of the spectrum, has driven the fast-growing co-working industry. According to research released by the Instant Group in May 2016, the number of co-working spaces in the US grew from just 3 in 2005 to 3,596 in 2015. The industry grew by more than 10% across the US in 2015 and attracted $1 billion in funding last year alone. The largest markets for co-working have been New York, San Francisco, Austin, Seattle and Los Angeles.
The Annex HTX is a co-working space in Downtown Houston that will provide a workspace, office services and other support services to this growing sector. Entrepreneurs, business owners, independent workers and other professionals will find an environment designed to increase productivity, reduce the feeling of isolation and provide the opportunity to network with other like-minded people. The founders aim to deliver collaboration, openness, community, accessibility and sustainability to each and every member of The Annex HTX.
The Annex HTX will provide a suite of options that include various levels of membership and access to the space. Each serves the unique and dynamic needs of its customer base.
The options will include:
The Annex HTX will be located at 2007 Commerce St, Houston, TX 77002. The business will be situated in East Downtown (EaDo) next to the partners’ heavily trafficked Tout Suite restaurant.
The building already has hundreds of daily visitors anchored by Tout Suite. Additionally, thousands of potential clients pass by the building daily, as residents go to and from work, attend sporting events at Dynamo Stadium and Minute Maid Park, and participate in conventions at the George R. Brown Convention Center.
EaDo is an area of growing urban and commercial development. Within the past several years, EaDo has transformed into a vibrant area, with restaurants and shops popping up to catch up with the rising population and advantageous location. More recently, the area has been the focus of heavy investment and excitement from urban and commercial developers.
EaDo is near Houston’s prime employment centers: Downtown, the Texas Medical Center and the Houston Ship Channel, all of which are immediately accessible via highways 59, 610 and interstate I-45. The METRO Light Rail connects EaDo to various interest points throughout Houston. Easy, multiple access to other business centers, universities and urban areas creates a prime working condition for a co-working space development.
EaDo is also within walking distance to a plethora of entertainment, including the Discovery Green Park, Minute Maid Park, the George R. Brown Convention Center, Toyota Center, BBVA Compass Stadium and the Houston Pavilions, or can be accessed via the METRO transit and rail system. This close proximity is especially critical to the new age of workers who seek easy access between work and leisure.
Apartments and condos nearby include Marquis Downtown Lofts, Alexan Lofts, Lofts at the Ballpark, Herrin Lofts Condominiums Association, NHH Canal Street Apartments, Canal Place and City View Lofts. Tout Suite and Annex HTX is ideally located for residents in these luxury condos looking for workspace.
Within a one-mile radius in EaDo, average household income is approximately 120% of the national average. Currently, the median age is 36 and forecasted trends further predict a rise of those in the 35-55 age group. The influx of professionals migrating to Houston, increasing value of property and the growing popularity in this area are likely contributors to this trend.
Average expenditure per resident in the area is above the national average. Expenditures on food away from home has also been steadily increasing in the last few years (Piinpoint Data).
Anne was born and raised in Houston. With a Bachelor’s of Science in Human Development & Family Sciences from the University of Texas at Austin, she is committed to building the business's local foundation by mentoring and working hands-on with her team. Armed with operational experience from four years with Hewlett Packard's Global Logistics team, 16 years of experience in the food and beverage industry and an MBA, Anne is uniquely equipped to lead the group to success. With her passion in event planning and design, Anne heads up kitchen operations, leads the team’s community engagement and spends time focusing on scaling the growing portfolio for Sweet, Tout Suite and beyond.
Sandy is a life-long Houstonian. Her 17 years in the service industry (9 years launching various startup restaurants) has been built on a foundation of restaurant accounting and finance. After graduating from the University of Houston with a BA in Accounting, she set out on a career path with Ernst & Young as an Auditor. But a few years in, she redirected her energy towards her passion -entrepreneurship. She now handles the planning, accounting, and financial growth of Sweet, Tout Suite, and the expansion for the group.
September 4, 2018
We are open to the public as of July 2018! We had tenants move into The Annex in late April and have been in soft launch until we publicly opened in July with our investor tour of the space to kick-off the opening!
For our investors that qualify for the 3 month, one year and lifetime virtual membership, please know that you are now welcome to visit and begin to use your bonus reward. Please bring your photo ID and we will be able to search for you within our internal database. This reward allows you to check in and work in our community style workspace as you please. The first day you check-in will be the start of your membership time period.
June 26, 2018
A recent update was sent out to our investors. For the full update please check your investor emails from email@example.com!
June 19, 2018
A recent update was sent out to our investors. For the full update please check your investor emails from firstname.lastname@example.org!
April 26, 2018
We are excited to announce that things are coming together. Some of our tenants are starting to move in this week, and we hosted our first (small) corporate event in the space this past weekend! The Annex will soft launch over the next couple of months and will officially open to the public in the near future. We’re thrilled to finally share some of the photos of the space with you.
We know many of you are ready to see The Annex HTX and we want to offer a tour just for our NextSeed investors before we open. Once we lock down the date, we will send out an invitation in the next few weeks.We will personally walk everyone around the space, talk about the builds, amenities and answer any questions you may have prior to the public opening. In addition, we will have some sweet bites to offer as a token of our appreciation for your support.
As always, we are very grateful and we look forward to meeting each of you. Please anticipate an invitation to tour The Annex soon!
For the full update please check your investor emails from email@example.com!
February 12, 2018
We are still waiting on our last city permit and can’t move forward with any final touches until we receive this approval. Unfortunately, for the past few weeks, we have checked in repeatedly and have continued to get a response of, “possibly tomorrow.”
Once we get the final approval, the last items remaining:
Installation of windows
Retail Store Fronts
We’re still hoping to have a soft opening by the end of February if we can schedule the city visit and permit approval.
Your support and patience have been a true testament to The Annex mission. We are incredibly grateful and look forward to opening our doors as soon as we can.
January 23, 2018
As an investor in The Annex HTX, it’s important to us to keep you updated on our progress! Your investment has been vital in contributing to the completion of The Annex HTX build out. We’re pleased to say that we got permanent power on January 5th and the transformer has been fully installed in coordination with the city and Centerpoint.
The last items remaining include: getting final city approval and inspector visit scheduled this month; updates to the internal building – installation of windows, mezzanine, retail storefronts.
Our anticipated soft opening is in February if on schedule. Looking forward to hosting you in our space soon!
December 6, 2017
We have experienced a series of fiber networking issues over the course of the past few weeks, but despite those setbacks, we are able to complete our network cabling without incurring additional costs or experiencing additional delays.
Then shortly thereafter, we ran into another issue where Centerpoint and the electricians miscommunicated the installation project plan for the new transformer. The only way to proceed was to obtain final approval from the city by making those revisions to their electrical drawings on file. Since then, we have resubmitted our electrical revisions to the city and have hired an expeditor to get the necessary approvals.
At this point, we will be working to open our first phase and the second phase should shortly follow two weeks after. We will share dates once we have a better idea of when our first phase will be complete. We’re aiming for a soft opening in January.
October 20, 2017
Despite the initial project delays with Centerpoint due to Hurricane Harvey and Maria, we are finally on their install schedule and have dates in place for the rest of our build out! We are also delighted to share the progress photos of our exterior and interior at The Annex. At this stage, 50% of our office space is already leased out! We plan on announcing our soft opening in December!
August 22, 2017
To make sure our investors are there for the highs and lows of our journey in building a new business, we wanted to share that we have had significant delays with Centerpoint completing the installation of our electrical hookups. We are working diligently to resolve this and are in the midst of rescheduling. Thank you for your continued support.
April 21, 2017
We wanted to take a minute and update you on our progress at the Annex. Unfortunately, we’ve had some delays, but are now back to work on getting the rest of the space built out.
The good news is, we have set our official launch date for June 1st! Also, we are currently finalizing lease agreements for our tenants and are excited to announce them as soon as everything is signed. We can’t wait to get the space open and to share it with all of you.
January 25, 2017
We wanted to give you an update on construction at the Annex. We’ve made some exciting progress on the space including putting in a new roof, installing our HVAC system and ducts, and bringing in a large electrical transformer and power to the end of the Annex.
We’ve ordered all the glass doors and windows and look forward to getting those installed. We’ve also purchased all the lounge furniture so that we can create an inspiring environment for our tenants.
We are currently scheduled to be finished with construction at the end of March and can’t wait to share the finished space with everyone.
November 15, 2016
We wanted to reach out and give you a quick update on the construction of The Annex HTX. We’ve made great progress on the space, but are looking at a slightly later opening date than originally planned.
We’ve submitted blueprints for the interior of the space, and we’re awaiting final permits from the city before we can finish sectioning off each office and space. The process is taking a bit longer than usual, and we suspect that the uptick in construction projects around Houston in anticipation of the Super Bowl is causing these delays.
We are planning to open in January 2017.
Thanks again for all your support so far!
October 6, 2016
We were humbled by the support and love from the community last week!
Knowing that we’ve already passed our minimum goal (and still climbing!) with NextSeed is a huge vote of confidence, and we sincerely appreciate all of you.
At our Open House event, nearly 300 people joined our hard hat tours, and we took the opportunity to share our vision for the space while it’s still under construction. The feedback was overwhelmingly positive.
Construction is moving steadily along, and our opening date is set for November 16th.
Finally, we have a big new unveiling… We’re rebranding the business as The Annex HTX!
There were several factors involved in this decision, but at its core, we wanted our intentions to be crystal clear. We listened carefully to early feedback from the community and uncovered that the name “Co-Op” was confusing to some. There were questions about whether the name implied that we would be forming a true “cooperative” in the legal sense of the word. While we intend to have a similar spirit of community, we were not suggesting that members would be expected to share in the workload and planning of the space as they might in a “cooperative.”
Although we struggled with this decision for a bit, in the end, we understood the heart of the issue and decided to simply go a different route ahead of opening. We’ll need to do a little more in terms of rebranding, but we already have some creative ideas for how this will roll out.
None of this will change the investment opportunity. The entity remains The Collective LLC. The name “The Co-Op HTX” was only a dba to begin with, and we’ve already filed for a dba for “The Annex HTX” this week. The transition will be seamless.
Again, many thanks to the NextSeed community for the on-going support. A big thank you to everyone who has participated in our campaign. It truly means the world to us!
September 21, 2016
Join us at The Co-Op HTX for a sneak peek event!
The space is still under construction, but we’re hosting an open house on Wednesday, September 28th to let the community check out the space and learn more. Light bites and refreshments from Tout Suite included. We’d love for you to join us!
September 13, 2016
We’re proud to showcase our new website. Check out www.thecoophtx.co to learn more about the space and membership options!