Company Description

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

Business Model

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.

Floor plan

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:

  • Daily pass ($20)
    • Single day access to the shared space
  • Virtual desks ($300)
    • Monthly membership
    • Provides access to shared spaces and
    • Monthly credits for conference rooms
  • Private desks ($500)
    • Monthly membership
    • Provides a dedicated desk space and locker
    • 24/7 access to the building
    • Monthly credits for conference rooms
  • Private offices ($1,000-1,400)
    • Monthly membership
    • Dedicated office space with a locked door
    • 24/7 access to the building
    • Monthly credits for conference rooms
  • Retail
    • Annual leases (price varies by space)
    • Retail space with street-facing access
  • Conference rooms
    • Hourly rental (price varies by room)
    • Members get specified hourly credits each month
    • Open to outside reservations for companies and groups

Location Analysis

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).

Meet the Team

Anne Le
Partner

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 Tran
Partner

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.