LA FITNESS AUSTIN, TX MSA | CEDAR PARK, TEXAS - VENTURE INVESTMENT SALES OFFERING MEMORANDUM - Brytar Companies
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L A FITNESS FRIENDLY VERSION
AUSTIN, TX MSA | CEDAR PARK, TEXAS
VENTURE INVESTMENT SALES
OFFERING MEMORANDUM
REPRESENTATIVE PHOTO
LA FITNESS | NEQ WHITESTONE BLVD.
FM 1471 & B AG DA D, C E DA R PA R K, T E X A S
TABLE OF CONTENTS
EXECUTIVE SUMMARY
04
Investment Overview
Investment Highlights
Property Profile
Lease Abstract
Site Plan
10
PROPERTY OVERVIEW
Location Map
Aerials
Property Photos
Video
17
DEMOGRAPHIC OVERVIEW
Population Data
Income Data
Traffic Counts
John Zikos Jonathan Cooper Don Miller Josh Devin
Managing Partner Principal Partner Vice President - Acquisitions & Dispositions
jzikos@venturedfw.com jcooper@venturedfw.com dmiller@venturedfw.com jdevin @venturedfw.com
REPRESENTATIVE PHOTO
EXECUTIVE SUMMARY INVESTMENT OVERVIEW
This freestanding +/- 34,000 square foot LA Fitness is among the first handful
of clubs in the nation using LA’s new prototype building. The club sits on
4.03 acres of land at the northeast quadrant of Whitestone Boulevard (FM
1431) and Bagdad Road in the City of Cedar Park, Texas. The lease has a 15-year
primary term with three 5 year options commencing on or about December 1st,
2018. The site has excellent exposure to a combined traffic count of over 51,000
vehicles per day along Whitestone and Bagdad.
Cedar Park is a northern growth suburb in the Austin, Texas MSA. Austin is the capital
of the state of Texas, the 4th-most populous city in the state and the 11th-most in the
United States. The Austin–Round Rock MSA has an estimated population of 2,056,405
people. Per the US census, Austin was the 3rd fastest growing city in the nation in 2016. U.S.
News & World Report, Bloomberg, Yahoo, and Forbes have all recently ranked Austin as the #1
city in the US to live and do business. Cedar Park was recently ranked at #5 of the top 10 best
suburbs to live in the nation. The city is located in the exemplary-rated Leander Independent
School District, and is home to the Austin Community College Cypress Creek campus with over
5,000 students. These factors along with a low unemployment rate and low cost of living have
helped Cedar Park to be a highly sought after and rapidly growing market.
This LA Fitness location benefits from a dense 3-mile population with over 85,000 people and an average
household income of over $103,000 per year. The site sits less than ½ mile west of Bell Boulevard with a
Walmart Super Center and a newly expanded HEB Grocery store. Leander, which is immediately adjacent
to the north of Cedar Park, was the fastest growing city in the nation per the US Census in 2014/2015 further
deepening the trade area. This investment gives a potential buyer the opportunity to own real estate operated
by the largest corporately owned fitness provider in the nation in one of the top suburbs in the hottest metro
area in the country.
REPRESENTATIVE PHOTO 5
INVESTMENT HIGHLIGHTS PROPERT Y PROFILE
LOCATION
PROPERTY VALUE
• LARGEST CORPORATELY OWNED HEALTH
CLUB PROVIDER IN THE NATION
• LOCATED IN A TOP SUBURB OF THE THIRD
FASTEST GROWING CITY IN THE NATION IN
2018, ACCORDING TO FORBES.
V SWC WHITESTONE BLVD.
& BAGDAD RD.
CEDAR PARK, TX 78613
$
V $10,908,333.33
• NEWLY CONSTRUCTED PROTOTYPE
• COMBINED TRAFFIC COUNTS OF OVER 51,000
VEHICLES PER DAY
• NO STATE INCOME TAX LAND SIZE IN-PLACE NOI
AC
± 4.03 AC $654,500.00
• INTERNET RESISTANT TENANT • BRAND NEW 15-YEAR LEASE
YEAR BUILT CAP RATE
2017 - 2018 6.00 %
LEASED IMPROVEMENT SIZE
leased
100% LEASED ± 34,000 SF
6 REPRESENTATIVE PHOTO 7LEASE ABSTRACT
LEASE
COMMENCEMENT
FIRST QUARTER
OF 2019
TERM
FIFTEEN (15) YEARS
PRIMARY
TERM
YEARS 1-5 $ 97,500 / YR
*
YEARS 6-10 $ 107,250 / YR
YEARS 11-15 $ 117,975 / YR
OPTIONS
THREE (3) FIVE (6) YEAR OPTIONS
YEARS 16-21 $ 756,500 / YR $ 22.25 PSF
YEARS 22-27 $ 790,500 / YR $ 23.25 PSF
YEARS 38-32 $ 824,500 / YR $ 24.25 PSF
*
MODIFIED TRIPLE NET LEASE WITH
LANDLORD RESPONSIBLE FOR ROOF STRUCTURE
SITE PL AN
8 REPRESENTATIVE PHOTO 9PROPERT Y OVERVIEW LOCATION MAP 10 REPRESENTATIVE PHOTO 11
AERIALS
AERIALS
12 13PHOTOS PHOTOS
PHOTOS
14 REPRESENTATIVE PHOTO REPRESENTATIVE PHOTO 15DEMOGRAPHIC OVERVIEW
One Mile Poplulation Three Mile Poplulation Five Mile Poplulation
12,000 250,000
100,000 2010 Census
90,000 2018 Estimate
10,000
200,000 2023 Projection
80,000
8,000 70,000
60,000 150,000
6,000
50,000 2018 Average Household Inc
40,000 100,000 2018 Median Household Inco
4,000
30,000
2,000 20,000 50,000
10,000 2018 Median Age
0 0 2018 Average Age
0
2010 Census 2018 Estimate 2023 Projection 2010 Census 2018 Estimate 2023 Projection 2010 Census 2018 Estimate 2023 Projection
Income Population Age
$120,000
39
$100,000 38
37
$80,000 36
35
$60,000
34
$40,000 33
32
$20,000 31
30
$0
One Mile Three Mile Five Mile
One Mile Three Mile Five Mile
2018 Average Household Income 2018 Median Age 2018 Average Age
2018 Median Household Income
POPULATION DATA MEDIAN AGE
One Mile Three Mile Five Mile One Mile Three Mile Five Mile
2010 Census 7,974 65,766 120,937 2018 Est. Median Age 38 34.5 34.9
2018 Estimate 9,210 81,480 167,079 2018 Est. Average Age 37.5 33.2 33.5
2023 Projection 10,313 93,562 196,716
INCOME DATA TRAFFIC COUNTS
One Mile Three Mile Five Mile W Whitestone Blvd. 30,961 VPD (2017)
2018 Avg. HH Income $94,757 $103,946 $105,562 Bagdad Rd. 12,299 VPD (2017)
2018 Median HH Income $83,601 $85,066 $85,046
REPRESENTATIVE PHOTO 17DISCLAIMER
In this disclaimer, “memorandum” refers to this marketing memorandum, “property” means the property described in this
memorandum, “you” means potential investors in the property, “Venture” means Venture Commercial Real Estate, LLC, and
“Venture Party” means Venture, the owner of the property, and any of their owners, employees, agents, representatives,
and associated companies. The term “information” means each of the statements, summaries, charts, drawings, maps,
projections, and other information contained in this memorandum (and also means all of such information collectively).
Venture has prepared and compiled this memorandum from various sources to provide you with
VENTURE COMMERCIAL preliminary, unverified information about the property. HOWEVER, THE INFORMATION IS FOR
8235 DOUGLAS AVENUE INFORMATIONAL PURPOSES ONLY, AND YOU MAY NOT RELY UPON THE INFORMATION FOR ANY PURPOSE.
SUITE 720
DALLAS, TEXAS 75225 Neither the preparation and compilation of the information nor the distribution of this memorandum will constitute a representation,
LET’S TALK express or implied, by any Venture Party regarding the information or the property. No Venture Party will be liable for any
misstatement, inaccuracy, or incompleteness of the information, or for updating the information to reflect new information, changes to
INVESTMENT SALES the property, or chances to any offer described in this memorandum. Finally, some of the information is subjective, and represents only
214.378.1212 opinions. By accepting this memorandum, you agree that the foregoing disclaimers will be binding, EVEN IF IT IS DETERMINED THAT
INVESTMENTSALES@VENTUREDFW.COM A VENTURE PARTY WAS NEGLIGENT IN PREPARING OR COMPILING THE INFORMATION OR IN DISTRIBUTING THIS MEMORANDUM.
This memorandum does not contain all of the information that a prudent investor should require in order to make an informed investment decision
about the property. BEFORE MAKING AN INVESTMENT DECISION, YOU SHOULD PERFORM AND RELY UPON YOUR OWN INSPECTIONS, TESTS,
AND OTHER DILIGENCE REGARDING THE PROPERTY, TAKING INTO ACCOUNT THE MERITS AND RISKS INVOLVED.
Finally, this memorandum does not constitute an offer for sale or lease or create any legal obligation on the part of any Venture Party. THE OWNER
OF THE PROPERTY RESERVES THE UNCONDITIONAL, ABSOLUTE RIGHT, EVEN FOLLOWING RECEIPT OF AN OFFER, TO CHANGE ANY PRICE
OR OTHER TERMS DESCRIBED IN THIS
MEMORANDUM AND TO WITHDRAW THE PROPERTY FROM THE MARKET, WITHOUT NOTICE.You can also read
