PHILIP LEVY SENIOR MANAGING DIRECTOR - OFFERING MEMORANDUM - LoopNet
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PHILIP LEVY
972.755.5225
SENIOR MANAGING DIRECTOR
PLEVY@MARCUSMILLICHAP.COM
OFFERING MEMORANDUM
TABLE OF CONTENTS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
Confidentiality & Disclaimer Contents
The information contained in the following Marketing Brochure is proprietary and strictly PROPERTY INFORMATION 3
confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap
and should not be made available to any other person or entity without the written consent of LOCATION INFORMATION 7
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified FINANCIAL ANALYSIS 13
information to prospective purchasers, and to establish only a preliminary level of interest in the
subject property. The information contained herein is not a substitute for a thorough due SALE COMPARABLES 18
diligence investigation. Marcus & Millichap has not made any investigation, and makes no
RENT COMPARABLES 25
warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the DEMOGRAPHICS 30
property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the
improvements thereon, or the financial condition or business prospects of any tenant, or any
tenant’s plans or intentions to continue its occupancy of the subject property. The information
contained in this Marketing Brochure has been obtained from sources we believe to be reliable;
however, Marcus & Millichap has not verified, and will not verify, any of the information contained
herein, nor has Marcus & Millichap conducted any investigation regarding these matters and
makes no warranty or representation whatsoever regarding the accuracy or completeness of the
information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.
Non-Endorsement Notice
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or
lessee identified in this marketing package. The presence of any corporation’s logo or name is not
intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation
of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial
listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS
2
Section 1 PROPERTY INFORMATION
PROPERTY INFORMATION | EXECUTIVE SUMMARY
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
OFFERING SUMMARY PROPERTY OVERVIEW
Sale Price: $3,669,000 Marcus & Millichap is pleased to present the opportunity to acquire Roanoke Corners, consisting of two multi-tenant retail buildings
totaling 14,218 square feet in the growing Dallas-Fort Worth suburb of Roanoke, Texas.
Cap Rate: 7.25% DEMOGRAPHICS
1 MILE 3 MILES 5 MILES
NOI: $266,002
Total Households 3,191 10,169 24,623
Lot Size: 2.21 Acres Total Population 9,119 27,869 72,189
Average HH Income $133,103 $130,334 $143,439
Year Built: 2001
Building Size: 14,218
Price / SF: $258.05
4
PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SALE HIGHLIGHTS
• Two Multi-Tenant Retail Buildings | In Line with Former Albertson’s Grocery Store
• 100% Occupied | All Leases are Triple-Net
• Internet-Resistant Tenant Base
• Situated on 2.21 Acres | Large Concrete Parking Lot
• Signalized, Hard Corner Highway Location with Multiple Ingress and Egress Points
• Traffic Counts are Approximately 21,330 Vehicles per Day on US Highway 377 and
34,000 Vehicles per Day on TX Highway 114
• Dense Retail in the Surrounding Area, Including Walmart, The Home Depot, Dollar
Tree, Chili's Grill and Bar, and PetSmart
• Extremely Affluent Area | Average Household Income within Five Miles is $138,018 |
More than 72,850 Residents within Five Miles
• Large Employers Increase Roanoke's Daytime Population to more than 60,000 within a
Three-Mile Radius
• Short Distance from Historic Downtown Roanoke | Popular Destination with Unique
Dining, Boutique Shops, and Entertainment Venues | Appointed by the Texas House of
Representative as "The Unique Dining Capital of Texas"
• Roanoke is Located in a High Growth Corridor of North Fort Worth
• Conveniently Located Between the Dallas-Fort Worth International Airport (Fourth
Largest International Airport in the World) and the Fort Worth Alliance Airport, the
Cornerstone for the Nation's Fastest-Growing Industrial Complex (Alliance Global
Logistics Hub)
5
PROPERTY INFORMATION | PROPERTY DESCRIPTION
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
PROPERTY OVERVIEW
Roanoke Corners is comprised of two multi-tenant retail buildings totaling 14,218 square feet in the growing
Dallas-Fort Worth suburb of Roanoke, Texas. Constructed in 2001, the buildings are situated on 2.21 acres and are
in line with a former Albertson’s grocery store that is currently vacant. The subject property is 100 percent
occupied, and all leases are triple-net. The internet-resistant tenant base consists of Roanoke Nails, AT&T, Cinch
Cleaners, Affinity Dental, Rise Men's Health, Donut Paradise, and Liquor Stop.
LOCATION OVERVIEW
The subject property is located on the signalized hard corner of US Highway 377 and Texas Highway 114, with
multiple ingress and egress points from both highways. Traffic counts are approximately 21,330 vehicles per day on
US Highway 377 and 34,000 vehicles per day on Texas Highway 114. Numerous national and regional tenants are in
the surrounding area, including Sherwin-Williams, Papa John’s Pizza, McDonald’s, Starbucks, Christian Brothers
Automotive, The Home Depot, Walmart Supercenter, Chili’s Grill and Bar, Pizza Hut, Pep Boys Auto Service, Wells
Fargo Bank, Chase Bank, PetSmart, Dollar Tree, Sonic Drive-In, Anytime Fitness, MetroPCS, GameStop, Subway,
Sally Beauty Supply, AutoZone, National Tire and Battery, CVS, Aldi, Chick-fil-A, Discount Tire, Tractor Supply Co.,
and many others.
The surrounding area is highly affluent with a five-mile average household income of $138,018 and a population
exceeding 72,850 residents. Historic Downtown Roanoke is a short distance from the property, a popular
destination for dining, boutique shopping, and entertainment over nine blocks of recently redeveloped Oak Street.
The Texas House of Representatives have officially appointed the area as "The Unique Dining Capital of Texas".
Roanoke is two miles south of Grapevine Lake and seventeen miles southwest of Denton in south central Denton
County. It is located in an exciting growth corridor of north Fort Worth that has experienced a surge in residential
and commercial expansion over the last ten years. The main east-west road through town, State Highway 114
Business, is named "Byron Nelson Boulevard" in honor of the golfer who resided in the community.
6
Section 2 LOCATION INFORMATION
LOCATION INFORMATION | REGIONAL MAP
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
Roanoke Corners
8
LOCATION INFORMATION | LOCATION MAPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
9
LOCATION INFORMATION | AERIAL MAPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
10LOCATION INFORMATION | AERIAL MAPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
11LOCATION INFORMATION | AERIAL MAPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
12Section 3 FINANCIAL ANALYSIS
FINANCIAL ANALYSIS | FINANCIAL SUMMARY
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
INVESTMENT OVERVIEW
Price $3,669,000
Price per SF $258.05
CAP Rate 7.25 %
Total Return (yr 1) $266,002
OPERATING DATA
Gross Income $424,905
Operating Expenses $158,903
Net Operating Income $266,002
FINANCING DATA
Down Payment $3,669,000
Loan Type All Cash
14FINANCIAL ANALYSIS | INCOME & EXPENSES
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
INCOME SUMMARY PER SF
* Base Rent $267,538 $18.82
Real Estate Taxes Reimbursements $62,511 $4.40
Insurance Reimbursements $11,358 $0.80
Common Area Maintenance Reimbursements $72,434 $5.09
Management Fee Reimbursements $11,064 $0.78
Gross Income $424,905 $29.89
EXPENSE SUMMARY PER SF
Real Estate Taxes $62,511 $4.40
Insurance $11,358 $0.80
Utilities $22,617 $1.59
Repairs & Maintenance $7,961 $0.56
Landscaping Contract $14,434 $1.02
Contract Cleaning $10,457 $0.74
Waste Removal $6,829 $0.48
Alarm Monitoring $10,136 $0.71
Management Fee $12,600 $0.89
Gross Expenses $158,903 $11.18
Net Operating Income $266,002 $18.71
*Base Rent is based on the future base rent of $267,538 as of 11/01/19.
15FINANCIAL ANALYSIS | RENT ROLL
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
TENANT UNIT UNIT % OF LEASE LEASE ANNUAL ESC PRICE LEASE EXPENSE
NAME NUMBER SIZE (SF) GLA START END RENT DATE PER YEAR TYPE OPTION REIMBURSEMENT
Roanoke Nails 101 2,625 18.46 8/01/11 3/31/22 $50,813 $19.36 NNN None $29,333.49
4/1/2021 $19.64
AT&T 102 1,733 12.19 6/14/01 6/30/22 $39,860 $23.00 NNN (1) 3-Yr @ $23.00 $17,834.34
Cinch Cleaners (1) 104 986 6.93 6/05/11 8/331/24 $15,776 $16.00 NNN (1) 5-Yr @ $18.00 $11,011.98
Affinity Dental (1) (2) 106 3,295 23.17 3/02/09 10/31/27 $59,310 $18.00 NNN (2) 5-Yr $36,674.81
11/1/2020 $18.50
11/1/2021 $19.00
11/1/2022 $19.50
11/1/2023 $20.00
11/1/2024 $20.50
11/1/2025 $21.00
11/1/2026 $21.50
Rise Men's Health (1) 200 2,094 14.73 10/01/18 9/30/21 $39,780 $19.00 NNN (4) 3-Yr @ Mkt $23,406.41
Donut Paradise (1) 203 1,000 7.03 6/14/01 6/30/21 $22,000 $22.00 NNN None $11,170.88
(1) Leases have a Personal Guarantee.
(2) Tenant has a Right of First Refusal to purchase the property.
*Total Annual Rent is based on the future base rent of $267,538 as of 11/01/19.
16FINANCIAL ANALYSIS | RENT ROLL
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
TENANT UNIT UNIT % OF LEASE LEASE ANNUAL ESC PRICE LEASE EXPENSE
NAME NUMBER SIZE (SF) GLA START END RENT DATE PER YEAR TYPE OPTION REIMBURSEMENT
Liquor Stop 204 2,500 17.58 8/06/11 8/31/21 $40,000 $16.00 NNN (1) 3-Yr @ $16.00 $27,935.15
(1) 5-Yr @ Mkt
Totals/Averages 14,218 $267,539 $18.80 $157,367.06
(1) Leases have a Personal Guarantee.
(2) Tenant has a Right of First Refusal to purchase the property.
*Total Annual Rent is based on the future base rent of $267,538 as of 11/01/19.
17Section 4 SALE COMPARABLES
SALE COMPARABLES | SALE COMPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY
1104 & 1112 North US Highway 377 | Roanoke, TX 76262
Sale Price: $3,669,000 Lot Size: 2.21 AC
Year Built: 2001 Building SF: 14,218 SF
Price PSF: $258.05 Cap: 7.25%
NOI: $266,002
KROGER SHADOW-ANCHORED RETAIL CENTER
1
3680 SH 121 | Plano, TX 75025
Sale Price: $4,060,000 Lot Size: 0.99 AC 1
Year Built: 2017 Building SF: 8,957 SF
Price PSF: $453.28 CAP: 5.7%
Closed: 06/13/2018 Occupancy: 100%
Dental Studio 121, Cozy Nail Spa, Saalna
FREDDY'S FROZEN CUSTARD RETAIL CENTER
2
5101 State Highway 121 | The Colony, TX 75056
Sale Price: $5,697,000 Lot Size: 1.37 AC 2
Year Built: 2015 Building SF: 10,149 SF
Price PSF: $561.34 CAP: 6.25%
Closed: 08/21/2015 Occupancy: 100%
Freddy's Frozen Custard, LIV Dentistry, Navy Federal Credit Union
19SALE COMPARABLES | SALE COMPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
WILLOW BEND CROSSING
3
1855 Dallas Parkway | Plano, TX 75093
Sale Price: $8,100,000 Lot Size: 2.12 AC 3
Year Built: 2015 Building SF: 14,555 SF
Price PSF: $556.51 CAP: 6.32%
Closed: 09/03/2015 Occupancy: 100%
Shell Shack, Jersey Mike's Subs, Salata, Wok Box, Torchy's Tacos
LUCAS VILLAGE
4
501 South Angel Parkway | Allen, TX 75002
Sale Price: $3,660,000 Lot Size: 1.32 AC 4
Year Built: 2018 Building SF: 8,218 SF
Price PSF: $445.36 CAP: 6.34%
Closed: 02/01/2019 Occupancy: 100%
Hubler Dental, Oasis Nail Spa, Choy Dental
SPORTS VILLAGE PLAZA
5
6065 Sports Village Road | Frisco, TX 75033
Sale Price: $6,525,000 Lot Size: 1.9 AC 5
Year Built: 2013 Building SF: 18,323 SF
Price PSF: $356.11 CAP: 6.51%
Closed: 07/13/2018 Occupancy: 100%
Foley Custom Pools, Low T Center, Dickey's BBQ, Durkin's Pizza, Her Kare
20SALE COMPARABLES | SALE COMPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
HULEN CROSSING
6
8615 South Hulen Street | Fort Worth, TX 76123
Sale Price: $1,775,000 Lot Size: 1.09 AC 6
Year Built: 2006 Building SF: 9,730 SF
Price PSF: $182.43 CAP: 6.58%
Closed: 07/09/2018 Occupancy: 84%
Hulen Crossing Family Dental, Little Caesar's, Nail Salon and Spa, Cleaner's
Corner
EDMONDS PLAZA EAST AND WEST
7
771 West Round Grove Road | Lewisville, TX 75067
Sale Price: $4,450,000 Lot Size: 1.86 AC 7
Year Built: 2014 Building SF: 15,500 SF
Price PSF: $287.10 CAP: 6.59%
Closed: 11/15/2018 Occupancy: 100%
Park Dental, The Liquor Outpost, Victoria Nail Bar, Burgerim
21SALE COMPARABLES | SALE COMPS SUMMARY
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
Roanoke Corners
1104 & 1112 North US Highway 377 $3,669,000 14,218 SF $258.05 7.25%
Roanoke, TX 76262
SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE
1 Kroger Shadow-Anchored Retail
Center
$4,060,000 8,957 SF $453.28 5.7% 06/13/2018
3680 SH 121
Plano, TX 75025
2
Freddy's Frozen Custard Retail
Center
$5,697,000 10,149 SF $561.34 6.25% 08/21/2015
5101 State Highway 121
3 The Colony, TX 75056
Willow Bend Crossing
1855 Dallas Parkway $8,100,000 14,555 SF $556.51 6.32% 09/03/2015
4 Plano, TX 75093
Lucas Village
501 South Angel Parkway $3,660,000 8,218 SF $445.36 6.34% 02/01/2019
5 Allen, TX 75002
Sports Village Plaza
6065 Sports Village Road $6,525,000 18,323 SF $356.11 6.51% 07/13/2018
6 Frisco, TX 75033
Hulen Crossing
8615 South Hulen Street $1,775,000 9,730 SF $182.43 6.58% 07/09/2018
Fort Worth, TX 76123
22SALE COMPARABLES | SALE COMPS SUMMARY
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
7 Edmonds Plaza East and West
771 West Round Grove Road $4,450,000 15,500 SF $287.10 6.59% 11/15/2018
Lewisville, TX 75067
PRICE BLDG SF PRICE/SF CAP CLOSE
Totals/Averages $4,895,286 12,205 SF $401.09 6.33%
23SALE COMPARABLES | SALE COMPS MAP
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY
1104 & 1112 North US Highway 377 | Roanoke, TX 76262
KROGER SHADOW-ANCHORED FREDDY'S FROZEN CUSTARD WILLOW BEND CROSSING LUCAS VILLAGE
1 RETAIL CENTER 2 RETAIL CENTER 3 1855 Dallas Parkway 4 501 South Angel Parkway
3680 SH 121 5101 State Highway 121 Plano, TX 75093 Allen, TX 75002
Plano, TX 75025 The Colony, TX 75056
SPORTS VILLAGE PLAZA HULEN CROSSING EDMONDS PLAZA EAST AND WEST
5 6065 Sports Village Road 6 8615 South Hulen Street 7 771 West Round Grove Road
Frisco, TX 75033 Fort Worth, TX 76123 Lewisville, TX 75067
24Section 5 RENT COMPARABLES
RENT COMPARABLES | RENT COMPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY
1104 & 1112 North US Highway 377 | Roanoke, TX 76262
Lease Rate: $19.23 SF/YR Lease Type: NNN
Space Size: 0 SF Year Built: 2001
Lot Size: 2.21 AC
200-204 EAST HIGHWAY 114
1
Roanoke, TX 76262
Lease Rate: $21.75 SF Lease Type: NNN 1
Space Size: SF Year Built: 2004
Bldg Size: 12,650 SF Lot Size: 1.27 AC
Occupancy: 100%
Sherwin-Williams, 6 Day Dental & Orthodontics
1224 NORTH HIGHWAY 377
2
Roanoke, TX 76262
Lease Rate: $23.00 SF Lease Type: NNN 2
Space Size: 5,904 SF Year Built: 2003
Bldg Size: 53,645 SF Lot Size: 4.01 AC
Occupancy: 89%
Subway, Dickey's BBQ, Verizon, Gamestop, Anytime Fitness, Dentist
26RENT COMPARABLES | RENT COMPS
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
295 WEST BYRON NELSON BOULEVARD
3
Roanoke, TX 76262
Lease Rate: $23.00 SF Lease Type: NNN 3
Space Size: SF Year Built: 2016
Bldg Size: 19,037 SF Lot Size: 3.88 AC
Occupancy: 100%
Benjamin's Pizza, West Dental Care, Yumilicious, Jazzercise, Martial Arts
105 COUNTRY VIEW DRIVE
4
Roanoke, TX 76262
Lease Rate: $35.00 SF Lease Type: NNN 4
Space Size: 1,200 SF Year Built: 2017
Bldg Size: 8,000 SF Lot Size: 1.09 AC
Occupancy: 85%
Starbucks, Griff's Ace Grooming & Shave Bar
27RENT COMPARABLES | RENT COMPS SUMMARY
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Roanoke Corners
1104 & 1112 North US Highway 377 $19.23 SF/yr (NNN) 0 SF 14,218 SF 100.0%
Roanoke, TX 76262
RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
1 Roanoke Corners
200-204 East Highway 114 $21.75 - 12,650 SF 100%
Roanoke, TX 76262
2 Roanoke Crossing
1224 North Highway 377 $23.00 5,904 SF 53,645 SF 89%
Roanoke, TX 76262
3 Cannon Crossing
295 West Byron Nelson Boulevard $23.00 - 19,037 SF 100%
Roanoke, TX 76262
4 Starbucks Strip
105 Country View Drive $35.00 1,200 SF 8,000 SF 85%
Roanoke, TX 76262
PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Totals/Averages $25.69 3,552 SF 23,333 SF 93.5%
28RENT COMPARABLES | RENT COMPS MAP
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
SUBJECT PROPERTY
1104 & 1112 North US Highway 377 | Roanoke, TX 76262
ROANOKE CORNERS ROANOKE CROSSING CANNON CROSSING STARBUCKS STRIP
1 200-204 East Highway 114 2 1224 North Highway 377 3 295 West Byron Nelson Boulevard 4 105 Country View Drive
Roanoke, TX 76262 Roanoke, TX 76262 Roanoke, TX 76262 Roanoke, TX 76262
29Section 6 DEMOGRAPHICS
DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT
Roanoke Corners
1104 & 1112 North US Highway 377, Roanoke, TX 76262
POPULATION 1 MILE 3 MILES 5 MILES
Total Population 9,119 27,869 72,189
Median age 36.3 37 36.1
Median age (Male) 35.5 36.4 35.6
Median age (Female) 37.1 37.7 36.6
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 3,191 10,169 24,623
# of persons per HH 2.7 2.6 2.9
Average HH income $133,103 $130,334 $143,439
Average house value $383,778 $362,769 $338,062
ETHNICITY (%) 1 MILE 3 MILES 5 MILES
Hispanic 17.9% 13.2% 12.8%
RACE 1 MILE 3 MILES 5 MILES
% White 90.0% 89.5% 861.7%
% Black 3.4% 3.8% 5.1%
% Asian 3.1% 3.6% 5.8%
% Hawaiian 0.2% 0.2% 0.1%
% American Indian 1.0% 0.9% 0.7%
% Other 2.2% 2.1% 2.3%
* Demographic data derived from CoStar
31INFORMATION ABOUT BROKERAGE SERVICES
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. 11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS:
• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.
• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
• Put the interests of the client above all others, including the broker’s own interests;
• Inform the client of any material information about the property or transaction received by the broker;
• Answer the client’s questions and present any offer to or counter-offer from the client; and
• Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property
management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known
by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent
must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed
to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written
agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
• Must treat all parties to the transaction impartially and fairly;
• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to,
and carry out the instructions of each party to the transaction.
• Must not, unless specifically authorized in writing to do so by the party, disclose:
that the owner will accept a price less than the written asking price;
that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent
the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please
acknowledge receipt of this notice below and retain a copy for your records.
Marcus & Millichap 9002994 tim.speck@marcusmillichap.com 972-755-5200
Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Tim A. Speck 432723 tim.speck@marcusmillichap.com 972-755-5200
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Buyer/Tenant/Seller/Landlord Initials Date
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0PHILIP LEVY Senior Managing Director Dallas Office 972.755.5225 Office 817.380.1153 Fax plevy@marcusmillichap.com LICENSE: TX 0522087 5001 Spring Valley Road Dallas, TX 75244
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