PHILIP LEVY SENIOR MANAGING DIRECTOR - OFFERING MEMORANDUM - Levy Retail Group
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
PHILIP LEVY
972.755.5225
SENIOR MANAGING DIRECTOR
PLEVY@MARCUSMILLICHAP.COM
OFFERING MEMORANDUM
TABLE OF CONTENTS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
Confiden ality & Disclaimer Contents
The informa on contained in the following Marke ng Brochure is proprietary and strictly PROPERTY INFORMATION 3
confiden al. 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 en ty without the wri en consent of LOCATION INFORMATION 7
Marcus & Millichap. This Marke ng Brochure has been prepared to provide summary, unverified
informa on to prospec ve purchasers, and to establish only a preliminary level of interest in the FINANCIAL ANALYSIS 12
subject property. The informa on contained herein is not a subs tute for a thorough due
diligence inves ga on. Marcus & Millichap has not made any inves ga on, and makes no SALE COMPARABLES 18
warranty or representa on, 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 RENT COMPARABLES 24
property and improvements, the presence or absence of contamina ng substances, PCB's or
asbestos, the compliance with State and Federal regula ons, the physical condi on of the DEMOGRAPHICS 29
improvements thereon, or the financial condi on or business prospects of any tenant, or any
tenant’s plans or inten ons to con nue its occupancy of the subject property. The informa on
contained in this Marke ng Brochure has been obtained from sources we believe to be reliable;
however, Marcus & Millichap has not verified, and will not verify, any of the informa on
contained herein, nor has Marcus & Millichap conducted any inves ga on regarding these
ma ers and makes no warranty or representa on whatsoever regarding the accuracy or
completeness of the informa on provided. All poten al buyers must take appropriate measures
to verify all of the informa on set forth herein.
Non-Endorsement No ce
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or
lessee iden fied in this marke ng package. The presence of any corpora on’s logo or name is not
intended to indicate or imply affilia on with, or sponsorship or endorsement by, said corpora on
of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial
lis ng of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
informa on about this lis ng to prospec ve customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS
Special COVID-19 No ce
All poten al buyers are strongly advised to take advantage of their opportuni es and obliga ons
to conduct thorough due diligence and seek expert opinions as they may deem necessary,
especially given the unpredictable changes resul ng from the con nuing COVID-19 pandemic.
Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on
behalf of any prospec ve purchaser. Marcus & Millichap’s principal exper se is in marke ng
investment proper es and ac ng as intermediaries between buyers and sellers. Marcus &
Millichap and its investment professionals cannot and will not act as lawyers, accountants,
contractors, or engineers. All poten al buyers are admonished and advised to engage other
professionals on legal issues, tax, regulatory, financial, and accoun ng ma ers, and for ques ons
involving the property’s physical condi on or financial outlook. Projec ons and pro forma
financial statements are not guarantees and, given the poten al vola lity created by COVID-19,
all poten al buyers should be comfortable with and rely solely on their own projec ons, analyses,
and decision-making.
2
Sec on 1 PROPERTY INFORMATION
PROPERTY INFORMATION | EXECUTIVE SUMMARY
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
OFFERING SUMMARY PROPERTY OVERVIEW
Sale Price: $2,798,000 Marcus & Millichap is pleased to present the opportunity to acquire a stabilized 13,800-square foot, mul -tenant retail
Building Size: 13,800 SF center that is well-posi oned in a dense retail trade area of San Angelo, Texas. Walmart Plaza is shadow-anchored by
Lot Size: 1.199 Acres Walmart Supercenter and is 100 percent occupied with a mix of na onal and regional retailers.
Price / SF: $202.75
Cap Rate: 7.5%
NOI: $209,824 DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
Year Built: 1995 Total Households 2,877 14,953 26,568
Total Popula on 6,247 34,469 65,040
Average HH Income $69,328 $78,483 $73,379
4
PROPERTY INFORMATION | PROPERTY DESCRIPTION
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
PROPERTY DESCRIPTION
Marcus & Millichap is pleased to offer the opportunity to acquire a 13,800-square foot,
Walmart shadow-anchored, mul -tenant retail center located in a prime retail trade area of
San Angelo, Texas. The center is currently 100 percent occupied, and all leases are triple-
net. Tenants consist of a complementary mix of na onal and regional retailers including
Dollar Tree, Sally Beauty Supply, Cash Store, and West Central Wireless. The center was
constructed in 1995 and is situated on a 1.199-acre lot.
LOCATION DESCRIPTION
The subject property is strategically located on Southland Boulevard near the signalized
intersec on of Southland Boulevard and Sherwood Way in a dense retail trade area. Traffic
counts in front of the property exceed 11,165 vehicles per day. The center is shadow-
anchored by Walmart Supercenter and in close proximity to many other na onal and
regional retailers including Lowes, Sam's Club, H-E-B Grocery, Chick-fil-A, Great Clips,
Orangetheory Fitness, Starbucks, Wendy's, Chevron, Dairy Queen, Academy Sports &
Outdoors, Best Buy, Tractor Supply Co., Target, Ross Dress for Less, PetCo, and more.
Walmart Plaza is located less than two miles from Sunset Mall. The mall is anchored by
Dillard's, JCPenney, Marshalls, and Bealls, featuring more than 70 other tenants. The
surrounding area has a five-mile popula on of 65,040 residents.
San Angelo is located in the Concho Valley, a region in West Texas between the Permian
Basin, Chihuahuan Dessert, Osage Plains and Central Texas. The city is located in and the
county seat of Tom Green County. San Angelo is home to Angelo State University, a
member of the Texas Tech University System. The university is located less than three miles
from the property and has an enrollment of approximately 10,000 students.
5
PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
BUILDING INFORMATION
Occupancy % 100.0%
Tenancy Mul ple
Year Built 1995
County Tom Green
Ownership Type Fee Simple
PROPERTY HIGHLIGHTS
13,800-Square Foot, Mul -Tenant Retail Center | 100% Occupied | All Leases are
Triple-Net
Shadow-Anchored by Walmart Supercenter | Neighboring Pad Sites Include Starbucks,
Wendy's, Stripes Convenience Store and Chevron
Strong Tenant Base Consis ng of Mix of Na onal and Regional Retailers
Dollar Tree (NASDAQ: DLTR) and Sally Beauty Supply (NYSE: SBH) are Publicly-Traded
Companies
Current Average Rents are Below Market
Constructed in 1995 | Situated on a 1.199-Acre Parcel
Located in the City's Primary Retail Trade Corridor on Southland Boulevard, One Block
from the Signalized Intersec on with Sherwood Way
Close Proximity to Traffic Drivers Such as Lowes, Sam's Club, H-E-B Grocery, Chick-fil-
A, Starbucks, Academy Sports & Outdoors, Best Buy, Tractor Suppy Co., Target, Ross
Dress for Less, PetCo, and More
Less than Two Miles from Sunset Mall | Anchored by Dillard's, JCPenney, Marshalls, and
Bealls | 70+ Tenants
Less Than Three Miles from Angelo State University, a Member of the Texas Tech
University System | Student Enrollment is Approximately 10,000
Five-Mile Popula on Exceeds 65,000 Residents
San Angelo is the County Seat of Tom Green County
6
Sec on 2 LOCATION INFORMATION
LOCATION INFORMATION | REGIONAL MAP
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
Walmart Plaza
8
LOCATION INFORMATION | AERIAL MAP
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
9
LOCATION INFORMATION | AERIAL MAP
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
10LOCATION INFORMATION | AERIAL MAP
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
11Sec on 3 FINANCIAL ANALYSIS
FINANCIAL ANALYSIS | FINANCIAL SUMMARY
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
INVESTMENT OVERVIEW CURRENT
Price $2,798,000
Price per SF $202.75
CAP Rate 7.5 %
Total Return (yr 1) $209,824
OPERATING DATA CURRENT
Gross Income $254,633
Opera ng Expenses $44,809
Net Opera ng Income $209,824
FINANCING DATA CURRENT
Down Payment $2,798,000
Loan Type All Cash
13FINANCIAL ANALYSIS | INCOME & EXPENSES
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
INCOME SUMMARY CURRENT PER SF
Base Rent $213,119 $15.44
Sign Income $600 $0.04
Real Estate Taxes Reimbursements $19,944 $1.45
Insurance Reimbursements $4,890 $0.35
Common Area Maintenance/Management Reimbursements $16,080 $1.17
GROSS INCOME $254,633 $18.45
EXPENSE SUMMARY CURRENT PER SF
Real Estate Taxes $19,944 $1.45
Insurance $4,890 $0.35
U li es $2,922 $0.21
Repairs & Maintenance $4,802 $0.35
Landscaping $3,300 $0.24
Contract Labor $701 $0.05
Management Fee $8,250 $0.60
GROSS EXPENSES $44,809 $3.25
NET OPERATING INCOME $209,824 $15.20
14FINANCIAL ANALYSIS | RENT ROLL
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
EXPENSE LEASE
SUITE TENANT NAME UNIT SIZE (SF) % OF GLA LEASE START LEASE END ANNUAL RENT RENT/SF REIMBURSEMENT TYPE
A Cash Store 1,050 7.61% 4/1/2018 3/31/2023 $29,400.00 $28.00 $3,409.96 NNN
B Sally Beauty Supply 1,480 10.72% 8/1/2002 10/31/2023 $30,769.20 $20.79 $4,803.52 NNN
C Dollar Tree 8,280 60.00% 9/3/2002 12/31/2022 $93,150.00 $11.25 $22,990.65 NNN
D West Central Wireless 2,990 21.67% 1/1/2018 12/31/2022 $59,799.96 $20.00 $9,710.11 NNN
TOTAL 13,800 100% $213,119 $40,914
15FINANCIAL ANALYSIS | SITE PLAN
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
16FINANCIAL ANALYSIS | TENANT INFORMATION
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
DOLLAR TREE WEST CENTRAL WIRELESS
FOUNDED 1986 FOUNDED 1987
LOCATIONS 14,700+ LOCATIONS 20+
SQ. FT. 8,280 SQ. FT. 2,990
TENANT TRADE NAME DLTR (NASDAQ)
Dollar Tree Stores, Inc. is an American chain of discount variety stores that sells items for West Central Wireless is a local mobile phone provider serving Central and West Texas
$1.00 or less. Based in Chesapeake, Virginia, Dollar Tree Stores Inc. is a public company based in San Angelo, Texas
whose stock is traded on the NASDAQ under the symbol DLTR.
SALLY BEAUTY CASH STORE
FOUNDED 1964 FOUNDED 1996
LOCATIONS 5,000+ LOCATIONS 340
SQ. FT. 1,480 SQ. FT. 1,050
TENANT TRADE NAME SBH (NYSE)
Sally Beauty is an American retailer and distributor of professional beauty supplies. Based Cash Store, a Cottonwood Financial brand, is one of the largest privately held retail
in Denton, Texas, Sally Beauty Holdings is a public company whose stock is traded on the consumer finance companies in the United States.
New York Stock Exchange under the symbol SBH.
17Sec on 4 SALE COMPARABLES
SALE COMPARABLES | SALE COMPS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
SUBJECT PROPERTY
5150 Southland Boulevard | San Angelo, TX 76904
Sale Price: $2,798,000 Lot Size: 1.2 AC
Year Built: 1995 Building SF: 13,800 SF
Price PSF: $202.75 Cap: 7.5%
NOI: $209,824
JACKSON SQUARE
1
1101 Thorpe Lane | San Marcos, TX 78666
Sale Price: $4,075,000 Lot Size: 0.86 AC 1
Year Built: 1991 Building SF: 8,723 SF
Price PSF: $467.16 CAP: 6.78%
Closed: 05/28/2020 Occupancy: 100%
BONHAM RETAIL CENTER
2
2008 North Highway 121 | Bonham, TX 75418
Sale Price: $2,655,000 Lot Size: 1.321 AC 2
Year Built: 2017 Building SF: 8,168 SF
Price PSF: $325.05 CAP: 6.98%
Closed: 10/06/2020 Occupancy: 100%
19SALE COMPARABLES | SALE COMPS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
UPTOWN CENTER
3
613-617 Uptown Blvd | Cedar Hill, TX 75104
Sale Price: $5,100,000 Lot Size: 2.738 AC 3
Year Built: 2005 Building SF: 22,816 SF
Price PSF: $223.53 CAP: 6.98%
Closed: 12/16/2019 Occupancy: 100%
FORUM AT OLYMPIA PARKWAY
4
8124 Agora Parkway | Selma, TX 78154
Sale Price: $3,250,000 Lot Size: 0.82 AC 4
Year Built: 2003 Building SF: 7,020 SF
Price PSF: $462.96 CAP: 7.09%
Closed: 12/01/2020 Occupancy: 100%
BUDA TOWN CENTER
5
1567 Main Street | Buda, TX 78610
Sale Price: $3,750,000 Lot Size: 10.85 AC 5
Year Built: 2006 Building SF: 11,392 SF
Price PSF: $329.18 CAP: 7.25%
Closed: 08/28/2019 Occupancy: 100%
20SALE COMPARABLES | SALE COMPS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
NORTH 19TH STREET RETAIL
6
3601 North 19th Street | Waco, TX 76708
Sale Price: $1,625,000 Lot Size: 4.7 AC 6
Year Built: 2019 Building SF: 6,206 SF
Price PSF: $261.84 CAP: 7.27%
Closed: 02/25/2020 Occupancy: 100%
21SALE COMPARABLES | SALE COMPS SUMMARY
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
Walmart Plaza
5150 Southland Boulevard $2,798,000 13,800 SF $202.75 7.5%
San Angelo, TX 76904
SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE
1 Jackson Square
1 1101 Thorpe Lane $4,075,000 8,723 SF $467.16 6.78% 05/28/2020
San Marcos, TX 78666
2 Bonham Retail Center
2 2008 North Highway 121 $2,655,000 8,168 SF $325.05 6.98% 10/06/2020
Bonham, TX 75418
3 Uptown Center
3 613-617 Uptown Blvd $5,100,000 22,816 SF $223.53 6.98% 12/16/2019
Cedar Hill, TX 75104
4 Forum at Olympia Parkway
4 8124 Agora Parkway $3,250,000 7,020 SF $462.96 7.09% 12/01/2020
Selma, TX 78154
5 Buda Town Center
5 1567 Main Street $3,750,000 11,392 SF $329.18 7.25% 08/28/2019
Buda, TX 78610
6 North 19th Street Retail
6 3601 North 19th Street $1,625,000 6,206 SF $261.84 7.27% 02/25/2020
Waco, TX 76708
PRICE BLDG SF PRICE/SF CAP CLOSE
Totals/Averages $3,409,167 10,721 SF $317.99 7.06%
22SALE COMPARABLES | SALE COMPS MAP
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
SUBJECT PROPERTY
5150 Southland Boulevard | San Angelo, TX 76904
1 JACKSON SQUARE 2 BONHAM RETAIL CENTER 3 UPTOWN CENTER 4 FORUM AT OLYMPIA
1101 Thorpe Lane 2008 North Highway 121 613-617 Uptown Blvd PARKWAY
San Marcos, TX 78666 Bonham, TX 75418 Cedar Hill, TX 75104 8124 Agora Parkway
Selma, TX 78154
5 BUDA TOWN CENTER 6 NORTH 19TH STREET
1567 Main Street RETAIL
Buda, TX 78610 3601 North 19th Street
Waco, TX 76708
23Sec on 5 RENT COMPARABLES
RENT COMPARABLES | RENT COMPS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
SUBJECT PROPERTY
5150 Southland Boulevard | San Angelo, TX 76904
Lease Rate: N/A Space Size: 0 SF
Year Built: 1995 Bldg Size: 13,800 SF
Lot Size: 1.199 Acres No. Units:
100.0% Occupancy:
TBD
1
SHERWOOD POINTE
3315 Sherwood Way | San Angelo, TX 76904
1
Lease Rate: $16.40 SF/YR Lease Type: NNN
Space Size: 0 SF Year Built: 1976
Bldg Size: 13,440 SF Lot Size: 3.67 Acres
Occupancy: 100%
2
SHERWOOD SQUARE & SHERWOOD HEIGHTS
5770-5789 Sherwood Way | San Angelo, TX 76901
2
Lease Rate: $27.14 SF/YR Lease Type: NNN
Space Size: 1,425 SF Year Built: 2017
Bldg Size: 13,812 SF Lot Size: 1 Acres
Occupancy: 97%
25RENT COMPARABLES | RENT COMPS
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
3
SHERWOOD VILLAGE
4512-4556 Sherwood Way | San Angelo, TX 76901
3
Lease Rate: $26.00 SF/YR Lease Type: NNN
Space Size: 0 SF Year Built: 2006
Bldg Size: 15,407 SF Lot Size: 1.69 Acres
Occupancy: 100%
4
STARBUCKS | STANTON OPTICAL
5651 Sherwood Way | San Angelo, TX 76904
4
Lease Rate: $39.33 SF/YR Lease Type: NNN
Space Size: 0 SF Year Built: 2018
Bldg Size: 5,786 SF Lot Size: 0.954 Acres
Occupancy: 100%
26RENT COMPARABLES | RENT COMPS SUMMARY
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Walmart Plaza
5150 Southland Boulevard N/A 0 SF 13,800 SF 100.0%
San Angelo, TX 76904
RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Sherwood Pointe
1 3315 Sherwood Way $16.40 0 SF 13,440 SF 100%
San Angelo, TX 76904
Sherwood Square & Sherwood Heights
2 5770-5789 Sherwood Way $27.14 1,425 SF 13,812 SF 97%
San Angelo, TX 76901
Sherwood Village
3 4512-4556 Sherwood Way $26.00 0 SF 15,407 SF 100%
San Angelo, TX 76901
Starbucks | Stanton Op cal
4 5651 Sherwood Way $39.33 0 SF 5,786 SF 100%
San Angelo, TX 76904
PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
TOTALS/AVERAGES $27.22 1,425 SF 12,111 SF 99.25%
27RENT COMPARABLES | RENT COMPS MAP
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
SUBJECT PROPERTY
5150 Southland Boulevard | San Angelo, TX 76904
1 SHERWOOD POINTE 2 SHERWOOD SQUARE & 3 SHERWOOD VILLAGE 4 STARBUCKS | STANTON
3315 Sherwood Way SHERWOOD HEIGHTS 4512-4556 Sherwood Way OPTICAL
San Angelo, TX 76904 5770-5789 Sherwood Way San Angelo, TX 76901 5651 Sherwood Way
San Angelo, TX 76901 San Angelo, TX 76904
28Sec on 6 DEMOGRAPHICS
DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT
Walmart Plaza
5150 Southland Boulevard, San Angelo, TX 76904
POPULATION 1 MILE 3 MILES 5 MILES
Total Popula on 6,247 34,469 65,040
Average age 38.90 36.30 34.30
Average age (Male) 36.80 34.50 33.00
Average age (Female) 41.20 38.10 35.80
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 2,877 14,953 26,568
# of persons per HH 2.10 2.30 2.30
Average HH income $69,328 $78,483 $73,379
Average house value $182,925 $181,943 $164,030
ETHNICITY (%) 1 MILE 3 MILES 5 MILES
Hispanic 23.0% 26.8% 35.7%
RACE 1 MILE 3 MILES 5 MILES
% White 90.2% 91.0% 90.3%
% Black 4.0% 3.7% 4.8%
% Asian 2.9% 2.2% 1.7%
% Hawaiian 0.0% 0.1% 0.1%
% American Indian 0.6% 0.8% 1.0%
% Other 2.3% 2.1% 2.1%
* Demographic data derived from CoStar Realty Informa on Group
30INFORMATION 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
You can also read
