STNL CORPORATE AT&T WIRELESS - 3190 E. MAIN STREET, UVALDE, TX 78801 - Subject Property
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STNL CORPORATE AT&T WIRELESS
3190 E. MAIN STREET, UVALDE, TX 78801
Subject Property
1901 Avenue of the Stars, Suite 630 | Los Angeles, CA 90067 | Broker BRE License No. 01961545 | PegasusInvestments.com
BRAND NEW 2016 PROTOTYPE BUILDING
IMMEDIATELY INVESTED $30K+ IN FAÇADE
Subject Property
1901 Avenue of the Stars, Suite 630 | Los Angeles, CA 90067 | Broker BRE License No. 01961545 | PegasusInvestments.com
DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be
reviewed only by the party receiving it from Pegasus Investments and should not be made available to any other person or
entity without the written consent of Pegasus Investments. This Offering Memorandum has been prepared to provide
summary, unverified 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 diligence investigation. Pegasus Investments
has not made any investigation, and makes no 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 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 of the business prospects of any
tenants, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this
Offering Memorandum has been obtained from sources we believe to be reliable; however, Pegasus Investments has not
verified, and will not verify, any of the information contained herein, nor has Pegasus Investments 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.
AT&T Marketing Team:
Brian Wolfman Daylin Ackerman Kevin Catalani
Senior Associate Associate Vice President
P (310) 691-1350 x107 P (310) 691-1350 x114 P (210) 841-3237
bwolfman@PegasusInvestments.com dackerman@PegasusIvestments.com kcatalani@reatares.com
1901 Avenue of the Stars, Suite 630 | Los Angeles, CA 90067 | Broker BRE License No. 01961545 | PegasusInvestments.com
AERIAL VIDEO
CLICK HERE FOR PROPERTY VIDEO
Subject Property
LOCATED ALONG US HIGHWAY 90
THE MAJOR THOROUGHFARE BETWEEN UVALDE AND SAN ANTONIO
SUBJECT
OUTPARCEL TO WALMART SUPERCENTER
WALMART OPENED 2005, REMODELED IN 2013
Subject Property
CORPORATE GUARANTEED LEASE
NEW CINGULAR WIRELESS PCS, LLC
Subject Property
INVESTMENT HIGHLIGHTS
Single Tenant AT&T (Uvalde, TX)
Investment Highlights Location Highlights Tenant Highlights
▪ Corporate Guaranteed Lease. ▪ #1 Retail Corner. Located at one ▪ AT&T Wireless. Currently in the
New Cingular Wireless PCS, LLC is of the best retail corner in all of process of acquiring Time Warner,
the corporate entity that signs all Uvalde, TX. AT&T is considered a best in class
of AT&T’s Corporate retail locations wireless carrier and is the dominant
▪ Multiple Points of Access. The
in US. wireless carrier in Uvalde, TX.
property benefits from dual
▪ Façade recently upgraded to ingress/egress points from US ▪ New Cingular Wireless PCS, LLC.
latest prototype. Despite brand Highway 90. The tenant is a subsidiary of AT&T
new, ground up construction Mobility, LLC, the second largest
▪ Walmart Anchor. The Walmart
completed in 2016, the tenant provider of mobile communications
Supercenter is the most dominant
invested an additional $30,000 services in the United States, with
anchor in all of Uvalde. The
upgrading to the newest more than 128 million customers and
subject property is strategically
generation of AT&T Wireless retail nearly $73 billion in revenues.
located as a prominent outparcel.
stores shortly after opening.
▪ AT&T “Strong” Investment Grade
▪ Limited Competition. The
▪ Relocation Store. AT&T previously Rating. Rated by S&P, Moody’s and
property benefits from the limited
operated in the adjacent strip Fitch as “Strong” investment grade
competition in the Uvalde market.
center but relocated to this build- tenant.
to-suit location to accommodate ▪ Excellent Access & Visibility.
additional space warranted by the Strategically built to maximize the
stores outstanding performance. use and access of the corner
location, the property benefits
▪ Highly Flexible Building. Property
from tremendous presence.
is set up for easy conversion to
alternative use (e.g. drive-thru ▪ Outparcel with limited
retail) in the unlikely event the Restrictions. Rare outparcel to
tenant ever vacates - building size Walmart-anchored retail power
and dimensions are highly sought center with limited to no use
after among leading retailers. restrictions.
Pricing Summary Purchase Price $2,435,400 [6.25% Cap.] Net Operating Income [2017] $152,212.50/year + NNN Increases 10% increase of base rent every 5 years Next Increase 4/1/2021 Lease Term 9 years (expires 3/31/2026) Options (2) 5-year, subject to increases Lease Structure NN (see lease summary on page 11) Building / Lot Size / Year Built ~4,510 SF / ~0.71 acres / 2016 AT&T Guaranty New Cingular Wireless PCS, LLC (Corporate) Address 3190 E. Main Street Uvalde, TX 78801 [Google map link]
STRATEGIC OUTPARCEL LOCATION ONLY WALMART WITHIN A 40+ MILE RADIUS
LEASE SUMMARY
TENANT: New Cingular Wireless PCS, LLC
AT&T DESIGNATION: AT&T Mobility (Corporate)
LEASE TYPE: NN
(see Landlord Repairs below)
COMMENCEMENT DATE: March 28, 2016
EXPIRATION DATE: March 31, 2026
RENTABLE SF: ~4,510 SF
ADMINISTRATIVE FEE 5% of CAM charges
(CAM Cap of 5% on “Controllable Expenses”)
OPTIONS: (2) 5-year options
INCREASES: 10% every 5 years
Roof, Structure, Landscaping &
LANDLORD REPAIRS:
HVAC replacement
Subject Property *New construction with transferable warrantiesPERFORMANCE BASED TENANT RELOCATION
BRAND NEW 2015 BUILD-TO-SUIT WITH UPGRADES IN 2016
Subject PropertyTENANT OVERVIEW
Corporate Structure: Public
Ticker: (NYSE: T)
Market Cap: $252.23 B
U.S. Store Count: 16,000+
Geographic Footprint: International
www.AT&T.com
AT&T is an industry leading provider of
mobile services, television, high speed
internet and smart solutions for people and
businesses. In North America, AT&T
provides high-speed mobile internet to
over 365 million people and they are
currently the largest provider of pay TV in
the United States with over 25 million
subscribers. On a global scale, their IP
network connect businesses on 6
continents representing 99% of the world’s
economy. Their advanced business services
serve nearly 3.5million business and include
nearly all of the Fortune 1000. Lead by
Chairman and CEO Randall L. Stephenson,
AT&T reported $146.8 billion in
consolidated revenue for 2015.
Obligations of AT&T Inc. are rated as
strong, investment grade by Standard &
Poor’s, Moody’s Investor Services and Fitch
Ratings. New Cingular Wireless PCS, LLC
had an equity balance in the billions as of
December 2015.
Representative PhotoLOCATION OVERVIEW HTTP://WWW.VISITUVALDE.COM/INDEX.HTML Located at the crossroads of US Highway 90 and US Highway 83, Uvalde is the county seat of Uvalde County, just 82 miles west (via US Highway 90) of San Antonio, Texas. Uvalde was founded by Reading Wood Black in 1853 as the town of Encina. In 1856, when the county was organized, the town was renamed Uvalde after Spanish governor Juan de Ugalde (Cádiz, Andalucía, 1729-1816) and was chosen as county seat. It is usually considered the southern limit of the Texas Hill Country or the most northerly part of South Texas. Historically, Uvalde is known as the Honey Capital of the World for production of huajillo (also spelled guajillo) honey, a mild, light-colored honey, dating back to the 1870s. Uvalde was the home of John Nance “Cactus Jack” Garner, former Speaker of the House and Vice President of the United States. Oscar- winning actor Matthew McConaughey, actress Dale Evans, and former Governor of Texas Dolph Briscoe (after whom the post office is named), were born in Uvalde.
REGIONAL MAP
2000 2010 2016 2021
Population Growth
Census Census Estimate Projection Round Rock
Trade Area Population Growth 46,912 47,969 49,876 52,072
Rate of Population Growth +2.2% +3.9% 4.4%
Average Household Income $53,052 Austin
Median Age 36.0 yrs.
San Marcos
San Antonio
SUBJECT
UvaldeAbout Pegasus Investments
Pegasus Investments is a boutique commercial real estate investment and advisory firm based in Los Angeles, CA. Specializing in
retail shopping centers, single tenant net leased and multifamily properties throughout the United States, Pegasus has
consistently delivered on its 28 year reputation of providing high quality, white glove service throughout all stages of the
investment sales process. Pegasus provides its clients, which include high net worth private investors, family trusts, private &
public REIT’s, local and regional developers and syndicators with advisory services encompassing underwriting, market research,
investment sales and asset management. Pegasus continues to set the bar for high quality, boutique investment sales brokerage
and advisory by relying on its industry-leading talent which include experienced institutional and private sector investors.
David Chasin Ken Chasin
Managing Director Founder
P (310) 691-1350 x101 P (310) 691-1350 x100
david@pegasusinvestments.com ken@pegasusinvestments.com
Trevor Nelson Brad Kritzer
Managing Director Executive Vice President
P (310) 691-1350 x104 P (310) 691-1350 x106 Pegasus Investments
tnelson@pegasusinvestments.com bkritzer@pegasusinvestments.com 1901 Avenue of the Stars, Suite 630
Los Angeles, CA 90067
www.pegasusinvestments.com
Kevin Shelburn Brian Wolfman (310) 691-1350
Vice President Senior Associate DRE# 00776468
P (310) 691-1350 x105 P (310) 691-1350 x107
kshelburn@pegasusinvestments.com bwolfman@pegasusInvestments.com
Pegasus Capital Markets:
Daylin Ackerman Michael Spector
Associate Associate Chad Buelow Tyler Johnson
P (310) 691-1350 x114 P (310) 691-1350 x109 Managing Director Analyst
dackerman@pegasusinvestments.com mspector@pegasusinvestments.com DRE Lic# 01854509 DRE Lic# 01947197
P (310) 691-1350 x111 P (310) 691-1350 x112
Katherine Weaver Tony Veiller cbuelow@pegasuscre.com tjohnson@pegasuscre.com
Senior Analyst Analyst
P (310) 691-1350 x115 P (310) 691-1350 x113
kweaver@pegasusinvestments.com tveiller@pegasusinvestments.com Pegasus Asset Management:
Talia Tonti Seth Bell Justin Herman
Office Manager Vice President Asset Manager
P (310) 691-1350 x108 P (310) 691-1350 x1002 P (310) 691-1350 x1003
ttonti@pegasusinvestments.com sbell@pegasusinvestments.com jherman@pegasusinvestments.comYou can also read
