TOWN & COUNTRY SHOPPING CENTER - MCALLEN, TX - LOOPNET
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TOWN & COUNTRY SHOPPING CENTER
McALLEN, TX
PRI CING & F INAN CI AL AN ALYSI S TOWN & CO U NT RY SH O P P ING C E NT E R
Town & Country SC
5007 & 6001 N 10th St
McAllen, TX 78504
OFFERING SUMMARY
Price $12,510,000
Existing Assumable Debt (Matures Sep. 2027) $8,350,000
Required Equity $4,160,000
Equity Yield (I/O period through Sep. 2020) 13.14%
Equity Yield (Amort. period Oct 2020 - Sep. 2027) 9.98%
Net Operating Income $924,147
Price PSF $137.01
Occupancy 94.0%
Year Renovated 2002
Gross Leasable Area 91,306 SF
Lot Size 6.80 Acres
F I N A N C I A L A N A LY S I S 2
I N VE S TMENT HI GHLI GHT S TOWN & CO U NT RY SH O P P ING C E NT E R
• Stabilized Asset with High Equity Yield plus Value-Add
Opportunity: Town & Country is currently 94% occupied,
providing investors with a stable current cash flow while
offering potential upside through the lease-up of the
remaining 5,500 square feet of available space.
• High Leveraged Return: The existing assumable debt was
originated in October 2017 at terms highly favorable relative
to the current market. The highlights include: 4.52% rate,
10 year term/30 year amortization, 3 year I/O strip (through
9/2020), 67% leverage to the asking price, and a very strong
cash on cash yield (13.14% for the remaining I/O period of 2
years & 9.98% thereafter).
• Long Term Tenancy: The Town & Country tenant base has
demonstrated outstanding longevity as 82% of the current
tenant lineup has been at the Property for more than 5 years.
• Exceptional Visibility and Accessibility: Unlike many retail
properties, the sight lines for Town & Country have not
been obstructed by additional free-standing pad users in
the parking lot, creating clear views of the entire property
from 10th Street. Additionally, Town & Country provides 3
points of unimpeded ingress/egress for both the northbound
and southbound 10th Street traffic, in addition to 2 points of
ancillary street access.
• Exceptional Positioning: Town & Country greatly benefits
from its prominent “in-fill” position on 10th Street, one of the
major retail thoroughfares in McAllen, accommodating more
than 16,900 vehicles per day.
• Tremendous Trade Area with High Growth and Income:
Town & Country is a true neighborhood center in this affluent
section of McAllen. Boasting a population of roughly 15,000
people and average household incomes of $85,000 within
a 1 mile radius, Town & Country is located at the center of a
submarket with a dense population base and considerable
amounts of discretionary income.
• Heavy Cross Border Consumer Traffic: Located across the Rio
Grande River from Reynosa, Mexico (population 600,000+),
McAllen is often referred to as the retail center of southern
Texas and northern Mexico. The high volume of cross border
consumer traffic is evidenced by McAllen’s La Plaza Mall
posting the highest sales per square foot of any shopping mall
in the nation.
PROPERTY DESCRIPTION 3
PRI CING & F INAN CI AL AN ALYSI S TOWN & CO U NT RY SH O P P ING C E NT E R
PROJECTED INCOME & EXPENSES CURRENT PSF EXPENSES CURRENT PSF
Base Rent - Occupied Space $1,027,582 $11.25 Real Estate Taxes $227,098 $2.49
GROSS POTENTIAL RENT $1,027,582 $11.25 Insurance $41,660 $0.46
Expense Reimbursements CAM
CAM Recoveries $67,049 $0.73 Lighting & Electrical $9,962 $0.11
Management Fee Recoveries $16,629 $0.18 Roof Repair $3,220 $0.04
Insurance Recoveries $31,724 $0.35 Fire Inspection & Monitoring $10,953 $0.12
Real Estate Tax Recoveries $176,330 $1.93 Janitorial $14,740 $0.16
Total Expense Reimbursements $291,731 $3.20 Maintenance Expense $10,530 $0.12
EFFECTIVE GROSS REVENUE $1,319,310 $14.45 Pest Control $779 $0.01
Operating Expenses Landscaping $9,840 $0.11
Total CAM $86,825 $0.95 Electricity (CAM) $16,042 $0.18
Management Fee 3.00% $39,579 $0.43 Water & Sewer (CAM) $5,140 $0.06
Total Insurance $41,660 $0.46 Trash Disposal $6,747 $0.07
Total Real Estate Taxes $227,098 $2.49 Passthru Electricity (CAM) ($1,129) ($0.01)
Total Recoverable Expenses $395,163 $4.33 Total CAM $86,825 $0.95
Net Operating Income $924,147 $10.12 Management Fee 3.00% $39,579 $0.43
Lender Req. Reserves at $0.28 PSF $25,232 Total Expenses $395,163 $4.33
Cash Flow before Debt Service $898,915
Assumable Debt $508,938
Cash Flow after Debt Service $389,977
Cash-on-Cash Return 13.14%
F I N A N C I A L A N A LY S I S 4
LOAN DETA ILS TOWN & CO U NT RY SH O P P ING C E NT E R
EXISTING ASSUMABLE LOAN
Purchase Price $12,510,000
Loan Amount $8,350,000
Equity to the Note $4,160,000
Loan to Purchase Price 67%
Interest Rate 4.5208%
I/O Strip (Effective through Sept 2020) 3 Years
Amortization Schedule (Begins Oct 2020) 30 Years
Loan Constant (Amort. Period) 6.10%
Call 10 Years
Residual Percentage 87.07%
NOI $924,147
Annual Debt Service (I/O Period) $377,487
Annual Debt Service (Amort. Period) $508,938
Clear Cash after DS (I/O Period) $546,660
Clear Cash after DS (Amort. Period) $415,209
Debt Service Coverage Ratio (Amort. Period) 1.82
Cash on Cash Return (I/O Period) 13.14%
Cash on Cash Return (Amort. Period) 9.98%
Loan Start Date Oct. 2017
Interest Only Period Ends Sep. 2020
Maturity Date Sep. 2027
F I N A N C I A L A N A LY S I S 5
RE NT RO L L TOWN & CO U NT RY SH O P P ING C E NT E R
Tenant Suite SQ FT % of SQFT Lease Dates Minimum Rent Recoveries Total
% of
Start End Annual Monthly PSF Annual PSF Revenue
Revenue
National Veterinary 1 4,782 100.00% 12/08 11/23 $107,834 $8,986 $22.55 $25,727 $5.38 $133,561 10.12%
Children's Orchard 4905 4,000 4.62% 12/09 06/20 $44,920 $3,743 $11.23 $17,681 $4.42 $62,601 4.74%
Cliff Ranson Photography 4909 2,000 2.31% 02/13 03/19 $26,400 $2,200 $13.20 $8,841 $4.42 $35,241 2.67%
Karlas LLC 4915 5,000 5.78% 10/07 02/24 $60,000 $5,000 $12.00 $22,101 $4.42 $82,101 6.22%
Maxwell Salon 4917 3,000 3.47% 10/16 02/22 $39,000 $3,250 $13.00 $13,261 $4.42 $52,261 3.96%
El Divino 5001 6,492 7.50% 09/12 06/19 $94,134 $7,845 $14.50 $28,696 $4.42 $122,830 9.31%
Shannon Fine Jewelry 5007 1,880 2.17% 04/10 03/20 $23,789 $1,982 $12.65 $8,310 $4.42 $32,099 2.43%
Quips & Quotes 5011 15,730 18.18% 08/98 03/22 $188,760 $15,730 $12.00 $0 $0.00 $188,760 14.31%
Butler's Barber Shop 5021 1,880 2.17% 08/17 07/22 $26,320 $2,193 $14.00 $8,310 $4.42 $34,630 2.62%
Cryo Body Perfection 5103 2,750 3.18% 07/16 09/19 $37,125 $3,094 $13.50 $12,156 $4.42 $49,281 3.74%
Hobbies & Heroes 5109 1,650 1.91% 01/18 12/21 $13,200 $1,100 $8.00 $7,293 $4.42 $20,493 1.55%
Mail-Pak 5111 1,650 1.91% 03/10 02/21 $33,759 $2,813 $20.46 $7,293 $4.42 $41,052 3.11%
Edibe Arrangements 5113A 1,650 1.91% 01/07 01/22 $33,775 $2,815 $20.47 $7,293 $4.42 $41,069 3.11%
9 Round Fitness 5113B 1,650 1.91% 12/13 02/20 $23,777 $1,981 $14.41 $7,293 $4.42 $31,070 2.36%
Office Depot 5115 28,560 33.01% 12/08 03/20 $232,764 $19,397 $8.15 $105,319 $3.69 $338,083 25.63%
Watermill Express LLC Water 0 0.00% 06/13 06/23 $9,600 $800 $0.00 $0 $0.00 $9,600 0.73%
French Café 5101 2,750 3.18% 11/18 10/23 $26,125 $2,177 $9.50 $12,156 $4.42 $38,281 2.90%
Available 5105 5,500 6.36% - - $0 $0 $0.00 $0 $0.00 $0 0.00%
ATM ATM 382 0.44% - MTM $6,300 $525 $16.49 $0 $0.00 $6,300 0.48%
Total Count/GLA 19 91,306 200% Totals $1,027,582 $85,632 $291,731 $1,319,313 100.00%
Occupied 18 85,806 94.0%
Available 1 5,500 6.0%
Total Avg Rent $11.98 85,806 100.0%
F I N A N C I A L A N A LY S I S 6
E S TI MATED REIMBUR SEMEN T R EVEN U E TOWN & CO U NT RY SH O P P ING C E NT E R
Tenant Suite SQ FT % of SQFT CAM Management Fee Insurance Real Estate Taxes Total Recovery
Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF
National Veterinary 1 4,782 100.00% $0 $0.00 $0 $0.00 $157 $0.39 $1,987 $4.99 $2,144 $5.38
Children's Orchard 4905 4,000 4.62% $385 $1.15 $152 $0.46 $153 $0.46 $783 $2.35 $1,473 $4.42
Cliff Ranson Photography 4909 2,000 2.31% $192 $1.15 $76 $0.46 $77 $0.46 $392 $2.35 $737 $4.42
Karlas LLC 4915 5,000 5.78% $481 $1.15 $191 $0.46 $192 $0.46 $979 $2.35 $1,842 $4.42
Maxwell Salon 4917 3,000 3.47% $289 $1.15 $114 $0.46 $115 $0.46 $587 $2.35 $1,105 $4.42
El Divino 5001 6,492 7.50% $624 $1.15 $247 $0.46 $249 $0.46 $1,271 $2.35 $2,391 $4.42
Shannon Fine Jewelry 5007 1,880 2.17% $181 $1.15 $72 $0.46 $72 $0.46 $368 $2.35 $693 $4.42
Quips & Quotes 5011 15,730 18.18% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
Butler's Barber Shop 5021 1,880 2.17% $181 $1.15 $72 $0.46 $72 $0.46 $368 $2.35 $693 $4.42
Cryo Body Perfection 5103 2,750 3.18% $264 $1.15 $105 $0.46 $105 $0.46 $538 $2.35 $1,013 $4.42
Hobbies & Heroes 5109 1,650 1.91% $159 $1.15 $63 $0.46 $63 $0.46 $323 $2.35 $608 $4.42
Mail-Pak 5111 1,650 1.91% $159 $1.15 $63 $0.46 $63 $0.46 $323 $2.35 $608 $4.42
Edibe Arrangements 5113A 1,650 1.91% $159 $1.15 $63 $0.46 $63 $0.46 $323 $2.35 $608 $4.42
9 Round Fitness 5113B 1,650 1.91% $159 $1.15 $63 $0.46 $63 $0.46 $323 $2.35 $608 $4.42
Office Depot 5115 28,560 33.01% $2,092 $0.88 $0 $0.00 $1,094 $0.46 $5,591 $2.35 $8,777 $3.69
Watermill Express LLC Water 0 0.00% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
French Café 5101 2,750 3.18% $264 $1.15 $105 $0.46 $105 $0.46 $538 $2.35 $1,013 $4.42
Available 5105 5,500 6.36% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
ATM ATM 382 0.44% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
TOTALS 91,306 200% $5,587 $1,386 $2,644 $14,694 $24,311
F I N A N C I A L A N A LY S I S 7
L E A SE PROVIS ION S TOWN & CO U NT RY SH O P P ING C E NT E R
Base Rental User Restrictions Sales
Tenant Suite SQ FT Renewal Options
Increases & Exclusive Rights Reporting
Date PSF Options Date PSF
National Veterinary 1 4,782 - - 1x5 12/1/2023 FMV - -
Children's Orchard 4905 4,000 - - 1x5 7/1/2020 FMV LL covenants and represents to Tenant that LL will not permit -
or allow any other Tenants in the Center to sell any used items
as enumerated in Tenant's use clause
Cliff Ranson Photography 4909 2,000 - - 1x5 4/1/2019 FMV - Yes
Karlas LLC 4915 5,000 - - 4x5 3/1/2024 FMV Tenant has the exclusive right to sell jewelry, household Yes
3/1/2029 FMV accessories,including furniture and accessories, and related
3/1/2034 FMV engraving and repair services
3/1/2039 FMV
Maxwell Salon 4917 3,000 - - 1x5 3/1/2022 FMV - Yes
El Divino 5001 6,492 - - 1x5 7/1/2019 FMV - Yes
Shannon Fine Jewelry 5007 1,880 - - 1x5 4/1/2020 FMV LL, shall to the extent possible under present leases, present Yes
law and statutes and without prejudice or liability limit or re-
frain other Tenants sale of Tenants listed use merchandise or
services (Exhibit F)
Quips & Quotes 5011 15,730 - - 1x5 4/1/2022 $13.00 LL shall not permit another Tenant in the center to operate an Yes
"exclusively" gift store of similar merchandise to Tenants, in the
center, or a department within their store which shall comprise
25% in area of the store or 25% of gross sales, which shall be in
direct competition with Tenants merchandise lines or services.
LL will not permit an exclusive "card shop" or the operation of
a card department by an tenant that would comprise over 5%
of the annual sales of the Tenant
Butler's Barber Shop 5021 1,880 - - 1x5 8/1/2022 FMV - -
Cryo Body Perfection 5103 2,750 - - 2x3 10/1/2019 FMV - Yes
10/1/2022 FMV
F I N A N C I A L A N A LY S I S 8
L E A SE PROVIS ION S - CON T. TOWN & CO U NT RY SH O P P ING C E NT E R
Base Rental User Restrictions Sales
Tenant Suite SQ FT Renewal Options
Increases & Exclusive Rights Reporting
Date PSF Options Date PSF
Hobbies & Heroes 5109 1,650 1/1/2019 $10.00 2x5 1/1/2022 FMV - Yes
1/1/2020 $11.00 1/1/2027 FMV
1/1/2021 $12.00
Mail-Pak 5111 1,650 - - 1x5 3/1/2021 FMV - Yes
Edibe Arrangements 5113A 1,650 - - 1x5 2/1/2022 $20.98 LL shall not lease, permit any assignment, or sublet any lease Yes
in the Shopping Center, or otherwise permit any tenant whose
primary use (50% of sales or more} is to sell floral fruit designs
or basket in any portion of the Shopping Center
9 Round Fitness 5113B 1,650 - - 1x3 3/1/2020 $15.85 - Yes
Office Depot 5115 28,560 - - 2x5 4/1/2020 $9.15 Landlord shall not suffer or permit any Occupant of the Shop- -
4/1/2025 $10.15 ping Center, other than Tenant, to: (i) use more than one thou-
sand six hundred fifty (1,650) square feet of floor area (in the
aggregate) for the sale, leasing, distribution or display of of-
fice supplies, including office furniture; office fixtures; office
machines and equipment/electronics; computers (P.C.); com-
puter hardware, software and accessories; cellular telephones
and telecommunications equipment and devices; art supplies;
architectural supplies; engineering supplies; photocopying ser-
vices; facsimile services; or instant print shop services; or (ii)
be primarily engaged in the sale, leasing, distribution or display
of the items set forth in (i) above. No space in or portion of any
real property adjacent to or within five hundred feet (500') of
the Shopping Center which is now or may subsequently be ac-
quired by Landlord (or a related entity or affiliate of Landlord),
shall be leased or occupied by or conveyed to any other party
for a competing use in violation of the Tenant's exclusive use
set forth in this paragraph, except that such restriction shall
not apply to telephones and telecommunciations equipment
and devices, art supplies, architectural supplies or engineering
supplies. (Memorandum, A)
Watermill Express LLC Water 0 - - - - - - -
French Café 5101 2,750 9/1/2019 $11.00 1x5 9/1/2023 FMV - Yes
9/1/2020 $11.75
Available 5105 5,500 - - - - - - -
ATM ATM 382 - - - - - - -
TOTAL 91,306
F I N A N C I A L A N A LY S I S 9
TE NA NT INF ORMAT I ON TOWN & CO U NT RY SH O P P ING C E NT E R
Company Office Depot
Corporate/Franchise Corporate
Public/Private Public
Locations 1,400+ Locations
Website www.officedepot.com
Line of Business Office Depot is a leading provider of business services and supplies, products and
technology solutions through its fully integrated omni-channel platform of approximately
1,400 stores, online presence and dedicated sales professionals and technicians to small,
medium and enterprise businesses. Through its banner brands Office Depot, OfficeMax,
CompuCom and Grand&Toy, the company offers its customers the tools and resources they
need to focus on their passion of starting, growing and running their business.
Company Children’s Orchard
Corporate/Franchise Franchise
Public/Private Private
Locations 26 Locations
Website www.childrensorchard.com
Line of Business Children’s Orchard is an upscale resale store that offers a new and fun shopping experience
for both parents and kids. Because children so often outgrow their clothes before they are
hardly worn, Children’s Orchard provides a solution for customers to sell their items for cash
and buy like-new items for up to 70% off of original retail prices. To help make shopping a
bit less stressful, each Children’s Orchard has a fun and safe play area where kids can watch
videos, use toys and just hangout while their parents shop. Dressing rooms are large so
families are comfortable when trying on items to make sure they fit.
PROPERTY DESCRIPTION 10TE NA NT INF ORMAT I ON TOWN & CO U NT RY SH O P P ING C E NT E R
Company Edible Arrangements
Corporate/Franchise Franchise
Public/Private Private
Locations More than 1,200 stores worldwide; this Franchisee has one location
Website www.ediblearrangements.com
Line of Business Edible Arrangement specializes in fresh fruit arrangements, melding the concept of fruit
baskets with designs inspired by the floral business. Founded in East Haven, Connecticut in
1999, Edible Arrangement stores also sells a variety of specialty fruit gift items, such as gift
boxes featuring premium chocolate dipped fruit and fresh-fruit-to-go products, for pick-up
or delivery, seven days a week. The business had grown to more than 1,200 stores across
the globe.
Company 9 Round Fitness
Corporate/Franchise Franchise
Public/Private Private
Locations 700+ Locations
Website www.9round.com
Line of Business 9Round is a specialized fitness center for people who want a unique, fun, and proven
workout that guarantees results. 9Round offers a kickboxing themed fitness program
that incorporates a functional, interval, cardiovascular and circuit training regimens. The
programs consist of a proprietary system of nine challenging workout stations developed
by a World Champion Kickboxer.
PROPERTY DESCRIPTION 11PRO PERT Y IMAGERY TOWN & CO U NT RY SH O P P ING C E NT E R
PROPERTY DESCRIPTION 12S I T E PL A N - 5007 N 10T H ST TOWN & CO U NT RY SH O P P ING C E NT E R
NOT A PART
Watermill
Express
PROPERTY DESCRIPTION 13S I T E PL A N - 6001 N 10T H ST N AT
TOWN IO NUANT
& CO L VRY
E TSH
EROINPAPRY
INGB UIL D INEG
C E NT R
PROPERTY DESCRIPTION 14A E R I AL MA P - 5 007 N 10T H ST TOWN & CO U NT RY SH O P P ING C E NT E R
NATIONAL VETERINARY BUILDING
DOVE A
VE
24,338 V
PD
TOWN & COUNTRY SHOPPING CENTER
VPD
16,900
ST
N 10TH
N O L AN
A AVE
33,410
VPD
PROPERTY DESCRIPTION 15A E R I AL MA P - 6001 N 10T H ST N AT
TOWN IO NUANT
& CO L VRY
E TSH
EROINPAPRY
INGB UIL D INEG
C E NT R
DR. PABLO PEREZ
ELEMENTARY
SCHOOL
MORRIS
MIDDLE SCHOOL
TRENTO
N RD
VPD
29,892 VP
D
23,469
NATIONAL VETERINARY BUILDING
ST
N 10TH
DOVE A
VE
20,684 VP
D
PROPERTY DESCRIPTION 16LO C AL MA P TOWN & CO U NT RY SH O P P ING C E NT E R
National Veterinary
Building
Town &
Country SC
PROPERTY DESCRIPTION 17REG IONA L MA P TOWN & CO U NT RY SH O P P ING C E NT E R
Town &
Country SC
PROPERTY DESCRIPTION 18M A R KET S U MMARY TOWN & CO U NT RY SH O P P ING C E NT E R
McAllen, TX
OVERVIEW
McAllen is the twenty-first most populous city in The metro area is also a haven for those crossing
Texas and the largest city in Hidalgo County, Texas, the border from Mexico to Texas. As of August
United States. It is located at the southern tip of Texas 2015, Catholic Charities of the Rio Grande Valley,
in the Rio Grande Valley and is part of the Southern along with the Sacred Heart Church in McAllen, have
United States. It is on the Rio Grande, across from helped more than 23,000 people looking to make
the Mexican city of Reynosa, and is approximately 70 a new life for themselves in the U.S. As a result,
miles (110 km) west of South Padre Island and the Gulf Hispanic culture is strong in the area, with numerous
of Mexico. McAllen is often referred to as the retail Mexican restaurants found throughout the region
center of Southern Texas and Northern Mexico. In and Mexican festivals taking place during the year.
fact, the region’s La Plaza Mall makes the most sales
per square foot of any shopping mall in the country. McAllen has seen year-over-year job growth of around
2.5 percent. Education and health services make up
The 2010 United States census put the city’s two of the largest employment sectors in McAllen
population at 129,877 and the McAllen–Edinburg– thanks to top employers like the McAllen Independent
Mission metropolitan area at 774,773. It is ranked the School District, South Texas College, the University
fifth most populated metropolitan area in the state of Texas-Rio Grande Valley, McAllen Medical Center
of Texas. The Reynosa–McAllen Metropolitan Area and Rio Grande Regional Hospital. There are also
counts a population of nearly 1.5 million. The McAllen– opportunities in the public sector, including with
Edinburg–Mission metropolitan area is also one of the the City of McAllen. Other major employers include
fastest growing metropolitan areas in the United States. BBVA Compass Bank, IBC Bank and GE Engines.
PROPERTY DESCRIPTION 19D E M OG RA PHIC STAT I ST I CS TOWN & CO U NT RY SH O P P ING C E NT E R
1 MILE 3 MILE 5 MILE
Population:
2023 Projection 15,401 114,626 256,409
2018 Estimate 14,506 108,320 242,103
2010 Census 12,784 97,632 217,014
Growth 2018-2023 6.17% 5.82% 5.91%
Growth 2010-2018 13.47% 10.95% 11.56%
2018 Population Hispanic Origin 11,057 92,557 213,126
2018 Population by Race:
White 13,461 101,556 229,828
Black 254 1,627 2,978
Am. Indian & Alaskan 87 639 1,486
Asian 551 3,641 6,189
Hawaiian & Pacific Island 4 69 140
Other 149 788 1,481
U.S. Armed Forces: 0 26 96
Households:
2023 Projection 5,635 36,568 79,183
2018 Estimate 5,327 34,662 74,981
2010 Census 4,802 31,795 68,337
Growth 2018 - 2023 5.78% 5.50% 5.60%
Growth 2010 - 2018 10.93% 9.02% 9.72%
Owner Occupied 2,932 20,927 46,876
Renter Occupied 2,395 13,735 28,106
2018 Avg Household Income $85,266 $70,805 $67,023
2018 Med Household Income $59,060 $51,652 $47,889
2018 Households by Household Inc:CONFIDENTIALITY AGREEMENT 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 STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. STRIVE 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, PCBs or asbestos, the compliance with local, 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 offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.
Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.
Information 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.
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 th e 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:
ӽӽ that the owner will accept a price less than the written asking price;
ӽӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
ӽӽ 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.
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0exclusively listed
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