Village Square Shopping Center - OFFERING MEMORANDUM - Levy Retail Group
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Village Square
Shopping Center
HURST, TX
OFFERING MEMORANDUM
Village Square Shopping Center
HURST, TX
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly 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 Marcus & Millichap. This Marketing Brochure 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. Marcus & Millichap 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 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.
Village Square Shopping Center
HURST, TX
TABLE OF CONTENTS
Section 1 PRICING AND FINANCIAL ANALYSIS
Section 2 PROPERTY DESCRIPTION
Section 3 RENT COMPARABLES
Section 4 DEMOGRAPHIC ANALYSIS
PRICING AND FINANCIAL ANALYSIS
Village Square Shopping Center
HURST, TX
Village Square Shopping Center
HURST, TX PRICING AND FINANCIAL ANALYSIS
FINANCING
Existing Financing
Loan Type Free and Clear
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 1
Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX PRICING AND FINANCIAL ANALYSIS
EXPENSES
Current Per SF Pro Forma Per SF
Real Estate Taxes $41,958 $0.55 $41,958 $0.55
Insurance $17,169 $0.22 $17,169 $0.22
CAM
Utilities $20,784 $0.27 $20,784 $0.27
Repairs & Maintenance $31,851 $0.41 $31,851 $0.41
Landscaping $7,145 $0.09 $7,145 $0.09
Parking Lot Maintenance $11,627 $0.15 $11,627 $0.15
Trash Disposal $6,733 $0.09 $6,733 $0.09
TOTAL CAM $78,140 $1.02 $78,140 $1.02
Management Fee $13,800 $0.18 $24,000 $0.31
TOTAL EXPENSES $151,067 $1.96 $161,267 $2.10
Tenants (% OF GLA)
Remaining: 17.44%
Vacant: 3.90%
Vacant: 3.90% Yoon Beauty Supply: 11.70%
Coin Laundry: 3.90%
Vacant: 4.68%
Vacant: 10.92%
*Wells Fargo : 5.52%
Joshua for Christ Church: 6.50%
Family Dollar Store: 9.75%
Mission Central: 6.50%
Vacant: 8.27%
Sudanese American Assoc.: 7.02%
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 2
Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX PRICING AND FINANCIAL ANALYSIS
INCOME & EXPENSES
Gross Leasable Area (GLA) 76,949 SF
Current Per SF Pro Forma Per SF
Base Rent
Occupied Space $263,132 $5.89 $263,132 $5.89
Vacant Space at Market Rents (32,296 SF) $0 $0.00 $193,776 $6.00
GROSS POTENTIAL RENT $263,132 $3.42 $456,908 $5.94
Expense Reimbursements
Real Estate Taxes $20,257 $0.26 $41,958 $0.55
Insurance $8,289 $0.11 $17,169 $0.22
CAM $37,726 $0.49 $78,140 $1.02
Management Fee $6,663 $0.09 $24,000 $0.31
GROSS POTENTIAL INCOME $336,067 $4.37 $618,175 $8.03
EFFECTIVE GROSS INCOME $336,067 $4.37 $618,175 $8.03
Total Expenses $151,067 $1.96 $161,267 $2.10
NET OPERATING INCOME $185,000 $2.40 $456,908 $5.94
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 3
Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX PRICING AND FINANCIAL ANALYSIS
TENANT SUMMARY
Suite Tenant GLA % of Lease Lease Annual Rent/ Changes Changes Expense Other: Lease
GLA Commence Expire Rent SF On To Reimbs. Options/ Type
% Rent
1 Coin Laundry 3,003 3.90% 10/01/11 12/31/16 $14,264.28 $4.75 $5,876.61 NNN
3 Vacant 6,361 8.27% $0.00
4 Vacant 1,235 1.60% $0.00
5 Vacant 1,400 1.82% $0.00
6 Vacant 1,300 1.69% $0.00
7 Mission Central 1,500 1.95% 9/01/11 10/03/19 $8,250.00 $5.50 $2,945.81 NNN
8 Mission Central 5,000 6.50% 10/04/14 10/31/19 $32,499.96 $6.50 $9,819.35 NNN
10 Joshua for Christ Church 5,000 6.50% 10/02/13 10/31/17 $28,750.08 $5.75 $9,819.35 NNN
12 Yoon Beauty Supply 9,000 11.70% 10/01/11 9/30/17 $35,100.00 $3.90 $17,674.84 NNN
15 Vacant 3,000 3.90% $0.00
16 Vacant 2,000 2.60% $0.00
17 H & R Block 2,000 2.60% 12/01/88 4/30/17 $14,400.00 $7.20 $3,927.74 NNN
18 Epik Cards & Games 2,000 2.60% 6/13/14 6/30/18 $12,000.00 $6.00 $3,927.74 NNN
19 Vacant 2,000 2.60% $0.00
20 Vacant 3,000 3.90% $0.00
21 Sudanese American 5,400 7.02% 4/01/15 5/31/20 $28,350.00 $5.25 $10,604.90 NNN
23 Vacant 3,600 4.68% $0.00
24 Vacant 8,400 10.92% $0.00
25 Family Dollar Store 7,500 9.75% 7/24/91 12/31/16 $36,277.56 $4.84 Gross
Pad *Wells Fargo 4,250 5.52% 11/28/05 12/31/20 $53,240.04 $12.53 $8,338.90 NNN
TOTAL VACANT 32,296 41.97%
TOTAL OCCUPIED 44,653 58.03% $263,131.92 $72,935.24
TOTAL 76,949 100.00% $263,131.92 $72,935.24
Comments
*Subleased to The City of Hurst Police Department
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 4
Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX PRICING AND FINANCIAL ANALYSIS
LEASE EXPIRATION SUMMARY
For The Year Beginning Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024
Tenant(s) Name Coin Joshua for Epik Cards Mission Sudanese
Laundry Christ & Games Central American
Family Church Mission Assoc.
Dollar Store Yoon Beauty Central *Wells Fargo
Supply
H & R Block
Total Number of Tenants 2 3 1 2 2
Total Square Feet 10,503 16,000 2,000 6,500 9,650
Total Percentage 13.7% 20.8% 2.6% 8.5% 12.5%
Cumulative Percentage 13.7% 34.5% 37.1% 45.5% 58.0%
60% 3
55%
50%
45%
Total Project Square Footage
40% 2
Number of Tenants
35%
30%
25%
20% 1
15%
10%
5%
0% 0
Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024
0% 14% 21% 3% 8% 13% 0% 0% 0% 0%
Percentage of SF Expiring Number of Tenants Expiring Cumulative % of SF Expiring
Any projections, opinions, assumptions or estimates used here within are for example purposes only and do not represent the current or future performance of the property.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 5
Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX PRICING AND FINANCIAL ANALYSIS
FINANCIAL OVERVIEW
Location Annualized Operating Data
716 E Pipeline Rd
Hurst, TX 76053 Income Current Pro Forma
Base Rent
Price $3,770,500 Occupied Space $263,132 $263,132
Down Payment 100.0% / Vacant Space at Market Rents $0 $193,776
Gross Leasable Area (GLA) 76,949 Gross Potential Rent $263,132 $456,908
Expense Reimbursements $72,935 $161,267
Price/SF $49.00
Gross Potential Income $336,067 $618,175
CAP Rate - Current 4.91%
Effective Gross Income $336,067 $618,175
CAP Rate - Pro Forma 12.12% Total Expenses $151,067 $161,267
Lot Size 7.35 Acres Net Operating Income $185,000 $456,908
Year Built 1980 Total Return 4.91% / $185,000 12.12% / $456,908
Expenses
Real Estate Taxes $41,958 $41,958
Insurance $17,169 $17,169
CAM
Utilities $20,784 $20,784
Repairs & Maintenance $31,851 $31,851
Landscaping $7,145 $7,145
Parking Lot Maintenance $11,627 $11,627
Trash Disposal $6,733 $6,733
TOTAL CAM $78,140 $78,140
Management Fee (% of EGI) 4.1% / $13,800 3.9% / $24,000
TOTAL EXPENSES $151,067 $161,267
EXPENSES/SF $1.96 $2.10
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 6
Millichap. All rights reserved.PROPERTY DESCRIPTION
Village Square Shopping Center
HURST, TXVillage Square Shopping Center HURST, TX PROPERTY DESCRIPTION INVESTMENT OVERVIEW Investment Highlights ■ Value-Add Retail Center Shadow Anchored by Kroger | 58 Percent Occupied ■ Anchored by Family Dollar ■ All Existing Tenants Excluding Family Dollar are Triple-Net ■ Priced at $49 Per Square Foot | Below Replacement Cost ■ Below Market Rent ■ Traffic Counts on Pipeline Road are Approximately 17,200- Vehicles Per Day ■ Located in a Densely Populated Area with Over 233,000 Residents Within Five Miles ■ The Five Mile Average Household Income is $78,980 Village Square is a 76,949-square foot multi-tenant retail center in Hurst, Texas. The value add opportunity is currently 58 percent occupied, providing tremendous upside potential. Tenants consist of Family Dollar, Coin Laundry, Mission Central, Joshua for Christ Church, Yoon Beauty Supply, H & R Block, Epik Cards & Games, Sudanese American Assoc., and a pad site leased to Wachovia Bank, N.A. All existing leases excluding Family Dollar are triple-net leases. The building was constructed in 1980 and sits on 7.35 acres. The subject property is located on East Pipeline Road with multiple ingress and egress points. The center is adjacent to Kroger grocery store, which is currently undergoing store renovations. Other neighboring national and regional retailers in the area include Domino’s Pizza, Dollar General, Ace Cash Express, Schlotzsky’s, Liberty Tax Service, Jefferson Dental Clinic, Subway, Pizza Patron, Wingstop, and Wells Fargo. The area is densely populated with over 233,000 residents within five miles and an average household income of $78,980. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 8 Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX PROPERTY DESCRIPTION
PROPERTY SUMMARY
The Offering
Property Village Square Shopping Center
Property Address 716 E Pipeline Rd
Hurst, TX 76053
Site Description
Year Built 1980
Gross Leasable Area (GLA) 76,949 SF
Lot Size 7.35 Acres
Type of Ownership Fee Simple
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 9
Millichap. All rights reserved.Village Square Shopping Center HURST, TX PROPERTY DESCRIPTION PROPERTY PHOTOS This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 10 Millichap. All rights reserved.
Village Square Shopping Center HURST, TX PROPERTY DESCRIPTION PROPERTY PHOTOS This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 11 Millichap. All rights reserved.
Village Square Shopping Center HURST, TX PROPERTY DESCRIPTION AREA MAPS Local Map Regional Map This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 12 Millichap. All rights reserved.
Village Square Shopping Center HURST, TX PROPERTY DESCRIPTION SITE PLAN This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & Millichap. All rights reserved. 13
Village Square Shopping Center HURST, TX PROPERTY DESCRIPTION AERIAL PHOTO This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 14 Millichap. All rights reserved.
RENT COMPARABLES
Village Square Shopping Center
HURST, TXVillage Square Shopping Center
HURST, TX RENT COMPARABLES
RENT COMPARABLES MAP
Village Square Shopping Center
1) Village Plaza
2) Cimarron Plaza Shopping Center - Building 3
3) Woods Crossing
4) Morrisdale Plaza
5) Richland Centre
6) Bedford Plaza
7) Melbourne Plaza
8) Melbourne Plaza II
9) Northeast Plaza
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 16
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX RENT COMPARABLES
OCCUPANCY AND AVERAGE RENT PER SF
Average Occupancy
90
80
70
60
50
40
30
20
10
0
Subject Village Cimarron Woods Morrisdale Bedford Melbourne Melbourne Northeast
Plaza Plaza Crossing Plaza Plaza Plaza Plaza Plaza
Shopping II
Center
-
Building
3
Average Rent per Square Foot
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
Subject Village Cimarron Woods Morrisdale Richland Bedford Melbourne Melbourne Northeast
Plaza Plaza Crossing Plaza Centre Plaza Plaza Plaza Plaza
Shopping II
Center
-
Building
3
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 17
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX RENT COMPARABLES
RENT COMPARABLES
Village Square Shopping Center
716 E Pipeline Rd
Hurst, TX 76053
Date Surveyed: 8/04/15 Major Tenants
Occupancy: 58% Family Dollar
Year Built: 1980 H&R Block
Gross Leasable Area (GLA): 76,949 SF Yoon Beauty Supply
Rent/SF (GLA): $5.89 Mission Central
Subject Property Available SF: 32,296 Wells Fargo
Lot Size: 7.35 Acres Sudanese American
Lease Type: NNN, Gross Joshua for Christ Church
Village Plaza
1
455-499 West Harwood Road
Hurst, TX 76054
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 88% Discount Cleaners
Year Built: 1985 Just Set The Table
Gross Leasable Area (GLA): 43,138 SF Artcastle
Rent/SF (GLA): $6.00 Imagine Photography
Available SF: 23,912 The Yellow Brick Salon
Lot Size: 4.16 Acres The Royal Lice Treatment
Lease Type: NNN Dino's Pizzeria
Cimarron Plaza Shopping Center - Building 3
2
1420-1424 Airport Freeway
Bedford, TX 76022
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 82% Lee Foot Care Spa
Year Built: 1984 Cycle Gear
Gross Leasable Area (GLA): 49,810 SF Accident & Injury Clinic
Rent/SF (GLA): $10.26 Gold & Silver Buyers
Available SF: 9,233 Simpson Sale Academy
Lot Size: 4.99 Acres
Lease Type: NNN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 18
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX RENT COMPARABLES
RENT COMPARABLES
3 Woods Crossing
109-189 West Harwood Road
Hurst, TX 76054
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 45% AAA Grooming
Year Built: 1984 I Heart Muffins Bakery
Gross Leasable Area (GLA): 36,068 SF Kitty Kottage
Rent/SF (GLA): $10.44 Bayleys Group Inc
Available SF: 19,930 Chosen Generation
Lot Size: 3.76 Acres Livingston Hearing
Lease Type: NNN Sincerely Yours
Morrisdale Plaza
4
4305-4325 West Pipeline Road
Euless, TX 76040
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 62% Kwik Kopy
Year Built/Renovated: 1975/2007 Central Cleaners
Gross Leasable Area (GLA): 15,820 SF Imprint Co
Rent/SF (GLA): $10.67 Domino's
Available SF: 6,000 Paintball & More
Lot Size: 1.32 Acres Salon De Belleza
Lease Type: NNN Qentins Funeral Home
Richland Centre
5
8641 Airport Freeway
North Richland Hills, TX 76180
Date Surveyed: 08/04/2015
Occupancy: 0%
Year Built: 1993
Gross Leasable Area (GLA): 28,156 SF
Rent/SF (GLA): $12.00
Available SF: 28,156
Lot Size: 21.21 Acres
Lease Type: NNN
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 19
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX RENT COMPARABLES
RENT COMPARABLES
6 Bedford Plaza
510-524 Bedford Road
Bedford, TX 76022
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 50% Discount Cigarettes of
Year Built/Renovated: 1973/2007 Signature Flan
Gross Leasable Area (GLA): 11,194 SF Cash for Gold & Jewelry
Rent/SF (GLA): $13.00 Bedford Heat & Air
Available SF: 5,623 D's Nail Spa
Lot Size: 1.91 Acres Seim Chiropractic Center
Lease Type: NNN Simpatico Yarns
Melbourne Plaza
7
909-951 Melbourne Road
Hurst, TX 76053
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 70% Subway
Year Built: 1970 Allure Day Spa
Gross Leasable Area (GLA): 28,434 SF Cancun Tan Llc
Rent/SF (GLA): $13.75 Styles of India
Available SF: 8,541 Vapor Den
Lot Size: 1.12 Acres Sherwin-Williams
Lease Type: NNN Today's Vision
Melbourne Plaza II
8
900-960 Melbourne Road
Hurst, TX 76053
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 89% Souper Salad
Year Built/Renovated: 1982/1993 Pro-Cuts
Gross Leasable Area (GLA): 47,517 SF VN Nails
Rent/SF (GLA): $13.80 Serenity Salon Suites
Available SF: 5,041 Goody's Food Mart
Lot Size: 5.00 Vie A Paris French Bakery
Lease Type: NNN The Healthcare Store
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 20
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX RENT COMPARABLES
RENT COMPARABLES
9 Northeast Plaza
8703-8779 West Bedford Euless Road
Hurst, TX 76053
Date Surveyed: 08/04/2015 Major Tenants
Occupancy: 39% A Tale of Two Settees
Year Built: 1979 Chinese Ave
Gross Leasable Area (GLA): 45,000 SF Divine Hand Beauty &
Rent/SF (GLA): $15.28 Casual Male Big & Tall
Available SF: 27,286 The Pat Waymon Galley
Lot Size: 3.67 Acres India Grill
Lease Type: NNN Metro Blueline
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 21
Millichap. All rights reserved.DEMOGRAPHIC ANALYSIS
Village Square Shopping Center
HURST, TXVillage Square Shopping Center
HURST, TX DEMOGRAPHIC ANALYSIS
DEMOGRAPHIC REPORT
1 Mile 3 Miles 5 Miles
2000 Population 18,329 85,546 208,380
2010 Population 18,978 90,279 222,032
2014 Population 19,746 94,537 233,146
2019 Population 19,979 97,223 241,624
2000 Households 7,322 35,660 84,640
2010 Households 7,320 37,501 90,402
2014 Households 7,644 39,395 95,206
2019 Households 7,754 40,639 98,968
2014 Average Household Size 2.58 2.39 2.45
2014 Daytime Population 2,889 36,183 81,251
2000 Owner Occupied Housing Units 47.46% 51.91% 55.24%
2000 Renter Occupied Housing Units 45.53% 43.40% 40.43%
2000 Vacant 7.00% 4.68% 4.34%
2014 Owner Occupied Housing Units 49.04% 55.79% 60.42%
2014 Renter Occupied Housing Units 50.96% 44.21% 39.58%
2014 Vacant 5.20% 3.68% 4.22%
2019 Owner Occupied Housing Units 48.94% 56.10% 60.69%
2019 Renter Occupied Housing Units 51.06% 43.90% 39.31%
2019 Vacant 5.04% 3.58% 4.19%
$ 0 - $14,999 11.8% 8.7% 8.5%
$ 15,000 - $24,999 12.2% 11.0% 10.4%
$ 25,000 - $34,999 13.2% 12.2% 11.0%
$ 35,000 - $49,999 18.6% 16.2% 14.6%
$ 50,000 - $74,999 18.6% 19.5% 19.0%
$ 75,000 - $99,999 11.0% 13.3% 12.9%
$100,000 - $124,999 7.2% 8.2% 9.3%
$125,000 - $149,999 2.6% 4.5% 5.2%
$150,000 - $199,999 2.9% 4.0% 4.9%
$200,000 - $249,999 0.8% 1.1% 1.8%
$250,000 + 1.1% 1.4% 2.6%
2014 Median Household Income $44,495 $52,167 $56,541
2014 Per Capita Income $23,383 $28,881 $32,314
2014 Average Household Income $60,399 $69,139 $78,979
Demographic data © 2012 by Experian.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 23
Millichap. All rights reserved.Village Square Shopping Center HURST, TX DEMOGRAPHIC ANALYSIS SUMMARY REPORT Geography: 5 miles Population In 2014, the population in your selected geography is 233,146. The population has changed by 11.88% since 2000. It is estimated that the population in your area will be 241,624 five years from now, which represents a change of 3.63% from the current year. The current population is 48.38% male and 51.61% female. The median age of the population in your area is 38.2, compare this to the Entire US average which is 37.3. The population density in your area is 2,968.84 people per square mile. Households There are currently 95,205 households in your selected geography. The number of households has changed by 12.48% since 2000. It is estimated that the number of households in your area will be 98,968 five years from now, which represents a change of 3.95% from the current year. The average household size in your area is 2.44 persons. Income In 2014, the median household income for your selected geography is $56,541, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 9.57% since 2000. It is estimated that the median household income in your area will be $65,686 five years from now, which represents a change of 16.17% from the current year. The current year per capita income in your area is $32,314, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $78,979, compare this to the Entire US average which is $74,533. Race & Ethnicity The current year racial makeup of your selected area is as follows: 73.51% White, 10.94% Black, 0.68% Native American and 4.96% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 17.49% of the current year population in your selected area. Compare this to the Entire US average of 17.13%. Housing In 2000, there were 48,871 owner occupied housing units in your area and there were 35,768 renter occupied housing units in your area. The median rent at the time was $565. Employment In 2014, there are 81,251 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 71.76% of employees are employed in white-collar occupations in this geography, and 28.31% are employed in blue-collar occupations. In 2014, unemployment in this area is 4.39%. In 2000, the average time traveled to work was 25.5 minutes. Demographic data © 2012 by Experian. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 24 Millichap. All rights reserved.
Village Square Shopping Center
HURST, TX DEMOGRAPHIC ANALYSIS
POPULATION DENSITY
Demographic data © 2012 by Experian.
Number of people living in a given area per square mile.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 25
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX DEMOGRAPHIC ANALYSIS
EMPLOYMENT DENSITY
Demographic data © 2012 by Experian.
The number of people employed in a given area per square mile.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 26
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX DEMOGRAPHIC ANALYSIS
AVERAGE HOUSEHOLD INCOME
Demographic data © 2012 by Experian.
Average income of all the people 15 years and older occupying a
single housing unit.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to
the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any
inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0410236 Marcus & 27
Millichap. All rights reserved.Village Square Shopping Center
HURST, TX
OFFERING MEMORANDUM
Philip Levy
Vice President Investments
Senior Director, National Retail Group
Fort Worth Office
License: TX: 0522087
Tel: (817) 932-6123
Fax: (817) 932-6110
Philip.Levy@marcusmillichap.com
www.marcusmillichap.com/PhilipLevy
Chris Gainey
Associate
Associate Director, National Retail Group
Fort Worth Office
License: TX: 280261
Tel: (817) 932-6122
Fax: (817) 380-1153
Chris.Gainey@marcusmillichap.com
www.marcusmillichap.com/ChrisGainey
Offices Throughout the U.S and Canada
www.MarcusMillichap.comYou can also read
