AT&T/Schertz ER Strip - Schertz, TX by STRIVE

AT&T/SCHERTZ ER STRIP SCHERTZ, TX

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A R E

E X C I T E D

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A N N O U N C E

T H E

M E R G E R

O F

PIERSON RETAIL ADVISORS & THE VITORINO GROUP

Pierson Retail Advisors and the Vitorino Group announce they have entered into a definitive agreement to merge and combine their operations. Together, Pierson and Vitorino have sold nearly $3 billion in commercial real estate. The new firm will be called Strive.

PRICING & FINANCIAL ANALYSIS

AT&T/SCHERTZ ER STRIP

FINANCIAL ANALYSIS

AT&T/Schertz ER Strip 4825 FM 3009 Schertz, TX 78154

Offering Summary Price Cap Rate Net Operating Income

$4,600,000 6.33% $291,000

Price PSF

$466

Occupancy

100%

Gross Leasable Area Lot Size

2015

PROPERTY DESCRIPTION

Year Built

9,875 SF 2.10 Acres

MARKET OVERVIEW 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Â© 2017 Vitorino Group and Pierson Retail Advisors

PRICING & FINANCIAL ANALYSIS

AT&T/SCHERTZ ER STRIP

Base Rent - Occupied Space

100%

Base Rent - Vacant Space GROSS POTENTAL RENT

Current

PSF

$291,000

$29.47

$0.00

$291,000

$29.47

Exp. Reimb.

Expenses

Current

PSF

Real Estate Taxes

$45,192

$4.58

Insurance

$6,992

$0.71

Landscape

$6,495

$0.66

CAM

$45,192

$4.58

Utilities

$5,252

$0.53

Insurance

$6,992

$0.71

Waste

$1,826

$0.18

CAM

$13,572

$1.37

Total CAM

$13,572

$1.37

Mgmt. Fee

$7,200

$0.73

$7,200

$0.73

Total Exp. Reimb.

$72,956

$7.39

$72,956

$7.39

$363,956

$36.86

$363,956

$36.86

Real Estate Taxes

($45,192)

($4.58)

Insurance

($6,992)

($0.71)

CAM

($13,572)

($1.37)

($7,200)

($0.73)

($72,956)

($7.39)

Vacancy Factor

EFFECTIVE GROSS INCOME

Management Fee (% of GPI)

TOTAL EXPENSES

1.98%

PROPERTY DESCRIPTION

Real Estate Taxes

GROSS POTENTIAL INCOME

FINANCIAL ANALYSIS

Income & Expenses

Expenses

Mgmt. Fee (% of GPI) Total Expenses

NET OPERATING INCOME

1.98%

$291,000 MARKET OVERVIEW

NOTE: Analysis assumes all tenants reimburse net of CAM, Real Estate Taxes, Insurance, and Management. AT&T has a 5% cap on controllable CAM

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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Â© 2017 Vitorino Group and Pierson Retail Advisors

RENT ROLL

AT&T/SCHERTZ ER STRIP

Tenant

Sq Ft

% of Sq Ft

Start

End

Annual Rent

PSF

Escalation Date

Escalation Amount

Options

Lease Type

Cibolo Emergency Clinic

7,625

77.22%

12/26/2015

12/31/2025

$232,500

$30.49

3/1/2021

$33.54

2x5

NNN

AT&T

2,250

22.78%

03/12/2016

02/28/2021

$58,500

$26.00

3/1/2019

$27.00

2x5

NNN

Occupied

9,875

100%

9,875

100%

Vacant Total

FINANCIAL ANALYSIS

Suite

$291,000

PROPERTY DESCRIPTION MARKET OVERVIEW 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Â© 2017 Vitorino Group and Pierson Retail Advisors

TENANT INFORMATION

AT&T/SCHERTZ ER STRIP

Tenant Overview Tenant Ownership Years In Business Number of Locations Headquarters Website

Public - AT&T Inc. (NYSE: T) 33 Years - AT&T Inc. 16,000+ (U.S. Locations) Dallas, TX www.att.com

Tenant Overview Tenant Ownership Number of Locations Website

MARKET OVERVIEW

Arete Urgent Care, PLLC DBA Schertz Cibolo Emergency Clinic is a fullservice, emergency center facility offering diagnosis and medical treatment to individuals and families of all ages. Arete Urgent Care has 7 locations in San Antonio, Floresville and Midlothian under various names, with two locations opening soon.

Wireless Mission, LP

PROPERTY DESCRIPTION

AT&T Inc. is an American multinational telecommunications conglomerate, headquartered at Whitacre Tower in downtown Dallas, Texas. AT&T is the second largest provider of mobile telephone services and the largest provider of fixed telephone services in the United States, and also provides broadband subscription television services through DirecTV.

FINANCIAL ANALYSIS

Wireless Mission LP is one of the largest authorized retailers with 347 locations nationwide.

Arete Urgent Care, PLLC Private 7+ www.schertzhealth.com

INVESTMENT HIGHLIGHTS

AT&T/SCHERTZ ER STRIP

FINANCIAL ANALYSIS

• Two-Tenant Strip Located in Northeast San Antonio Area of Schertz • NNN Leases with Built-in Escalations • Solid Tenant Line-up - Recognizable National Brand and Growing Health Care/Emergency Room • Dense Retail Area of Northeast San Antonio

PROPERTY DESCRIPTION

• New 2015 Quality Construction • Located Just Off I-35 - Northeast Gateway to Austin and one of the Fastest Growing U.S. Corridors • Surrounding Major Retailers Include H-E-B Plus Grocery Store, AutoZone, Lowe’s Home Improvement, McDonald’s and Walmart Supercenter Among Many Others • Tremendous Growth Area - Population Increased by Over 101% Since 2000

has MARKET OVERVIEW

• Average Household Income within a 1-Mile Radius is Nearly 1.4x the National Average • Traffic Counts Along FM 3009 Exceed 25,700 Vehicles per Day and Exceed 152,000 Vehicles per Day Along I-35

SITE PLAN

AT&T/SCHERTZ ER STRIP

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. ÂŠ 2017 Vitorino Group and Pierson Retail Advisors

RENT COMPARABLES

AT&T/SCHERTZ ER STRIP Year Built

Occupancy

Major Tenants

Available SF

Rental Rates

nnn

9,875

2015

100.0%

AT&T, Schertz Cibolo Emergency Clinic

$27.00 - $30.00

$8.04

Forest Ridge Shopping Center 17460 I-35 N

95,600

1985

100.0%

Massage Envy, UPS Store, Baskin Robbins, Natural Nails & Spa, Fantastic Sams

$22.00 - $30.00

$5.25

Verde Plaza I-35 & Mid-Cities Parkway

24,277

2015

17.8%

Chicago Title, The Bank of San Antonio

19,954

$28.00 $30.00

$7.25

Four Oaks 6032 FM 3009

29,568

2008

94.9%

Walmart (shadow), WingStop, Quality Urgent Care, Mathnasium, Cut N’ Style, Goomba’s Italia

1,500

$28.00 - $32.00

$9.54

Schertz Retail Plaza 5580 FM 3009

12,000

2006

75.0%

Walmart (shadow), CATO, Sally Beauty, Cricket Wirelsess, SupCuts

3,000

$21.00 $23.00

$8.25

Dollar Tree Center 6051 FM 3009

40,583

2007

98.1%

Dollar Tree, Advance America, Pinot’s Pallet, Liberty Tax, MedCom

789

$20.00 $24.00

$5.36

PROPERTY DESCRIPTION

GLA

Forest Ridge Square 4825 FM 3009 Schertz, Texas

FINANCIAL ANALYSIS

Property Name

Forest Ridge Square 1

Forest Ridge Shopping Center

Verde Plaza

Four Oaks Plaza

Schertz Retail Plaza

Dollar Tree Center

3 5 4

MARKET OVERVIEW

1 2

AERIAL MAP

AT&T/SCHERTZ ER STRIP

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

INTERSTATE 35

FM 3009

LOCAL MAP

AT&T/SCHERTZ ER STRIP

REGIONAL MAP

AT&T/SCHERTZ ER STRIP

MARKET SUMMARY

AT&T/SCHERTZ ER STRIP

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

SAN ANTONIO, TX

The city has characteristics of other western urban centers in which there are sparsely populated areas and a low density rate outside of the city limits. San Antonio is the center of the San Antonio–New Braunfels Metropolitan Statistical Area. Commonly referred to as Greater San Antonio, the metropolitan area has a population of over 2.27 million based on the 2013 US Census estimate, making it the 25th-

largest metropolitan area in the United States and third-largest in the state of Texas. Growth along the Interstate 35 and Interstate 10 corridors to the north, west and east make it likely that the metropolitan area will continue to expand. The US armed forces have numerous facilities in San Antonio: Fort Sam Houston, Lackland Air Force Base, Randolph Air Force Base (which constitute Joint Base San Antonio), and Lackland AFB/Kelly Field Annex, with Camp Bullis and Camp Stanley located outside the city. Kelly Air Force Base operated out of San Antonio until 2001, when the airfield was transferred to Lackland AFB. The remaining portions of the base were developed as Port San Antonio, an industrial/business park. San Antonio is home to six Fortune 500 companies and the South Texas Medical Center, the only medical research and care provider in the South Texas region.

MARKET OVERVIEW

San Antonio (Spanish for “Saint Anthony”), officially the City of San Antonio, is the seventh most populated city in the United States of America and the second most populated city in the state of Texas, with a population of 1,409,019. It was the fastest growing of the top 10 largest cities in the United States from 2000 to 2010, and the second from 1990 to 2000. The city is located in the American Southwest, the south–central part of Texas, and the southwestern corner of an urban region known as the Texas Triangle.

DEMOGRAPHIC SUMMARY

AT&T/SCHERTZ ER STRIP

Geography: 5 miles

FINANCIAL ANALYSIS

Population In the identified area, the 2016 population was 104,691. The rate of change since 2000 was 101.83%. The five-year projection for the population in the area was 118,651 representing a change of 13.34% from 2016 to 2021. The 2016 population was 48.7% male and 51.3% female. The median age in this area was 36.0, compared to the U.S. median age of 38.0.

Households In 2016, there were 37,871 households in your selected georgraphy. The number of households has changed by 99.44% since 2000. It was estimated that the number of households in your area will be 42,589 five years from 2016, which represents a change of 12.46% from 2016. The average household size in your area was 2.75 persons.

Income PROPERTY DESCRIPTION

In 2016, the median household income for your selected geography was $76,571, compare this to the entire U.S. average, which is currently $54,149. It is estimated that the median household income in your area will be $82,841 five years from 2016, which represents a change of 8.19% from 2016. In 2016, per capita income in your area was $32,101, compared to the entire U.S. average, which was $29,472. The 2016 year average household income in your area was $88,499, compare this to the entire U.S. average, which was $77,008.

Race and Ethnicity The 2016 year racial makeup of your selected area was as follows: 75.1% White, 12.5% Black, 0.4% Native American and 3.2% Asian/Pacific Islander. Compare these to the entire U.S. averages which were: 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 made up 31.3% of the 2016 population in your selected area. Compare this to the entire U.S. average which was 17.9%.

MARKET OVERVIEW

Housing In 2016, there were 26,196 owner occupied housing units in your area and there were 11,675 renter occupied housing units in your area. Median home value in the area was $192,726, compared to a median home value of $198,891 for the U.S.

Employment In 2016, there are 96,079 employees in your selected area, this is also known as the daytime population. in 2016, 69.0% of employees were employed in white-collar occupations in this geography, and 14.8% were employed in blue-collar occupations. In 2016, unemployment in this area was 3.9%. Demographic data ÂŠ 2016 esri 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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. ÂŠ 2017 Vitorino Group and Pierson Retail Advisors

DEMOGRAPHIC STATISTICS

AT&T/SCHERTZ ER STRIP 1 Mile

3 Miles

5 Miles

Income

1 Mile

3 Miles

5 Miles

2000 Population

3,832

22,069

51,872

$ 0 - $14,999

2.1%

4.2%

6.7%

2010 Population

6,855

44,877

88,044

$ 15,000 - $24,999

1.6%

4.1%

5.1%

2016 Population

6,963

52,405

104,691

$ 25,000 - $34,999

2.3%

4.1%

6.1%

2021 Population

7,264

59,044

118,651

$ 35,000 - $49,999

2.7%

9.1%

11.1%

$ 50,000 - $74,999

20.8%

18.5%

19.4%

$ 75,000 - $99,999

24.7%

19.4%

18.8%

$100,000 - $149,999

33.0%

26.8%

21.4%

6.6%

8.8%

7.1%

1 Mile

3 Miles

5 Miles

$200,000 +

6.2%

4.9%

4.4%

2000 Households

1,270

7,802

18,989

2016 Median Household Income

$94,404

$85,748

$76,571

2010 Households

2,340

15,762

32,424

2016 Per Capita Income

$36,062

$34,036

$32,101

2016 Households

2,348

18,243

37,871

2016 Average Household Income

$107,237

$97,303

$88,499

2021 Households

2,439

20,469

42,589

2016 Daytime Population

10,914

47,186

96,079

2.97

2.86

2.75

2010 Owner Occupied Housing Units

85.6%

76.2%

67.5%

2010 Renter Occupied Housing Units

11.8%

19.7%

27.1%

2010 Vacant

2.6%

4.1%

5.4%

2016 Owner Occupied Housing Units

82.7%

73.4%

66.2%

2016 Renter Occupied Housing Units

13.5%

22.8%

29.5%

2016 Vacant

3.8%

4.3%

2021 Owner Occupied Housing Units

82.4%

72.8%

66.4%

2021 Renter Occupied Housing Units

14.1%

23.6%

29.7%

2021 Vacant

3.6%

3.5%

4.0%

2016 Average Household Size

PROPERTY DESCRIPTION

$150,000 - $199,999 Households

FINANCIAL ANALYSIS

Population

Traffic Counts

MARKET OVERVIEW

152,612

25,728

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 Vitorino Group and Pierson Retail Advisors and it should not be made available to any other person or entity without the written consent of Vitorino Group and Pierson Retail Advisors. 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 Vitorino Group and Pierson Retail Advisors. 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. Vitorino Group and Pierson Retail Advisors 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 tenantâ&#x20AC;&#x2122;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, Vitorino Group and Pierson Retail Advisors has not verified, and will not verify, any of the information contained herein, nor has Vitorino Group and Pierson Retail Advisors 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 THE VITORINO GROUP AND PIERSON RETAIL ADVISORS AGENT FOR MORE DETAILS.

Net Lease Disclaimer Vitorino Group and Pierson Retail Advisors hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, the Vitorino Group and Pierson Retail Advisors has not and will not verify any of this information, nor has the Vitorino Group and Pierson Retail Advisors conducted any investigation regarding these matters. The Vitorino Group and Pierson Retail Advisors makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased 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. The Vitorino Group and Pierson Retail Advisors 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 net leased 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 net leased 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 tenant 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 tenant 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 lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant 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 The Vitorino Group and Pierson Retail Advisors and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage Services

efore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly. IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent. IF THE BROKER REPRESENTS THE BUYER: The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent. IF THE BROKER ACTS AS AN INTERMEDIARY: A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written consent of each party to the transaction to act as an

intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction: (1) shall treat all parties honestly; (2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; (3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and (4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party. If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

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