Mainland Crossing - Texas City, TX by STRIVE

MAINLAND CROSSING TEXAS CITY, TX (HOUSTON MSA)

PRICING & FINANCIAL ANALYSIS

M AINLAND C R O SSING

Mainland Crossing 9800 Emmett F Lowry Expy Texas City, TX 77591

OFFERING SUMMARY Price Assumable Loan Equity Down

$8,000,000 $4,944,587 $3,055,413

Price PSF

$65.31

Year Built

1991

Gross Leasable Area Lot Size Current Net Operating Income Current Occupancy Pro Forma Net Operating Income

135,355 SF 19.56 Acres $376,740 42.7% $1,065,847

Pro Forma Occupancy

93.0%

Pro Forma Yield

13.32%

Loan details on Page 10

F I N A N C I A L A N A LY S I S

PRICING & FINANCIAL ANALYSIS - CURRENT

PROJECTED INCOME & EXPENSES

M AINLAND C R O SSING

CURRENT

Base Rent - Occupied Space GROSS POTENTIAL RENT

PSF

EXPENSES

CURRENT

PSF

$600,644

$4.44

Real Estate Taxes

$77,984

$0.58

$600,644

$4.44

Insurance

$82,440

$0.61

Expense Reimbursements

CAM

CAM Recoveries

$234,141

$1.73

Janitorial

$62,729

$0.46

$6,191

$0.05

Landscaping

$8,650

$0.06

$10,488

$0.08

Repairs & Maintenance

$81,385

$0.60

$21,719

$0.16

Security

$66,000

$0.49

$272,539

$2.01

UTL - Water & Sewer

$3,600

$0.03

UTL - Trash

$1,068

$0.01

Office Depot CAM

$2,396

$0.02

$73,876

$0.55

Discount Tire CAM

$2,281

$0.02

$297,308

$2.20

Total Other Revenue

$4,677

$0.03

Management Fee

$43,388

$0.32

$877,860

$6.49

Total Expenses

$501,120

$3.70

$297,308

$2.20

$43,388

$0.32

Total Insurance

$82,440

$0.61

Total Real Estate Taxes

$77,984

$0.58

$501,120

$3.70

$376,740

$2.78

Management Fee Recoveries Insurance Recoveries Real Estate Tax Recoveries Total Expense Reimbursements Other Revenue

EFFECTIVE GROSS REVENUE

UTL - Electricity Total CAM 5.00%

Operating Expenses Total CAM Management Fee

Total Recoverable Expenses Net Operating Income

5.00%

F I N A N C I A L A N A LY S I S

RE NT RO L L - CURRENT

Tenant

Suite

M AINLAND C R O SSING

SQ FT

% of SQFT

Lease Dates

Minimum Rent

Recoveries

Total

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

Rainbow

104

4,010

2.96%

02/99

01/23

$37,440

$3,120

$9.34

$9,420

$2.35

$46,860

5.60%

Jackson Hewitt

116

1,400

1.03%

07/00

04/22

$20,790

$1,733

$14.85

$5,725

$4.09

$26,515

3.17%

UTMB Health Care

128

3,495

2.58%

07/94

07/19

$44,561

$3,713

$12.75

$14,292

$4.09

$58,853

7.04%

US Dept VA

144

2,310

1.71%

04/17

03/22

$135,576

$11,298

$58.69

$0.00

$135,576

16.21%

Va'Nayes Hair Design

152

1,638

1.21%

12/06

11/20

$19,656

$1,638

$12.00

$6,698

$4.09

$26,354

3.15%

Luna Mexican Restaurant

168

4,015

2.97%

10/91

10/21

$32,120

$2,677

$8.00

$34,954

$8.71

$67,074

8.02%

Best Insurance

176

1,605

1.19%

12/95

12/19

$23,273

$1,939

$14.50

$6,563

$4.09

$29,836

3.57%

Lovely Nails

180

900

0.66%

01/14

12/21

$12,500

$1,042

$13.89

$3,680

$4.09

$16,180

1.93%

New Sound Hearing

186

1,620

1.20%

09/96

09/19

$24,300

$2,025

$15.00

$6,625

$4.09

$30,925

3.70%

Optometry Group

190

1,600

1.18%

11/91

11/19

$24,000

$2,000

$15.00

$6,543

$4.09

$30,543

3.65%

VA Clinic

198

13,520

9.99%

09/10

03/21

$150,011

$12,501

$11.10

$166,991

$12.35

$317,002

37.91%

Foursquare Church

222

3,000

2.22%

06/07

05/20

$7,776

$648

$2.59

$4,224

$1.41

$12,000

1.44%

100A

50,526

37.33%

$0.00

0.00%

To God Be the Glory

108

2,710

2.00%

11/18

10/19

$19,776

$1,648

$7.30

$4,224

$1.56

$24,000

2.87%

Available

112

1,400

1.03%

$0.00

0.00%

Available

120

1,400

1.03%

$0.00

0.00%

Available

124

1,400

1.03%

$0.00

0.00%

Available

138

10,800

7.98%

$0.00

0.00%

Available

148

2,000

1.48%

$0.00

0.00%

Available

156

2,400

1.77%

$0.00

0.00%

Texas 1st Choice Realty

160

900

0.66%

11/18

10/19

$10,800

$900

$12.00

$3,680

$4.09

$14,480

1.73%

Available

164

2,421

1.79%

$0.00

0.00%

Available

184

2,991

2.21%

$0.00

0.00%

Available

216

2,300

1.70%

$0.00

0.00%

14,994

11.08%

$0.00

0.00%

$600,644

$50,054

$873,183

100.00%

Available

Storage Area Total Count/GLA

135,355

100%

Occupied

57,767

42.7%

Available

77,588

57.3%

$14.04

42,773

100.0%

Total Avg Rent

$272,539

F I N A N C I A L A N A LY S I S

ESTIMATED REIMBURSEMENT REVENUE - CURRENT

Tenant

Suite

SQ FT

% of SQFT

M AINLAND C R O SSING

CAM

Management Fee

Insurance

Real Estate Taxes

Total Recovery

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Rainbow

104

4,010

2.96%

$785

$2.35

$0.00

$785

$2.35

To God Be the Glory

108

2,710

2.00%

$277

$1.23

$0.00

$75

$0.33

$352

$1.56

Jackson Hewitt

116

1,400

1.03%

$288

$2.47

$42

$0.36

$71

$0.61

$76

$0.65

$477

$4.09

UTMB Health Care

128

3,495

2.58%

$719

$2.47

$105

$0.36

$178

$0.61

$189

$0.65

$1,191

$4.09

US Dept VA

144

2,310

1.71%

$0.00

Va'Nayes Hair Design

152

1,638

1.21%

$337

$2.47

$49

$0.36

$83

$0.61

$88

$0.65

$558

$4.09

Texas 1st Choice Realty

160

900

0.66%

$185

$2.47

$27

$0.36

$46

$0.61

$49

$0.65

$307

$4.09

Luna Mexican Restaurant

168

4,015

2.97%

$2,371

$7.09

$121

$0.36

$204

$0.61

$217

$0.65

$2,913

$8.71

Best Insurance

176

1,605

1.19%

$330

$2.47

$48

$0.36

$82

$0.61

$87

$0.65

$547

$4.09

Lovely Nails

180

900

0.66%

$185

$2.47

$27

$0.36

$46

$0.61

$49

$0.65

$307

$4.09

New Sound Hearing

186

1,620

1.20%

$333

$2.47

$49

$0.36

$82

$0.61

$87

$0.65

$552

$4.09

Optometry Group

190

1,600

1.18%

$329

$2.47

$48

$0.36

$81

$0.61

$86

$0.65

$545

$4.09

VA Clinic

198

13,570

10.03%

$13,093

$11.58

$0.00

$733

$0.65

$13,826

$12.23

Foursquare Church

222

3,000

2.22%

$277

$1.11

$0.00

$75

$0.30

$352

$1.41

Available

100A

50,526

37.33%

$0.00

Available

112

1,400

1.03%

$0.00

Available

120

1,400

1.03%

$0.00

Available

124

1,400

1.03%

$0.00

Available

138

10,800

7.98%

$0.00

Available

148

2,000

1.48%

$0.00

Available

156

2,400

1.77%

$0.00

Available

164

2,421

1.79%

$0.00

Available

184

2,991

2.21%

$0.00

Available

216

2,250

1.66%

$0.00

Storage Area

14,994

11.08%

$0.00

TOTALS

135,355

100%

$19,512

$516

$874

$1,810

$22,712

F I N A N C I A L A N A LY S I S

PRI CING & F INAN CI AL AN ALYSI S - PR O F ORMA

PROJECTED INCOME & EXPENSES Base Rent - Occupied Space GROSS POTENTIAL RENT

M AINLAND C R O SSING

CURRENT

PSF

$1,091,492

$8.06

$1,091,492

$8.06

Expense Reimbursements

EXPENSES

CURRENT

PSF

Real Estate Taxes

$77,984

$0.58

Insurance

$82,440

$0.61

CAM

CAM Recoveries

$425,794

$3.15

Janitorial

$62,729

$0.46

Management Fee Recoveries

$37,099

$0.27

Landscaping

$8,650

$0.06

Insurance Recoveries

$57,873

$0.43

Repairs & Maintenance

$81,385

$0.60

Real Estate Tax Recoveries

$71,990

$0.53

Security

$66,000

$0.49

$592,755

$4.38

UTL - Water & Sewer

$3,600

$0.03

UTL - Trash

$1,068

$0.01

Office Depot CAM

$2,396

$0.02

$73,876

$0.55

Discount Tire CAM

$2,281

$0.02

$297,308

$2.20

Total Other Revenue

$4,677

$0.03

$47,121

$0.35

Vacancy Reserve 7%

($118,225)

($0.87)

$504,853

$3.73

$1,570,700

$11.60

$297,308

$2.20

$47,121

$0.35

Total Insurance

$82,440

$0.61

Total Real Estate Taxes

$77,984

$0.58

$504,853

$3.73

$1,065,847

$7.87

Total Expense Reimbursements Other Revenue

EFFECTIVE GROSS REVENUE

UTL - Electricity Total CAM Management Fee Total Expenses

3.00%

Operating Expenses Total CAM Management Fee

Total Recoverable Expenses Net Operating Income

3.00%

F I N A N C I A L A N A LY S I S

RE NT RO L L - PR O FOR MA Tenant

Suite

M AINLAND C R O SSING SQ FT

% of SQFT

Lease Dates

Minimum Rent

Recoveries

Total

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

Rainbow

104

4,010

2.96%

02/99

01/23

$37,440

$3,120

$9.34

$9,420

$2.35

$46,860

2.84%

Jackson Hewitt

116

1,400

1.03%

07/00

04/22

$20,790

$1,733

$14.85

$5,756

$4.11

$26,546

1.61%

UTMB Health Care

128

3,495

2.58%

07/94

07/19

$44,561

$3,713

$12.75

$14,370

$4.11

$58,932

3.58%

US Dept VA

144

2,310

1.71%

04/17

03/22

$135,574

$11,298

$58.69

$0.00

$135,574

8.23%

Va'Nayes Hair Design

152

1,638

1.21%

12/06

11/20

$19,656

$1,638

$12.00

$6,735

$4.11

$26,391

1.60%

Luna Mexican Restaurant

168

4,015

2.97%

10/91

10/21

$32,120

$2,677

$8.00

$35,044

$8.73

$67,164

4.08%

Best Insurance

176

1,605

1.19%

12/95

12/19

$23,273

$1,939

$14.50

$6,599

$4.11

$29,872

1.81%

Lovely Nails

180

900

0.66%

01/14

12/21

$12,500

$1,042

$13.89

$3,701

$4.11

$16,201

0.98%

New Sound Hearing

186

1,620

1.20%

09/96

09/19

$24,300

$2,025

$15.00

$6,661

$4.11

$30,961

1.88%

Optometry Group

190

1,600

1.18%

11/91

11/19

$24,000

$2,000

$15.00

$6,579

$4.11

$30,579

1.86%

VA Clinic

198

13,520

9.99%

09/10

03/21

$150,011

$12,501

$11.10

$166,991

$12.35

$317,002

19.25%

Foursquare Church

222

3,000

2.22%

06/07

05/20

$7,776

$648

$2.59

$4,224

$1.41

$12,000

0.73%

100A

50,526

37.33%

$252,630

$21,053

$5.00

$207,746

$4.11

$460,376

27.95%

To God be the Glory

108

2,710

2.00%

11/18

10/19

$19,776

$1,648

$7.30

$4,224

$1.56

$24,000

1.46%

Lease Up Tenant

112

1,400

1.03%

$14,000

$1,167

$10.00

$5,756

$4.11

$19,756

1.20%

Lease Up Tenant

120

1,400

1.03%

$14,000

$1,167

$10.00

$5,756

$4.11

$19,756

1.20%

Lease Up Tenant

124

1,400

1.03%

$14,000

$1,167

$10.00

$5,756

$4.11

$19,756

1.20%

Lease Up Tenant

138

10,800

7.98%

$75,600

$6,300

$7.00

$44,406

$4.11

$120,006

7.29%

Lease Up Tenant

148

2,000

1.48%

$20,000

$1,667

$10.00

$8,223

$4.11

$28,223

1.71%

Lease Up Tenant

156

2,400

1.77%

$24,000

$2,000

$10.00

$9,868

$4.11

$33,868

2.06%

Texas 1st Choice Realty

160

900

0.66%

11/18

10/19

$10,800

$900

$12.00

$3,701

$4.11

$14,501

0.88%

Lease Up Tenant

164

2,421

1.79%

$24,210

$2,018

$10.00

$9,954

$4.11

$34,164

2.07%

Lease Up Tenant

184

2,991

2.21%

$29,910

$2,493

$10.00

$12,298

$4.11

$42,208

2.56%

Lease Up Tenant

216

2,300

1.70%

$23,000

$1,917

$10.00

$9,457

$4.11

$32,457

1.97%

14,994

11.08%

$0.00

0.00%

$1,091,492

$90,958

$1,684,247

100.00%

Lease Up Tenant

Storage Area Total Count/GLA

135,355

100%

Occupied

135,355

100.0%

Available

0.0%

$9.07

120,361

100.0%

Total Avg Rent

$592,755

F I N A N C I A L A N A LY S I S

ESTIMATED REIMBURSEMENT REVENUE - PRO FORMA

Tenant

Suite

SQ FT

% of SQFT

M AINLAND C R O SSING

CAM

Management Fee

Insurance

Real Estate Taxes

Total Recovery

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Rainbow

104

4,010

2.96%

$785

$2.35

$0.00

$785

$2.35

To God be the Glory

108

2,710

2.00%

$277

$1.23

$0.00

$75

$0.33

$352

$1.56

Jackson Hewitt

116

1,400

1.03%

$288

$2.47

$46

$0.39

$71

$0.61

$76

$0.65

$481

$4.12

UTMB Health Care

128

3,495

2.58%

$719

$2.47

$114

$0.39

$178

$0.61

$189

$0.65

$1,200

$4.12

US Dept VA

144

2,310

1.71%

$0.00

Va'Nayes Hair Design

152

1,638

1.21%

$337

$2.47

$53

$0.39

$83

$0.61

$88

$0.65

$562

$4.12

Texas 1st Choice Realty

160

900

0.66%

$185

$2.47

$29

$0.39

$46

$0.61

$49

$0.65

$309

$4.12

Luna Mexican Restaurant

168

4,015

2.97%

$2,371

$7.09

$131

$0.39

$204

$0.61

$217

$0.65

$2,923

$8.74

Best Insurance

176

1,605

1.19%

$330

$2.47

$52

$0.39

$82

$0.61

$87

$0.65

$551

$4.12

Lovely Nails

180

900

0.66%

$185

$2.47

$29

$0.39

$46

$0.61

$49

$0.65

$309

$4.12

New Sound Hearing

186

1,620

1.20%

$333

$2.47

$53

$0.39

$82

$0.61

$87

$0.65

$556

$4.12

Optometry Group

190

1,600

1.18%

$329

$2.47

$52

$0.39

$81

$0.61

$86

$0.65

$549

$4.12

VA Clinic

198

13,570

10.03%

$13,093

$11.58

$0.00

$733

$0.65

$13,826

$12.23

Foursquare Church

222

3,000

2.22%

$277

$1.11

$0.00

$75

$0.30

$352

$1.41

Lease Up Tenant

100A

50,526

37.33%

$10,401

$2.47

$1,648

$0.39

$2,571

$0.61

$2,728

$0.65

$17,348

$4.12

Lease Up Tenant

112

1,400

1.03%

$288

$2.47

$46

$0.39

$71

$0.61

$76

$0.65

$481

$4.12

Lease Up Tenant

120

1,400

1.03%

$288

$2.47

$46

$0.39

$71

$0.61

$76

$0.65

$481

$4.12

Lease Up Tenant

124

1,400

1.03%

$288

$2.47

$46

$0.39

$71

$0.61

$76

$0.65

$481

$4.12

Lease Up Tenant

138

10,800

7.98%

$2,223

$2.47

$352

$0.39

$550

$0.61

$583

$0.65

$3,708

$4.12

Lease Up Tenant

148

2,000

1.48%

$412

$2.47

$65

$0.39

$102

$0.61

$108

$0.65

$687

$4.12

Lease Up Tenant

156

2,400

1.77%

$494

$2.47

$78

$0.39

$122

$0.61

$130

$0.65

$824

$4.12

Lease Up Tenant

164

2,421

1.79%

$498

$2.47

$79

$0.39

$123

$0.61

$131

$0.65

$831

$4.12

Lease Up Tenant

184

2,991

2.21%

$616

$2.47

$98

$0.39

$152

$0.61

$161

$0.65

$1,027

$4.12

Lease Up Tenant

216

2,250

1.66%

$463

$2.47

$73

$0.39

$115

$0.61

$121

$0.65

$773

$4.12

Storage Area

14,994

11.08%

$0.00

TOTALS

135,355

100%

$35,483

$3,092

$4,823

$5,999

$49,396

F I N A N C I A L A N A LY S I S

L E A SE PROVIS ION S

Tenant

M AINLAND C R O SSING Base Rental Increases

Renewal Options

Termination Rights

Sales Reporting

Suite

SQ FT

Date

PSF

Options

Date

PSF

Rainbow

104

4,010

Tenant shall have the right to terminate the Lease if sales during any calendar year commencing with 2018 do not reach or exceed $425,000 by ninety (90) days prior written notice to the Landlord between January l st and June 30th of the subsequent year.

Yes

To God be the Glory

108

2,710

Jackson Hewitt

116

1,400

5/1/2019 5/1/2020

$14.82 $15.00

1x3

5/1/2022 5/1/2023 5/1/2024

$15.30 $15.61 $15.92

Landlord, after execution of this amendment by Landlord and Tenant, shall not enter into any lease, license, or other agreement with any other party allowing such party to use any portion of any other premises in the Shopping Center as a tax services or tax preparation provider

UTMB Health Care

128

3,495

US Dept VA

144

2,310

Va'Nayes Hair Design

152

1,638

Yes

Texas 1st Choice Realty

160

900

1x1

11/1/2019

$13.00

Luna Mexican Restaurant

168

4,015

11/1/2018

$8.00

Yes

Best Insurance

176

1,605

1/1/2019

$15.00

Lovely Nails

180

900

1/1/2019

$13.89

Yes

New Sound Hearing

186

1,620

10/1/2018

$15.00

Optometry Group

190

1,600

Yes

VA Clinic

198

13,570

Foursquare Church

222

3,000

Lease Up Tenant

100A

50,526

Lease Up Tenant

112

1,400

Lease Up Tenant

120

1,400

Lease Up Tenant

124

1,400

Lease Up Tenant

138

10,800

Lease Up Tenant

148

2,000

Lease Up Tenant

156

2,400

Lease Up Tenant

164

2,421

Lease Up Tenant

184

2,991

Lease Up Tenant

216

2,250

14,994

Storage Area

TOTAL

135,355

F I N A N C I A L A N A LY S I S

LOAN DETAILS

M AINLAND C R O SSING

EXISTING ASSUMABLE LOAN Purchase Price

$8,000,000

Original Loan Amount (3/1/2013)

$5,500,000

Interest Rate Amortization Schedule Loan Constant Call Residual Percentage Pro Forma NOI Annual Debt Service Pro Forma Clear Cash after DS Pro Forma Debt Service Coverage Ratio

4.66% 30 Years 6.19% 10 Years 80.50% $1,065,847 $340,716 $725,131 3.13

Pro Forma Cap Rate

13.32%

Cash on Cash Return

18.75%

Estimated Loan Balance on 1/1/2019 Loan to Purchase Price 1/1/2019

$4,944,587 62%

Assumable Loan Start Date

3/1/2013

Assumable Loan Maturity Date

2/1/2023

F I N A N C I A L A N A LY S I S 10

TE NA NT INF ORMAT I ON

M AINLAND C R O SSING

DBA

Rainbow

Entity on Lease

Rainbow USA, Inc.

Corporate/Franchise

Corporate

Locations

1,300 in the United States

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Rainbow Shops, commonly referred to as just Rainbow is a privately held, moderately priced American retail apparel chain comprising several lifestyle brands primarily targeting teens and young women.

DBA

Jackson Hewitt

Entity on Lease

Tax Services of America, Inc.

Corporate/Franchise

Corporate

Locations

6,000 Franchised and Company-Owned

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Jackson Hewitt Tax Service Inc. is the second-largest tax-preparation service in the United States; responsible for preparing over 2 million federal, state, and local income-tax returns each year.

PROPERTY DESCRIPTION

I N VE S TMENT HI GHLI GHT S

M AINLAND C R O SSING

• Desirable Value-Add Opportunity: With a current occupancy of 42.70%, immediate revenue growth is available with the lease-up of the available 77,588 square feet.

• Below Market Assumable Debt: The current assumable loan on the property provides an investor with a below market rate of 4.66% which is not achievable in today’s interest rate environment. Please see page 10 of the OM for details.

• High Growth Trade Area: High growth has been consistent in this area as evidenced by a 19.80% population growth within three miles since 2010. This same trade area has indications of 11.17% population growth projected over the next five years.

• Excellent Location in Texas City with High Traffic Counts: Situated along Emmett Lowry Expy between Houston and Galveston. Traffic counts along Interstate 45 exceed 69,150 Vehicles Per Day and 43,870 Vehicles Per Day Along Emmett Lowry Expy.

• Priced Below Replacement Cost: Mainland Crossing presents a compelling opportunity to acquire a retail asset at $65.31 per square foot which is well below replacement cost. PROPERTY DESCRIPTION

S I T E PL A N GLA 4,010

Texas 1st Choice Realty

900

168

Luna Mexican Restaurant

4,015 1,605

176

Best Insurance

180

Lovely Nails

900

186

New Sound Hearing

1,620

190

Optometry Group

1,600

198

VA Clinic

13,570

222

Foursquare Church

3,000

100A

Lease Up Tenant

50,526

112

Lease Up Tenant

1,400

120

Lease Up Tenant

1,400

124

Lease Up Tenant

1,400

138

Lease Up Tenant

10,800

148

Lease Up Tenant

2,000

156

Lease Up Tenant

2,400

164

Lease Up Tenant

2,421

184

Lease Up Tenant

2,991

216

Lease Up Tenant

5,000

Storage Area

14,994

Century Blvd

Farmerâ&#x20AC;&#x2122;s Copper Galveston County

16 1 4 15 60 6

1,638

160

Va'Nayes Hair Design

2,310

152

3,495

UTMB Health Care US Dept VA

128 144

1,400

2,710

Jackson Hewitt

To God be the Glory

116

190 186

108

198

Rainbow

216

Tenant

104

222

Suite

M AINLAND C R O SSING

152 148 144

138

128 124 120 116 112 108 104

Texas City Chamber of Commerce

100A

Storage

Emm

ett F

Low

ry E

xpy

PROPERTY DESCRIPTION

A E R I AL MA P

M AINLAND C R O SSING

EMM

ET T

F LO WR Y EX

PY COLLEGE OF THE MAINLAND

SIMMS ELEMENTARY

PROPERTY DESCRIPTION

L E A SE COMPA RABLES

Property Mainland Crossing Shopping Center ï&#x201A;« 9800 Emmett F Lowry Expy. Texas City, TX Palmer Plaza 1 3420-3470 Palmer Hwy. Texas City, TX

M AINLAND C R O SSING

GLA 135,355

96,526

Yr Built/ Renovated Occupancy 1991

1981/1993

Major Tenants

Available SF

Rental Rates

NNN

77,588

$8.00 - $16.00

$4.00

18,050

Anchor $8.00 - $12.00 In-line $15.00 - $20.00

$4.50

$4.00

42.7%

VA Clinic, Luna Mexican Restaurant, Rainbow Shop, UTMB Health Care, Jackson Hewitt, US Dept VA

81.3%

ALDI, Ross, Dollar Tree, Anytime Fitness, EZ Pawn, T-Mobile, ACE Cash Express

5,682

Anchor $8.00 - $10.00 In-line $12.00 - $18.00

131,215

1973/1997

95.7%

Kroger, Work Force Solution, SNG Dialysis, Payless Shoe Source, Sprint, Check 'n Go

Dickinson Plaza 3 3410-3436 Gulf Fwy. Dickinson, TX

82,670

1985/1993

90.3%

Kroger, Sherwin-Williams, T-Mobile, Subway, H&R Block, Pizza Hut

8,050

In-line $15.00 - $20.00

$3.60

Mainland Mall SC 4 5320 Texas Ave Texas City, TX

68,777

1968/1992

96.3%

Food Rite Market, Family Dollar, O'Reilly Auto Parts, H&R Block, Boost Mobile

2,556

$9.00

$2.50

3403-3565 Palmer Hwy Texas City, TX

PROPERTY DESCRIPTION

L E A SE COMPA RABLES

M AINLAND C R O SSING

Mainland Crossing 1

Palmer Plaza

3403 Palmer Hwy

Dickinson Plaza

Mainland Mall SC

1 2 4

PROPERTY DESCRIPTION

REG IONA L MA P

M AINLAND C R O SSING

Mainland Crossing

PROPERTY DESCRIPTION

LO C AL MA P

M AINLAND C R O SSING

Mainland Crossing

PROPERTY DESCRIPTION

M A R KET S U MMARY

M AINLAND C R O SSING

Houston, TX

OVERVIEW Houston is the most populous city in the state of Texas and the fourth-most populous city in the United States. With a census-estimated 2013 population of 6.49 million people within a land area of 10,062 square miles, Houston is the largest city in the Southern United States, the seat of Harris County, and fifth-most populated MSA in the United States. Houston was founded in 1836 on land near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city on June 5, 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles (40 km) east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center— the world’s largest concentration of healthcare and research institutions—and NASA’s Johnson Space Center, where the Mission Control Center is located.

Houston is recognized worldwide for its energy industry—particularly for oil and natural gas—as well as for biomedical research and aeronautics. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled. Nicknamed the Space City, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research. The city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is considered to be the most diverse city in Texas and the United States. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts.

Q U I C K S TAT S

1st

Most-Populous City in the State of Texas

Best City for Projected Annual Job Growth (Forbes)

Most-Populous City in the United States

Fortune 500 Companies Call Houston Home (Fortune)

PROPERTY DESCRIPTION

D E M OG RA PHIC STAT I ST I CS

M AINLAND C R O SSING

1 Mile

3 Mile

5 Mile

4,749 4,290 3,698 10.70% 16.01% 911

24,108 21,681 18,064 11.19% 20.02% 3,974

72,728 65,920 58,286 10.33% 13.10% 15,752

2,475 1,575 37 107 7 89 0

10,841 9,940 164 323 21 392 38

43,514 19,848 516 820 56 1,166 149

1,900 1,714 1,457 10.85% 17.64% 809 904 $72,206 $47,373

8,975 8,073 6,727 11.17% 20.01% 5,365 2,708 $66,404 $45,443

27,306 24,750 21,873 10.33% 13.15% 16,336 8,414 $67,064 $45,833

333 576 289 160 112 57 87 100

2,039 2,358 1,280 756 644 360 325 312

6,107 7,045 3,872 2,484 2,064 1,166 1,123 888

Population: 2023 Projection 2018 Estimate 2010 Census Growth 2018-2023 Growth 2010-2018 2018 Population Hispanic Origin

2018 Population by Race: White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces:

Households: 2023 Projection 2018 Estimate 2010 Census Growth 2018 - 2023 Growth 2010 - 2018 Owner Occupied Renter Occupied 2018 Avg Household Income (National Avg - $75,558) 2018 Med Household Income (National Avg - $53,889)

2018 Households by Household Inc: <$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+ Demographic data Â© CoStar 2018

P R O P E R T Y D E S C R I P T I O N 20

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 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, 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 1-0

exclusively listed 469.844.8880 | STRIVERE.COM