NORTHERN HILLS SHOPPING CENTER SAN ANTONIO, TX
PRICING & FINANCIAL ANALYSIS
NO R T H E R N H ILLS SH O P P ING C E NT E R
Northern Hills Shopping Center 12311 Nacogdoches Rd San Antonio, TX 78217
OFFERING SUMMARY Price Cap Rate Net Operating Income
$6,980,646 6.75% $471,186
Price PSF
$351.97
Occupancy
100.0%
Year Built Gross Leasable Area Lot Size
1983 19,833 SF 1.80 Acres
F I N A N C I A L A N A LY S I S
2
PRICING & FINANCIAL ANALYSIS
NO R T H E R N H ILLS SH O P P ING C E NT E R
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space
CURRENT 100%
GROSS POTENTIAL RENT
PSF
EXPENSES
PSF
$115,540
$5.83
$471,189
$23.76
Real Estate Taxes
$471,189
$23.76
Insurance
$18,751
$0.95
Total CAM
$58,852
$2.97
$27,680
$1.40
$220,824
$11.13
Expense Reimbursements CAM Recoveries
$58,852
$2.97
Management Fee
Management Fee Recoveries
$27,680
$1.40
Total Expenses
$18,751
$0.95
Real Estate Tax Recoveries
$115,540
$5.83
Total Expense Reimbursements
$220,824
$11.13
EFFECTIVE GROSS REVENUE
$692,010
$34.89
Insurance Recoveries
CURRENT
4.00%
Operating Expenses Total CAM
$58,852
$2.97
$27,680
$1.40
$18,751
$0.95
Total Real Estate Taxes
$115,540
$5.83
Total Recoverable Expenses
$220,824
$11.13
$471,186
$23.76
Management Fee Total Insurance
Net Operating Income
4.00%
F I N A N C I A L A N A LY S I S
3
RE NT RO L L
Tenant
NO R T H E R N H ILLS SH O P P ING C E NT E R
Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
Dunkin Donuts
A-1
2,400
12.10%
07/13
07/23
$69,600
$5,800
$29.00
$26,722
$11.13
$96,322
13.92%
Great Clips
A-2
1,406
7.09%
02/18
08/24
$33,744
$2,812
$24.00
$15,655
$11.13
$49,399
7.14%
Lin's Express
A-3
3,100
15.63%
04/19
04/24
$65,100
$5,425
$21.00
$34,516
$11.13
$99,616
14.40%
Mariner Financial
A-4
1,806
9.11%
06/16
05/21
$42,441
$3,537
$23.50
$20,108
$11.13
$62,549
9.04%
Dental
A-5
1,800
9.08%
02/18
01/28
$48,600
$4,050
$27.00
$20,042
$11.13
$68,642
9.92%
Laundrey Rey's
A-6
3,321
16.74%
01/19
12/28
$79,704
$6,642
$24.00
$36,977
$11.13
$116,681
16.86%
Longhorn Café
A-7
6,000
30.25%
12/17
11/27
$132,000
$11,000
$22.00
$66,805
$11.13
$198,805
28.73%
Total Count/GLA
7
19,833
100%
Totals
$471,189
$39,266
$692,013
100.00%
Occupied
7
19,833
100.0%
Available
0
0
0.0%
$23.76
19,833
100.0%
Total Avg Rent
$220,824
F I N A N C I A L A N A LY S I S
4
E ST I M AT ED R EIM BU RS EM ENT REVE NUE Tenant
Suite
SQ FT
% of SQFT
NO R T H E R N H ILLS SH O P P ING C E NT E R CAM
Management Fee
Insurance
Real Estate Taxes
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Dunkin Donuts
A-1
2,400
12.10%
$593
$2.97
$279
$1.40
$189
$0.95
$1,165
$5.83
$2,227
$11.13
Great Clips
A-2
1,406
7.09%
$348
$2.97
$164
$1.40
$111
$0.95
$683
$5.83
$1,305
$11.13
Lin's Express
A-3
3,100
15.63%
$767
$2.97
$361
$1.40
$244
$0.95
$1,505
$5.83
$2,876
$11.13
Mariner Financial
A-4
1,806
9.11%
$447
$2.97
$210
$1.40
$142
$0.95
$877
$5.83
$1,676
$11.13
Dental
A-5
1,800
9.08%
$445
$2.97
$209
$1.40
$142
$0.95
$874
$5.83
$1,670
$11.13
Laundrey Rey's
A-6
3,321
16.74%
$821
$2.97
$386
$1.40
$262
$0.95
$1,612
$5.83
$3,081
$11.13
Longhorn Café
A-7
6,000
30.25%
$1,484
$2.97
$698
$1.40
$473
$0.95
$2,913
$5.83
$5,567
$11.13
19,833
100%
$4,904
TOTALS
$2,307
$1,563
$9,628
$18,402
F I N A N C I A L A N A LY S I S
5
L E A SE PROVIS ION S
Tenant
Suite
NO R T H E R N H ILLS SH O P P ING C E NT E R
SQ FT
Base Rental Increases
Renewal Options
Date
PSF
Options
Date
PSF
User Restrictions & Exclusive Rights
Sales Reporting
Dunkin Donuts
A-1
2,400
-
-
2x5
8/1/2023 8/1/2028
$31.90 $35.09
Landlord shall not lease space in the portion of the Shopping Center controlled by Landlord to Shipley's donuts, Starbucks, Krispy Kreme, or any restaurant whose primary business is the sale of coffee, donuts, bagels or breakfast pastries.
Yes
Great Clips
A-2
1,406
9/1/2019
$26.40
1x5
9/1/2024
$29.04
Exclusive use to operate as a hair salon
Yes
Lin's Express
A-3
3,100
4/1/2021 4/1/2023
$23.00 $25.00
2x5
5/1/2024 5/1/2029
$27.50 $30.25
Exclusive use to sell and prepare Asian/Chinese Food, Pho & Ramen
Yes
Mariner Financial
A-4
1,806
-
-
2x5
6/1/2021 6/1/2025
$25.85 $28.44
Exclusive use to operate as a consumer finance office
No
Dental
A-5
1,800
2/1/2020 2/1/2021 2/1/2022
$28.64 $29.49 $32.47
2x5
2/1/2028 2/1/2033
$35.72 $39.29
Exclusive use to operate as a general and pediatric dentist
No
Laundrey Rey's
A-6
3,321
1/1/2024
$26.40
2x5
1/1/2029 1/1/2024
$29.04 $31.94
Exclusive right to operate as a laundromat
Yes
Longhorn CafĂŠ
A-7
6,000
12/1/2022
$24.20
2x5
12/1/2027 12/1/2032
$26.62 $28.28
Exclusive right to operate as a Hamburger restaurant.
No - Gross Sales Yes - Tenant Finacial Disclosure
TOTAL
19,833
F I N A N C I A L A N A LY S I S
6
TE NA NT INF ORMAT I ON
NO R T H E R N H ILLS SH O P P ING C E NT E R
DBA
Dunkin’
Entity on Lease
SAI 1 Franchising, LLC
Locations
11,000+ Locations Worldwide
Public/Private
Public
Line of Business
Dunkin’ Donuts, currently rebranding its stores as Dunkin’, is an American multinational coffee company and quick service restaurant. Founded in Quincy, Massachusetts in 1950, Dunkin’ began rebranding as a “beverage-led company”, and was renamed Dunkin’, in January 2019. With nearly 12,000 locations in 36 countries, Dunkin’ is one of the largest coffee and baked goods chains in the world. Its products include donuts, bagels, other baked goods, and a variety of hot and iced beverages
DBA
Great Clips
Entity on Lease
K2RB, LLC
Locations
4,100+ Locations Worldwide
Public/Private
Private
Line of Business
Great Clips is a hair salon franchise with over 4,100 locations across the United States and Canada. The first Great Clips salon opened under the name Super Clips near the University of Minnesota campus in September 1982. The company is known for no-appointment, nofrills salons that provide customers with affordable haircuts. Great Clips has also engineered multiple innovations, including Online Check-In, the industry’s first real-time check-in application, and Clip Notes, which tracks customer data and provide consistent customer service across salons.
DBA
Mariner Finance
Entity on Lease
Mariner Finance, LLC
Locations
450+ Locations
Public/Private
Public
Line of Business
Mariner Finance is a consumer lending company based in Baltimore. Along with its affiliates, Mariner Finance now features over 450 branches in 22 states throughout the country. Superior customer service is the cornerstone of the company’s business, as Mariner Finance delivers a variety of loans offered by our competitors with an enhanced focus on exceptional service. Mariner Finance work with customers to find options that are beneficial to their specific needs, which is why the company is recognized as a rising consumer finance company.
PROPERTY DESCRIPTION
7
TE NA NT INF ORMAT I ON
NO R T H E R N H ILLS SH O P P ING C E NT E R
DBA
Longhorn Café
Entity on Lease
Longhorn Cafe Series, LLC
Locations
8 Locations in Texas
Public/Private
Private
Line of Business
The Longhorn Café is a casual dining restaurant founded in San Antonio in the 1950s. The restaurant started out as a small taco stand before getting purchased casual dining by two local San Antonians who renamed the restaurant to the Longhorn Café and transformed it into a burger joint. The company expanded in 2002 with a location in Leon Springs, Texas, with another six locations built in the last 15 years. Longhorn Café serves burgers, onion rings, fried mushrooms, Chicken Fried Steak and salads.
DBA
Laundry Rey’s
Entity on Lease
Laundry Rey’s, LLC
Locations
5 Locations in San Antonio
Public/Private
Private
Line of Business
Laundry Rey’s is a full-service laundromat with five locations in San Antonio. The company’s locations offer Large Capacity machines with sizes ranging from 20- to 80-pound-capacity washers to 75-pound-capacity dryers along with and soda/snack machines. Additionally, Laundry Rey’s fully trained and professional staff will do clients’ laundry for them, allowing clients the ability to just drop it off their laundry.
PROPERTY DESCRIPTION
8
I N VE S TMENT HI GHLI GHT S
NO R T H E R N H ILLS SH O P P ING C E NT E R
• Walmart Supercenter: Northern Hills Shopping Center is shadow anchored by a high performing Walmart Supercenter. The property adjoins a primary Walmart access point. Traffic counts exceed 16,950 vehicles per day off Nacogdoches Rd. and 23,800 vehicles per day off Thousand Oaks. • Major Retail Corridor: Northern Hills Shopping Center is situated within a major retail corridor of San Antonio. Along with the Walmart Supercenter, retail tenants such as Whataburger, Gold’s Gym, Bank of America, Walgreens, Domino’s, BaskinRobbins, HEB, and 7-Eleven, among others, generate very high levels of consumer traffic in the immediate area. • E-Commerce Resilient: The tenancy of Northern Hills Shopping Center consists exclusively of restaurant and service oriented uses, mitigating the risk of e-commerce competition, while also filling the “experiential retail” need expected by consumers today. • Built-In Upside: Five of the seven tenants in the property have scheduled increases in their base rent, virtually guarantying an increased NOI over the first five years of ownership of Northern Hills. This represents 79% of the leased space that has scheduled increases in their base term. In five years the NOI is scheduled to be $517,976 which equates to a 7.42% return on the ask price. Additionally, all of the tenants have scheduled increases in their options to renew. • Outstanding Tenant Longevity: Over half of the tenants at the property are on 10-year leases. This represents 68% of the current square footage and speaks to the longevity of the cash flow at the property. • Strong Tenant Lineup: Every single tenant at the property has multiple locations, with three of the five having over 450 locations and being nationally recognized names. PROPERTY DESCRIPTION
9
S I T E PL A N
NO R T H E R N H ILLS SH O P P ING C E NT E R
PROPERTY DESCRIPTION
10
S I T E PL A N
NO R T H E R N H ILLS SH O P P ING C E NT E R
PROPERTY DESCRIPTION
11
A E R I AL MA P
NO R T H E R N H ILLS SH O P P ING C E NT E R
D
,4
30
N
O C A
G
D
O
C
H
ES
R
40
VP
WOODSTONE ELEMENTARY SCHOOL
D
EL DORADO ELEMENTARY SCHOOL
TH
O
U
SA
N
D
O A
KS 23,800 VPD
PROPERTY DESCRIPTION
12
L E A SE COMPA RABLES
Property
NO R T H E R N H ILLS SH O P P ING C E NT E R
GLA
Yr Built/ Renovated Occupancy
Major Tenants
Available SF
Rental Rates
NNN
Northern Hills SC 12311 Nacogdoches Rd San Antonio, TX
19,815
1983
100.0%
Dunkin Donuts, Great Clips, Lin's Express, Longhorn Café (Walmart Supercenter Shadow)
0
$21.00 - $29.00
$8.84
Blanco Shopping Center 1 12711 Blanco Rd San Antonio, TX
7,000
2016
100.0%
Starbucks, Supercuts, Sprint, Apartment Search (Walmart Supercenter Shadow)
0
$33.00 - $36.00
$9.50
Sonterra Park Market 2 1321 N Loop 1604 E San Antonio, TX
17,730
2003
100.0%
Five Guys, Kid To Kid, Eyemart Express (Walmart & Costco Shadow)
0
$33.00 - $25.00
$9.00
Northlake Market 3 520 Kitty Hawk Rd Universal City, TX
10,040
2018
70.1%
T-Mobile, Smile Workshop (Walmart Supercenter Shadow)
3,000
$27.00
$6.00
Walzem & Parkcrest Dr 4 5007 Parkcrest Dr San Antonio, TX
7,250
2017
63.4%
Great Clips, National Visions (Walmart Supercenter Shadow)
2,650
$24.00
$7.50
Wal Mart Super Retail 5 1432 Austin Hwy San Antonio, TX
26,595
2004
77.4%
Gamestop, Sprint, 4Nails, Navy Federal Credit Union (Walmart Supercenter Shadow)
6,000
$26.00 - $30.00
$8.16
PROPERTY DESCRIPTION
13
L E A SE COMPA RABLES
NO R T H E R N H ILLS SH O P P ING C E NT E R
Northern Hills SC 1
Blanco Shopping Center
2
Sonterra Park Market
3
Northlake Market
4
Walzem & Parkcrest Dr
5
Walmart Super Retail
2
1 3
4
5
PROPERTY DESCRIPTION
14
LO C AL MA P
NO R T H E R N H ILLS SH O P P ING C E NT E R
PROPERTY DESCRIPTION
15
REG IONA L MA P
NO R T H E R N H ILLS SH O P P ING C E NT E R
PROPERTY DESCRIPTION
16
M A R KET S U MMARY
NO R T H E R N H ILLS SH O P P ING C E NT E R
San Antonio, TX
OVERVIEW San Antonio is the seventh-most populated city in the United States of America and the secondmost populated city in the state of Texas, with more than 1.5 million residents. From 2016 to 2017, San Antonio was the fastest growing city in the United States, with the largest population gain in the country during this period. 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. 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 called Greater San Antonio, the metro area has a population of 2,473,974 based on the 2017 U.S. census estimate, making it the 24thlargest 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 also home to U.S. Air Force Basic Military Training (AFBMT). San Antonio hosts over 100,000 students at over 30 institutions of higher education. Publicly supported schools include UT Health San Antonio, Texas A&M University–San Antonio, and the University of Texas at San Antonio (UTSA), San Antonio’s largest university. Additionally, 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. San Antonio has a diversified economy with a gross domestic product of approximately $96.8 billion. This ranks the city fourth in Texas and 38th in the U.S.
PROPERTY DESCRIPTION
17
D E M OG RA PHIC STAT I ST I CS
NO R T H E R N H ILLS SH O P P ING C E NT E R
1 MILE
3 MILE
5 MILE
16,839
118,930
293,326
2018 Estimate
15,584
110,092
270,693
2010 Census
14,062
99,505
239,381
Population: 2023 Projection
Growth 2018-2023
8.05%
8.03%
8.36%
Growth 2010-2018
10.82%
10.64%
13.08%
7,835
49,354
116,758
White
12,917
89,945
217,702
Black
2018 Population Hispanic Origin
2018 Population by Race: 1,705
12,070
32,229
Am. Indian & Alaskan
191
1,239
3,046
Asian
323
3,379
9,337
Hawaiian & Pacific Island
34
328
829
Other
414
3,131
7,548
U.S. Armed Forces:
45
436
1,815
6,592
45,726
112,613
Households: 2023 Projection 2018 Estimate
6,124
42,477
104,309
2010 Census
5,609
38,894
93,603
Growth 2018 - 2023
7.64%
7.65%
7.96%
Growth 2010 - 2018
9.18%
9.21%
11.44%
Owner Occupied
3,380
26,413
64,576
2,744
16,064
39,733
2018 Avg Household Income
Renter Occupied
$61,423
$70,941
$74,087
2018 Med Household Income
$51,263
$58,762
$58,557
2018 Households by Household Inc: <$25,000
1,329
7,445
18,169
$25,000 - $50,000
1,647
10,002
24,971
$50,000 - $75,000
1,341
9,446
21,940
$75,000 - $100,000
862
6,629
15,295
$100,000 - $125,000
515
4,128
10,059
$125,000 - $150,000
230
2,165
5,852
$150,000 - $200,000
105
1,625
4,296
$200,000+
93
1,039
3,726
Demographic data © CoStar 2018
PROPERTY DESCRIPTION
18
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