PARKWOOD 121 PLANO, TX (DFW MSA)
PRICING & FINANCIAL ANALYSIS
PAR K WO O D 1 2 1
Parkwood 121
Parkwood 121
8448 Parkwood Blvd Plano, TX 75034
OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built Gross Leasable Area Lot Size
$10,425,000 7.00% $730,095 $546.78 100.0% 2016 19,066 SF 2.58 Acres
F I N A N C I A L A N A LY S I S
2
PRICING & FINANCIAL ANALYSIS
PAR K WO O D 1 2 1
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space
CURRENT 100%
GROSS POTENTIAL RENT
PSF
EXPENSES
CURRENT
PSF
$105,989
$5.56
$10,135
$0.53
Security & Life Safety
$2,081
$0.11
$719,149
$37.72
Real Estate Taxes
$719,149
$37.72
Insurance
Expense Reimbursements
CAM
CAM Recoveries*
$120,402
$6.31
$39,820
$2.09
Janitorial
$3,700
$0.19
$10,135
$0.53
Repairs & Maintenance
$23,123
$1.21
Real Estate Tax Recoveries
$105,989
$5.56
Landscaping
$13,132
$0.69
Total Expense Reimbursements
$276,345
$14.49
Electricity
$3,780
$0.20
EFFECTIVE GROSS REVENUE
$995,494
$52.21
Water/Sewer/Drainage
$38,000
$1.99
Sprinkler/Irrigation
$4,000
$0.21
Trash
$21,640
$1.14
$109,456
$5.74
$39,820
$2.09
$265,400
$13.92
Management Fee Recoveries Insurance Recoveries
Operating Expenses Total CAM
$109,456
$5.74
$39,820
$2.09
$10,135
$0.53
Management Fee
$105,989
$5.56
Total Expenses
Total Recoverable Expenses
$265,400
$13.92
Net Operating Income
$730,095
$38.29
Management Fee Total Insurance Total Real Estate Taxes
4.00%
Total CAM 4.00%
* CAM Recoveries include 10% of CAM Admin. Fee reimbursement.
F I N A N C I A L A N A LY S I S
3
RE NT RO L L
Tenant
PAR K WO O D 1 2 1
Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
Benedict's
1-100
4,128
21.65%
05/17
07/27
$156,864
$13,072
$38.00
$59,832
$14.49
$216,696
21.77%
The Halal Guys
2-100
2,611
13.69%
06/17
05/22
$101,829
$8,486
$39.00
$37,844
$14.49
$139,673
14.03%
Terriyaki Madness
2-300
1,600
8.39%
04/17
07/27
$59,200
$4,933
$37.00
$23,191
$14.49
$82,391
8.28%
Wa Kubota Japanese Restaurant
2-700
3,334
17.49%
04/17
07/27
$130,026
$10,836
$39.00
$48,323
$14.49
$178,349
17.92%
O'Desi Aroma
2-500
2,075
10.88%
03/17
06/22
$74,700
$6,225
$36.00
$30,075
$14.49
$104,775
10.52%
Tacodeli
1-500
2,600
13.64%
12/17
03/23
$101,400
$8,450
$39.00
$37,685
$14.49
$139,085
13.97%
Bellagio Nails
1-300
2,718
14.26%
01/18
05/28
$95,130
$7,928
$35.00
$39,395
$14.49
$134,525
13.51%
TOTAL COUNT / GLA
7
19,066
100%
$719,149
$59,929
$995,494
100.00%
OCCUPIED
7
19,066
100.0%
AVAILABLE
0
0
0.0%
$37.72
19,066
100.0%
Total Avg Rent / GLA
$276,345
F I N A N C I A L A N A LY S I S
4
ESTIMATED REIMBURSEMENT REVENUE
Tenant
Suite
SQ FT
PAR K WO O D 1 2 1
% of SQFT
CAM
Management Fee
Insurance
Real Estate Taxes
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Benedict's
1-100
4,128
21.65%
$2,172
$6.31
$718
$2.09
$183
$0.53
$1,912
$5.56
$4,986
$14.49
The Halal Guys
2-100
2,611
13.69%
$1,374
$6.31
$454
$2.09
$116
$0.53
$1,210
$5.56
$3,154
$14.49
Terriyaki Madness
2-300
1,600
8.39%
$842
$6.31
$278
$2.09
$71
$0.53
$741
$5.56
$1,933
$14.49
Wa Kubota Japanese Restaurant
2-700
3,334
17.49%
$1,755
$6.31
$580
$2.09
$148
$0.53
$1,544
$5.56
$4,027
$14.49
O'Desi Aroma
2-500
2,075
10.88%
$1,092
$6.31
$361
$2.09
$92
$0.53
$961
$5.56
$2,506
$14.49
Tacodeli
1-500
2,600
13.64%
$1,368
$6.31
$453
$2.09
$115
$0.53
$1,204
$5.56
$3,140
$14.49
Bellagio Nails
1-300
2,718
14.26%
$1,430
$6.31
$473
$2.09
$120
$0.53
$1,259
$5.56
$3,283
$14.49
19,066
100%
$10,033
TOTALS
$3,318
$845
$8,832
$23,029
* CAM Recoveries include 10% of CAM Admin. Fee reimbursement.
F I N A N C I A L A N A LY S I S
5
LEASE PROVISIONS
Tenant
Suite
PAR K WO O D 1 2 1
SQ FT
Base Rental Increases
User Restrictions & Exclusive Rights
Renewal Options
Date
PSF
Options
Date
PSF
Sales Reporting
Benedict's
1-100
4,128
2/1/2020 2/1/2025
$40.00 $42.00
2x5
8/1/2027 8/1/2032
$46.20 $50.82
Exclusive right to operate a full service breakfast/lunch restaurant
Yes, at LL Request
The Halal Guys
2-100
2,611
12/1/2019
$41.00
2x5
6/1/2022 6/1/2027
$43.87 $48.26
Exclusive right to sell gyros - Specifically excluded are Zoe's Kitchen, Little Greek, Statos & Ziki's, and Fadi's Med. Grill
Yes, at LL Request
Terriyaki Madness
2-300
1,600
8/1/2022
$39.00
2x5
8/1/2027 8/1/2032
$42.90 $47.19
Exclusive right to sell Chicken Teriyaki Bowls
Yes
Wa Kubota Japanese Restaurant
2-700
3,334
8/1/2018 8/1/2019 8/1/2020 8/1/2021 8/1/2022 8/1/2024
$39.00 $40.00 $41.00 $42.00 $43.00 $44.00
-
8/1/2027 8/1/2032
$47.00 $50.00
Exclusive right to sell Sushi as primary menu item
Yes
O'Desi Aroma
2-500
2,075
7/1/2019 7/1/2020 7/1/2021
$37.00 $38.00 $39.00
2x5
8/1/2022 8/1/2027
$42.90 $47.19
Exclusive right to sell Indian Food
Tacodeli
1-500
2,600
7/1/2020
$41.00
3x5
4/1/2023 4/1/2028 4/1/2033
$42.90 $47.19 $51.91
Exclusive right to operate a Mexican restaurant with counter service only
Bellagio Nails
1-300
2,718
12/1/2020 6/1/2023 6/1/2024 6/1/2025 6/1/2026 6/1/2027
$36.00 $36.90 $37.82 $38.77 $39.74 $40.73
1x5
6/1/2028 6/1/2029 6/1/2030 6/1/2031 6/1/2032
$41.75 $42.79 $43.86 $44.96 $46.08
TOTAL
Yes, at LL Request Yes, Annually at LL Request
-
Yes
19,066
F I N A N C I A L A N A LY S I S
6
TE NA NT INF ORMAT I ON
PAR K WO O D 1 2 1
DBA
Benedict’s
Entity on Lease
Pugmeister, LLC
Locations
3
Credit Rating
Not Rated
Public/Private
Private
Line of Business
Benedict’s takes pride in using the finest and freshest ingredients available, offering a wonderful mix of breakfast, lunch and brunch. A mouth-watering menu of omelettes, pancakes and several varieties of Eggs Benedict, plus reasonable prices and elegant surroundings makes Benedict’s the best reason to get up in the morning. And when lunch rolls around, head to Benedict’s for tasty sandwiches, garden-fresh salads and juicy burgers.
DBA
The Halal Guys
Entity on Lease
DBJ Ventures Inc.
Locations
72
Credit Rating
Not Rated
Public/Private
Private
Line of Business
The Halal Guys are the pioneers of American halal food, a melting pot of Middle Eastern and Mediterranean cuisine. Starting out as a New York City food cart, The Halal Guys now has over 200 fast casual restaurants open or in development worldwide.
PROPERTY DESCRIPTION
7
TE NA NT INF ORMAT I ON
PAR K WO O D 1 2 1
DBA
Teriyaki Madness
Entity on Lease
KriyAnsh Inc.
Locations
56
Credit Rating
Not Rated
Public/Private
Private
Line of Business
Teriyaki Madness is a Seattle-based fast casual restaurant specialing in asian fusion bowls with your choice of protien, rice, noodles and vegetables. They have over 45 locations open nationwide.
DBA
Tacodeli
Entity on Lease
Tacodeli DFW IV, LLC
Locations
10
Credit Rating
Not Rated
Public/Private
Private
Line of Business
Tacodeli opened in Austin, TX in 1999 as a counter-service taqueria inspired by a mix of Austin Texmex and authentic Mexican food. Tacodeli has a large menu and hand-prepared food made with quality ingredients.
PROPERTY DESCRIPTION
8
TE NA NT INF ORMAT I ON
PAR K WO O D 1 2 1
DBA
Bellagio Nail Bar
Entity on Lease
Anna Nguyen and Ngan Kim Lam
Locations
6
Credit Rating
Not Rated
Public/Private
Private
Line of Business
Bellagio Nail Bar is an pscale nail salon providing the latest trends and services in nail care, and staffed by the best and most experienced nail technicians who not only have the right skills, but also possessing great personalities and attention to detail.
DBA
Wa Kubota
Entity on Lease
Restaurant Kubota LLC
Locations
1
Credit Rating
Not Rated
Public/Private
Private
Line of Business
Elegant Japanese restaurant providing a full menu of traditional Japanese cuisine in a posh setting.
DBA
oda (O’Desi aroma)
Entity on Lease
Atithi Hospitality, LLC
Locations
1
Credit Rating
Not Rated
Public/Private
Private
Line of Business
Fast casual Indian restaurant providing fresh, homemade sauces and cuisine.
PROPERTY DESCRIPTION
9
I N VE S TMENT HI GHLI GHT S
•
PAR K WO O D 1 2 1
Brand New Construction: Parkwood 121 is a high-quality, newly constructed retail development that delivered in early 2017. This will benefit an investor as minimal capital improvements, if any, are likely to be required in the near future.
SAM RAYBURN TOLLWAY
•
Relevant Design: Possessing a contemporary architectural style with many unique features, such as its spacious breezeway, enveloping landscape plan, and multiple large patio seating areas, Parkwood 121 combines appealing aesthetics, design functionality, and an experience oriented environment for its patrons. R PA
•
Stabilized Asset: The Property is currently 100% occupied with 66% of the leases not expiring until 2027 or later, providing an investor with stable long term cash flow. Additionally, the majority of leases have scheduled rental increases throughout their terms, providing an investor substantial contractual revenue growth throughout the holding period.
•
E-Commerce Resistant: The tenancy of Parkwood 121 Village 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.
O KW
B OD
D LV
PROPERTY DESCRIPTION
10
I N VE S TMENT HI GHLI GHT S
•
Prolific Area Traffic Generators: Located in Legacy Business Park and included in the prestigious “$5 Billion Mile”, Parkwood 121 benefits greatly from the explosive growth in employment, tourism, and consumerism that has recently occurred in this area of northwest Plano/Frisco, which is widely recognized as one of the fastest growing markets in the country. This growth can be largely attributed to the influx of multiple Fortune 500 employers into several new mixed use developments of massive scale (Granite Park, Legacy West, Hall Office Park, Frisco Station, The Gate, among others), and the newly developed Dallas Cowboys headquarters project deemed “The Star”, which has quickly evolved into a worldwide tourist attraction.
•
Tremendous Trade Area with High Growth & Incomes: Parkwood 121 is located at the hub of this very affluent and extremely fast-growing northwest Plano/Frisco sector of DFW. High growth has been consistent in this area as evidenced since 2010, with 51.44% growth occurring within a one-mile radius. This same trade area has indications of 15.95% growth projected over the next five years. Within a three-mile radius of Parkwood 121, there are currently 114,594 residents, which increases to 339,244 residents within five miles of the Property. Additionally, the household incomes of the resident population within a three and five miles radius are $136,061and $132,403 respectively, which is about 1.75 times the national average. Further benefitting the Property is a daytime population comprising 93,595 employees within three miles, and a 157,527 daytime population within five miles.
•
Exceptional Positioning with High Traffic Counts: Having proximity to both the Sam Rayburn Tollway and the Dallas North Tollway, Parkwood 121 is conveniently accessible from two of the heaviest traveled thoroughfares in DFW. Both the Sam Rayburn Tollway and the Dallas North Tollway have daily vehicle counts exceeding 100,000, with Parkwood Blvd. having daily vehicle counts exceeding 15,000.
PAR K WO O D 1 2 1
PARK WOOD BL VD
R PA
OO W K
D
VD BL
PROPERTY DESCRIPTION
11
S I T E PL A N
PAR K WO O D 1 2 1
3,334 SF
2,075 SF
1,600 SF
2,611 SF
2,60
0 SF
2,718
SF 4,128
SF
PROPERTY DESCRIPTION
12
A E R I AL MA P
PAR K WO O D 1 2 1
SOUTH FRISCO VILLAGE
DR PEPPER ARENA & BALLPARK
STONEBRIAR CENTRE
RK PA OO W
PRESTON VILLAGE SHOPPING CENTER
D VD BL
103,010 VPD
PRESTON CREEK SHOPPING CENTER
10,339 VPD
HEADQUARTERS VILLAGE
PROPERTY DESCRIPTION
13
TI5T B $ LE I LLION MILE
PAR K WO O D 1 2 1
6
2
1
3
4
5 SA M R
1
Frisco Station
2
The Star
AYBUR N
TOLLW AY
OD BLVD PARK WO
3 The Gate 4 Legacy West 5 Granite Park 6 Hall Office Park
PROPERTY DESCRIPTION
14
LO C AL MA P
PAR K WO O D 1 2 1
Parkwood 121
PROPERTY DESCRIPTION
15
REG IONA L MA P
PAR K WO O D 1 2 1
Parkwood 121
PROPERTY DESCRIPTION
16
M A R KET S U MMARY
PAR K WO O D 1 2 1
Dallas - Fort Worth, TX
OVERVIEW Dallas encompasses half of the Dallas/Fort Worth Metroplex and is the third-largest city in Texas and the ninth-largest city in the United States. Dallas is home to the third-largest concentration of Fortune 500 companies in the country and is the largest economic center of the Dallas/Fort Worth metropolitan area. The Metroplex has strong submarket occupancy rates, is home to more shopping centers per capita and has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city is the largest economic center of the 12-county Dallas–Fort Worth–Arlington metropolitan area, which had a population of 6,810,913 people as of July 1, 2013. The metropolitan economy is the sixth largest in the United States, with a 2012 real GDP of $420.34 billion. In 2013 the metropolitan area led the nation with the largest year-over-year increase in employment, and advanced to become the fourth-largest employment center in the nation (behind New York City, Los Angeles, and Chicago) with more than three million non-farm jobs. In the
latest rankings released in 2013, Dallas was rated as a “beta plus” world city by the Globalization and World Cities Study Group & Network. Dallas is also ranked 14th in world rankings of GDP by the Organization for Economic Co-operation and Development. The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 22. Dallas is the best-ranked city on the Regulatory Climate Index thanks to its efficient local regulations. Entrepreneurs and small businesses can expect a welcoming business environment across all five areas of local regulation. Dallas scores above average across each meaningful measure of an interaction that a business has with a local government agency through procedure, time, and cost. These rankings reflect the city’s continuing efforts to develop programs and initiatives to strengthen the business environment, provide access to capital, and encourage economic growth at the local level.
Q U I C K S TAT S
2 3rd 4th 22
nd
Texas, Fastest Growing Economy in the U.S. (24/7 Wall St.) Fastest Growing Cities in the U.S. (Forbes) Largest Metropolitan Area in the United States Fortune 500 Companies Call DFW Home (Fortune)
10K
Home to over 10,000 corporate headquarters, making it the largest concentration in the U.S.
PROPERTY DESCRIPTION
17
D E M OG RA PHIC STAT I ST I CS
PAR K WO O D 1 2 1
1 Mile
3 Mile
5 Mile
8,179 7,054 4,658 15.95% 51.44% 811
114,594 100,904 83,622 13.57% 20.67% 10,130
339,244 298,056 243,731 13.82% 22.29% 34,233
4,504 1,017 26 1,266 23 219 25
66,601 7,734 503 23,249 79 2,737 104
205,847 22,563 1,624 59,646 195 8,181 224
5,261 4,527 2,885 16.21% 56.92% 160 4,367 $84,061 $71,926
45,444 40,030 32,944 13.52% 21.51% 22,298 17,732 $136,061 $109,255
128,049 112,620 92,153 13.70% 22.21% 71,663 40,957 $132,403 $107,238
516 1,050 786 920 422 378 273 182
2,604 4,820 5,088 5,837 4,500 4,156 5,354 7,671
7,307 14,404 15,373 15,260 13,702 11,264 15,431 19,881
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 2018 Med Household Income
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 © CoStar 2017
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