Richland Village - Richardson, TX by STRIVE

RICHLAND VILLAGE RICHARDSON, TX

PRICING & FINANCIAL ANALYSIS

R IC H LAND V ILLAG E

Richland Village 1300 E Belt Line Rd Richardson, TX 75081

OFFERING SUMMARY Price Cap Rate Net Operating Income Price PSF Occupancy Year Built

$11,700,000 7.25% $848,585 $233.67 83.1% 1979

Gross Leasable Area

50,070 SF

Lot Size

4.59 Acres

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

PRICING & FINANCIAL ANALYSIS

R IC H LAND V ILLAG E

PROJECTED INCOME & EXPENSES Base Rent - Occupied Space

CURRENT 83.1%

GROSS POTENTIAL RENT

PSF

$888,207

$17.74

$888,207

$17.74

Expense Reimbursements

EXPENSES

CURRENT

PSF

Real Estate Taxes

$150,896

$3.01

Insurance

$20,637

$0.41

CAM

CAM Recoveries

$48,345

$0.97

Electric

$10,200

$0.20

Management Fee Recoveries

$30,706

$0.61

Water & Sewer

$6,000

$0.12

$17,147

$0.34

Trash Removal

$800

$0.02

$125,379

$2.50

Landscaping

$13,900

$0.28

$221,578

$4.43

Pest Control

$400

$0.01

$7,050

$0.14

Porter

$7,800

$0.16

$1,116,835

$22.31

Security

$8,972

$0.18

Fees

$480

$0.01

$59,638

$1.19

Electrical Repairs

$500

$0.01

$37,079

$0.74

Site Lighting

$3,375

$0.07

$20,637

$0.41

Parking Lot/Drives/Walkways

$4,985

$0.10

$150,896

$3.01

Building Exterior

$1,000

$0.02

Total Recoverable Expenses

$268,250

$5.36

Roof Repairs

$500

$0.01

Net Operating Income

$848,585

$16.95

Sign Repairs

$250

$0.00

Supplies

$200

$0.00

Misc Exp

$276

$0.01

$59,638

$1.19

$37,079

$0.74

$268,250

$5.36

Insurance Recoveries Real Estate Tax Recoveries Total Expense Reimbursements Sign Income EFFECTIVE GROSS REVENUE Operating Expenses Total CAM Management Fee Total Insurance Total Real Estate Taxes

Capitalization Rate Capital Reserves at $0.15 PSF Cash Flow before Debt Service Market Loan Cash Flow after Debt Service Cash-on-Cash Return

3.00%

7.25% $7,511 $841,075 $565,273 $275,801

Total CAM Management Fee Total Expenses

3.00%

9.69%

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

RE NT RO L L

Tenant

R IC H LAND V ILLAG E

Suite

SQ FT

% of SQFT

Lease Dates

Minimum Rent

Recoveries

Total

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

Gatti's Pizza

1312

5,033

10.05%

07/16

07/26

$90,594

$7,550

$18.00

$26,964

$5.36

$117,558

10.59%

Available

1320

2,467

4.93%

$0.00

0.00%

Mr McCutter

1324

1,400

2.80%

10/79

12/22

$25,200

$2,100

$18.00

$7,500

$5.36

$32,701

2.95%

Titlemax of Texas

1328

2,100

4.19%

11/12

09/22

$51,282

$4,274

$24.42

$11,251

$5.36

$62,533

5.63%

Available

1332

2,000

3.99%

$0.00

0.00%

Pho Pasteur

1342

4,594

9.18%

07/03

06/21

$91,880

$7,657

$20.00

$24,612

$5.36

$116,492

10.50%

Quiggly's Clayhouse

1344

3,075

6.14%

10/05

09/19

$45,137

$3,761

$14.68

$16,474

$5.36

$61,612

5.55%

PPG Paints

1348

4,386

8.76%

10/17

10/22

$66,887

$5,574

$15.25

$23,454

$5.35

$90,341

8.14%

Foot Spa

1352

1,680

3.36%

04/12

09/22

$31,080

$2,590

$18.50

$9,001

$5.36

$40,081

3.61%

Available

1356

4,000

7.99%

$0.00

0.00%

Sprint

1362

1,927

3.85%

04/11

04/19

$35,649

$2,971

$18.50

$10,324

$5.36

$45,973

4.14%

Sally Beauty Supply

1366

1,747

3.49%

08/81

09/22

$39,308

$3,276

$22.50

$9,360

$5.36

$48,667

4.39%

Thai Smile Restaurant

1370

1,600

3.20%

01/15

12/19

$33,930

$2,828

$21.21

$8,572

$5.36

$42,502

3.83%

Supercuts

1374

1,600

3.20%

05/90

07/18

$33,600

$2,800

$21.00

$8,572

$5.36

$42,172

3.80%

Flossmore Dental, PA

1382

1,634

3.26%

12/13

03/24

$40,033

$3,336

$24.50

$8,754

$5.36

$48,787

4.40%

Pearle Vision

1384

2,592

5.18%

01/07

12/21

$55,987

$4,666

$21.60

$13,887

$5.36

$69,874

6.30%

Sharetea

1386

1,535

3.07%

09/17

03/23

$36,840

$3,070

$24.00

$8,224

$5.36

$45,064

4.06%

Firehouse Subs

1390

1,700

3.40%

08/16

08/26

$40,800

$3,400

$24.00

$9,108

$5.36

$49,908

4.50%

Mattress Firm

1396

5,000

9.99%

04/10

04/20

$170,000

$14,167

$34.00

$25,521

$5.10

$195,521

17.62%

Total Count/GLA

50,070

100%

$888,207

$74,017

$1,109,785

100.00%

Occupied

41,603

83.1%

Available

8,467

16.9%

Total Avg Rent

$20.47

41,603

100.0%

$221,578

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

ESTIMATED REIMBURSEMENT REVENUE

Tenant

Suite

SQ FT

R IC H LAND V ILLAG E

% of SQFT

CAM

Management Fee

Insurance

Real Estate Taxes

Total Recovery

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Gatti's Pizza

1312

5,033

10.05%

$500

$1.19

$311

$0.74

$173

$0.41

$1,264

$3.01

$2,247

$5.36

Available

1320

2,467

4.93%

$0.00

Mr McCutter

1324

1,400

2.80%

$139

$1.19

$86

$0.74

$48

$0.41

$352

$3.01

$625

$5.36

Titlemax of Texas

1328

2,100

4.19%

$208

$1.19

$130

$0.74

$72

$0.41

$527

$3.01

$938

$5.36

Available

1332

2,000

3.99%

$0.00

Pho Pasteur

1342

4,594

9.18%

$456

$1.19

$284

$0.74

$158

$0.41

$1,154

$3.01

$2,051

$5.36

Quiggly's Clayhouse

1344

3,075

6.14%

$305

$1.19

$190

$0.74

$106

$0.41

$772

$3.01

$1,373

$5.36

PPG Paints

1348

4,386

8.76%

$432

$1.18

$271

$0.74

$151

$0.41

$1,102

$3.01

$1,955

$5.35

Foot Spa

1352

1,680

3.36%

$167

$1.19

$104

$0.74

$58

$0.41

$422

$3.01

$750

$5.36

Available

1356

4,000

7.99%

$0.00

Sprint

1362

1,927

3.85%

$191

$1.19

$119

$0.74

$66

$0.41

$484

$3.01

$860

$5.36

Sally Beauty Supply

1366

1,747

3.49%

$173

$1.19

$108

$0.74

$60

$0.41

$439

$3.01

$780

$5.36

Thai Smile Restaurant

1370

1,600

3.20%

$159

$1.19

$99

$0.74

$55

$0.41

$402

$3.01

$714

$5.36

Supercuts

1374

1,600

3.20%

$159

$1.19

$99

$0.74

$55

$0.41

$402

$3.01

$714

$5.36

Flossmore Dental, PA

1382

1,634

3.26%

$162

$1.19

$101

$0.74

$56

$0.41

$410

$3.01

$730

$5.36

Pearle Vision

1384

2,592

5.18%

$257

$1.19

$160

$0.74

$89

$0.41

$651

$3.01

$1,157

$5.36

Sharetea

1386

1,535

3.07%

$152

$1.19

$95

$0.74

$53

$0.41

$386

$3.01

$685

$5.36

Firehouse Subs

1390

1,700

3.40%

$169

$1.19

$105

$0.74

$58

$0.41

$427

$3.01

$759

$5.36

Mattress Firm

1396

5,000

9.99%

$399

$0.96

$300

$0.72

$172

$0.41

$1,256

$3.01

$2,127

$5.10

50,070

100%

$4,029

TOTALS

$2,559

$1,429

$10,448

$18,465

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

LEASE PROVISIONS

Tenant

Suite

R IC H LAND V ILLAG E

SQ FT

Base Rental Increases

Renewal Options

Date

PSF

Options

Date

PSF

User Restrictions & Exclusive Rights

Termination Rights

Sales Reporting

Gatti's Pizza

1312

5,033

8/1/2021

$19.80

2x5

8/1/2026 8/1/2031

$21.78 $23.96

Yes

Available

1320

2,467

Mr McCutter

1324

1,400

1/1/2019 1/1/2021

$18.50 $19.00

Yes

Titlemax of Texas

1328

2,100

1x5

10/1/2022

Market

Exclusive right to operate a car title loan business

Available

1332

2,000

Pho Pasteur

1342

4,594

7/1/2018 7/1/2020

$20.00 $21.14

1x6

7/1/2021

Market

Exclusive right to operate a Vietnamese or Pho restaurant

Yes

Quiggly's Clayhouse

1344

3,075

10/1/2018

$14.68

1x5

10/1/2019

Market not to exceed 1.25% increase

PPG Paints

1348

4,386

11/1/2018 11/1/2019 11/1/2020

$15.25 $15.75 $16.25

2x5

11/1/2022 11/1/2027

$17.87 $20.25

Exclusive right to operate a paint store

Foot Spa

1352

1,680

1x5

10/1/2022

Market

Yes

Available

1356

4,000

Sprint

1362

1,927

1x3

5/1/2019

$20.00

Sally Beauty Supply

1366

1,747

Yes

Thai Smile Restaurant

1370

1,600

1/1/2019

$22.71

1x5

1/1/2020

Market

Yes

Supercuts

1374

1,600

Flossmore Dental, PA

1382

1,634

4/1/2019

$27.44

2x5

4/1/2024 4/1/2029

Market

In the event of the death of Dr. Chang, Tenant shall be entitled to terminate lease but must reimburse LL unamortized cost of buildout and commissions

Pearle Vision

1384

2,592

1/1/2022

$21.60

Yes

2x5

4/1/2023 4/1/2028

$26.40 Market

Yes

Sharetea

1386

1,535

4/1/2018

$24.00

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

L E A SE PROVIS ION S

Tenant

Suite

R IC H LAND V ILLAG E

SQ FT

Base Rental Increases

Renewal Options

Date

PSF

Options

Date

PSF

User Restrictions & Exclusive Rights

Termination Rights

Sales Reporting

Firehouse Subs

1390

1,700

9/1/2018 9/1/2019 9/1/2020 9/1/2021 9/1/2022 9/1/2023 9/1/2024 9/1/2025

$24.00 $24.50 $25.00 $25.50 $26.00 $26.50 $27.00 $27.50

2x5

9/1/2026 9/1/2031

$30.25 $33.28

Exclusive right to operate a deli or sub sandwich restaurant

Mattress Firm

1396

5,000

Tenant is restricted to this location within 2 miles

Yes

TOTAL

50,070

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

TE NA NT INF ORMAT I ON

R IC H LAND V ILLAG E

DBA

Gatti’s Pizza

Entity on Lease

Gatti’s Great Pizza, Inc.

Corporate/Franchise

Corporate

Locations

140+

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Gatti’s Pizza (formerly known as Mr. Gatti’s) is a Southeastern United States pizza-buffet chain. It was founded in 1964 and is owned by Blue Sage capital, a private equity firm. The chain currently has over 140 locations, although some are branded under the GattiTown name. The GattiTown locations are based on the Family Entertainment Concept (FEC) with a larger physical footprint and a dedicated gaming and attraction based midway.

DBA

TitleMax

Entity on Lease

TitleMax of Texas, Inc.

Corporate/Franchise

Corporate

Locations

1,150+

Credit Rating

S&P: B-

Public/Private

Private

Line of Business

TitleMax, Inc. is a privately owned title lending business with corporate offices in Dallas, Texas and Savannah, Georgia. The company has more than 1,100 stores in sixteen states. TitleMax offers title loan and title pawn products which allows customers to meet their liquidity needs by borrowing against the value of their vehicles.

DBA

PPG Paints

Entity on Lease

PPG Architectural Finishes, Inc.

Corporate/Franchise

Corporate

Locations

3,000+

Credit Rating

S&P: A-

Public/Private

NYSE: PPG

Line of Business

PPG Industries, Inc. is an American Fortune 500 company and global supplier of paints, coatings, and specialty materials. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 70 countries around the globe.

PROPERTY DESCRIPTION

TE NA NT INF ORMAT I ON

R IC H LAND V ILLAG E

DBA

Sprint

Entity on Lease

Next Star Communications of Texas, Inc.

Corporate/Franchise

Franchise

Locations

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Founded by Robert Moeck in 2000, Next Star Communications started with one location in Snellville, Georgia. They have successfully adapted to the fast-changing industry of wireless communications with success due, in part, to knowledgeable employees who listen to the unique needs of the customers.

DBA

Sally Beauty Supply

Entity on Lease

Sally Beauty Supply, LLC

Corporate/Franchise

Corporate

Locations

4,000+

Credit Rating

S&P: BB+

Public/Private

NYSE: SBH

Line of Business

Sally Beauty Supply is an American international specialty retailer and distributor of professional beauty supplies with revenues of more than $3.9 Billion annually. Sally Beauty Supply stores offer more than 6,000 products for hair, skin, and nails as well as an extensive selection of proprietary merchandise.

DBA

Supercuts

Entity on Lease

Supercuts Inc., a Delaware Corporation

Corporate/Franchise

Corporate

Locations

2,400+

Credit Rating

Not Rated

Public/Private

NYSE: RGS

Line of Business

Supercuts is a hair salon franchise with more than 2,400 locations across the United States. It is a wholly owned subsidiary of Regis Corporation, which also owns Regis Salons, Mia & Maxx, MasterCuts, Cost Cutters, SmartStyle, and First Choice Haircutters in the United States and Canada.

PROPERTY DESCRIPTION

TE NA NT INF ORMAT I ON

R IC H LAND V ILLAG E

DBA

Firehouse Subs

Entity on Lease

Trillis, Inc.

Corporate/Franchise

Franchise

Locations

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Firehouse Subs is a U.S.-based, fast casual restaurant chain founded in 1994 in Jacksonville, Florida by former firefighter brothers Robin and Chris Sorensen. Firehouse Subs has opened over 1,105 franchise restaurants in 44 states as well as, Puerto Rico, Canada, and Mexico. Each restaurant features a custom mural, hand-drawn to reflect fire and police service unique to each restaurantâ&#x20AC;&#x2122;s community or town.

DBA

Mattress Firm

Entity on Lease

Mattress Firm Inc., a Delaware Corporation

Corporate/Franchise

Corporate

Locations

3,500

Credit Rating

Not Rated

Public/Private

FWB, JSE: SNH

Line of Business

Founded in 1986, Houston-based Mattress Firm is the nationâ&#x20AC;&#x2122;s first and only border-toborder, coast-to-coast specialty bedding retailer. Mattress Firm offers a broad selection of mattresses and bedding accessories from leading manufacturers and brand names, including Serta, Simmons, Dream Bed, tulo and Hampton & Rhodes. In 2016, Mattress Firm was acquired by Steinhoff International Holdings.

PROPERTY DESCRIPTION

TE NA NT INF ORMAT I ON

R IC H LAND V ILLAG E

DBA

Pearle Vision

Entity on Lease

Dr. James D. Benning

Corporate/Franchise

Franchise

Locations

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Pearle Vision is an American chain of eye care stores with over 1,000 locations worldwide. It was founded in 1961 by Stanley Pearle, an optometrist in Savannah, Georgia, United States. Pearle Vision offers state-of-the-art technology wrapped in a level of personal attention that is second-to-none. It’s how we stay true to Dr. Pearle’s vision of genuine eye care.

DBA

ShareTea

Entity on Lease

TranSu Investment Group, LLC

Corporate/Franchise

Franchise

Locations

Credit Rating

Not Rated

Public/Private

Private

Line of Business

Established in 1992, Sharetea started off business with to-go black tea and pearl milk tea drinks in Taipei, Taiwan. Since then, Sharetea has opened many branches and franchises in 18 countries such as United States, Canada, UK, Australia, Singapore, Indonesia and over 450 stores. Sharetea’s drinks are made from high quality tea leaves and selected ingredients shipped directly from Taiwan.

PROPERTY DESCRIPTION

I N VE S TMENT HI GHLI GHT S •

Long Term Tenancy: The Richland Village tenant base has demonstrated outstanding longevity as 67% of the current tenant lineup has been at the Property for more than 5 years. Furthermore, more than 32% have been at this location for over 10 years.

•

National Tenancy: Richland Village’s tenant lineup is comprised of a strong mix of nationally recognized retailers representing 62.5% of the current revenue including Mattress Firm, Pearle Vision, Sharetea, Firehouse Subs, Supercuts, Sally Beauty Supply, Sprint, PPG Paints, Titlemax, and Gatti’s Pizza.

•

Area Traffic Generators: The Property has an ideal position shadow to Staples and Burlington Coat Factory. Other retailers benefiting the Property include, SuperTarget, Ross, Lowe’s, Sears, Chick-Fil-A, Petco, Raising Cane’s, McDonald’s, Aldi, LA Fitness, and many more.

•

Built-In Upside: 37% of the current in-line tenants have contractual rental escalations structured in their leases virtually guaranteeing future income growth over the next several years. By the end of 2018 the Property is scheduled to produce $15,290 of additional income. This translates to $210,900 in additional value from ‘in-place’ rent escalations.

•

Access & Traffic Counts: Positioned on E Belt Line Rd, the Property has ample access with direct entry points to the property from both E Belt Line Rd and Plano Rd, as well as convenient cross-access with Staples. Furthermore, the Property benefits from 45,300 vehicles daily on Plano Rd and 37,300 cars along E Belt Line Road. This equates to 82,600 cars per day at the intersection.

•

High Growth & Population Densities: There are 151,846 residents within a three-mile radius of the Property increasing to 371,747 residents within five miles. Over the last five years this portion of Dallas has seen 8.91% growth within five miles of the Property and is expected to see an additional 6.32% growth over the next five years. Furthermore, the population base has an average annual income of $86,686 within one mile of the Property.

R IC H LAND V ILLAG E

PROPERTY DESCRIPTION

S I T E PL A N

R IC H LAND V ILLAG E

NOT A PART

5,033 SF

Plano Road

AVAILABLE 2,467 SF MR. McCUTTER 1,400 SF 2,100 SF AVAILABLE 2,000 SF PHO PASTEUR 4,594 SF

5,000 SF

1,700 SF

SHARETEA 1,535 SF

2,592 SF

1,600 SF

FLOSSMORE DENTAL 1,634 SF

1,747 SF

THAI ASIAN FUSION 1,600 SF

1,927 SF

AVAILABLE 4,000 SF

FOOT S 1,680 PA SF

4,3

0 3,

PROPERTY DESCRIPTION

A E R I AL MA P

Mark Twain Elementary

N PLANO RD

R IC H LAND V ILLAG E

E BELT LINE RD

37,300 VPD

RICHARDSON SQUARE

45,300 VPD

Jess Harben Elementary School

PROPERTY DESCRIPTION

380

DECATUR

LO C AL MA P

MCKINNEY R IC H LAND V ILLAG E

35W

287

ALLEN 121

35E

199

FLOWER MOUND

PLANO RICHARDSON

287

CARROLLTON

KELLER 377

GARLAND

GRAPEVINE 635

121 820

ARLINGTON

MESQUITE 175

BENBROOK 35W 377

MANSFIELD 287

174 171

DALLAS

820

FORT WORTH

ROCKWAL

IRVING

HERFORD

380

DENTON

LANCASTER 35E

PROPERTY DESCRIPTION

M A R KET S U MMARY

R IC H LAND V ILLAG E

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

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

D E M OG RA PHIC STAT I ST I CS

R IC H LAND V ILLAG E

1 MILE

3 MILE

5 MILE

14,397 13,763 13,528 4.61% 1.74% 3,159

160,363 152,208 141,871 5.36% 7.29% 46,221

373,476 350,969 321,447 6.41% 9.18% 106,676

9,014 1,787 117 2,496 12 336 0

92,840 29,423 1,465 24,839 119 3,524 0

236,592 59,371 3,519 43,594 297 7,597 39

5,080 4,862 4,815 4.48% 0.98% 3,630 1,233 $86,513 $86,513

59,732 56,672 52,750 5.40% 7.44% 28,663 28,663 $67,746 $51,229

140,561 132,144 121,517 6.37% 8.75% 68,084 64,060 $64,060 $55,552

639 1,057 901 653 471 473 481 187

12,358 15,387 10,804 7,317 4,180 2,260 2,613 1,754

27,925 32,230 23,471 15,716 10,517 5,910 8,514 7,862

Population: 2022 Projection 2017 Estimate 2010 Census Growth 2017-2022 Growth 2010-2017 2017 Population Hispanic Origin

2017 Population by Race:

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

Households:

2022 Projection 2017 Estimate 2010 Census Growth 2017 - 2022 Growth 2010 - 2017 Owner Occupied Renter Occupied 2017 Avg Household Income 2017 Med Household Income

2017 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+

PROPERTY DESCRIPTION

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