THE CROSSING
at
CAMP BOWIE
FORT WORTH, TX
PRICING & FINANCIAL ANALYSIS
T H E C R O SSING AT C AM P B OWIE
The Crossing at Camp Bowie 5722 Locke Ave Fort Worth, TX 76107
OFFERING SUMMARY Price Cap Rate
$4,570,000 7.00%
Net Operating Income
$319,846
Price PSF
$206.05
Occupancy Year Built
92.6% 1977
Gross Leasable Area
22,179 SF
Lot Size
1.15 Acres
F I N A N C I A L A N A LY S I S
2
PRICING & FINANCIAL ANALYSIS
T H E C R O SSING AT C AM P B OWIE
PROJECTED INCOME & EXPENSES Base Rent - Occupied Space
CURRENT 100%
GROSS POTENTIAL RENT
PSF
EXPENSES
$56,972
$2.57
$14.91
Real Estate Taxes
$330,682
$14.91
Insurance
$8,872
$0.40
Total CAM
$61,037
$2.75
$18,614
$0.84
$145,494
$6.56
CAM Recoveries
$56,491
$2.55
Management Fee
Management Fee Recoveries
$17,227
$0.78
Total Expenses
$8,211
$0.37
Real Estate Tax Recoveries
$52,728
$2.38
Total Expense Reimbursements
$134,657
$6.07
$465,340
$20.98
EFFECTIVE GROSS REVENUE
PSF
$330,682
Expense Reimbursements
Insurance Recoveries
CURRENT
4.00%
Operating Expenses Total CAM
$61,037
$2.75
$18,614
$0.84
$8,872
$0.40
$56,972
$2.57
Total Recoverable Expenses
$145,494
$6.56
Net Operating Income
$319,846
$14.42
Management Fee Total Insurance Total Real Estate Taxes
Capitalization Rate
4.00%
7.00%
F I N A N C I A L A N A LY S I S
3
RE NT RO L L
Tenant
T H E C R O SSING AT C AM P B OWIE
Suite
SQ FT
% of SQFT
Lease Dates
Minimum Rent
Recoveries
Total
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
% of Revenue
Studio A Hair Salon
5730
714
3.22%
04/19
03/24
$12,138
$1,012
$17.00
$4,684
$6.56
$16,822
3.61%
Budget Blinds
5726
1,652
7.45%
08/17
08/20
$26,400
$2,200
$15.98
$10,837
$6.56
$37,237
8.00%
Tres Mariposa's
5724
2,352
10.60%
08/12
06/19
$28,224
$2,352
$12.00
$15,429
$6.56
$43,653
9.38%
Nikki Green, DDS
5722
1,176
5.30%
01/14
12/19
$15,876
$1,323
$13.50
$7,715
$6.56
$23,591
5.07%
Nikki Green, DDS
5720
3,551
16.01%
11/12
11/22
$48,826
$4,069
$13.75
$23,295
$6.56
$72,121
15.50%
Rocco's Pizza
5716
1,126
5.08%
07/05
06/20
$16,224
$1,352
$14.41
$7,387
$6.56
$23,611
5.07%
Rocco's Pizza (Expansion)
5714
2,353
10.61%
02/18
01/24
$36,354
$3,029
$15.45
$15,436
$6.56
$51,790
11.13%
Szechuan
5712
3,420
15.42%
03/03
02/23
$54,720
$4,560
$16.00
$22,435
$6.56
$77,155
16.58%
M2G Ventures
5710
2,531
11.41%
03/18
02/20
$50,620
$4,218
$20.00
$16,603
$6.56
$67,223
14.45%
Jon Smith Subs
2812A
1,652
7.45%
04/18
04/28
$41,300
$3,442
$25.00
$10,837
$6.56
$52,137
11.20%
Available
2812B
1,652
7.45%
-
-
$0
$0
$0.00
$0
$0.00
$0
0.00%
Total Count/GLA
11
22,179
100%
$330,682
$27,557
$465,339
100.00%
Occupied
10
20,527
92.6%
Available
1
1,652
7.4%
$16.11
20,527
100.0%
Total Avg Rent
$134,657
F I N A N C I A L A N A LY S I S
4
ESTIMATED REIMBURSEMENT REVENUE Tenant
Suite
SQ FT
T H E C R O SSING AT C AM P B OWIE
% of SQFT
CAM
Management Fee
Insurance
Real Estate Taxes
Total Recovery
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Studio A Hair Salon
5730
714
3.22%
$164
$2.75
$50
$0.84
$24
$0.40
$153
$2.57
$390
$6.56
Budget Blinds
5726
1,652
7.45%
$379
$2.75
$116
$0.84
$55
$0.40
$354
$2.57
$903
$6.56
Tres Mariposa's
5724
2,352
10.60%
$539
$2.75
$164
$0.84
$78
$0.40
$503
$2.57
$1,286
$6.56
Nikki Green, DDS
5722
1,176
5.30%
$270
$2.75
$82
$0.84
$39
$0.40
$252
$2.57
$643
$6.56
Nikki Green, DDS
5720
3,551
16.01%
$814
$2.75
$248
$0.84
$118
$0.40
$760
$2.57
$1,941
$6.56
Rocco's Pizza
5716
1,126
5.08%
$258
$2.75
$79
$0.84
$38
$0.40
$241
$2.57
$616
$6.56
Rocco's Pizza (Expansion)
5714
2,353
10.61%
$540
$2.75
$165
$0.84
$78
$0.40
$504
$2.57
$1,286
$6.56
Szechuan
5712
3,420
15.42%
$784
$2.75
$239
$0.84
$114
$0.40
$732
$2.57
$1,870
$6.56
M2G Ventures
5710
2,531
11.41%
$580
$2.75
$177
$0.84
$84
$0.40
$542
$2.57
$1,384
$6.56
Jon Smith Subs
2812A
1,652
7.45%
$379
$2.75
$116
$0.84
$55
$0.40
$354
$2.57
$903
$6.56
Available
2812B
1,652
7.45%
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
$0
$0.00
22,179
100%
$4,708
TOTALS
$1,436
$684
$4,394
$11,221
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
T H E C R O SSING AT C AM P B OWIE
Suite
Base Rental Increases
SQ FT
User Restrictions & Exclusive Rights
Renewal Options
Date
PSF
Options
Date
PSF
Studio A Hair Salon
5730
714
4/1/2020 4/1/2021 4/1/2022 4/1/2023
$17.34 $17.69 $18.04 $18.40
2x3
4/1/2024 4/1/2027
FMV FMV
-
Budget Blinds
5726
1,652
8/1/2019
$17.00
-
-
-
Exclusive use as a retail location selling window coverings (blinds, shades and shutters), drapes and bedding.
Tres Mariposa's
5724
2,352
-
-
-
-
-
-
Nikki Green, DDS
5722
1,176
-
-
1x3
1/1/2020
$14.85
-
Nikki Green, DDS
5720
3,551
12/1/2019
$15.13
1x5
11/15/2022
$16.64
-
Rocco's Pizza
5716
1,126
7/1/2020
$15.61
1x5
7/1/2020
$15.61
-
Rocco's Pizza (Expansion)
5714
2,353
2/1/2019 2/1/2020 2/1/2021 2/1/2022 2/1/2023
$15.45 $15.91 $16.39 $16.88 $17.39
-
-
-
In the event Tenant does not extend this lease passed the Primary Term and has a lease still on the adjacent Premises at 5716 Locke, Tenant shall he required to install a demising wall to separate two such spaces prior to surrendering the Premises.
Szechuan
5712
3,420
-
-
-
-
-
-
M2G Ventures
5710
2,531
-
-
-
-
-
-
Jon Smith Subs
2812A
1,652
4/16/2023 4/16/2024 4/16/2025 4/16/2026 4/16/2027
$25.50 $26.06 $26.53 $27.06 $27.60
2x5
4/16/2028 4/16/2029 4/16/2030 4/16/2031 4/16/2032 4/16/2033 4/16/2034 4/16/2035 4/16/2036 4/16/2037
$28.15 $28.72 $29.29 $29.88 $30.47 $31.08 $31.71 $32.34 $32.99 $33.65
Landlord will not lease space to any other sub sandwich restaurant only within ½ mile, subject only on property Landlord owns.
Available
2812B
1,652
-
-
-
-
-
-
TOTAL
22,179
F I N A N C I A L A N A LY S I S
6
TE NA NT INF ORMAT I ON
T H E C R O SSING AT C AM P B OWIE
DBA
Budget Blinds of Fort Worth
Entity on Lease
Canton Associates, Inc.
Corporate/Franchise
Franchise
Locations
175+ Locations
Public/Private
Private
Website
budgetblinds.com
Line of Business
Budget Blinds is a custom window coverings business that offers convenient shop-at-home service for window coverings and home décor accessories. The company is touts itself as America’s top window coverings franchise and has over 1,000 consultants throughout North America. Each franchise is an independently owned and operated business.
DBA
John Smith Subs
Entity on Lease
Red Tail Mgmt., Inc.
Corporate/Franchise
Franchise
Locations
33 Locations Worldwide
Public/Private
Private
Website
jonsmithsubs.com
Line of Business
Jon Smith Subs first opened in 1988 in Palm Beach County, FL with the single-minded commitment to serve the absolute highest quality overstuffed, marinated grilled sirloin steak and real chicken breast subs. Jon Smith Subs prepares everything in each store every day. Our sirloin steak and chicken breast are trimmed, sliced, seasoned, marinated and grilled to order.
DBA
Irma’s Catering and Team, LLC
Entity on Lease
Tres Mariposa’s Latin Kitchen
Corporate/Franchise
Corporate
Locations
1
Public/Private
Private
Website
mariposaslatinkitchen.com
Line of Business
Tres Mariposa’s Latin Kitchen was founded in 2012 and employs a quick-serve restaurant concept. Born out of Irma’s Catering, Tres Mariposa’s offers a limited variety of items for breakfast, lunch and dinner.
PROPERTY DESCRIPTION
7
I N VE S TMENT HI GHLI GHT S
T H E C R O SSING AT C AM P B OWIE
• Infill Location: The Property is located along the Camp Bowie corridor, one of the busiest retail sectors of Fort Worth. • Excellent Purchasing Power: The Property benefits from its close proximity to well established, high-end residential communities such as: Westover Hills, River Crest, Ridglea North, Ridglea Hills, Arlington Heights and River Park - all within a 1-mile radius. • Exceptional Demographics: Average household incomes in the area are an impressive $82,978 and $73,462 within a three and five-mile radius, respectively. • Built-In Upside: 33.8% of the current tenants have contractual rental escalations structured into their leases, virtually guaranteeing future income growth over the next several years. • ‘Consumer Experience’ Tenant Base: The Property is virtually immune to the forces of the internet as the vast majority of the tenants cater to an ‘in-person’ shopping or dining experience, including restaurants and a dental office. • Outstanding Tenant Longevity: 47% of the tenants have occupied the center for 5+ years. • Below Market Rents: The average rent in the property is only $16.11 with some rents at $12 & $13 psf. This, in addition to the scheduled rent increases points to considerable upside. PROPERTY DESCRIPTION
8
S I T E PL A N
5712
2812B
5710
5714
5716
5720
5724
5726
5730
T H E C R O SSING AT C AM P B OWIE
SUITE
TENANT
GLA
5730
Studio A Hair Salon
714
5726
Budget Blinds
1,652
5724
Tres Mariposa's
2,352
5722
Nikki Green, DDS
1,176
5720
Nikki Green, DDS
3,551
5716
Rocco's Pizza
1,126
5714
Rocco's Pizza (Expansion)
2,353
5712
Szechuan
3,420
5710
M2G Ventures
2,531
2812A
Jon Smith Subs
1,652
2812B
Available
1,652
2812A
PROPERTY DESCRIPTION
9
A E R I AL MA P
T H E C R O SSING AT C AM P B OWIE
BURTON HILL ELEMENTARY SCHOOL
RIDGMAR MALL
BOULEVARD HEIGHTS SCHOOL
101,890 VPD
ALINGTON HEIGHTS HIGH SCHOOL
MARY LOUISE PHILLIPS ELEMENTARY SCHOOL WILLIAM MONNIG MIDDLE SCHOOL MONNIG JUNIOR HIGH SCHOOL
C
P AM
W BO
IE
VD BL
0V 82 31,
PD
PROPERTY DESCRIPTION
10
L E A SE COMPA RABLES
Property
T H E C R O SSING AT C AM P B OWIE
GLA
Yr Built/ Renovated Occupancy
Major Tenants
Available SF
Rental Rates
NNN
Szechaun, Nikki Green, DDS, Jon Smith Subs
1,652
$12.00-$25.00
$6.56
The Crossing at Camp Bowie ï‚« 5722 Locke Ave. Fort Worth, TX, 76107
22,179
2000
92.6%
Lovell Center 1 5800 Camp Bowie Blvd. Fort Worth, TX 76107
25,000
2002
100.0%
Mama's Pizza, Origin Bank, 7th St. Gold and Silver
0
$16.00-$25.00
$5.75
65,583
2011
71.6%
La Madeline, Rusty Taco, Pet Supermarket, Campisis, Haltom's Jewelry
18,637
$17.00-$26.50
$5.90
16,269
2011
100.0%
Chipotle, Jimmy John's, Pie Five, Sumits Yoga, AT&T
0
$29.00-$36.25
$17.00
35,014
$13.00-$30.00
$6.25
0
$27.00-$44.00
$17.00
Ridglea Village 6100 Camp Bowie Blvd. 2 Fort Worth, TX 76116 Shops at Camp Bowie 6370 Camp Bowie Blvd. 3 Fort Worth, TX 76116 Village at Camp Bowie 6333 Camp Bowie Blvd. 4 Fort Worth, 76116
West 7th Retail 5 2501 W 7th St. Fort Worth, TX 76107
279,505
2000
87.5%
Sprint, Starbucks, Snappy Salad, Capital Title of Texas, Edward Jones, Tuesday Morning, Keller Williams
24,376
2017
100.0%
Natural Grocer, MedSpring, Aria Nail Bar
PROPERTY DESCRIPTION
11
L E A SE COMPA RABLES
T H E C R O SSING AT C AM P B OWIE
The Crossings at Camp Bowie 1
Lovell Center
2
Ridglea Village
3
Shops at Camp Bowie
4
Village at Camp Bowie
5
West 7th Retail
5
1 3
2
4
PROPERTY DESCRIPTION
12
LO C AL MA P
T H E C R O SSING AT C AM P B OWIE
The Crossing at Camp Bowie
PROPERTY DESCRIPTION
13
REG IONA L MA P
T H E C R O SSING AT C AM P B OWIE
The Crossing at Camp Bowie
PROPERTY DESCRIPTION
14
M A R KET S U MMARY
T H E C R O SSING AT C AM P B OWIE
Fort Worth, TX
Q U I C K S TAT S
OVERVIEW Called the “City of Cowboys & Culture,” Fort Worth draws visitors from around the globe. It is the 15th-largest city in the United States and the fifth-largest city in the state of Texas. The city was established in 1849 as an army outpost on a bluff overlooking the Trinity River. Today, Fort Worth still embraces its Western heritage and traditional architecture and design. However, the city is progressive and has a burgeoning economy and growing population. DFW is the fourth largest-metropolitan area in the United States. While Fort Worth has a rich history, it is thoroughly modern, and quality of life figures prominently in its look and feel. High interest in shopping venues and culinary offerings amid the cityscape attests that Fort Worth values both work and play. There is a unique accessibility found only in Fort Worth, where world-class art lives comfortably among stilettos and cowboy boots in one of the most fully integrated city centers in the world.
As one of America’s “Most Livable Cities,” Fort Worth offers world-class arts and architecture, unparalleled cuisine, upscale shopping, five entertainment districts and endless outdoor activities. We have named this vibrant area “Left Bank,” a nod to Paris’ own famed “La Rive Gauche”, which is a historic example of the vitality and synergy created when dining, shopping, nightlife and a cultural arts district all come together. Located less than 5 miles from downtown Fort Worth, the 325 acre campus of Texas Christian University enrolls over 11,000 students. Fort Worth is also home to the Fort Worth Stockyards, which is a National Historic District. The Stockyards was once among the largest livestock markets in the United States and played a vital role in the city’s early growth. Today the neighborhood is characterized by its many bars, restaurants, and notable country music venues such as Billy Bob’s.
1st
In Population Growth for Large Cities
4
Best Large Cities in U.S. for Jobs (NewGeography.com, 2013)
th
15th
Largest City in the U.S.
6.5M
Visitors Annually and they contribute over $900 million to the Fort Worth economy
PROPERTY DESCRIPTION
15
D E M OG RA PHIC STAT I ST I CS
T H E C R O SSING AT C AM P B OWIE
1 MILE
3 MILE
5 MILE
13,597 12,527 10,574 8.54% 18.47% 3,027
98,589 91,388 79,315 7.88% 15.22% 23,882
281,249 261,228 232,076 7.66% 12.56% 97,200
8,696 3,223 89 260 8 251 0
75,837 10,706 725 2,226 74 1,820 239
220,311 26,235 2,571 6,557 262 5,292 660
6,369 5,883 5,037 8.26% 16.80% 2,887 2,996 $77,687 $46,103
43,053 39,886 34,893 7.94% 14.31% 19,405 20,482 $86,554 $56,472
112,654 104,593 92,843 7.71% 12.66% 50,316 54,277 $76,311 $52,231
1,760 1,466 706 534 378 210 300 529
8,476 9,307 6,964 4,622 2,834 1,821 1,698 4,164
23,942 26,246 19,420 11,430 7,503 4,310 4,311 7,432
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 2018
PROPERTY DESCRIPTION
16
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
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