Westover Village Junior Anchor – Fort Worth, TX

WESTOVER VILLAGE JUNIOR ANCHOR FORT WORTH, TX

JENNIFER PIERSON | 469.844.8885 JPIERSON@STRIVERE.COM

PRICING & FINANCIAL ANALYSIS

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

Westover Village Junior Anchor 421 Sherry Lane Fort Worth, TX 76114

Offering Summary Price Cap Rate Net Operating Income Price PSF

$8,374,547 8.50% $711,837 $117.88 87.0%

Year Built

2008

Gross Leasable Area Lot Size

PROPERTY DESCRIPTION

Occupancy

71,044 SF 29.756 Acres

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

2

PRICING & FINANCIAL ANALYSIS

WESTOVER VILLAGE JUNIOR ANCHOR

Current

Base Rent - Occupied Space

100%

$784,836

PSF $11.05

Expense Reimbursements

Expenses

Current

PSF

Alarm/Fire Prot/Security

$5,070

$0.07

Roof Repairs

$0.00

$0.00

Maintenance/Repairs

$3,797

$0.05

$40,642

$0.57

CAM

$99,116

$1.40

Management Fee Recoveries

$3,047

$0.04

Insurance Recoveries

$9,783

$0.14

Parking Lot/Landscape

Real Estate Tax Recoveries

$217,993

$3.07

Lighting

$6,820

$0.10

Total Expense Reimbursements

$329,940

$4.64

Sweeping

$8,902

$0.13

$30,257

$0.43

Snow Removal

$0.00

$0.00

$1,145,032

$16.12

Trash Removal

$6,188

$0.09

$1,145,032

$16.12

Water/Sewer

$23,379

$0.33

Electric

$16,875

$0.24

$111,673

$1.57

Total CAM

$111,673

$1.57

$37,375

$0.53

Management Fee

$37,375

$0.53

$11,391

$0.16

Total Insurance

$11,391

$0.16

$251,664

$3.54

Total Real Estate Taxes

$251,664

$3.54

$412,103

$5.80

$412,103

$5.80

Creek Maintenance

$21,093

$0.30

Net Operating Income

$711,837

$10.02

OEA Reimbursement Total Gross Revenue EFFECTIVE GROSS REVENUE Operating Expenses Total CAM Management Fee Total Insurance Total Real Estate Taxes Total Recoverable Expenses

3.30%

Total Expenses

PROPERTY DESCRIPTION

CAM Recoveries (Includes Admin Fee)

Other Revenue

FINANCIAL ANALYSIS

Projected Income & Expenses

Non-Recoverable Expenses

Capitalization Rate Cash Flow before Debt Service Market Loan Cash Flow after Debt Service Cash-on-Cash Return

$10,657

MARKET OVERVIEW

Capital Reserves at $0.15 PSF

8.50% $701,180 $440,611 $260,569 12.95%

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

3

RENT ROLL

WESTOVER VILLAGE JUNIOR ANCHOR Minimum Rent

Recoveries

Total

Sq Ft

% of Sq Ft

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

Lumber Liquidators

425

7,500

10.56%

05/15

09/22

$82,500

$6,875

$11.00

$39,595

$5.28

$122,095

10.95%

Party City

435

12,240

17.23%

05/09

01/20

$156,000

$13,000

$12.75

$65,791

$5.38

$221,791

19.90%

Available

445

9,211

12.97%

-

-

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

0.00%

99 Cents Only

455

17,093

24.06%

02/14

01/25

$153,840

$12,820

$9.00

$91,190

$5.33

$245,030

21.98%

Petco

465

15,000

21.11%

07/09

01/20

$277,500

$23,125

$18.50

$79,832

$5.32

$357,332

32.05%

Half Price Books

475

10,000

14.08%

03/09

07/19

$114,996

$9,583

$11.50

$53,532

$5.35

$168,528

15.12%

Total Count/GLA

6

71,044

100%

$784,836

$65,403

$1,114,776

100%

Occupied

5

61,833

87.0%

Available

1

9,211

13.0%

61,833

100%

Total Avg Rent

$12.69

$329,940

PROPERTY DESCRIPTION

Suite

Tenant

FINANCIAL ANALYSIS

Lease Dates

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

4

ESTIMATED REIMBURSEMENT REVENUE

WESTOVER VILLAGE JUNIOR ANCHOR Management Fee

Insurance

Real Estate Taxes

Total Recovery

Suite

Sq Ft

% of Sq Ft

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Lumber Liquidators

425

7,500

10.56%

$985

$1.58

$0.00

$0.00

$100

$0.16

$2,214

$3.54

$3,300

$5.28

Party City

435

12,240

17.23%

$1,603

$1.57

$103

$0.10

$164

$0.16

$3,613

$3.54

$5,483

$5.38

Available

445

9,211

12.97%

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

99 Cents Only

455

17,093

24.06%

$2,239

$1.57

$86

$0.06

$228

$0.16

$5,046

$3.54

$7,599

$5.33

Petco

465

15,000

21.11%

$2,122

$1.70

$0.00

$0.00

$189

$0.15

$4,341

$3.47

$6,653

$5.32

Half Price Books

475

10,000

14.08%

$1,310

$1.57

$65

$0.08

$134

$0.16

$2,952

$3.54

$4,461

$5.35

71,044

100%

$8,260

Tenant

Totals

$254

$815

$18,166

FINANCIAL ANALYSIS

CAM

$27,495

PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

5

LEASE PROVISIONS

WESTOVER VILLAGE JUNIOR ANCHOR

User Restrictions & Exclusive uses

Tenant

Lumber Liquidators

Suite

425

Sq Ft

7,500

Date

-

Termination Sales Rights Reporting

-

Two, 5-yr options @ $12.10 & $13.31 psf respectively

Exclusive right to engage in the sale and installation services of tiles, hardwoods, laminate, flooring related tools, and other related flooring products

No

No

Except for Target and Dollar Tree, no other premises shall be leased for the sale of party goods and related supplies, costumes, and greeting cards

No

Yes

PSF

12,240

-

-

Available

445

9,211

-

-

-

-

-

-

99 Cents Only

455

17,093

2/1/2020

$9.50

Three, 5-yr options @ $10.00, $10.50 & $11.00 psf respectively

Exclusive right to operate a discount general merchandise store.

Yes

No

Four, 5-yr options @ 110% prior rent

Exclusive right to sell pet food, pet supplies, live animals (as pets), pet grooming, pet training and veterinary services.

No

Yes

Three, 5-yr options @ $12.75, $13.75 & $14.75 psf respectively

exclusive right to purchase and sell new and used books and magazines, records, electronic books, computer software and games, game players, and CD's and DVDs

No

At LL Request

Half Price Books

Totals

465

15,000

475

10,000

6

71,044

-

-

-

-

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

MARKET OVERVIEW

435

PROPERTY DESCRIPTION

Party City

Three, 5-yr options @ $16.67, $18.14 & $20.59 psf respectively

Petco

FINANCIAL ANALYSIS

Renewal Options

Base Rental Increases

6

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

Separately Offered Pad Site Opportunity 401 Alta Mere Dr Fort Worth, TX 76114

Offering Summary Price

$1,000,000

Lot Size

1.949 Acres

TAD Acct. #

42228130

PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

7

TENANT INFORMATION

WESTOVER VILLAGE JUNIOR ANCHOR

Entity on Lease

99 Cents Only Stores, LLC

DBA Locations

99 Cents Only Stores 392 stores in California, Texas, Arizona, & Nevada

Ownership 99 Cents Only Store is a premier deep-discount retailer primarly carrying name-brand consumable and general merchandise as well as seasonal products.

FINANCIAL ANALYSIS

Tenant Summary

Credit Rating Annual Revenue Public/ Private Website

Corporate CCC+ (S&P) $2 Billion (2016) Private www.99only.com

Entity on Lease DBA Half Price Books is the largest family-owned chain of new and used bookstores in the United States. Half Price Books is committed to the community. Half Priced Books has been supporting literacy and environmental groups for more than 40 years and will continue working together to carry on the mission and causes of their founders. Each year, Half Priced books recycles and donates more than a million books to local nonprofits and organizations around the world.

Locations

Half Price Books, Records, Magazines, Inc. Half Price Books Over 120 stores across the country

Ownership

Corporate

Credit Rating

Not Rated

Annual Revenue

Private

Public/ Private

Private

Website

PROPERTY DESCRIPTION

Tenant Summary

www.hpb.com

Tenant Summary Entity on Lease Locations With more than 50 years of service to pet parents, Petco is a leading pet specialty retailer that obsesses about delivering health and happy experiences for pets and the people who love them. Petco do this by providing the products, services, advice and experiences that keep pets physically fit, mentally alert, socially engaged and emotionally happy.

Petco Animal Suppplies Over 1,500 across the country

Ownership

Corporate

Credit Rating

Not Rated

Annual Revenue

Private

Public/ Private

Private

Website

MARKET OVERVIEW

DBA

Petco Southwest, Inc.

www.petco.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

8

TENANT INFORMATION

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

Tenant Summary Entity on Lease DBA Locations Party City is the largest, vertically integrated designer, manufacturer, supplier and retailer of consumer party products in the world. Party City offers a wide selection of party goods ranging from paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, stationery, and more.

Ownership Credit Rating Annual Revenue Public/ Private

Party City Over 900 locations in the US and Canada Corporate S&P: B+ $2.28 billion (2016) Public: PRTY (NYSE)

PROPERTY DESCRIPTION

Website

Party City Corporation

http://www.partycity.com

Tenant Summary Entity on Lease DBA Locations

Lumber Liquidators 383 locations across the country

Ownership

Corporate

Credit Rating

Not Rated

Annual Revenue Public/ Private Website

MARKET OVERVIEW

Lumber Liquidators prides itself on having one of the largest inventories of prefinished and unfinished hardwood floors in the industry. Lumber Liquidators carries solid and engineered hardwood, laminate flooring, bamboo flooring, cork flooring, vinyl flooring, wood-look tile flooring, butcher blocks, moldings, accessories and tools.

Lumber Liquidators, Inc.

$961 million (2016) Public: LL (NYSE) www.lumberliquidators.com

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

9

INVESTMENT HIGHLIGHTS

WESTOVER VILLAGE JUNIOR ANCHOR

Target: Westover Village is located adjacent to a high performing Target. This location includes Targets’ P-Fresh grocery concept, which attracts a larger consumer base.

Target is the 2nd largest discount store retailer in the US, doing nearly $70 billion in revenue in 2016.

•

Desirable Trade Area: This stretch of Alta Mere has become the primary retail corridor in the immediate trade area.

Along with Target, retailers such as Walmart, Sam’s Club, Lowe’s, Movie Tavern, Big Lots, Chick-Fil-A, Raising Canes, and Krispy Kreme, among others help to generate traffic around Westover Village.

•

National Tenancy: Westover Village’s Junior Anchor lineup is comprised of a strong mix of nationally recognized retailers representing 100% of the current revenue including 99 Cents Only, Petco, Half Price Books, Lumber Liquidators, and Party City.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

•

PROPERTY DESCRIPTION

Included Land: This retail property comes with 3 development components and additional parking, at no cost for the land.

Per the attached site plan we estimate the following retail buildings can be built: a 13,550 sf multi-tenant building, a 5,000 sf restaurant building and an additional 11,000 sf multi-tenant retail building. Our proforma leases the two multi-tenant buildings at an average of $18.00 psf and the restaurant building at $20.00 psf for additional income in total of $541,900.00 Again the owner is selling the land at no cost.

FINANCIAL ANALYSIS

•

10

INVESTMENT HIGHLIGHTS

WESTOVER VILLAGE JUNIOR ANCHOR

Westover Hills: Westover Hills is located immediately behind Westover Village. In 2014 Higley named Westover Hills the neighborhood with the 3rd highest average household income in DFW at $385,047, which is the 69th highest average household income for any neighborhood in the United States. This extraordinary neighborhood, with its rolling hills and mansions, is in part responsible for the explosion of retail along Alta Mere Drive.

•

High Growth Surrounding Area: Since 2010 the trade area surrounding Westover Village has grown by an average of 12.04% within a 3 mile radius of the Property. That same area is expected to grow an additional 7.96% over the next 5 years.

•

Naval Air Station: The Property is located adjacent to the Naval Air Station Joint Reserve Base, which employs over 11,000 people and helps generate traffic to the trade area and Westover Village.

•

Exceptional Positioning with High Traffic Counts: Westover Village is positioned along Alta Mere Drive (State Highway 183) just north of Interstate 30. Alta Mere carries nearly 35,000 vehicles per day, while Interstate 30 carries over 115,000 vehicles per day.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

MARKET OVERVIEW

•

PROPERTY DESCRIPTION

Stabilized Asset with Value-Add Opportunity: The Property is currently 87% occupied providing investors with a stable current cash flow while offering potential upside through the lease-up of the remaining 9,211 square foot junior anchor space.

FINANCIAL ANALYSIS

•

11

SITE PLAN

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

1.949 Acres Can be purchased separately (same ownership)

PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

12

PROPOSED DEVELOPMENT

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

LUMBER LIQUIDATORS

MARKET OVERVIEW

* Development Opportunity: If an investor acquires the entire Westover Village portfolio they will receive five additional parcels of land that have all the necessary infrastructure and are ready for future development. This future expansion provides a buyer with potentially Road a total 12473 of Robyn 47,550 additional square feet of building to increase their revenue stream.

St. Louis, Missouri 63127 314.722.3771 314.713.3255 cell carl@uhligarchitecture.com

Summit

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

13

AERIAL MAP

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

EE

1.949 Acres Can be purchased separately (same ownership)

NO

AK

PROPERTY DESCRIPTION

GR

SR

D

R

E

ER

M

MARKET OVERVIEW

A LT

D

A

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

14

AERIAL MAP

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

DOWNTOWN FORT WORTH

Burton Hills Homes from $200k-$550k

Westover Hills Homes from $950k-$5million Ridgmar Homes from $350k-$2.5million

PROPERTY DESCRIPTION

1.949 Acres Can be purchased separately (same ownership)

ALTA

MERE

DR

MARKET OVERVIEW

Joint Reserve Naval Base Over 11,000 Employees

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

15

AERIAL MAP

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS

ALT

AM

ERE

PROPERTY DESCRIPTION

1.949 Acres Can be purchased separately (same ownership)

DR

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

16

LOCAL MAP

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

17

REGIONAL MAP

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS PROPERTY DESCRIPTION

Next closest retail trade area to the west is 25 miles away (Weatherford)

MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

18

MARKET SUMMARY

WESTOVER VILLAGE JUNIOR ANCHOR

FINANCIAL ANALYSIS The Fort Worth Stockyards now celebrates Fort Worth’s long tradition as a part of the cattle industry and was listed on the National Register as a historical district in 1976. The listing included 46 contributing buildings and one other contributing structure.

The Stockyards consist of mainly entertainment and shopping venues that capitalize on the “Cowtown” image of Fort Worth. Home to the famous boot making company M.L. Leddy’s which is located in the heart of the Stockyards and The Maverick Fine Western Wear and Saloon where customers “can ‘belly up to the bar, relax and have a cold beer while in the Stockyards just like they did in the days of the big cattle drives”, as they shop around the store.

Many bars and nightclubs (including Billy Bob’s Texas) are located in the vicinity, there is also an opry and a rodeo.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

19

MARKET OVERVIEW

The city of Fort Worth is often referred to as “Where the West Begins.” Fort Worth is the 17th-largest city in the United States of America and the fifth-largest city in the state of Texas.

Located in North Central Texas, and covers nearly 350 square miles (910 km2) in Tarrant, Denton, Parker and Wise counties. According to the 2013 census estimates, Fort Worth had a population of 792,727. The city is also home to Texas Christian University, Texas Wesleyan University, University of North Texas Health Science Center, Texas A&M University School of Law, and many multinational corporations including Bell Helicopter, Lockheed Martin, American Airlines, American Airlines Group (and subsidiaries American Airlines and Envoy Air), the John Peter Smith Hospital, Pier 1 Imports, RadioShack, the BNSF Railway, and Lockheed Martin. In 2013, Fort Worth-Arlington ranked No. 15 on Forbes’ list of the Best Places for Business and Careers.

PROPERTY DESCRIPTION

FORT WORTH, TX

DEMOGRAPHIC STATISTICS

1 Mile

3 Mile

5 Mile

6,599 6,092 5,325 8.32% 14.40% 1,628

88,080 81,595 72,860 7.95% 11.99% 25,851

229,498 212,926 191,230 7.78% 11.35% 77,217

5,291 498 37 125 5 137 66

66,787 10,837 782 1,369 89 1,731 392

182,916 19,174 2,136 4,188 241 4,272 550

3,131 2,895 2,556 8.15% 13.26% 1,130 1,765 $87,666 $54,866

35,839 33,200 29,654 7.95% 11.96% 16,469 16,731 $66,894 $44,218

90,625 83,929 74,832 7.98% 12.16% 43,582 40,347 $75,477 $51,538

744 630 375 402 101 224 87 331

9,446 9,225 5,428 3,529 1,639 992 988 1,953

18,995 21,843 15,799 9,746 5,319 3,374 2,741 6,111

FINANCIAL ANALYSIS

Radius

WESTOVER VILLAGE JUNIOR ANCHOR

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

2017 Population by Race:

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:

MARKET OVERVIEW

<$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

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

Demographic data © CoStar 2017 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE

20

CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenantâ&#x20AC;&#x2122;s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose: ӽӽ that the owner will accept a price less than the written asking price; ӽӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

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