Cross Creek Corner I
Cross Creek Corner I FULSHEAR, TX
OFFERING MEMORANDUM
Cross Creek Corner I FULSHEAR, TX
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified 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. Marcus & Millichap 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, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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.
NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Cross Creek Corner I FULSHEAR, TX
TABLE OF CONTENTS
Section 1
PRICING AND FINANCIAL ANALYSIS
Section 2
PROPERTY DESCRIPTION
Section 3
RECENT SALES
Section 4
ON MARKET COMPARABLES
Section 5
RENT COMPARABLES
Section 6
DEMOGRAPHIC ANALYSIS
PRICING AND FINANCIAL ANALYSIS
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
OFFERING SUMMARY
Major Tenants Tenant Name First Cup Coffee Prestige Properties Orange Leaf Brick Oven Pizza
Price Gross Leasable Area (GLA) Year Built Lot Size
Request For Offer 20,226 2015 2.36 Acres
Demographics 1-Mile
VITAL DATA Net Operating Income - Current
$465,220
Net Operating Income - Pro Forma
$486,902
3-Mile
5-Mile
2014 Population
5,540
29,066
77,906
2019 Population
7,038
36,673
97,482
2014 Households
1,711
8,895
24,368
2019 Households
2,103
10,959
97,482
Median HH Income
$105,653
$109,227
$110,727
Per Capita Income
$41,559
$42,840
$43,915
Average HH Income
$134,334
$139,833
$140,308
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
1
Cross Creek Corner I FULSHEAR, TX
PRICING AND FINANCIAL ANALYSIS
FINANCING Existing Financing Loan Type
Free and Clear
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
2
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
TENANT SUMMARY Suite Tenant
100
102
104
Brick Oven Pizza
Title & Mortgage Co.
Prim & Posh Nails
GLA
% of GLA
Lease Commence
Lease Expire
Annual Rent
Rent/ SF
Changes On
Changes To
4,300
21.26%
4/1/2016
4/1/2021
$107,500.00
$25.00
4/1/2019
$116,100.00
4/1/2020
$124,700.00
4/1/2017
$72,176.00
4/1/2019
$77,728.00
4/1/2017
$36,400.00
4/1/2018
$37,800.00
4/1/2019
$39,200.00
2,776
1,400
13.72%
6.92%
3/1/2015
3/1/2015
4/1/2020
4/1/2020
$66,624.00
$35,000.00
$24.00
$25.00
Other: Options/ % Rent
Lease Type
NNN
NNN
NNN
105
Dry Cleaner
1,400
6.92%
3/1/2015
4/1/2020
$33,600.00
$24.00
4/1/2019
$36,400.00
NNN
103
Orange Leaf Yogurt
1,400
6.92%
3/1/2015
4/1/2020
$30,800.00
$22.00
4/1/2017
$33,600.00
NNN
4/1/2019
$36,400.00
106
Prestige Properties
2,650
13.10%
3/1/2015
4/1/2020
$58,300.00
$22.00
4/1/2019
$63,600.00
NNN
107-
Cammarata Pediatric Dentist
4,200
20.77%
3/1/2015
4/1/25
$100,800.00
$24.00
4/1/2017
$109,200.00
NNN
4/1/2019
$117,600.00
4/1/2021
$126,000.00
4/1/2023
$134,400.00
4/1/2017
$54,600.00
4/1/2019
$58,800.00
110
First Cup Cafe
2,100
10.38%
3/1/2015
4/1/2020
$50,400.00
$24.00
NNN
TOTAL VACANT TOTAL OCCUPIED
20,226
100.00%
$483,024.00
TOTAL
20,226
100.00%
$483,024.00
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
EXPENSES Real Estate Taxes Insurance CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee TOTAL EXPENSES
Current
Per SF
Pro Forma
Per SF
$55,622 $10,113
$2.75 $0.50
$55,622 $10,113
$2.75 $0.50
$8,090 $13,956 $2,629 $24,675 $20,024
$0.40 $0.69 $0.13 $1.22 $0.99
$8,090 $13,956 $2,629 $24,675 $20,024
$0.40 $0.69 $0.13 $1.22 $0.99
$110,434
$5.46
$110,434
$5.46
Tenants (% OF GLA)
Dry Cleaner: 6.92% Prim & Posh Nails: 6.92% First Cup Cafe: 10.38%
Orange Leaf Yogurt: 6.92% Brick Oven Pizza: 21.26%
Prestige Properties: 13.10% Title & Mortgage Co.: 13.72%
Cammarata Pediatric Dentist: 20.77%
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
4
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
INCOME & EXPENSES Gross Leasable Area (GLA)
20,226
SF
Current
Per SF
Pro Forma
Per SF
$483,024
$23.88
$505,376
$24.99
$483,024
$23.88
$505,376
$24.99
Real Estate Taxes
$55,622
$2.75
$55,622
$2.75
Insurance
$10,113
$0.50
$10,113
$0.50
CAM
$24,675
$1.22
$24,675
$1.22
Management Fee
$20,024
$0.99
$20,024
$0.99
$593,458
$29.34
$615,810
$30.45
Base Rent
Occupied Space GROSS POTENTIAL RENT Expense Reimbursements
GROSS POTENTIAL INCOME Vacancy/Collection Allowance (% of GPI)
3% / $17,804
$0.88
3% / $18,474
$0.91
EFFECTIVE GROSS INCOME
$575,654
$28.46
$597,336
$29.53
Total Expenses
$110,434
$5.46
$110,434
$5.46
NET OPERATING INCOME
$465,220
$23.00
$486,902
$24.07
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
LEASE EXPIRATION SUMMARY
For The Year Beginning
Year 1 Jan 2016
Year 2 Jan 2017
Year 3 Jan 2018
Year 4 Jan 2019
Tenant(s) Name
Total Number of Tenants
Year 5 Jan 2020
Year 6 Jan 2021
Title & Mortgage Co. Prim & Posh Nails Dry Cleaner Orange Leaf Yogurt Prestige Properties First Cup Cafe
Brick Oven Pizza
Year 7 Jan 2022
Year 8 Jan 2023
Year 9 Jan 2024
Year 10 Jan 2025 Cammarata Pediatric Dentist
6
1
1
Total Square Feet
11,726
4,300
4,200
Total Percentage
58.0%
21.3%
20.8%
Cumulative Percentage
58.0%
79.2%
100.0%
100%
6
90% 5
70% 4 60% 50%
3
40%
Number of Tenants
Total Project Square Footage
80%
2
30% 20%
1 10% 0%
0
Jan 2016 0%
Jan 2017 0%
Jan 2018 0%
Jan 2019 0%
Percentage of SF Expiring
Jan 2020 58%
Jan 2021 21%
Number of Tenants Expiring
Jan 2022 0%
Jan 2023 0%
Jan 2024 0%
Jan 2025 21%
Cumulative % of SF Expiring
Any projections, opinions, assumptions or estimates used here within are for example purposes only and do not represent the current or future performance of the property.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
6
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
FINANCIAL OVERVIEW Annualized Operating Data
Location 11525 South Fry Road
Income
Fulshear, TX 77441
Current
Pro Forma
$483,024
$505,376
Base Rent
Price Gross Leasable Area (GLA) Lot Size Year Built
Occupied Space
Request For Offer 20,226 2.36 Acres 2015
Gross Potential Rent
$483,024
$505,376
Expense Reimbursements
$110,434
$110,434
Gross Potential Income Vacancy/Collection Allowance
$593,458
$615,810
3% / $17,804
3% / $18,474
Effective Gross Income
$575,654
$597,336
Total Expenses
$110,434
$110,434
Net Operating Income
$465,220
$486,902
Expenses Real Estate Taxes
$55,622
$55,622
Insurance
$10,113
$10,113
CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee (% of EGI) TOTAL EXPENSES EXPENSES/SF
$8,090
$8,090
$13,956
$13,956
$2,629
$2,629
$24,675
$24,675
3.5% / $20,024
3.4% / $20,024
$110,434
$110,434
$5.46
$5.46
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
7
PROPERTY DESCRIPTION
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
INVESTMENT OVERVIEW Investment Highlights ■ Across from Aldi Grocery ■ High Growth Katy/Fulshear Submarket | 250 Percent Growth Since 2010 ■ NNN Leases ■ Under Market Rents | Fixed Rent Increases During Primary Term ■ Located in Katy Independent School District | Ranked Number One in Houston MSA ■ Cross Access to Hard Corner of FM 1463 and Fry Road - A Signalized Intersection
Cross Creek Corner I is a 20,226 square foot multi-tenant shopping center located in Fulshear, Texas that was completed in 2015. It is adjacent to a CVS Pharmacy, which is on the signalized corner of FM 1463 and Fry Road. The subject property is directly across the street from a brand new Aldi grocery store development. The property is located on one of the two main entrances of Cross Creek Ranch, a 3,200 acre/7,800 home master planned community developed by Johnson Development. Fulshear is a very fast growing market. The population has increased over 250 percent from 2010 to 2014 and has continued to evolve. The area has an average household income of $140,000, and will soon be home to three new grocery stores in the next 12 months (HEB, Aldi and Walmart). It is also located in Katy Independent School District, which according to recent educational rankings, is named the best school district in the Houston MSA.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
9
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
PROPERTY SUMMARY The Offering
Property Property Address
Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441
Site Description
Year Built
2015
Gross Leasable Area (GLA)
20,226 SF
Lot Size
2.36 Acres
Type of Ownership
Fee Simple
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
10
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
PROPERTY PHOTOS
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
11
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
AREA MAPS
Local Map
Regional Map
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
12
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
13
PROPERTY DESCRIPTION
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
14
PROPERTY DESCRIPTION
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
15
PROPERTY DESCRIPTION
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
16
PROPERTY DESCRIPTION
RECENT SALES
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES MAP
1) 2) 3) 4) 5) 6)
Cross Creek Corner I The Shops at Terramont The Commons at Kings Crossing Shadowbriar Shopping Center Center at Cinco Ranch Creekside at Town Center The Crossing at Telfair Commons
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
18
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
CAP RATE AND PRICE PER SF Average Cap Rate 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 The Shops at Terramont
The Commons at Kings Crossing
Shadowbriar Shopping Center
Center at Cinco Ranch
Creekside at Town Center
The Crossing at Telfair Commons
Average Price per Square Foot 500.00 450.00 400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 The Shops at Terramont
The Commons at Kings Crossing
Shadowbriar Shopping Center
Center at Cinco Ranch
Creekside at Town Center
The Crossing at Telfair Commons
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
19
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 20,226 SF Request For 2.36 Acres
Major Tenants First Cup Coffee Prestige Properties Orange Leaf Brick Oven Pizza
Subject Property
1
2
The Shops at Terramont 10110 Woodlands Parkway The Woodlands, TX 77382 Close of Escrow:
6/23/15
Major Tenants
Year Built:
2007
Family Medicine At Sterling Ridge
Gross Leasable Area (GLA):
14,561 SF
Edward Jones
Sale Price:
$4,900,000
QA Nails & Spa
Percent Down: CAP Rate:
100% 7.18%
Caffe Di Fiore Donut Express
Price/SF (GLA): Lot Size:
$336.52 85,098 SF
Bradshaw Periodontics Terramont Orthodontics
The Commons at Kings Crossing 2714 West Lake Houston Parkway Kingwood, TX 77339 Close of Escrow:
10/22/15
Major Tenants
Year Built:
1996
Little Gym on Kingwood
Gross Leasable Area (GLA):
22,147 SF
Northeast Family Medicine
Sale Price:
$5,300,000
Percent Down:
25%
Huntington Learning Center The Locher Group
CAP Rate:
7.21%
Texsun Pools
Price/SF (GLA):
$239.31
LocalPrintSolution!
Lot Size:
81,457 SF
Farmers Insurance
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
20
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES 3
4
Shadowbriar Shopping Center 12303 Westheimer Houston, TX 77077 Close of Escrow:
4/2/15
Major Tenants
Year Built/:
2001 / 2013
Jimmy John's
Gross Leasable Area (GLA):
16,400 SF
DoubleDave's Pizzaworks
Sale Price:
$4,250,000
Dairy Ashford Medical Clinic
Percent Down: CAP Rate:
25% 7.21%
Price/SF (GLA): Lot Size:
$259.15 62,500 SF
Center at Cinco Ranch 23100 Cinco Ranch Boulevard Katy, TX 77494 Close of Escrow: Year Built: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
5
6/1/15 2002 11,706 SF $3,586,174 100% 7.34% $306.35 1.102 Acres
Major Tenants Nationwide Insurance
Creekside at Town Center 2109 Highway 6 South Sugar Land, TX 77478 Close of Escrow: Year Built: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
6/10/15 2006 13,925 SF $7,000,000 35% 7.14% $502.69 1.6 Acres
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
21
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES 6
The Crossing at Telfair Commons 520 Highway 6 Sugar Land, TX 77478 Close of Escrow: Year Built: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
3/6/15 2014 8,700 SF $3,200,000 100% 7.51% $367.82 1.18 Acres
Major Tenants Mattress Firm Leslie's Pool Supplies Clearview Vision
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
22
ON MARKET COMPARABLES
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner I Shops at Cinco Ranch - Spring Green The Shops At Cross Creek The Shops at Firethorne Firethorne Plaza
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
24
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
CAP RATE AND PRICE PER SF Average Cap Rate 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Shops at Cinco Ranch Spring Green
The Shops At Cross Creek
The Shops at Firethorne
Firethorne Plaza
Average Price per Square Foot 500.00 450.00 400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 Shops at Cinco Ranch Spring Green
The Shops At Cross Creek
The Shops at Firethorne
Firethorne Plaza
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
25
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 20,226 SF Request For Offer 2.36 Acres
Major Tenants First Cup Coffee Prestige Properties Orange Leaf Brick Oven Pizza
Subject Property
1
Shops at Cinco Ranch - Spring Green 27131 Cinco Ranch Boulevard Katy, TX 77494 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
2
On Market 2015 27,500 SF $11,268,000 N/A 7.00% $409.00 N/A
The Shops At Cross Creek 6630 FM 1463 Fulshear, TX 77441 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
On Market 2014 24,226 SF $10,145,714 N/A 7.00% $418.00 N/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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
26
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES 3
The Shops at Firethorne 2611 FM 1463 Katy, TX 77494 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
4
On Market 2015 8,388 SF $4,000,000 N/A 6.00% $476.00 N/A
Firethorne Plaza 2731 FM 1463 Katy, TX 77494 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
On Market 2015 14,986 SF $5,705,000 N/A 7.00% $381.00 N/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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
27
RENT COMPARABLES
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner I Firethorne Plaza The Shops at Cardiff Ranch The Shops at Cross Creek Shops at Cinco Ranch West
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
29
Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
OCCUPANCY AND AVERAGE RENT PER SF Average Occupancy 100 90 80 70 60 50 40 30 20 10 0 Subject
Firethorne Plaza
The Shops at Cardiff Ranch
The Shops at Cross Creek
Shops at Cinco Ranch West
The Shops at Cross Creek
Shops at Cinco Ranch West
Average Rent per Square Foot 33.00 30.00 27.00 24.00 21.00 18.00 15.00 12.00 9.00 6.00 3.00 0.00 Subject
Firethorne Plaza
The Shops at Cardiff Ranch
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
30
Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441 Date Surveyed:
Subject Property
Major Tenants
Occupancy:
100%
First Cup Coffee
Year Built:
2015
Prestige Properties
Gross Leasable Area (GLA):
20,226 SF
Orange Leaf
Rent/SF (GLA):
$25.00
Brick Oven Pizza
Available SF:
0
Lot Size:
2.36 Acres
Lease Type:
1
Firethorne Plaza 2731 FM 1463 Katy, TX 77494
2
Date Surveyed:
6/2014
Major Tenants
Occupancy:
100%
Sealy Dental
Year Built:
2014
Pepperoni's
Gross Leasable Area (GLA):
29,986 SF
Rent/SF (GLA):
$28.00
Available SF:
0
Lot Size:
3.86 Acres
Lease Type:
NNN
The Shops at Cardiff Ranch 4603 FM 1463 Katy, TX 77494 Date Surveyed:
6/2015
Major Tenants
Occupancy:
100%
Lings Chinese Food
Year Built:
2015
Tiny Teeth of Katy
Gross Leasable Area (GLA):
24,250 SF
Z-Zone Fitness
Rent/SF (GLA):
$28.00
Bright Touch Cleaners
Available SF:
0
Lot Size:
2.69 Acres
Lease Type:
NNN
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
31
Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES 3
The Shops at Cross Creek 6630 FM 1463 Katy, TX 77494
4
Date Surveyed:
6/2015
Major Tenants
Occupancy:
100%
UPS
Year Built:
2015
Mattress 1 One
Gross Leasable Area (GLA):
24,226 SF
Keller Williams Realty
Rent/SF (GLA):
$30.00
Available SF:
0
Lot Size:
3.8
Lease Type:
NNN
Shops at Cinco Ranch West 5215 FM 1463 Katy, TX 77494 Date Surveyed:
5/2016
Major Tenants
Occupancy:
100%
RE/MAX
Year Built:
2015
Kumon
Gross Leasable Area (GLA):
Subway
Rent/SF (GLA):
$34.00
Available SF:
0
Lot Size: Lease Type:
NNN
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
32
DEMOGRAPHIC ANALYSIS
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
DEMOGRAPHIC REPORT 2000 Population 2010 Population 2014 Population 2019 Population
1 Mile 217 3,700 5,540 7,038
3 Miles 1,887 20,213 29,066 36,673
5 Miles 8,137 57,092 77,906 97,482
2000 Households 2010 Households 2014 Households 2019 Households
95 1,137 1,711 2,103
724 6,164 8,895 10,959
2,810 17,811 24,368 30,155
2014 Average Household Size
3.25
3.18
3.18
2014 Daytime Population
178
2,772
10,640
2000 Owner Occupied Housing Units 2000 Renter Occupied Housing Units 2000 Vacant
36.71% 56.64% 6.65%
62.94% 31.22% 5.84%
78.68% 15.80% 5.53%
2014 Owner Occupied Housing Units 2014 Renter Occupied Housing Units 2014 Vacant
85.32% 14.68% 6.46%
87.08% 12.92% 5.63%
88.72% 11.28% 3.95%
2019 Owner Occupied Housing Units 2019 Renter Occupied Housing Units 2019 Vacant
86.67% 13.33% 6.63%
87.97% 12.03% 5.69%
89.05% 10.95% 3.84%
3.5% 5.6% 5.3% 6.0% 13.4% 13.2% 12.7% 11.8% 16.1% 5.7% 6.6%
3.6% 5.0% 5.0% 5.6% 13.0% 12.9% 13.0% 12.5% 15.3% 6.4% 7.6%
3.7% 4.4% 4.4% 5.9% 12.7% 13.1% 13.8% 13.0% 15.2% 6.4% 7.6%
2014 Median Household Income 2014 Per Capita Income
$105,653 $41,559
$109,227 $42,840
$110,727 $43,915
2014 Average Household Income
$134,334
$139,833
$140,308
$ 0 - $14,999 $ 15,000 - $24,999 $ 25,000 - $34,999 $ 35,000 - $49,999 $ 50,000 - $74,999 $ 75,000 - $99,999 $100,000 - $124,999 $125,000 - $149,999 $150,000 - $199,999 $200,000 - $249,999 $250,000 +
Demographic data © 2012 by Experian. 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
34
Cross Creek Corner I FULSHEAR, TX
DEMOGRAPHIC ANALYSIS
SUMMARY REPORT Geography: 5 miles Population In 2014, the population in your selected geography is 77,906. The population has changed by 857.42% since 2000. It is estimated that the population in your area will be 97,481 five years from now, which represents a change of 25.12% from the current year. The current population is 49.29% male and 50.70% female. The median age of the population in your area is 34.7, compare this to the Entire US average which is 37.3. The population density in your area is 992.68 people per square mile.
Households There are currently 24,368 households in your selected geography. The number of households has changed by 767.15% since 2000. It is estimated that the number of households in your area will be 30,155 five years from now, which represents a change of 23.74% from the current year. The average household size in your area is 3.18 persons.
Income In 2014, the median household income for your selected geography is $110,727, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 56.39% since 2000. It is estimated that the median household income in your area will be $129,131 five years from now, which represents a change of 16.62% from the current year. The current year per capita income in your area is $43,914, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $140,308, compare this to the Entire US average which is $74,533.
Race & Ethnicity The current year racial makeup of your selected area is as follows: 71.90% White, 6.93% Black, 0.08% Native American and 14.38% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 18.61% of the current year population in your selected area. Compare this to the Entire US average of 17.13%.
Housing In 2000, there were 2,340 owner occupied housing units in your area and there were 469 renter occupied housing units in your area. The median rent at the time was $485.
Employment In 2014, there are 10,639 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 77.84% of employees are employed in white-collar occupations in this geography, and 23.11% are employed in blue-collar occupations. In 2014, unemployment in this area is 5.23%. In 2000, the average time traveled to work was 35.4 minutes.
Demographic data © 2012 by Experian.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
35
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
POPULATION DENSITY
Demographic data © 2012 by Experian.
Number of people living in a given area per square mile.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
36
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
EMPLOYMENT DENSITY
Demographic data © 2012 by Experian.
The number of people employed in a given area per square mile.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
37
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
AVERAGE HOUSEHOLD INCOME
Demographic data © 2012 by Experian.
Average income of all the people 15 years and older occupying a single housing unit.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
38
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
TRAFFIC COUNTS
Traffic Count data © 2012 by TrafficMetrix. All rights reserved.
Two-way, average daily traffic volumes. * Traffic Count Estimate
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
39
Cross Creek Corner I FULSHEAR, TX
CLOSING PAGE
DISCLAIMER
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
40
Cross Creek Corner I FULSHEAR, TX
OFFERING MEMORANDUM
James H. Bell Vice President Investments Director, National Retail Group Houston Office License: TX: 0382650 Tel: (713) 452-4266 Fax: (713) 452-4210 [email protected] www.marcusmillichap.com/JamesHBell
Offices Throughout the U.S and Canada www.MarcusMillichap.com
OFFERING MEMORANDUM
Cross Creek Corner I FULSHEAR, TX
CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified 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. Marcus & Millichap 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, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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.
NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Cross Creek Corner I FULSHEAR, TX
TABLE OF CONTENTS
Section 1
PRICING AND FINANCIAL ANALYSIS
Section 2
PROPERTY DESCRIPTION
Section 3
RECENT SALES
Section 4
ON MARKET COMPARABLES
Section 5
RENT COMPARABLES
Section 6
DEMOGRAPHIC ANALYSIS
PRICING AND FINANCIAL ANALYSIS
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
OFFERING SUMMARY
Major Tenants Tenant Name First Cup Coffee Prestige Properties Orange Leaf Brick Oven Pizza
Price Gross Leasable Area (GLA) Year Built Lot Size
Request For Offer 20,226 2015 2.36 Acres
Demographics 1-Mile
VITAL DATA Net Operating Income - Current
$465,220
Net Operating Income - Pro Forma
$486,902
3-Mile
5-Mile
2014 Population
5,540
29,066
77,906
2019 Population
7,038
36,673
97,482
2014 Households
1,711
8,895
24,368
2019 Households
2,103
10,959
97,482
Median HH Income
$105,653
$109,227
$110,727
Per Capita Income
$41,559
$42,840
$43,915
Average HH Income
$134,334
$139,833
$140,308
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
1
Cross Creek Corner I FULSHEAR, TX
PRICING AND FINANCIAL ANALYSIS
FINANCING Existing Financing Loan Type
Free and Clear
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
2
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
TENANT SUMMARY Suite Tenant
100
102
104
Brick Oven Pizza
Title & Mortgage Co.
Prim & Posh Nails
GLA
% of GLA
Lease Commence
Lease Expire
Annual Rent
Rent/ SF
Changes On
Changes To
4,300
21.26%
4/1/2016
4/1/2021
$107,500.00
$25.00
4/1/2019
$116,100.00
4/1/2020
$124,700.00
4/1/2017
$72,176.00
4/1/2019
$77,728.00
4/1/2017
$36,400.00
4/1/2018
$37,800.00
4/1/2019
$39,200.00
2,776
1,400
13.72%
6.92%
3/1/2015
3/1/2015
4/1/2020
4/1/2020
$66,624.00
$35,000.00
$24.00
$25.00
Other: Options/ % Rent
Lease Type
NNN
NNN
NNN
105
Dry Cleaner
1,400
6.92%
3/1/2015
4/1/2020
$33,600.00
$24.00
4/1/2019
$36,400.00
NNN
103
Orange Leaf Yogurt
1,400
6.92%
3/1/2015
4/1/2020
$30,800.00
$22.00
4/1/2017
$33,600.00
NNN
4/1/2019
$36,400.00
106
Prestige Properties
2,650
13.10%
3/1/2015
4/1/2020
$58,300.00
$22.00
4/1/2019
$63,600.00
NNN
107-
Cammarata Pediatric Dentist
4,200
20.77%
3/1/2015
4/1/25
$100,800.00
$24.00
4/1/2017
$109,200.00
NNN
4/1/2019
$117,600.00
4/1/2021
$126,000.00
4/1/2023
$134,400.00
4/1/2017
$54,600.00
4/1/2019
$58,800.00
110
First Cup Cafe
2,100
10.38%
3/1/2015
4/1/2020
$50,400.00
$24.00
NNN
TOTAL VACANT TOTAL OCCUPIED
20,226
100.00%
$483,024.00
TOTAL
20,226
100.00%
$483,024.00
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
3
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
EXPENSES Real Estate Taxes Insurance CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee TOTAL EXPENSES
Current
Per SF
Pro Forma
Per SF
$55,622 $10,113
$2.75 $0.50
$55,622 $10,113
$2.75 $0.50
$8,090 $13,956 $2,629 $24,675 $20,024
$0.40 $0.69 $0.13 $1.22 $0.99
$8,090 $13,956 $2,629 $24,675 $20,024
$0.40 $0.69 $0.13 $1.22 $0.99
$110,434
$5.46
$110,434
$5.46
Tenants (% OF GLA)
Dry Cleaner: 6.92% Prim & Posh Nails: 6.92% First Cup Cafe: 10.38%
Orange Leaf Yogurt: 6.92% Brick Oven Pizza: 21.26%
Prestige Properties: 13.10% Title & Mortgage Co.: 13.72%
Cammarata Pediatric Dentist: 20.77%
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
4
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
INCOME & EXPENSES Gross Leasable Area (GLA)
20,226
SF
Current
Per SF
Pro Forma
Per SF
$483,024
$23.88
$505,376
$24.99
$483,024
$23.88
$505,376
$24.99
Real Estate Taxes
$55,622
$2.75
$55,622
$2.75
Insurance
$10,113
$0.50
$10,113
$0.50
CAM
$24,675
$1.22
$24,675
$1.22
Management Fee
$20,024
$0.99
$20,024
$0.99
$593,458
$29.34
$615,810
$30.45
Base Rent
Occupied Space GROSS POTENTIAL RENT Expense Reimbursements
GROSS POTENTIAL INCOME Vacancy/Collection Allowance (% of GPI)
3% / $17,804
$0.88
3% / $18,474
$0.91
EFFECTIVE GROSS INCOME
$575,654
$28.46
$597,336
$29.53
Total Expenses
$110,434
$5.46
$110,434
$5.46
NET OPERATING INCOME
$465,220
$23.00
$486,902
$24.07
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
5
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
LEASE EXPIRATION SUMMARY
For The Year Beginning
Year 1 Jan 2016
Year 2 Jan 2017
Year 3 Jan 2018
Year 4 Jan 2019
Tenant(s) Name
Total Number of Tenants
Year 5 Jan 2020
Year 6 Jan 2021
Title & Mortgage Co. Prim & Posh Nails Dry Cleaner Orange Leaf Yogurt Prestige Properties First Cup Cafe
Brick Oven Pizza
Year 7 Jan 2022
Year 8 Jan 2023
Year 9 Jan 2024
Year 10 Jan 2025 Cammarata Pediatric Dentist
6
1
1
Total Square Feet
11,726
4,300
4,200
Total Percentage
58.0%
21.3%
20.8%
Cumulative Percentage
58.0%
79.2%
100.0%
100%
6
90% 5
70% 4 60% 50%
3
40%
Number of Tenants
Total Project Square Footage
80%
2
30% 20%
1 10% 0%
0
Jan 2016 0%
Jan 2017 0%
Jan 2018 0%
Jan 2019 0%
Percentage of SF Expiring
Jan 2020 58%
Jan 2021 21%
Number of Tenants Expiring
Jan 2022 0%
Jan 2023 0%
Jan 2024 0%
Jan 2025 21%
Cumulative % of SF Expiring
Any projections, opinions, assumptions or estimates used here within are for example purposes only and do not represent the current or future performance of the property.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
6
Cross Creek Corner I PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
FINANCIAL OVERVIEW Annualized Operating Data
Location 11525 South Fry Road
Income
Fulshear, TX 77441
Current
Pro Forma
$483,024
$505,376
Base Rent
Price Gross Leasable Area (GLA) Lot Size Year Built
Occupied Space
Request For Offer 20,226 2.36 Acres 2015
Gross Potential Rent
$483,024
$505,376
Expense Reimbursements
$110,434
$110,434
Gross Potential Income Vacancy/Collection Allowance
$593,458
$615,810
3% / $17,804
3% / $18,474
Effective Gross Income
$575,654
$597,336
Total Expenses
$110,434
$110,434
Net Operating Income
$465,220
$486,902
Expenses Real Estate Taxes
$55,622
$55,622
Insurance
$10,113
$10,113
CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee (% of EGI) TOTAL EXPENSES EXPENSES/SF
$8,090
$8,090
$13,956
$13,956
$2,629
$2,629
$24,675
$24,675
3.5% / $20,024
3.4% / $20,024
$110,434
$110,434
$5.46
$5.46
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
7
PROPERTY DESCRIPTION
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
INVESTMENT OVERVIEW Investment Highlights ■ Across from Aldi Grocery ■ High Growth Katy/Fulshear Submarket | 250 Percent Growth Since 2010 ■ NNN Leases ■ Under Market Rents | Fixed Rent Increases During Primary Term ■ Located in Katy Independent School District | Ranked Number One in Houston MSA ■ Cross Access to Hard Corner of FM 1463 and Fry Road - A Signalized Intersection
Cross Creek Corner I is a 20,226 square foot multi-tenant shopping center located in Fulshear, Texas that was completed in 2015. It is adjacent to a CVS Pharmacy, which is on the signalized corner of FM 1463 and Fry Road. The subject property is directly across the street from a brand new Aldi grocery store development. The property is located on one of the two main entrances of Cross Creek Ranch, a 3,200 acre/7,800 home master planned community developed by Johnson Development. Fulshear is a very fast growing market. The population has increased over 250 percent from 2010 to 2014 and has continued to evolve. The area has an average household income of $140,000, and will soon be home to three new grocery stores in the next 12 months (HEB, Aldi and Walmart). It is also located in Katy Independent School District, which according to recent educational rankings, is named the best school district in the Houston MSA.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
9
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
PROPERTY SUMMARY The Offering
Property Property Address
Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441
Site Description
Year Built
2015
Gross Leasable Area (GLA)
20,226 SF
Lot Size
2.36 Acres
Type of Ownership
Fee Simple
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
10
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
PROPERTY PHOTOS
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
11
Cross Creek Corner I FULSHEAR, TX
PROPERTY DESCRIPTION
AREA MAPS
Local Map
Regional Map
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
12
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
13
PROPERTY DESCRIPTION
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
14
PROPERTY DESCRIPTION
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
15
PROPERTY DESCRIPTION
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner I
16
PROPERTY DESCRIPTION
RECENT SALES
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES MAP
1) 2) 3) 4) 5) 6)
Cross Creek Corner I The Shops at Terramont The Commons at Kings Crossing Shadowbriar Shopping Center Center at Cinco Ranch Creekside at Town Center The Crossing at Telfair Commons
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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Cross Creek Corner I RECENT SALES
FULSHEAR, TX
CAP RATE AND PRICE PER SF Average Cap Rate 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 The Shops at Terramont
The Commons at Kings Crossing
Shadowbriar Shopping Center
Center at Cinco Ranch
Creekside at Town Center
The Crossing at Telfair Commons
Average Price per Square Foot 500.00 450.00 400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 The Shops at Terramont
The Commons at Kings Crossing
Shadowbriar Shopping Center
Center at Cinco Ranch
Creekside at Town Center
The Crossing at Telfair Commons
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
19
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 20,226 SF Request For 2.36 Acres
Major Tenants First Cup Coffee Prestige Properties Orange Leaf Brick Oven Pizza
Subject Property
1
2
The Shops at Terramont 10110 Woodlands Parkway The Woodlands, TX 77382 Close of Escrow:
6/23/15
Major Tenants
Year Built:
2007
Family Medicine At Sterling Ridge
Gross Leasable Area (GLA):
14,561 SF
Edward Jones
Sale Price:
$4,900,000
QA Nails & Spa
Percent Down: CAP Rate:
100% 7.18%
Caffe Di Fiore Donut Express
Price/SF (GLA): Lot Size:
$336.52 85,098 SF
Bradshaw Periodontics Terramont Orthodontics
The Commons at Kings Crossing 2714 West Lake Houston Parkway Kingwood, TX 77339 Close of Escrow:
10/22/15
Major Tenants
Year Built:
1996
Little Gym on Kingwood
Gross Leasable Area (GLA):
22,147 SF
Northeast Family Medicine
Sale Price:
$5,300,000
Percent Down:
25%
Huntington Learning Center The Locher Group
CAP Rate:
7.21%
Texsun Pools
Price/SF (GLA):
$239.31
LocalPrintSolution!
Lot Size:
81,457 SF
Farmers Insurance
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
20
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES 3
4
Shadowbriar Shopping Center 12303 Westheimer Houston, TX 77077 Close of Escrow:
4/2/15
Major Tenants
Year Built/:
2001 / 2013
Jimmy John's
Gross Leasable Area (GLA):
16,400 SF
DoubleDave's Pizzaworks
Sale Price:
$4,250,000
Dairy Ashford Medical Clinic
Percent Down: CAP Rate:
25% 7.21%
Price/SF (GLA): Lot Size:
$259.15 62,500 SF
Center at Cinco Ranch 23100 Cinco Ranch Boulevard Katy, TX 77494 Close of Escrow: Year Built: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
5
6/1/15 2002 11,706 SF $3,586,174 100% 7.34% $306.35 1.102 Acres
Major Tenants Nationwide Insurance
Creekside at Town Center 2109 Highway 6 South Sugar Land, TX 77478 Close of Escrow: Year Built: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
6/10/15 2006 13,925 SF $7,000,000 35% 7.14% $502.69 1.6 Acres
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
21
Cross Creek Corner I RECENT SALES
FULSHEAR, TX
RECENT SALES 6
The Crossing at Telfair Commons 520 Highway 6 Sugar Land, TX 77478 Close of Escrow: Year Built: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
3/6/15 2014 8,700 SF $3,200,000 100% 7.51% $367.82 1.18 Acres
Major Tenants Mattress Firm Leslie's Pool Supplies Clearview Vision
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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ON MARKET COMPARABLES
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner I Shops at Cinco Ranch - Spring Green The Shops At Cross Creek The Shops at Firethorne Firethorne Plaza
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
CAP RATE AND PRICE PER SF Average Cap Rate 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Shops at Cinco Ranch Spring Green
The Shops At Cross Creek
The Shops at Firethorne
Firethorne Plaza
Average Price per Square Foot 500.00 450.00 400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 Shops at Cinco Ranch Spring Green
The Shops At Cross Creek
The Shops at Firethorne
Firethorne Plaza
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
25
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 20,226 SF Request For Offer 2.36 Acres
Major Tenants First Cup Coffee Prestige Properties Orange Leaf Brick Oven Pizza
Subject Property
1
Shops at Cinco Ranch - Spring Green 27131 Cinco Ranch Boulevard Katy, TX 77494 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
2
On Market 2015 27,500 SF $11,268,000 N/A 7.00% $409.00 N/A
The Shops At Cross Creek 6630 FM 1463 Fulshear, TX 77441 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
On Market 2014 24,226 SF $10,145,714 N/A 7.00% $418.00 N/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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
26
Cross Creek Corner I ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES 3
The Shops at Firethorne 2611 FM 1463 Katy, TX 77494 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
4
On Market 2015 8,388 SF $4,000,000 N/A 6.00% $476.00 N/A
Firethorne Plaza 2731 FM 1463 Katy, TX 77494 Status: Year Built: Gross Leasable Area (GLA): List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
On Market 2015 14,986 SF $5,705,000 N/A 7.00% $381.00 N/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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
27
RENT COMPARABLES
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner I Firethorne Plaza The Shops at Cardiff Ranch The Shops at Cross Creek Shops at Cinco Ranch West
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
OCCUPANCY AND AVERAGE RENT PER SF Average Occupancy 100 90 80 70 60 50 40 30 20 10 0 Subject
Firethorne Plaza
The Shops at Cardiff Ranch
The Shops at Cross Creek
Shops at Cinco Ranch West
The Shops at Cross Creek
Shops at Cinco Ranch West
Average Rent per Square Foot 33.00 30.00 27.00 24.00 21.00 18.00 15.00 12.00 9.00 6.00 3.00 0.00 Subject
Firethorne Plaza
The Shops at Cardiff Ranch
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
30
Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES Cross Creek Corner I 11525 South Fry Road Fulshear, TX 77441 Date Surveyed:
Subject Property
Major Tenants
Occupancy:
100%
First Cup Coffee
Year Built:
2015
Prestige Properties
Gross Leasable Area (GLA):
20,226 SF
Orange Leaf
Rent/SF (GLA):
$25.00
Brick Oven Pizza
Available SF:
0
Lot Size:
2.36 Acres
Lease Type:
1
Firethorne Plaza 2731 FM 1463 Katy, TX 77494
2
Date Surveyed:
6/2014
Major Tenants
Occupancy:
100%
Sealy Dental
Year Built:
2014
Pepperoni's
Gross Leasable Area (GLA):
29,986 SF
Rent/SF (GLA):
$28.00
Available SF:
0
Lot Size:
3.86 Acres
Lease Type:
NNN
The Shops at Cardiff Ranch 4603 FM 1463 Katy, TX 77494 Date Surveyed:
6/2015
Major Tenants
Occupancy:
100%
Lings Chinese Food
Year Built:
2015
Tiny Teeth of Katy
Gross Leasable Area (GLA):
24,250 SF
Z-Zone Fitness
Rent/SF (GLA):
$28.00
Bright Touch Cleaners
Available SF:
0
Lot Size:
2.69 Acres
Lease Type:
NNN
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
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Cross Creek Corner I RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES 3
The Shops at Cross Creek 6630 FM 1463 Katy, TX 77494
4
Date Surveyed:
6/2015
Major Tenants
Occupancy:
100%
UPS
Year Built:
2015
Mattress 1 One
Gross Leasable Area (GLA):
24,226 SF
Keller Williams Realty
Rent/SF (GLA):
$30.00
Available SF:
0
Lot Size:
3.8
Lease Type:
NNN
Shops at Cinco Ranch West 5215 FM 1463 Katy, TX 77494 Date Surveyed:
5/2016
Major Tenants
Occupancy:
100%
RE/MAX
Year Built:
2015
Kumon
Gross Leasable Area (GLA):
Subway
Rent/SF (GLA):
$34.00
Available SF:
0
Lot Size: Lease Type:
NNN
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
32
DEMOGRAPHIC ANALYSIS
Cross Creek Corner I FULSHEAR, TX
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
DEMOGRAPHIC REPORT 2000 Population 2010 Population 2014 Population 2019 Population
1 Mile 217 3,700 5,540 7,038
3 Miles 1,887 20,213 29,066 36,673
5 Miles 8,137 57,092 77,906 97,482
2000 Households 2010 Households 2014 Households 2019 Households
95 1,137 1,711 2,103
724 6,164 8,895 10,959
2,810 17,811 24,368 30,155
2014 Average Household Size
3.25
3.18
3.18
2014 Daytime Population
178
2,772
10,640
2000 Owner Occupied Housing Units 2000 Renter Occupied Housing Units 2000 Vacant
36.71% 56.64% 6.65%
62.94% 31.22% 5.84%
78.68% 15.80% 5.53%
2014 Owner Occupied Housing Units 2014 Renter Occupied Housing Units 2014 Vacant
85.32% 14.68% 6.46%
87.08% 12.92% 5.63%
88.72% 11.28% 3.95%
2019 Owner Occupied Housing Units 2019 Renter Occupied Housing Units 2019 Vacant
86.67% 13.33% 6.63%
87.97% 12.03% 5.69%
89.05% 10.95% 3.84%
3.5% 5.6% 5.3% 6.0% 13.4% 13.2% 12.7% 11.8% 16.1% 5.7% 6.6%
3.6% 5.0% 5.0% 5.6% 13.0% 12.9% 13.0% 12.5% 15.3% 6.4% 7.6%
3.7% 4.4% 4.4% 5.9% 12.7% 13.1% 13.8% 13.0% 15.2% 6.4% 7.6%
2014 Median Household Income 2014 Per Capita Income
$105,653 $41,559
$109,227 $42,840
$110,727 $43,915
2014 Average Household Income
$134,334
$139,833
$140,308
$ 0 - $14,999 $ 15,000 - $24,999 $ 25,000 - $34,999 $ 35,000 - $49,999 $ 50,000 - $74,999 $ 75,000 - $99,999 $100,000 - $124,999 $125,000 - $149,999 $150,000 - $199,999 $200,000 - $249,999 $250,000 +
Demographic data © 2012 by Experian. 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
34
Cross Creek Corner I FULSHEAR, TX
DEMOGRAPHIC ANALYSIS
SUMMARY REPORT Geography: 5 miles Population In 2014, the population in your selected geography is 77,906. The population has changed by 857.42% since 2000. It is estimated that the population in your area will be 97,481 five years from now, which represents a change of 25.12% from the current year. The current population is 49.29% male and 50.70% female. The median age of the population in your area is 34.7, compare this to the Entire US average which is 37.3. The population density in your area is 992.68 people per square mile.
Households There are currently 24,368 households in your selected geography. The number of households has changed by 767.15% since 2000. It is estimated that the number of households in your area will be 30,155 five years from now, which represents a change of 23.74% from the current year. The average household size in your area is 3.18 persons.
Income In 2014, the median household income for your selected geography is $110,727, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 56.39% since 2000. It is estimated that the median household income in your area will be $129,131 five years from now, which represents a change of 16.62% from the current year. The current year per capita income in your area is $43,914, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $140,308, compare this to the Entire US average which is $74,533.
Race & Ethnicity The current year racial makeup of your selected area is as follows: 71.90% White, 6.93% Black, 0.08% Native American and 14.38% Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and 5.02% Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up 18.61% of the current year population in your selected area. Compare this to the Entire US average of 17.13%.
Housing In 2000, there were 2,340 owner occupied housing units in your area and there were 469 renter occupied housing units in your area. The median rent at the time was $485.
Employment In 2014, there are 10,639 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 77.84% of employees are employed in white-collar occupations in this geography, and 23.11% are employed in blue-collar occupations. In 2014, unemployment in this area is 5.23%. In 2000, the average time traveled to work was 35.4 minutes.
Demographic data © 2012 by Experian.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
35
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
POPULATION DENSITY
Demographic data © 2012 by Experian.
Number of people living in a given area per square mile.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
36
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
EMPLOYMENT DENSITY
Demographic data © 2012 by Experian.
The number of people employed in a given area per square mile.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
37
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
AVERAGE HOUSEHOLD INCOME
Demographic data © 2012 by Experian.
Average income of all the people 15 years and older occupying a single housing unit.
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
38
Cross Creek Corner I DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
TRAFFIC COUNTS
Traffic Count data © 2012 by TrafficMetrix. All rights reserved.
Two-way, average daily traffic volumes. * Traffic Count Estimate
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
39
Cross Creek Corner I FULSHEAR, TX
CLOSING PAGE
DISCLAIMER
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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 X0040279 Marcus & Millichap. All rights reserved.
40
Cross Creek Corner I FULSHEAR, TX
OFFERING MEMORANDUM
James H. Bell Vice President Investments Director, National Retail Group Houston Office License: TX: 0382650 Tel: (713) 452-4266 Fax: (713) 452-4210 [email protected] www.marcusmillichap.com/JamesHBell
Offices Throughout the U.S and Canada www.MarcusMillichap.com
