Cross Creek Corner II
Cross Creek Corner II FULSHEAR, TX
OFFERING MEMORANDUM
Cross Creek Corner II 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 II 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 II FULSHEAR, TX
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
OFFERING SUMMARY Major Tenants Tenant Name Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag Kids Clothing Steeplechase Pediatrics Montessori School
Major Employers Local Employees
Company Price Gross Leasable Area (GLA) Year Built Lot Size
Request For Offer 18,010 2015 Approx. 2 Acres
VITAL DATA Net Operating Income - Current
Igloo Products Corp
990
Walmart
258
Home Depot The
200
Target
177
Rylander Elementary School
150
H E Butt Grocery Company
145
Sirva Inc
130
Kohls
123
Beckendorff Junior High School
106
Michael L Griffin Elem Sch
106
Odessa Kilpatrick Elem School
106
Seven Lakes High School
106
$402,959
Demographics 1-Mile
3-Miles
5-Miles
2014 Total Population
4,866
28,691
76,946
2019 Total Population 2014 Total Households
6,181
36,188
96,294
1,505
8,791
24,086
1,851
10,827
29,804
$105,646
$109,214
$110,628
Per Capita Income (based on Total Population)
$41,630
$42,902
$43,912
Average (Mean) HH Income
$134,329
$139,850
$140,196
2019 Total Households Median HH Income
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 X0040394 Marcus & Millichap. All rights reserved.
1
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
2
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
TENANT SUMMARY Suite
Tenant
101
Montessori School
GLA
% of GLA
Lease Commence
Lease Expire
Annual Rent
Rent/ SF
Changes On
Changes To
Lease Type
4,600
25.54%
5/15/16
7/31/21
$115,000.00
$25.00
5/15/18
$124,200.00
NNN
5/15/20
$133,400.00
102
Vacant
1,550
8.61%
N/A
N/A
$0.00
$0.00
103
Allstate Insurance
1,400
7.77%
7/1/16
5/31/21
$35,000.00
$25.00
105
106
107
108
Aerial Fitness
Alpha Math Station
Hash Tag
Steeplechase Pediatric
TOTAL VACANT
4,700
1,260
1,400
3,100
26.10%
7.00%
7.77%
17.21%
2/1/16
5/1/16
4/1/16
2/1/16
4/30/21
8/31/21
7/31/21
6/30/23
$117,500.00
$31,500.00
$35,000.00
$77,500.00
1,550
8.61%
$0.00
TOTAL OCCUPIED
16,460
91.39%
$411,500.00
TOTAL
18,010
100.00%
$411,500.00
$25.00
$25.00
$25.00
$25.00
N/A 7/1/18
$37,800.00
7/1/20
$40,600.00
2/1/18
$126,900.00
2/1/20
$136,300.00
5/1/18
$34,020.00
5/1/20
$36,540.00
4/1/17
$37,800.00
4/1/20
$40,600.00
2/1/17
$80,600.00
2/1/18
$83,700.00
2/1/19 2/1/20
$86,800.00 $89,900.00
2/1/21
$93,000.00
NNN
NNN
NNN
NNN
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 X0040394 Marcus & Millichap. All rights reserved.
3
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
EXPENSES Current
Per SF
Real Estate Taxes Insurance CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee
$50,000 $9,000
$2.78 $0.50
$7,200 $12,600 $2,400 $22,200 $18,000
$0.40 $0.70 $0.13 $1.23 $1.00
TOTAL EXPENSES
$99,200
$5.51
Tenants (% OF GLA)
Hash Tag: 7.77% Allstate Insurance: 7.77% Vacant: 8.61%
Alpha Math Station: 7.00%
Aerial Fitness: 26.10%
Steeplechase Pediatric: 17.21% Montessori School: 25.54%
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 X0040394 Marcus & Millichap. All rights reserved.
4
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
INCOME & EXPENSES Gross Leasable Area (GLA)
18,010
SF
Current
Per SF
$411,500
$22.85
$411,500
$22.85
$45,695
$2.54
$8,225
$0.46
CAM
$20,289
$1.13
Management Fee
$16,450
$0.91
GROSS POTENTIAL INCOME
$502,159
$27.88
EFFECTIVE GROSS INCOME
$502,159
$27.88
$99,200
$5.51
$402,959
$22.37
Base Rent
Occupied Space GROSS POTENTIAL RENT Expense Reimbursements Real Estate Taxes Insurance
Total Expenses NET OPERATING INCOME
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 X0040394 Marcus & Millichap. All rights reserved.
5
Cross Creek Corner II 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
Year 5 Jan 2020
Tenant(s) Name
Year 6 Jan 2021
Year 7 Jan 2022
Montessori School Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag
Total Number of Tenants
Year 8 Jan 2023
Year 9 Jan 2024
Year 10 Jan 2025
Steeplechase Pediatric
5
1
Total Square Feet
13,360
3,100
Total Percentage
74.2%
17.2%
Cumulative Percentage
74.2%
91.4%
100%
5
90% 4
70% 60%
3
50% 40%
2
Number of Tenants
Total Project Square Footage
80%
30% 20%
1
10% 0%
0
Jan 2016 0%
Jan 2017 0%
Jan 2018 0%
Jan 2019 0%
Percentage of SF Expiring
Jan 2020 0%
Jan 2021 74%
Number of Tenants Expiring
Jan 2022 0%
Jan 2023 17%
Jan 2024 0%
Jan 2025 0%
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 X0040394 Marcus & Millichap. All rights reserved.
6
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
FINANCIAL OVERVIEW Annualized Operating Data
Location 11605 South Fry Road
Income
Fulshear, TX 77441
Current
Base Rent
Price Gross Leasable Area (GLA) Lot Size Year Built
Occupied Space
$411,500
Gross Potential Rent
$411,500
Request For Offer 18,010
Expense Reimbursements
$90,659
Approx. 2 Acres
Gross Potential Income
$502,159
2015
Effective Gross Income
$502,159
Total Expenses Net Operating Income
$99,200 $402,959
Expenses Real Estate Taxes Insurance
$50,000 $9,000
CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee (% of EGI) TOTAL EXPENSES EXPENSES/SF
$7,200 $12,600 $2,400 $22,200 3.6% / $18,000 $99,200 $5.51
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 X0040394 Marcus & Millichap. All rights reserved.
7
PROPERTY DESCRIPTION
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II 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 Signalized Intersection
Cross Creek Corner II is an 18,010 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 X0040394 Marcus & Millichap. All rights reserved.
9
Cross Creek Corner II FULSHEAR, TX
PROPERTY DESCRIPTION
PROPERTY SUMMARY The Offering
Property
Cross Creek Corner II
Property Address
11605 South Fry Road Fulshear, TX 77441
Site Description
Year Built Gross Leasable Area (GLA) Lot Size Type of Ownership
2015 18,010 SF Approx. 2 Acres 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 X0040394 Marcus & Millichap. All rights reserved.
10
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
11
Cross Creek Corner II 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 X0040394 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 X0040394 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner II
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 X0040394 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner II
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 X0040394 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner II
15
PROPERTY DESCRIPTION
RECENT SALES
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II RECENT SALES
FULSHEAR, TX
RECENT SALES MAP
1) 2) 3) 4) 5) 6)
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
17
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
18
Cross Creek Corner II RECENT SALES
FULSHEAR, TX
RECENT SALES Cross Creek Corner II 11605 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 18,010 SF Request For Approx. 2 Acres
Major Tenants Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag Kids Clothing Montessori School Steeplechase Pediatrics
Close of Escrow:
6/23/15
Major Tenants
Year Built:
2007
Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
14,561 SF $4,900,000 100% 7.18% $336.52 85,098 SF
Family Medicine At Sterling Ridge Edward Jones QA Nails & Spa Caffe Di Fiore Donut Express Bradshaw Periodontics Terramont Orthodontics
Subject Property
1
2
The Shops at Terramont 10110 Woodlands Parkway The Woodlands, TX 77382
The Commons at Kings Crossing 2714 West Lake Houston Parkway Kingwood, TX 77339 Close of Escrow:
10/22/15
Major Tenants
Year Built: Gross Leasable Area (GLA):
1996 22,147 SF
Sale Price:
$5,300,000
Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
25% 7.21% $239.31 81,457 SF
Little Gym on Kingwood Northeast Family Medicine Huntington Learning Center The Locher Group Texsun Pools LocalPrintSolution! 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 X0040394 Marcus & Millichap. All rights reserved.
19
Cross Creek Corner II RECENT SALES
FULSHEAR, TX
RECENT SALES 3
Shadowbriar Shopping Center 12303 Westheimer Houston, TX 77077 Close of Escrow: Year Built/: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
4
Major Tenants Jimmy John's DoubleDave's Dairy Ashford Medical
6/1/15 2002 11,706 SF $3,586,174 100% 7.34% $306.35 1.102 Acres
Major Tenants Nationwide Insurance
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
4/2/15 2001 / 2013 16,400 SF $4,250,000 25% 7.21% $259.15 62,500 SF
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 X0040394 Marcus & Millichap. All rights reserved.
20
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
21
ON MARKET COMPARABLES
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
23
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
24
Cross Creek Corner II ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES Cross Creek Corner II 11605 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 18,010 SF Request For Offer Approx. 2 Acres
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
Major Tenants Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag Kids Clothing Montessori School Steeplechase Pediatrics
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):
On Market 2014 24,226 SF
List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
$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 X0040394 Marcus & Millichap. All rights reserved.
25
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
26
RENT COMPARABLES
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
28
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
29
Cross Creek Corner II RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES Cross Creek Corner II 11605 South Fry Road Fulshear, TX 77441 Date Surveyed:
Subject Property
Major Tenants
Occupancy:
91%
Allstate Insurance
Year Built:
2015
Aerial Fitness
Gross Leasable Area (GLA):
18,010 SF
Alpha Math Station
Rent/SF (GLA):
$25.00
Hash Tag Kids Clothing
Available SF:
1,550
Montessori School
Lot Size:
Approx. 2 Acres
Steeplechase Pediatrics
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
Lease Type:
1
Firethorne Plaza 2731 FM 1463 Katy, TX 77494
2
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 X0040394 Marcus & Millichap. All rights reserved.
30
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
31
DEMOGRAPHIC ANALYSIS
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
DEMOGRAPHIC REPORT 2000 Population 2010 Population 2014 Population 2019 Population
1 Mile 190 3,250 4,866 6,181
3 Miles 1,867 19,918 28,691 36,188
5 Miles 7,956 56,244 76,946 96,294
2000 Households 2010 Households 2014 Households 2019 Households
84 1,000 1,505 1,851
718 6,083 8,791 10,827
2,755 17,562 24,086 29,804
2014 Average Household Size
3.25
3.18
3.18
2014 Daytime Population
160
2,631
10,486
2000 Owner Occupied Housing Units 2000 Renter Occupied Housing Units 2000 Vacant
36.76% 56.59% 6.65%
62.91% 31.23% 5.86%
78.47% 16.12% 5.41%
2014 Owner Occupied Housing Units 2014 Renter Occupied Housing Units 2014 Vacant
85.33% 14.67% 6.46%
87.08% 12.92% 5.65%
88.69% 11.31% 3.99%
2019 Owner Occupied Housing Units 2019 Renter Occupied Housing Units 2019 Vacant
86.67% 13.33% 6.63%
87.97% 12.03% 5.72%
89.03% 10.97% 3.89%
3.5% 5.6% 5.3% 6.0% 13.4% 13.2% 12.7% 11.8% 16.1% 5.7% 6.6%
3.7% 5.1% 5.0% 5.6% 13.0% 12.9% 13.0% 12.5% 15.3% 6.4% 7.6%
3.7% 4.4% 4.5% 5.9% 12.7% 13.0% 13.7% 13.0% 15.2% 6.4% 7.6%
2014 Median Household Income 2014 Per Capita Income
$105,646 $41,630
$109,214 $42,902
$110,628 $43,912
2014 Average Household Income
$134,329
$139,850
$140,196
$ 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 X0040394 Marcus & Millichap. All rights reserved.
33
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
34
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
35
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
36
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
37
Cross Creek Corner II 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 II 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 II 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 II FULSHEAR, TX
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
OFFERING SUMMARY Major Tenants Tenant Name Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag Kids Clothing Steeplechase Pediatrics Montessori School
Major Employers Local Employees
Company Price Gross Leasable Area (GLA) Year Built Lot Size
Request For Offer 18,010 2015 Approx. 2 Acres
VITAL DATA Net Operating Income - Current
Igloo Products Corp
990
Walmart
258
Home Depot The
200
Target
177
Rylander Elementary School
150
H E Butt Grocery Company
145
Sirva Inc
130
Kohls
123
Beckendorff Junior High School
106
Michael L Griffin Elem Sch
106
Odessa Kilpatrick Elem School
106
Seven Lakes High School
106
$402,959
Demographics 1-Mile
3-Miles
5-Miles
2014 Total Population
4,866
28,691
76,946
2019 Total Population 2014 Total Households
6,181
36,188
96,294
1,505
8,791
24,086
1,851
10,827
29,804
$105,646
$109,214
$110,628
Per Capita Income (based on Total Population)
$41,630
$42,902
$43,912
Average (Mean) HH Income
$134,329
$139,850
$140,196
2019 Total Households Median HH Income
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 X0040394 Marcus & Millichap. All rights reserved.
1
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
2
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
TENANT SUMMARY Suite
Tenant
101
Montessori School
GLA
% of GLA
Lease Commence
Lease Expire
Annual Rent
Rent/ SF
Changes On
Changes To
Lease Type
4,600
25.54%
5/15/16
7/31/21
$115,000.00
$25.00
5/15/18
$124,200.00
NNN
5/15/20
$133,400.00
102
Vacant
1,550
8.61%
N/A
N/A
$0.00
$0.00
103
Allstate Insurance
1,400
7.77%
7/1/16
5/31/21
$35,000.00
$25.00
105
106
107
108
Aerial Fitness
Alpha Math Station
Hash Tag
Steeplechase Pediatric
TOTAL VACANT
4,700
1,260
1,400
3,100
26.10%
7.00%
7.77%
17.21%
2/1/16
5/1/16
4/1/16
2/1/16
4/30/21
8/31/21
7/31/21
6/30/23
$117,500.00
$31,500.00
$35,000.00
$77,500.00
1,550
8.61%
$0.00
TOTAL OCCUPIED
16,460
91.39%
$411,500.00
TOTAL
18,010
100.00%
$411,500.00
$25.00
$25.00
$25.00
$25.00
N/A 7/1/18
$37,800.00
7/1/20
$40,600.00
2/1/18
$126,900.00
2/1/20
$136,300.00
5/1/18
$34,020.00
5/1/20
$36,540.00
4/1/17
$37,800.00
4/1/20
$40,600.00
2/1/17
$80,600.00
2/1/18
$83,700.00
2/1/19 2/1/20
$86,800.00 $89,900.00
2/1/21
$93,000.00
NNN
NNN
NNN
NNN
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 X0040394 Marcus & Millichap. All rights reserved.
3
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
EXPENSES Current
Per SF
Real Estate Taxes Insurance CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee
$50,000 $9,000
$2.78 $0.50
$7,200 $12,600 $2,400 $22,200 $18,000
$0.40 $0.70 $0.13 $1.23 $1.00
TOTAL EXPENSES
$99,200
$5.51
Tenants (% OF GLA)
Hash Tag: 7.77% Allstate Insurance: 7.77% Vacant: 8.61%
Alpha Math Station: 7.00%
Aerial Fitness: 26.10%
Steeplechase Pediatric: 17.21% Montessori School: 25.54%
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 X0040394 Marcus & Millichap. All rights reserved.
4
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
INCOME & EXPENSES Gross Leasable Area (GLA)
18,010
SF
Current
Per SF
$411,500
$22.85
$411,500
$22.85
$45,695
$2.54
$8,225
$0.46
CAM
$20,289
$1.13
Management Fee
$16,450
$0.91
GROSS POTENTIAL INCOME
$502,159
$27.88
EFFECTIVE GROSS INCOME
$502,159
$27.88
$99,200
$5.51
$402,959
$22.37
Base Rent
Occupied Space GROSS POTENTIAL RENT Expense Reimbursements Real Estate Taxes Insurance
Total Expenses NET OPERATING INCOME
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 X0040394 Marcus & Millichap. All rights reserved.
5
Cross Creek Corner II 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
Year 5 Jan 2020
Tenant(s) Name
Year 6 Jan 2021
Year 7 Jan 2022
Montessori School Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag
Total Number of Tenants
Year 8 Jan 2023
Year 9 Jan 2024
Year 10 Jan 2025
Steeplechase Pediatric
5
1
Total Square Feet
13,360
3,100
Total Percentage
74.2%
17.2%
Cumulative Percentage
74.2%
91.4%
100%
5
90% 4
70% 60%
3
50% 40%
2
Number of Tenants
Total Project Square Footage
80%
30% 20%
1
10% 0%
0
Jan 2016 0%
Jan 2017 0%
Jan 2018 0%
Jan 2019 0%
Percentage of SF Expiring
Jan 2020 0%
Jan 2021 74%
Number of Tenants Expiring
Jan 2022 0%
Jan 2023 17%
Jan 2024 0%
Jan 2025 0%
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 X0040394 Marcus & Millichap. All rights reserved.
6
Cross Creek Corner II PRICING AND FINANCIAL ANALYSIS
FULSHEAR, TX
FINANCIAL OVERVIEW Annualized Operating Data
Location 11605 South Fry Road
Income
Fulshear, TX 77441
Current
Base Rent
Price Gross Leasable Area (GLA) Lot Size Year Built
Occupied Space
$411,500
Gross Potential Rent
$411,500
Request For Offer 18,010
Expense Reimbursements
$90,659
Approx. 2 Acres
Gross Potential Income
$502,159
2015
Effective Gross Income
$502,159
Total Expenses Net Operating Income
$99,200 $402,959
Expenses Real Estate Taxes Insurance
$50,000 $9,000
CAM Utilities Repairs & Maintenance Contract Services TOTAL CAM Management Fee (% of EGI) TOTAL EXPENSES EXPENSES/SF
$7,200 $12,600 $2,400 $22,200 3.6% / $18,000 $99,200 $5.51
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 X0040394 Marcus & Millichap. All rights reserved.
7
PROPERTY DESCRIPTION
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II 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 Signalized Intersection
Cross Creek Corner II is an 18,010 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 X0040394 Marcus & Millichap. All rights reserved.
9
Cross Creek Corner II FULSHEAR, TX
PROPERTY DESCRIPTION
PROPERTY SUMMARY The Offering
Property
Cross Creek Corner II
Property Address
11605 South Fry Road Fulshear, TX 77441
Site Description
Year Built Gross Leasable Area (GLA) Lot Size Type of Ownership
2015 18,010 SF Approx. 2 Acres 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 X0040394 Marcus & Millichap. All rights reserved.
10
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
11
Cross Creek Corner II 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 X0040394 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 X0040394 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner II
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 X0040394 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner II
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 X0040394 Marcus & Millichap. All rights reserved.
AERIAL PHOTO
FULSHEAR, TX
Cross Creek Corner II
15
PROPERTY DESCRIPTION
RECENT SALES
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II RECENT SALES
FULSHEAR, TX
RECENT SALES MAP
1) 2) 3) 4) 5) 6)
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
17
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
18
Cross Creek Corner II RECENT SALES
FULSHEAR, TX
RECENT SALES Cross Creek Corner II 11605 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 18,010 SF Request For Approx. 2 Acres
Major Tenants Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag Kids Clothing Montessori School Steeplechase Pediatrics
Close of Escrow:
6/23/15
Major Tenants
Year Built:
2007
Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
14,561 SF $4,900,000 100% 7.18% $336.52 85,098 SF
Family Medicine At Sterling Ridge Edward Jones QA Nails & Spa Caffe Di Fiore Donut Express Bradshaw Periodontics Terramont Orthodontics
Subject Property
1
2
The Shops at Terramont 10110 Woodlands Parkway The Woodlands, TX 77382
The Commons at Kings Crossing 2714 West Lake Houston Parkway Kingwood, TX 77339 Close of Escrow:
10/22/15
Major Tenants
Year Built: Gross Leasable Area (GLA):
1996 22,147 SF
Sale Price:
$5,300,000
Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
25% 7.21% $239.31 81,457 SF
Little Gym on Kingwood Northeast Family Medicine Huntington Learning Center The Locher Group Texsun Pools LocalPrintSolution! 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 X0040394 Marcus & Millichap. All rights reserved.
19
Cross Creek Corner II RECENT SALES
FULSHEAR, TX
RECENT SALES 3
Shadowbriar Shopping Center 12303 Westheimer Houston, TX 77077 Close of Escrow: Year Built/: Gross Leasable Area (GLA): Sale Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
4
Major Tenants Jimmy John's DoubleDave's Dairy Ashford Medical
6/1/15 2002 11,706 SF $3,586,174 100% 7.34% $306.35 1.102 Acres
Major Tenants Nationwide Insurance
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
4/2/15 2001 / 2013 16,400 SF $4,250,000 25% 7.21% $259.15 62,500 SF
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 X0040394 Marcus & Millichap. All rights reserved.
20
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
21
ON MARKET COMPARABLES
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
23
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
24
Cross Creek Corner II ON MARKET COMPARABLES
FULSHEAR, TX
ON MARKET COMPARABLES Cross Creek Corner II 11605 South Fry Road Fulshear, TX 77441 Year Built: Gross Leasable Area (GLA): Offering Price: Lot Size:
2015 18,010 SF Request For Offer Approx. 2 Acres
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
Major Tenants Allstate Insurance Aerial Fitness Alpha Math Station Hash Tag Kids Clothing Montessori School Steeplechase Pediatrics
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):
On Market 2014 24,226 SF
List Price: Percent Down: CAP Rate: Price/SF (GLA): Lot Size:
$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 X0040394 Marcus & Millichap. All rights reserved.
25
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
26
RENT COMPARABLES
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES MAP
1) 2) 3) 4)
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
28
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
29
Cross Creek Corner II RENT COMPARABLES
FULSHEAR, TX
RENT COMPARABLES Cross Creek Corner II 11605 South Fry Road Fulshear, TX 77441 Date Surveyed:
Subject Property
Major Tenants
Occupancy:
91%
Allstate Insurance
Year Built:
2015
Aerial Fitness
Gross Leasable Area (GLA):
18,010 SF
Alpha Math Station
Rent/SF (GLA):
$25.00
Hash Tag Kids Clothing
Available SF:
1,550
Montessori School
Lot Size:
Approx. 2 Acres
Steeplechase Pediatrics
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
Lease Type:
1
Firethorne Plaza 2731 FM 1463 Katy, TX 77494
2
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 X0040394 Marcus & Millichap. All rights reserved.
30
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
31
DEMOGRAPHIC ANALYSIS
Cross Creek Corner II FULSHEAR, TX
Cross Creek Corner II DEMOGRAPHIC ANALYSIS
FULSHEAR, TX
DEMOGRAPHIC REPORT 2000 Population 2010 Population 2014 Population 2019 Population
1 Mile 190 3,250 4,866 6,181
3 Miles 1,867 19,918 28,691 36,188
5 Miles 7,956 56,244 76,946 96,294
2000 Households 2010 Households 2014 Households 2019 Households
84 1,000 1,505 1,851
718 6,083 8,791 10,827
2,755 17,562 24,086 29,804
2014 Average Household Size
3.25
3.18
3.18
2014 Daytime Population
160
2,631
10,486
2000 Owner Occupied Housing Units 2000 Renter Occupied Housing Units 2000 Vacant
36.76% 56.59% 6.65%
62.91% 31.23% 5.86%
78.47% 16.12% 5.41%
2014 Owner Occupied Housing Units 2014 Renter Occupied Housing Units 2014 Vacant
85.33% 14.67% 6.46%
87.08% 12.92% 5.65%
88.69% 11.31% 3.99%
2019 Owner Occupied Housing Units 2019 Renter Occupied Housing Units 2019 Vacant
86.67% 13.33% 6.63%
87.97% 12.03% 5.72%
89.03% 10.97% 3.89%
3.5% 5.6% 5.3% 6.0% 13.4% 13.2% 12.7% 11.8% 16.1% 5.7% 6.6%
3.7% 5.1% 5.0% 5.6% 13.0% 12.9% 13.0% 12.5% 15.3% 6.4% 7.6%
3.7% 4.4% 4.5% 5.9% 12.7% 13.0% 13.7% 13.0% 15.2% 6.4% 7.6%
2014 Median Household Income 2014 Per Capita Income
$105,646 $41,630
$109,214 $42,902
$110,628 $43,912
2014 Average Household Income
$134,329
$139,850
$140,196
$ 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 X0040394 Marcus & Millichap. All rights reserved.
33
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
34
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
35
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
36
Cross Creek Corner II 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 X0040394 Marcus & Millichap. All rights reserved.
37
Cross Creek Corner II 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
