Issuu

Northgate Plaza

0408

0410

4/30/2023

- 1/31/2020 10/1/2007 - 6/30/2022

- 3/31/2021

0510

0512

0514

0516

0602

0604

0610

11/1/2013 - 10/31/2018

0612

10/1/2017 - 3/31/2021

0614

5/15/2017 - 11/14/2022

7/1/2016 - 12/31/2026

9/1/2011 - 8/31/2021

0716

- 6/30/2020

- 7/31/2020

- 11/30/2023

0912

0914

0916

1/1/2014 - 12/31/2021 2/1/2012 - 1/31/2018 10/10/2016 - 10/31/2021

4/15/2017 - 4/14/2023 11/2/2015 - 5/31/2021

6/1/2030 - 5/31/2035

8/1/2012 - 1/31/2018

6/1/2015 - 8/31/2018

4/1/2018 - 3/31/2023

7/9/2015 - 7/31/2020

- 10/31/2022

- 5/31/2023 6/1/2018 - 5/31/2023

- 5/31/2021

- 4/30/2023

- 1/30/2022

- 11/30/2020

- 5/31/2021

Garcias SuperMarket Two, 7-year options at FMV 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Century 21 No remaining options

Big Lots Three 5-year options @ $5.23 psf/yr, $5.75 psf/yr, & $6.32 psf/yr 5% cap on controllable CAM; Co-Tenancy: If shopping center occupancy drops below 65%, Tenant may pay Alternate Rent (50% of fixed minimum rent) or terminate w 90 days notice. If Tenant has not terminated w/in 12 months of paying Alternate Rent, tenant is to resume paying full rent.; Tenant has Exclusive on general merchandise, discount store, liquidator, closeout store, furniture store, or dollar store operation ("Competing Business"). Examples of Competing Business shall include without limitation: Dollar General, Dollar General Market, Dollar Tree, Encore, Family Dollar, 99 Cents Only (and any store with the word 99 Cent in its name), Deals, Save-A-Lot, Marc's, Fred's. Super 10, Maxway, Mazel, Odd Job, Amazing Savings, Ocean State Job Lot, Grossman's, Bargain Outlet, Greenbacks, Kings Discount, Building 19, National Wholesale Liquidators, Dollar Dreams, Christmas Tree Shops, Five Below, Encore and Ollie's Bargain Outlet.

Faith Armory No remaining options 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Briar Patch #3 No remaining options Exclusive: LL shall not lease a portion of the Shopping Center to a tenant that primarily sells greeting cards.

Gigi's Salon No options 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Freedom Fellowship Two, 5-year options at FMV Gross Lease structure

DB Computers No remaining options

Dr. Singleton No remaining options Exclusive: LL shall not lease any space within the Shopping Center to another tenant whose primary business is dentistry.

Livingston Hearing Aid Two, 5-year options; 1st at $14.85 psf/yr; and 2nd at FMV 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Tranquility Salon & Spa One, 5-year options at $14.85 psf/yr 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses.

Sun Yur Bunz One, 5-year option at $13.50 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses. Exclusive: LL shall not lease any space within the Shopping Center to another tenant whose primary business is as a tanning salon providing tanning bed and sunless-spray tanning services; or who as it's primary use the right to sell the following tanning products: Designer Skin, Supre Tan, Australian Gold, Swedish Beauty, Versa Spa, Ultimate, and Perfomance Brands.

TENANT RENEWAL OPTIONS NOTES

Painting with a Twist One, 5-year option at FMV 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses.

Fruteria Chely

Vacant (LOI)

Tenant took space in "as is" condition and paid for their own tenant improvements, hence the below market rental rate.

Six month rent abatement. $13.00 per sf beginning Nov-2017.

Urban Air Two, 5-year options at FMV 5% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses. Exclusive: LL shall not execute any lease for space within the Shopping Center with a tenant whose Principal Business Activity is the operation of (a) an indoor trampoline park, including a large foam pit, indoor slam dunk track, and ropes cours, (b) a laser tag operation, (c) a children's bounce house operation, or (d) a gaming arcade ("Exclusive Use") and that Tenant shall have the exclusive right within the Shopping Center to the Exlusive Use. Aaron Rents One, 5-year option at $10.25 10% cap on NNN's

cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses.

cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

TENANT RENEWAL OPTIONS NOTES

Buffet City Two, 5-year options; 1st at $14.85 psf/yr; and 2nd at FMV

Exclusive: LL shall not enter into an agreement for space in the Shopping Center with a restaurant, the primary business of which is the sale of Asian themed food (generating more than 15% of its revenue from the retail sale of Asian food).

Verizon Wireless Two, 5-year options each with a 2.5% increase

Liberty Tax None 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utitlity charges, insurance, snow removal or HVAC maintenance or repair expenses. Exclusive: LL shall not enter into an agreement for a tenant with whose primary business is tax preparation.

Game X Change One, 5-year option at FMV 8% cap on controllable CAM. Such cap shall not apply to taxes or similar expenses, utility charges, insurance, snow removal or HVAC maintenance or repair expenses.

Elf Shoe Repair Two, 5-year options; 1st at $20.70 psf/yr; 2nd at $23.80 psf/yr

Schlotzsky's Deli One, 5-year option at FMV 8% cap on controllable CAM

Freedom Fellowship Intl Two, 5-year options at FMV Gross Lease structure

Computers is vacating at the end of their term 8/31/17.

T enan T S ummary

Big Lots is a unique, non-traditional, discount retailer offering brand-name closeouts and bargains that create a unique, exciting shopping experience for millions of customers. Big Lots offers a broad assortment of merchandise, including consumables, seasonal products, furniture, housewares, toys and gifts.

T enan T S ummary

Urban Air Trampoline Park is the nation’s premier indoor trampoline and adventure park. Urban Air Trampoline Park offers a variety of trampoline activities on its wall-to-wall trampolines, foam pit, trampoline dodgeball, trampoline runway, slam dunk track and trampoline bowl.

T enan T S ummary

Aaron’s is a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories.

T enan T S ummary

Schlotzsky’s is an international sandwich franchise restaurant chain with locations in 35 states and three foreign countries. This quick service restaurant offers fresh baked bread, delicious hot sandwiches, Artisan flatbreads, specialty pizzas, toasted wraps, freshly tossed salads, gourmet soups, and more.

• Sought After Value-Add Opportunity- Current Occupancy of 88.02% -Up of the Available 28,092 Square Feet Of Retail and Restaurant Space

• Contractual Rent Increases- 48.2% Of The Current Tenant Line-Up Have Annual Rent Escalations Structured in Their Leases

• Priced Below Replacement Cost- Opportunity to Acquire a Retail Asset at $78 Per Square Foot, Well Below Replacement Cost

• National Tenancy- Strong Mix Of Nationally Recognized Retailers in Tenant Line-Up Representing 35% of the Current Revenue Including Big Lots, Verizon, Aaron’s, and Schlotsky’s Deli

• Exceptional Freeway Access- Located Near The Crossroads Of Interstate 35E And US Hwy 287, Which Sees More Than 95,000 Cars Every Day

• Expanded Trade Area Demographics- Populations of 39,276 Residents Within a Five Mile Radius Increasing to More Than 109,763 Residents Within Ten Miles With 11.12% Growth

WAXAHACHIE, TX

Waxahachie, Texas is the county seat of Ellis County, Texas and lies just beyond the southern suburbs of Dallas. According to the 2010 census, the population of Waxahachie was 29,621, with an estimated population of 32,344 in 2014. The origin of the name “Waxahachie” is largely unknown but is said to possibly mean “cow” or “buffalo” in an unspecified Native American language according to some sources.

Waxahachie is also known as the “Gingerbread City” due to the architecture of several homes and buildings remaining from before 1900. The city holds a yearly tour known as the Gingerbread Trail, which includes Victorian-style houses with gingerbread carpentry, the most popular architectural style, as well as combinations with Queen Ann’s, Classic Renaissance, or Roman Doric revival. The Nicholas P. Sims Library and the octagonally shaped Chautauqua Auditorium are examples of the 300 Waxahachie structures listed on the National Register of Historic Places. The most iconic building in Waxahachie is the red sandstone and granite Victorian courthouse, designed by James Riely Gordon and completed in

1897, in the town’s square. In the 1980s four movies were filmed in Waxahachie- Places in the Heart, Tender Mercies and The Trip to Bountiful. The town is home to the Ellis County Historical Museum and Gallery and also hosts the annual Scarborough Renaissance Faire and an annual Christmas parade and tour of homes.

Companies such as Southwest Data Solutions are selecting downtown Waxahachie because of its excellent location and historic charm. The downtown area is actively being restored and redeveloped so commercial and residential space is available for businesses and family. Other employment opportunities in the city are highly oriented towards industry. Owens Corning, Georgia-Pacific, Fortra Fiber Cement, GMP/GPPAW RockTenn, AEP Industries, Magnablend, Dart Container are located within a few miles of each other. Non-industrial employers include Baylor Scott & White Health, Waxahachie Independent School District, Walgreen Distribution Center, Wal-Mart, HEB Grocery, and Southwestern Assemblies of God University.

CONFIDENTIALITY AGREEMENT

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.

This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

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

Net Lease Disclaimer

STRIVE hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

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

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

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

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

Approved by the Texas Real Estate Commission for Voluntary Use

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

Information About Brokerage Services

Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:

The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:

The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:

A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain

the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;

(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;

(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and

(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.