Village Real Shopping Center - Webster, TX

VILLAGE REAL SHOPPING CENTER WEBSTER, TX (HOUSTON MSA)

PRI CING & F INAN CI AL AN ALYSI S

V ILLAG E R E AL SH O P P ING C E NT E R

Village Real Shopping Center 961 E NASA Pkwy Webster, TX 77598

OFFERING SUMMARY Price Cap Rate Net Operating Income

$15,217,000 7.28% $1,107,498

Price PSF

$161.44

Occupancy

91.7%

Year Built

1976

Gross Leasable Area

94,259 SF

Lot Size

8.71 Acres

F I N A N C I A L A N A LY S I S

2

PRI CING & F INAN CI AL AN ALYSI S

V ILLAG E R E AL SH O P P ING C E NT E R

PROJECTED INCOME & EXPENSES

CURRENT

PSF

EXPENSES

CURRENT

PSF

Base Rent - Occupied Space

$1,168,667

$12.40

Real Estate Taxes

$203,068

$2.15

$1,168,667

$12.40

Insurance

$73,142

$0.78

GROSS POTENTIAL RENT

CAM

Expense Reimbursements Real Estate Tax Recoveries

$186,184

$1.98

Utilities

$17,243

$0.18

Insurance Recoveries

$67,078

$0.71

Building Repairs & Maintenance

$2,110

$0.02

CAM Recoveries

$73,222

$0.78

Parking Lot Sweeping

$11,598

$0.12

Management Recoveries

$28,832

$0.31

Parking Lot Lighting & Repairs

$7,650

$0.08

Total Expense Reimbursements

$355,315

$3.77

Ground Maintenance/Landscaping

$18,023

$0.19

EFFECTIVE GROSS REVENUE

$1,523,980

$16.17

Fire Alarm/Safety

$11,154

$0.12

Association Fees

$3,179

$0.03

Trash Removal/Pick-Up

$20,498

$0.22

$91,456

$0.97

$48,815

$0.52

$416,481

$4.42

Operating Expenses Total Real Estate Taxes

$203,068

$2.15

Total Insurance

$73,142

$0.78

Total CAM

Total CAM

$91,456

$0.97

Management Fee

$48,815

$0.52

Total Expenses

Total Recoverable Expenses

$416,481

$4.42

Net Operating Income

$1,107,498

$11.75

Management Fee

3.10%

3.10%

For Financing Options, Please Contact: Greg Holley | Managing Partner High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com

F I N A N C I A L A N A LY S I S

3

RE NT RO L L

Tenant

V ILLAG E R E AL SH O P P ING C E NT E R

Suite

SQ FT

% of SQFT

Lease Dates

Minimum Rent

Recoveries

Total

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

The Tree House

901

2,960

3.14%

10/12

09/28

$56,980

$4,748

$19.25

$13,675

$4.62

$70,655

4.64%

Edwardo's Mexican

911

3,735

3.96%

05/11

04/26

$74,700

$6,225

$20.00

$16,503

$4.42

$91,203

5.98%

Available

913

2,826

3.00%

-

-

$0

$0

$0.00

$0

$0.00

$0

0.00%

Family Dollar

915A

9,000

9.55%

02/21

01/31

$81,000

$6,750

$9.00

$35,105

$3.90

$116,105

7.62%

Hidden Treasure

925

16,609

17.62%

07/06

05/26

$181,895

$15,158

$10.95

$73,387

$4.42

$255,281

16.75%

Available

933

5,005

5.31%

-

-

$0

$0

$0.00

$0

$0.00

$0

0.00%

Panatex Insurance

935

1,300

1.38%

05/15

06/28

$16,800

$1,400

$12.92

$5,744

$4.42

$22,544

1.48%

Atitlan Restaurant

939

3,207

3.40%

02/15

03/29

$51,312

$4,276

$16.00

$14,170

$4.42

$65,482

4.30%

Powerhouse Racing

945

2,167

2.30%

05/21

08/24

$30,338

$2,528

$14.00

$9,575

$4.42

$39,913

2.62%

Fully Promoted

951

1,647

1.75%

02/19

01/27

$26,352

$2,196

$16.00

$7,277

$4.42

$33,629

2.21%

Nasa Liquor Store

953

1,235

1.31%

02/14

01/29

$20,378

$1,698

$16.50

$5,457

$4.42

$25,834

1.70%

Clinica Hispana Vida y

955

1,495

1.59%

01/21

12/26

$23,920

$1,993

$16.00

$6,606

$4.42

$30,526

2.00%

Nassau Bay Postal

957

1,950

2.07%

04/11

01/29

$33,150

$2,763

$17.00

$8,616

$4.42

$41,766

2.74%

Hollywood Hair

959

1,040

1.10%

09/09

08/24

$17,056

$1,421

$16.40

$4,595

$4.42

$21,651

1.42%

Office Depot

961

21,803

23.13%

04/08

03/28

$239,833

$19,986

$11.00

$78,062

$3.58

$317,895

20.86%

Half Price Books

961B

8,440

8.95%

02/08

01/28

$111,408

$9,284

$13.20

$33,065

$3.92

$144,473

9.48%

F I N A N C I A L A N A LY S I S

4

RE NT RO L L

Tenant

V ILLAG E R E AL SH O P P ING C E NT E R

Suite

SQ FT

% of SQFT

Lease Dates

Minimum Rent

Recoveries

Total

Start

End

Annual

Monthly

PSF

Annual

PSF

Revenue

% of Revenue

Subway

963

2,040

2.16%

01/11

12/25

$46,920

$3,910

$23.00

$9,014

$4.42

$55,934

3.67%

Suzie's Nails

965

820

0.87%

02/14

01/25

$20,520

$1,710

$25.02

$3,623

$4.42

$24,143

1.58%

Evergrande Lifestyle

967

1,620

1.72%

04/16

03/26

$26,730

$2,228

$16.50

$7,158

$4.42

$33,888

2.22%

Hello Tealious

969

1,000

1.06%

05/21

04/26

$20,000

$1,667

$20.00

$4,418

$4.42

$24,419

1.60%

Masa Sushi Restaurant

977

4,360

4.63%

06/11

10/25

$89,376

$7,448

$20.50

$19,265

$4.42

$108,641

7.13%

Total Count/GLA

21

94,259

100%

Totals

$1,168,667 $97,389

Occupied

19

86,428

91.7%

Available

2

7,831

8.3%

$355,315

$1,523,982 100.00%

F I N A N C I A L A N A LY S I S

5

E S TI MATED REIMBUR SEMEN T R EVEN U E

Tenant

Suite

SQ FT

% of SQFT

V ILLAG E R E AL SH O P P ING C E NT E R

Real Estate Taxes

Insurance

CAM

Management Fee

Total Recovery

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

Monthly

PSF

The Tree House

901

2,960

3.14%

$530

$2.15

$192

$0.78

$289

$1.17

$128

$0.52

$1,140

$4.62

Edwardo's Mexican

911

3,735

3.96%

$671

$2.15

$242

$0.78

$302

$0.97

$161

$0.52

$1,375

$4.42

Available

913

2,826

3.00%

$0

$0.00

$0

$0.00

$0

$0.00

$0

$0.00

$0

$0.00

Family Dollar

915A

9,000

9.55%

$1,616

$2.15

$582

$0.78

$728

$0.97

$0

$0.00

$2,925

$3.90

Hidden Treasure

925

16,609

17.62%

$2,982

$2.15

$1,074

$0.78

$1,343

$0.97

$717

$0.52

$6,116

$4.42

Available

933

5,005

5.31%

$0

$0.00

$0

$0.00

$0

$0.00

$0

$0.00

$0

$0.00

Panatex Insurance

935

1,300

1.38%

$233

$2.15

$84

$0.78

$105

$0.97

$56

$0.52

$479

$4.42

Atitlan Restaurant

939

3,207

3.40%

$576

$2.15

$207

$0.78

$259

$0.97

$138

$0.52

$1,181

$4.42

Powerhouse Racing

945

2,167

2.30%

$389

$2.15

$140

$0.78

$175

$0.97

$94

$0.52

$798

$4.42

Fully Promoted

951

1,647

1.75%

$296

$2.15

$107

$0.78

$133

$0.97

$71

$0.52

$606

$4.42

Nasa Liquor Store

953

1,235

1.31%

$222

$2.15

$80

$0.78

$100

$0.97

$53

$0.52

$455

$4.42

Clinica Hispana Vida y

955

1,495

1.59%

$268

$2.15

$97

$0.78

$121

$0.97

$65

$0.52

$550

$4.42

Nassau Bay Postal

957

1,950

2.07%

$350

$2.15

$126

$0.78

$158

$0.97

$84

$0.52

$718

$4.42

Hollywood Hair

959

1,040

1.10%

$187

$2.15

$67

$0.78

$84

$0.97

$45

$0.52

$383

$4.42

Office Depot

961

21,803

23.13%

$3,914

$2.15

$1,410

$0.78

$1,181

$0.65

$0

$0.00

$6,505

$3.58

Half Price Books

961B

8,440

8.95%

$1,515

$2.15

$546

$0.78

$329

$0.47

$366

$0.52

$2,755

$3.92

Subway

963

2,040

2.16%

$366

$2.15

$132

$0.78

$165

$0.97

$88

$0.52

$751

$4.42

Suzie's Nails

965

820

0.87%

$147

$2.15

$53

$0.78

$66

$0.97

$35

$0.52

$302

$4.42

Evergrande Lifestyle

967

1,620

1.72%

$291

$2.15

$105

$0.78

$131

$0.97

$70

$0.52

$596

$4.42

Hello Tealious

969

1,000

1.06%

$180

$2.15

$65

$0.78

$81

$0.97

$43

$0.52

$368

$4.42

Masa Sushi Restaurant

977

4,360

4.63%

$783

$2.15

$282

$0.78

$353

$0.97

$188

$0.52

$1,605

$4.42

94,259

100%

$15,515

Totals

$5,590

$6,102

$2,403

$29,610

F I N A N C I A L A N A LY S I S

6

L E A SE PROVIS ION S Tenant

V ILLAG E R E AL SH O P P ING C E NT E R Suite

SQ FT

Base Rental Increases

Renewal Options

Date

PSF

Options

Date

PSF

Cam Cap

Cam Cap Description

User Restrictions & Exclusive Rights

The Tree House

901

2,960

-

-

-

-

-

-

-

-

Edwardo's Mexican Restarant

911

3,735

-

-

-

-

-

-

-

-

Available

913

2,826

-

-

-

-

-

-

-

-

$9.50 $10.00 $10.50 $11.00 $11.50

5%

Non-Cumulative CAM Cap

No other discount stores under 40k sqft

Family Dollar

915A

9,000

-

-

5x5

2/1/2031 2/1/2036 2/1/2041 2/1/2046 2/1/2051

Hidden Treasure

925

16,609

-

-

-

-

-

-

-

-

Available

933

5,005

-

-

-

-

-

-

-

-

Panatex Insurance

935

1,300

-

-

-

-

-

-

-

-

Atitlan Restaurant

939

3,207

-

-

-

-

-

-

-

-

Powerhouse Racing

945

2,167

-

-

-

-

-

-

-

-

-

-

No retail store with primary sale is logo wear, team wear, embroiderd items, or advertising specialties

Fully Promoted

951

1,647

-

-

1x5

MKT Rate not 2/1/2027 less than $16 psf

Nasa Liquor Store

953

1,235

2/1/2026

$17.25

1x5

2/1/2029

MKT Rate

-

-

-

Clinica Hispana Vida y

955

1,495

-

-

-

-

-

-

-

-

Nassau Bay Postal

957

1,950

2/1/2027

$18.00

-

-

-

-

-

-

Hollywood Hair

959

1,040

-

-

-

-

-

-

-

No other discount hair salons

F I N A N C I A L A N A LY S I S

7

L E A SE PROVIS ION S Tenant

V ILLAG E R E AL SH O P P ING C E NT E R Suite

SQ FT

Base Rental Increases Date

Office Depot

961

21,803

-

Renewal Options

PSF

-

Options

Date

PSF

2x5

4/1/2028 4/1/2033

$13.00 $14.00

Cam Cap

Cam Cap Description

User Restrictions & Exclusive Rights

5%

Cannot exceed 5% over prior year. Excluding utl, snow removal, security and insurance

-

8%

Exclusive to sell new and used Non-Cumulative Cap on books, magazines, Controllable CAM Expenses records, e-books (etc,)

Half Price Books

961B

8,440

2/1/2026

$14.52

-

-

-

Subway

963

2,040

-

-

1x5

1/1/2026

$25.00

Suzie's Nails

965

820

-

-

-

-

-

-

-

-

Evergrande Lifestyle

967

1,620

-

-

-

-

-

-

-

-

Hello Tealious

969

1,000

5/1/2024

$21.75

-

-

-

-

-

-

Masa Sushi Restaurant

977

4,360

-

-

-

-

-

-

-

-

Totals

-

94,259 NASA MISSION CONTROL CENTER SPACE CENTER HOUSTON

EL CAMINO REAL

20,998 VPD

E A

8 ,6 40

N SA

0

W Y

D VP

PK

F I N A N C I A L A N A LY S I S

8

ge Real Shopping Center S I T E PL A N

V ILLAG E R E AL SH O P P ING C E NT E R

on, TX

Evergrande Lifestyle 965

EL CAMINO REAL

955

Hollywood Hair 959

945

Nasa Liquor 953

933

939

5,000 SF

Atitlan Restaurant

VACANT

Panatex Insurance 935

967

Suzie’s Nails

Hidden Treasures 925

N.A.P N.A.P

The Tree House 901

925

VACANT 2,826 SF

Eduardo’s Mexican 911 Resaturant 911

N.A.P

N

E NASA PARKWAY

PROPERTY DESCRIPTION

9

TE NA NT INF ORMAT I ON

V ILLAG E R E AL SH O P P ING C E NT E R

DBA

Office Depot

Locations

1,400+ Locations

Public/Private

Public (NASDAQ: ODP)

Line of Business

Office Depot, Inc. is an American office supply retailer headquartered in Boca Raton, Florida. The company operates 1,400 retail stores in the United States under the Office Depot and OfficeMax brands, as well as e-commerce sites and a business-to-business sales organization. The company has combined annual sales of approximately $11 billion, and employs about 38,000 associates with businesses in the United States.

DBA

Half Price Books

Locations

127 Locations

Public/Private

Private

Line of Business

Half Price Books, Records, Magazines, Incorporated is a chain of new and used bookstores in the United States. The company’s original motto is “We buy and sell anything printed or recorded except yesterday’s newspaper”, and many of the used books, music, and movies for sale in each location are purchased from local residents.

The corporate office is located in the flagship Northwest Highway location in Dallas, Texas. Half Price Books now operates more than 127 stores (including outlets) in 17 states.

DBA

Subway

Locations

37,000+ Locations

Public/Private

Private

Line of Business

Subway IP LLC, doing business as Subway, is an American multinational fast food restaurant franchise that specializes in submarine sandwiches, wraps, salads and drinks. Subway was founded by Fred DeLuca and financed by Peter Buck in 1965 as Pete’s Super Submarines in Bridgeport, Connecticut. After several name changes in the beginning years, it was finally renamed Subway in 1972, and a franchise operation began in 1974 with a second restaurant in Wallingford, Connecticut. Since then it has expanded to become a global franchise.

PROPERTY DESCRIPTION

10

TE NA NT INF ORMAT I ON

V ILLAG E R E AL SH O P P ING C E NT E R

DBA

Family Dollar Stores Inc.

Locations

8,200+ Locations

Public/Private

Public (NASDAQ: DLTR)

Line of Business

Family Dollar Stores, Inc. is an American variety store chain. With over 8,000 locations in all states except Alaska and Hawaii, it was the second largest retailer of its type in the United States until it was acquired by Dollar Tree in 2015 and its headquarters operations were moved from Matthews, a suburb of Charlotte, North Carolina, to Chesapeake, Virginia, located in South Hampton Roads. On July 28, 2014, Dollar Tree announced that it would buy Family Dollar for $8.5 billion.

DBA

Masa Sushi

Locations

3 Locations

Public/Private

Private

Line of Business

A fusion of American contemporary decor with Asian accents. A unifying theme between its environment and the food a blend of cultures. Masa, meaning graceful and elegant, combines traditional Japanese recipes with splashes of American culinary influence throughout the menu. Owner Michael ShiXin Zhou came to the United States in 1994 and opened his first restaurant in 2000, which he sold in 2004. Michael believes Asain and American cuisine can blend to make a perfect match. After all, he has been a sushi chef for more than 30 years.

DBA

Fully Promoted Branded Apparel & Promotional Products

Locations

250+ Locations

Public/Private

Private

Line of Business

What started as a small, family-owned business quickly transformed into the world’s largest branded apparel and promotional products franchise, boasting locations around the world. Currently, there are more than 250 Fully Promoted stores in more than 11 countries worldwide. While the company headquarters remains stationed at its original base in West Palm Beach, Florida, our promotional marketing franchise has a strong presence all over the world. Fully Promoted maintains hubs in major areas around the globe, including Canada, Australia, Europe, and Africa

PROPERTY DESCRIPTION

11

I N VE S TMENT HI GHLI GHT S

•

V ILLAG E R E AL SH O P P ING C E NT E R

91.7% Occupied Neighborhood Retail Center Spanning 94,249 SF on 8.71 Acres within Webster, TX

•

Long-Term Tenancy –72% of Current Tenancy has Been in the Center for Over 10 Years.

•

Value-Add Opportunity – 7,831 sf of Vacancy and Below Market Rents with an Average of $13.72/sf NNN. The Average Rental Rate for Small Shop Space in This Submarket Exceeds $24/sf.

•

Exceptional Positioning and Traffic Counts – Village Real is Ideally Positioned on the NWC of El Camino Real & NASA Pkwy, the Dominant Intersection within the NASA/Clear Lake Submarket. Combined Traffic Counts at the Intersection Exceed 61,000 Vehicles Per Day.

•

Signalized Hard Corner with Superior Access and Visibility – Significant Frontage on Both NASA Pkwy (660 ft) and El Camino Real (610 ft) with 8 Points of Ingress & Egress.

•

Traffic Generators – Village Real is Located Less Than 2 Miles From Both NASA Johnson Space Center (3,200+ Employees & 1.25M+ Annual Visitors) and Houston Methodist Clear Lake Hospital (1,100+ Employees & 220,000+ Annual Outpatient Visits)

•

Booming Houston Metro with 200,000 Residents in 5-Mile Radius and Average Household Incomes Above $113,000

PROPERTY DESCRIPTION

12

A E R I AL MA P

V ILLAG E R E AL SH O P P ING C E NT E R

SPACE CENTER INTERMEDIATE

BAYBROOK MALL

HCA HOUSTON HEALTHCARE CLEAR LAKE EN AS AP KW Y

68 0 40,

MC WHIRTER ELEMENTARY SCHOOL

VPD

CLEAR VIEW HIGH SCHOOL

MARKET OVERVIEW

13

LO C AL MA P

V ILLAG E R E AL SH O P P ING C E NT E R

MARKET OVERVIEW

14

REG IONA L MA P

V ILLAG E R E AL SH O P P ING C E NT E R

MARKET OVERVIEW

15

M A R KET S U MMARY

V ILLAG E R E AL SH O P P ING C E NT E R

Houston, TX

OVERVIEW Houston is the most populous city in Texas and the fourth-most populous city in the U.S., with an estimated 2020 population of 2,304,580. The seat of Harris County, Houston is the principal city of the Greater Houston metropolitan area, which is the fifth most populous MSA in the country (2021 population estimate of 7,206,841). Houston has one of the fastestgrowing and most diverse populations anywhere in the world. From 2010 to 2018, Houston added 1.1 million new residents, an 18.2 percent increase, the fastest rate of population growth among the 10 most populous U.S. Metros.

The Houston region is made up of 12 unique counties, and the region’s geographic location makes it easy to move both goods and people around the globe.

Houston's strategic, central location coupled with the infrastructure of four of the country's largest ports, two international airports and major highway and rail service make this a dynamic hub for a large cross-section of industries. As these industries digitize, Houston is a hotbed of rapid technological development thanks to access to customers and expertise.

Houston’s economy has a broad industrial base in energy, manufacturing, aeronautics, and

transportation. Only New York City is home to more Fortune 500 companies. The city is also home of the Texas Medical Center, the world's largest concentration of health care and research institutions, and NASA's Johnson Space Center. The Port of Houston ranks first in the U.S. in international waterborne tonnage handled and second in total cargo tonnage handled. Houston is ranked third in the entire world in the Financial Times Cities of the Future global rankings. Houston secures the third spot for being “a reputable talent hub,” boasting five of the world’s Top 500 universities and placing second in the world in business expansion with 53 new projects between 2015 and 2020. Houston has many cultural institutions and exhibits which attract more than 7 million visitors a year to the Houston Museum District. The U.S. Bureau of Economic Analysis (BEA) estimates Houston’s gross domestic product (GDP) at $512.2 billion in 2019, ranking it as the nation’s seventh largest metro economy. The Houston region has a GDP greater than 37 states and accounts for 27.8 percent of Texas’ GDP. Once predominantly oil and gas focused, today Houston is a diverse, vibrant metro with a dynamic quality of life and a variety of growing industries.

Q U I C K S TAT S

1 3rd 4th 7th 24 st

Most-Populous City in the State of Texas Best Global Cities of the Future (Financial Times, 2020)

Most-Populous City in the United States

Largest Metro Economy in the United States

Fortune 500 Companies Call Houston Home (Fortune) MARKET OVERVIEW

16

D E M OG RA PHIC STAT I ST I CS

V ILLAG E R E AL SH O P P ING C E NT E R

3 Mile

5 Mile

10 Mile

Population

3 Mile

5 Mile

10 Mile

Households:

2010 Population

67,141

178,786

507,206

2010 Households

29,366

70,406

183,609

2023 Population

72,317

200,512

571,058

2023 Households

31,464

79,597

208,295

2028 Population Projection

72,659

203,812

580,038

2028 Household Projection

31,587

81,002

211,868

Annual Growth 2010-2023

0.60%

0.90%

1.00%

Annual Growth 2010-2023

1.10%

1.40%

1.30%

Annual Growth 2023-2028

0.10%

0.30%

0.30%

Annual Growth 2023-2028

0.10%

0.40%

0.30%

Median Age

38.1

38.4

36.9

Owner Occupied

14,163

50,547

144,278

Bachelor's Degree or Higher

39%

44%

32%

Renter Occupied

17,423

30,456

67,589

U.S. Armed Forces

180

351

697

Avg Household Size

2.2

2.5

2.7

Avg Household Vehicles

2

2

2

Total Consumer Spending

$921.7M

$2.8B

$7.2B

Population by Race White

54,352

155,556

458,858

Black

7,422

16,658

50,163

American Indian/Alaskan Native

609

1,329

4,668

Avg Household Income

$90,548

$113,145

$105,600

Asian

7,800

21,282

43,820

Median Household Income

$65,630

$89,344

$83,097

Hawaiian & Pacific Islander

109

236

732

< $25,000

4,594

8,138

25,161

Two or More Races

2,026

5,451

12,817

$25,000 - 50,000

7,099

12,912

35,306

Hispanic Origin

18,810

43,548

189,318

$50,000 - 75,000

6,079

13,611

35,320

$75,000 - 100,000

3,598

8,953

25,811

Housing

Income

Median Home Value

$227,367

$253,568

$225,179

$100,000 - 125,000

3,204

10,649

25,984

Median Year Built

1985

1990

1989

$125,000 - 150,000

2,112

6,538

17,817

$150,000 - 200,000

2,202

8,503

20,968

$200,000+

2,576

10,292

21,927

Demographic data © CoStar 2023

MARKET OVERVIEW

17

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.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Regulated by the Texas Real Estate Commission

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

exclusively listed 469.844.8880

STRIVERE.COM