Western Village @ Waterview Town Center - Richmond, TX

PROJECTED INCOME & EXPENSES

BUDGET PSF

Base Rent - Occupied Space $469,170 $34.59

GROSS POTENTIAL RENT $469,170 $34.59

Expense Reimbursements

Real Estate Tax Recoveries $78,324 $5.77

Insurance Recoveries $11,089 $0.82

CAM Recoveries $65,294 $4.81

Management Recoveries $26,000 $1.92

Total Expense Reimbursements $180,707 $13.32

EFFECTIVE GROSS REVENUE $649,877 $47.92

Operating Expenses

Total Real Estate Taxes ($78,324) ($5.77)

Total Insurance ($11,089) ($0.82)

Total CAM ($65,294) ($4.81)

Management Fee 4.00% ($26,000) ($1.92)

Total Recoverable Expenses ($180,707) ($13.32)

Net Operating Income $469,170 $34.59

EXPENSES

BUDGET PSF

Real Estate Taxes

$78,324 $5.77

Insurance $11,089 $0.82

CAM Electricity $2,400 $0.18

Water & Sewer $6,000 $0.44 Irrigation $1,800 $0.13 Landscaping $24,130 $1.78

Trash Service $11,640 $0.86

Parking Lot Sweeping $4,224 $0.31

Pressure Washing $1,200 $0.09

Porter Service $2,700 $0.20

Fire Alarm $1,960 $0.14 Repairs & Maintenance $8,400 $0.62

Pest Control $240 $0.02

Supplies & Services $600 $0.04

Total CAM $65,294 $4.18

Management Fee 4.00% $26,000 $1.92

Total Expenses $180,707 $13.32

For Financing Options, Please Contact:

Greg Holley | Managing Partner

High St Capital (O) 469-998-7200 | (C) 714.514.2990 gholley@highstcapital.com

Suite Tenant

SQ FT % of SQFT Start End Annual Rent PSF Escalation Date Escalation Amount Options Lease Type

E100 Piada 2500 18.43% 4/1/2023 3/31/2033 $105,000 $42.00 4/1/2028 $46.20 3 x 5 NNN

E200 Aloha Poke 1600 11.80% 5/1/2023 4/30/2033 $54,400 $34.00 5/1/2024 $35.02 2 x 5 NNN

E300 Cinnaholic** 1156 8.52% 9/27/2023 1/31/2034 $41,038 $35.50 2/1/2028 $39.05 1 x 5 NNN

E400 Pending Tenant 1153 8.50% 4/1/2023 3/30/2028 $40,355 $35.00 - - - NNN

E600 Onyx Nail Bar 3679 27.13% 12/1/2022 11/30/2032 $121,407 $33.00 12/1/2027 $35.00 2 x 5 NNN

E700 Tea-Amo Boba House 1360 10.03% 8/25/2022 10/31/2027 $43,520 $32.00 9/1/2024 $34.00 1 x 5 NNN

E800 Pho Bo To Grill* 2115 15.59% 10/24/2022 2/28/2033 $63,450 $30.00 11/1/2024 $32.00 2 x 5 NNN

Occupied 13,563 100.00% $469,170 $34.59 Vacant 0Total 13,563 100.00%

*The Start Dates for Piada, Aloha Poke, Cinnaholic and Pho Bo To Grill are Estimated Dates and may Differ from the Actual Start Dates.

**Cinnaholic has a four (4) month abated base rent period from Lease Commencement.

**Pho Bo To Grill has an abated base rent period until 2/1/23, and a 50% abated base rent period from 2/1/23 to 3/31/23.

Tenant Suite SQ FT

Base Rental Increases Renewal Options

Date PSF Options Date PSF

Piada* E100 2,500 4/1/2028 $46.20 3 x 5 2/1/2033 2/1/2038 2/1/2043

User Restrictions & Exclusive Rights Sales Reporting

$50.82 $55.90 $61.49

Exclusive dine-in, fast casual or delivery chain whose primary business will be the sale of piadas, pizza, or pasta dishes that originate from the country of Italy Yes, Quarterly

Aloha Poke* E200 1,600

5/1/2024 5/1/2025 5/1/2026 5/1/2027 5/1/2028 5/1/2029 5/1/2030 5/1/2031 5/1/2032

2 x 5 3/1/2033 3/1/2038 Annual 3% Increases Exclusive on Poke Style Meals a Primary Business (Up to 5% of Revenue) Yes, Annually

Cinnaholic* E300 1,156 2/1/2028 $39.05 1 x 5 2/1/2034 $42.95 -Pending Tenant E400 1,153 - - - - - - -

Onyx Nail Bar E600 3,679 12/1/2027 $35.00 2 x 5 11/1/2032 11/1/2037 $39.00 MKT

Tea-Amo Boba House & Sandwiches E700 1,360 9/1/2024 $34.00 1 x 5 11/1/2027 $37.40

Exclusive on Tenants whose primary business is the operation of nail salon that offers nail care services such as manicures, pedicures,

Yes, Annually

Exclusive on any dine-in restaurant, fast casual, or delivery chain whose primary business will be the sale of tea based drinks including Boba Tea Yes, Monthly

Pho Bo To Grill* E800 2,115 11/1/2024 11/1/2027 $32.00 $34.00 2 x 5 1/1/2023 1/1/2028 $37.40 MKT

Totals

Exclusive on Tenants whose primary business will be the Sale of Vietnamese beef noodle soup, sizzling steak, Banh Mi, or marinated meat on rice or noodles

*The Start Dates for Piada, Aloha Poke, Cinnaholic and Pho Bo To Grill are Estimated Dates and may Differ from the Actual Start Dates.

**Cinnaholic has a four (4) month abated base rent period from Lease Commencement.

**Pho Bo To Grill has an abated base rent period until 2/1/23, and a 50% abated base rent period from 2/1/23 to 3/31/23.

Yes, Annually

DBA Piada Italian Street Food Locations 49+ Locations

Public/Private Private

Line of Business When we opened our first Piada restaurant in 2010, we held true to what we learned — that every meal should be a great meal shared with family and friends — old and new. As you walk through our doors, we invite you to join in a meal with our family. One that’s been hand-crafted just for you by our chef. And to savor the Piada experience, knowing you can always eat well and enjoy good food fast.

DBA Aloha Poke Co Locations 19+ Locations

Public/Private Private Line of Business At Aloha Poke Co. our mission is to rethink fast food for the future, by providing delicious, beautifully healthy meals to fuel your day-to-day. We are dedicated to providing fast, fresh-packed and tasty bowls filled with sushi-grade fish and hawaiianinspired raw ingredients. The first Aloha Poke Co. location was a tiny, humble food stall in a Chicago train station. Now, we are spreading our wings from coast to coast!

DBA Onyx Nail Bar

Locations 5+ Locations

Public/Private Private

Line of Business At Onyx, we are specialize in therapeutic and refreshing nail care as well as eye lashes, waxing to anti-aging oxygen facials treatment with the best products in the industry. The Onyx luxury bar is the best place to catch all your games and explore an amazingly fresh and dynamic drink. With great and friendly bar tender every day, the Onyx bar that keeps things exciting while always staying familiar. With great and friendly bar tender every day.

• Brand New Long-Term NNN Leases

• Complementary Mix of National & Local Tenants that are Internet Resistant

• 2022 High Quality Construction

• Significant Built-In Revenue Growth – All Tenants have Rent Increases During the Primary Term of their Lease

• Excellent Positioning – Signalized Hard Corner of W Bellfort St and Waterview Meadow Dr. with VPD exceeding 18,000 Per Day

• Easy Access to Grand Parkway (99) – Waterview Meadow Dr. has direct access to the Grand Parkway less than ¼ mile from Western Center

• Fort Bend County: 4th Largest Population Gaining County in The Nation from July 1, 2020 to July 1, 2021. 5th in The Nation and 4th in Texas for Incoming Investment. 2nd in Texas and 5th in the U.S. for Purchasing Power. Home to Four (4) of the Nation’s Top 35 Best-Selling Master-Planned Communities

• Superior Demographics with an Average Household Income over $125,000 in a 3-Mile Radius - Almost 2x the National Average

• Nearby Major Attractions Include HEB, Target, new 3.7 million sf Amazon Distribution Center, LA Fitness, At Home, Echelon on 99 (256 units), The Waterview Apartments (295 units), Academy Sports + Outdoors, 7-Eleven, Chick Fil A, and many more

Piada AlohaCinnaholicPendingTenant Poke

TeaPhoBoToGrill Amo

OnyxNailSalon

Richmond, TX

OVERVIEW

Richmond, county seat of Fort Bend County in Texas, has a 2019 U.S. census estimated population of 12,578. The city is conveniently located at the center of Fort Bend County within the Houston-The Woodlands-Sugar Land metropolitan area, and it’s strategically positioned along U.S. Highway 59 and U.S. 90 Alternate.

Richmond was settled in 1837 as an outpost along the Brazos River. Over 180 years of history can be seen while strolling through Richmond's streets. Visitors will find unique shops, restaurants, and businesses that have helped to create a unique one-stop location for the Houston region. The city is the home of the beautifully renovated Fort Bend County Courthouse, Fort Bend Museum, Moore Home, Morton Cemetery, as well as the George Ranch Historical Park, Long Acres Ranch Nature Center and 134 historical landmarks. With over five miles of Brazos River frontage, Richmond offers a unique, historic setting, and is the cultural center of Fort Bend County, one of the fastest growing counties in the United States.

Businesses in Richmond benefit from a trained and talented workforce, major highway and rail access, and a prime destination less than 30 minutes from Houston's central business district and Texas Medical Center. Opportunities for new businesses in Richmond are plentiful. Over $6 million in untapped retail demand currently exists just within Richmond's 4.4 square mile city limits. Fort Bend County accounts for over 5% of the greater Houston region’s economy—roughly $26.7 billion. Fort Bend County is home to 13,000 businesses generating $40 billion in total sales annually (2017).

The area is fueled by manufacturing, construction, government, retail and wholesale trade, professional and technical services, and healthcare – which combined, comprise about two-thirds of the economy. The industries in Fort Bend County employ 208,000 people. The diverse composition of industries postures both Fort Bend County and Richmond for a strong and sustainable future of continued growth.

Houston, TX

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.

1 Mile 3 Mile 5 Mile

Population

2010 Population 3,283 46,380 157,368

2022 Population 6,855 85,884 217,756 2027 Population Projection 8,323 103,948 256,680

Annual Growth 2010-2022 9.10% 7.10% 3.20% Annual Growth 2022-2027 4.30% 4.20% 3.60%

Median Age 37.5 36.7 36.9 Bachelor's Degree or Higher 43% 44% 40%

U.S. Armed Forces 14 161 213

Population by Race

White 3,546 43,071 110,805 Black 1,789 22,703 49,470 American Indian/Alaskan Native 41 525 1,448 Asian 1,312 17,412 50,476 Hawaiian & Pacific Islander 4 55 178 Two or More Races 163 2,118 5,378 Hispanic Origin 1,679 21,916 61,050 Housing Median

Households:

1 Mile 3 Mile 5 Mile

2010 Households 982 14,685 47,369 2022 Households 2,135 27,386 66,973 2027 Household Projection 2,602 33,140 79,031

Annual Growth 2010-2022 9.50% 6.90% 3.20%

Annual Growth 2022-2027 4.40% 4.20% 3.60%

Owner Occupied 2,328 28,646 67,107

Renter Occupied 274 4,494 11,925

Avg Household Size 3.1 3.1 3.2

Avg Household Vehicles 2 2 2

Total Consumer Spending $87.7M $1.1B $2.6B

Income

Avg Household Income $127,778 $125,314 $116,735

Median Household Income $109,973 $107,000 $97,285

< $25,000 128 1,619 5,533

$25,000 - 50,000 201 3,056 9,695 $50,000 - 75,000 296 4,007 10,070 $75,000 - 100,000 291 3,705 9,185 $100,000 - 125,000 381 4,664 10,077

$125,000 - 150,000 211 2,722 5,581

$150,000 - 200,000 345 3,964 8,693

Demographic data © CoStar 2021

$200,000+ 283 3,649 8,138

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