Download absolute net leased commerical building

DALLAS MS A
ABSOLUTE NET LEASED
COMMERICAL BUILDING
201 W KAUFMAN STREET, RICHARDSON, TEXAS 75081
FUTURE BUILDING REMODEL RENDERING |
HIGHWAY 75 VISIBILITY; 250,000 CARS PER DAY
NEW 20 YEAR ABSOLUTE NNN LEASE
net leased disclaimer
Marcus & Millichap 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, Marcus & Millichap has
not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap
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. Marcus &
Millichap 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 Marcus & Millichap Real Estate Investment Services 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.
REAL ESTATE INVESTMENT SALES | FINANCING | RESEARCH | ADVISORY SERVICES
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. © 2015 Marcus & Millichap. All rights reserved.
02
investment overview
address |
201 West Kaufman, Richardson, TX 75081
CLick
ME!
Purchase Price: $1,950,000
Options: (4) 5 Year Options
Cap Rate: 7.75%
Guarantor:
Soffitec, Inc | Personal
Net Operating Income: $151,125
Rentable Square Feet: 9,864 Sq Ft
Price Per Square Foot:
$197.69 Sq Ft.
Lease Commencement Date:
9/1/2015 Lease Expiration Date: 8/31/2035
Lot Size
Lease Type: Absolute Net
Year Built:
.66 Acres
1980/2015
Increases:10% Rental Increases
Every 5 Years
* Soffitec financials will be made available upon executed LOI.
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. © 2015 Marcus & Millichap. All rights reserved.
03
investment overview
overview |
Marcus & Millichap is pleased to offer this sale leaseback
asset that will include a new, 20-year absolute net lease
with 10 percent rental increases and four, five year options
to renew with the same 10 percent increases. The tenant
is an established accounting firm that has worked in and
around the Dallas market for more than 20 years. The
property is well positioned in an affluent neighborhood
directly off of Highway 75 with traffic counts exceeding
250,000 vehicles per day. Nearby retailers include
Firestone, Chase Bank, T.J. Maxx, Chevron and 7-Eleven,
Payless Shoes, McDonald’s and Jack In The Box. The
tenant is currently remodeling the property and the
outside will look similar to Frank Lloyd Wright architecture
when finished.
FUTURE BUILDING REMODEL RENDERING |
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. © 2015 Marcus & Millichap. All rights reserved.
04
investment overview
investment highlights
ABSOLUTE
NET
COMPLETE
New 20-Year Absolute Net Lease. No
Landlord Responsibilities Whatsoever.
EXTREMELY
DENSE TRAFFIC
R EMO D E L
Property is Undergoing a Complete Remodel.
Sale Leaseback Transaction to help Fund Part
of the Remodel.
AREA
DALLAS/FT WORTH
MSA
Nearby Traffic Counts on Highway 75 exceeds
250,000 Vehicles Per Day.
Located Just 15 Miles North of Dallas and Included
in the Dallas / Ft. Worth MSA, the Largest MSA in
the South with a Population that Exceeds 6.5 Million
People.
ST R ONG
EXCELLENT
RENTAL INCREASES
10 Percent Rent Increases Every Five
Years and in Option Periods.
E ST A B L I S H E D
TENANT
Lease is with Soffitec, Inc., an Accounting
Firm with Successful Operations of More
than 20 Years.
VISIBILIT Y
Located just off of Highway 75, South Central
Expressway Travelling Directly into Dallas to
the South.
AFFLUENT
NEIGHBORHOOD
Average Household Incomes Within Five Miles
of the Property Exceed $83,000 per Year.
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. © 2015 Marcus & Millichap. All rights reserved.
05
floor plan
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. © 2015 Marcus & Millichap. All rights reserved.
06
rent roll
A BSOLUTE NET;
10% RENTAL
INCREASES
TENANT INFO
TENANT
NAME
Soffitec, Inc.
SIZE
9,864
LEASE TERMS
COMMENCEMENT
DATE
9/01/2015
LEASE
EXPIRATION
8/31/2035
CURRENT RENT
ANNUAL BASE
RENT
$151,125
RENT/SF/YR
$15.32
RENT INCREASES
DATE
ANNUALLY
9/01/2020
9/01/2025
9/01/2030
9/01/2035 (Option 1)
9/01/2040 (Option 2)
9/01/2045 (Option 3)
9/01/2050 (Option 4)
$166,237
$182,861
$201,147
$221,262
$243,388
$267,727
$294,500
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. © 2015 Marcus & Millichap. All rights reserved.
OPTIONS
OTHER
LEASE
TYPE
(4) 5 Yr
Absolute
NNN
07
traffic counts
N
w
E
*CoStar
2012
251,335 - South Central Expressway
2012
33,217 - East Main Street
201 w. kaufman street, richardson, texas, 75081 |
ent
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Chapman, hext & Co, P.C.
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. © 2015 Marcus & Millichap. All rights reserved.
08
area maps
location
U.S. Highway 75 (North Central Expressway) bisects
Richardson, Texas from south to north, and reports daily
t r a f f i c c o u n t s a t o v e r 250, 000 v e h i c l e s . T e x a s S t a t e
Highway 190 (President George Bush Turnpike) borders
the north and Interstate 635 (Lyndon B. Johnson Freeway)
borders the south. The city has more Dallas Area Rapid
Transit (DART) rail stations than any other Dallas area
suburb. The four stations are strategically located for
commuters working and residing in close proximity to the
Telecom Corridor area.
SOFFITEC, INC
201 W KAUFMAN STREET
TULSA
NASHVILLE
OKLAHOMA CITY
MEMPHIS
ALBUQUERQUE
NEW, MEXICO
LITTLE ROCK
LUBBOCK
BIRMINGHAM
DALLAS
FORT WORTH
SHREVEPORT
JACKSON
NEW ORLEANS
AUSTIN
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. © 2015 Marcus & Millichap. All rights reserved.
HOUSTON
SAN ANTONIO
HOUSTON
09
major employers |
demographics
Click On Business Name
To Learn More
employees
*Sourced from MapNet, Marcus & Millichap
E isemann C enter
for
P erforming A rts
R ichardson , T exas
Air Liquide Electronics US LP
42,300
Texas Instruments Incorporated
32,209
Richardson Ind Schl Dst
4,500
Medsynergies North Texas Inc
3,300
Dynacare Laboratories Inc
3,000
Monarch Dental Corp
1,800
Trailblazer Health Entps LLC
1,200
Vce Company LLC
1,000
City of Richardson
900
Restland Funeral Home Inc
819
5 MILES
household INCOMES 2014 |
1 Miles
3 Miles
5 Miles
AVERAGE
$70,477
$73,785
$83,406
MEDIAN
$56,355
$50,016
$52,891
3 MILES
1 MILES
population |
1 Miles
3 Miles
5 Miles
2010
9,879
134,131
350,833
2014
10,785
140,799
369,588
2019
10,806
140,753
374,135
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. © 2015 Marcus & Millichap. All rights reserved.
RICHARDSON
SOFFITEC, INC
201 W KAUFMAN STREET
10
area overview
r i c ha rdson
T E X A S
Spanning 28 square miles and nestled just 15 miles north
of downtown Dallas, Richardson is located within minutes
of all the amenities of Dallas Fort Worth. The City of
Richardson has been recognized for its economic stability
and strong fiscal management by credit rating agencies,
with both Standard and Poor’s and Moody’s giving the city
their highest ratings.
Known nationally as the Telecom Corridor®, which is home
to over 500 high tech and telecommunications companies,
today, Richardson has also found its place as a sophisticated,
modern suburb featuring award winning family festivals,
nationally ranked championship golf courses, 30 beautiful
parks, more than 40 miles of hike and bike trails and the
Charles W. Eisemann Center for the Performing Arts.
while still offering the appeal, advantages and entertainment
of the D/FW Metroplex. A ride on the Dallas Area Rapid
Transit system (DART), which runs through the heart of the
city, makes it easy for visitors to take in the sights or to
step out of the city to one of the many surrounding points
of interest such as sporting arenas, shopping malls and
museums. Plus, Richardson is just a few minutes drive from
DFW International and Love Field airports and has easy
access to major highways and thoroughfares.
The Dallas Area Rapid Transit (DART) started construction
on three light rail stations for the city in the late 1990s, and
they now have four DART stations in Richardson, along
US 75 at Spring Valley, Arapaho, Galatyn Park, and the
President George Bush Turnpike (190).
Richardson has the benefit of being able to offer one-on-one,
small-town customer service and warm Texas hospitality,
Bishops Arts District, Dallas, Texas |
AT&T Stadium, Arlington, Texas |
Dallas Arboretum and Botanical Gardens, Dallas, Texas |
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. © 2015 Marcus & Millichap. All rights reserved.
11
Historic ‘Old Red Courthouse’ - Dallas, Texas
confidentiality disclaimer
The information contained in this 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, PCBs 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.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
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. © 2015 Marcus & Millichap. All rights reserved.
12
Downtown Dallas, Texas |
CONTACT
Joseph P. Blatner
V ice P resident of I nvestments
[email protected]
503.200.2029
Timothy Speck
B roker
of
R ecord - D allas , T exas
www.NetLeasedRetail.com
www.MarcusMillichap.com