Post on 12-Aug-2020
$1,750,000
*8.17% Cap Rate
*9.91% Cash/Cash
*13.16% Actual
*Pro Forma
CREEKSIDE BUSINESS CENTER, WOODLANDS, TX
Offering Memorandum
Confidentiality and DisclaimerThe 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. Marcus & Millichap is a service mark of Marcus &
Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
Non-Endorsement NoticeMarcus & 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.
MAGNOLIA NNN INVESTMENT
Magnolia, TX
ACT ID Y0860199
3
CREEKSIDE BUSINESS CENTER
Offering Memorandum
David B. Fisher, CCIMOpportunity Investments
D. (832) 442-2828C. (936) 320-3737
david.fisher@marcusmillichap.comLicense TX: 691654
1450 Lake Robbins Drive, Suite 300The Woodlands, TX 77380
ID: Z0860074
4
INVESTMENT SUMMARY…Investment Overview
Investment Highlights
Site Plan
Surrounding Retail
Property Photos
FINANCIAL ANALYSIS…Rent Roll
Operating Statement
MARKET COMPARABLES…
Sales Comparables
MARKET OVERVIEW…Market Analysis
Demographic Analysis
TABLE OF CONTENTS
CREEKSIDE BUSINESS CENTER
5,000 SF| GROSS LEASABLE AREA |
0607
11
12
14
17
1920
21
22
23
25
27
29
MAJOR EMPLOYERS
EMPLOYER# OF
EMPLOYEES *
Country Fresh LLC 500
Texas Childrens Hospital 492
Lincoln Manufacturing 350
Walmart 350
Kroger 326
H E Butt Grocery Company 294
Club At Carlton Woods 200
Unive of TX M D Anderson Can
200
Cude Oilfield Contractors Inc
150
Home Depot The 150
John Cooper School 150
Zoes Kitchen Inc 116
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2016 Estimate Pop 2,562 46,800 88,750
2016 Census Pop 2,041 37,986 73,954
2016 Estimate HH 823 14,460 29,371
2016 Census HH 661 11,782 24,512
Median HH Income $96,094 $112,590 $115,913
Per Capita Income $44,632 $45,482 $50,551
Average HH Income $138,843 $147,175 $152,718
* # of Employees based on 5 mile radius
INVESTMENT SUMMARY
6
CREEKSIDE BUSINESS CENTER
Price $1,750,000
Net Operating Income – Current $67,207
Net Operating Income – Pro Forma $147,551
Capitalization Rate – Current 3.84%
Capitalization Rate – Pro Forma 8.43%
Price/SF $350
Rentable Offices 18
Rent/SF $3.86
Lease Type Annual / Month to Month
Gross Leasable Area 5,000
Number of Condominium Units 4 (B100, B200, B300 & B400)
Year Built 2014
Common Lot Size 3.56 Acres
OFFERING SUMMARY
OFFERING SUMMARY
CHARLOTTE NNN
INVESTMENT OVERVIEW
CHEVRON C-STORE SAM HOUSTON PKWY
OVERVIEW
Marcus & Millichap has been retained on an exclusive basis and is pleased to present theopportunity to acquire a combined real estate investment and business opportunity knownas Creekside Business Center located a 25420 Kuykendahl Rd. Tomball, TX. (“Property”.)Constructed in 2014, the investment is part of an office condominium development knownas The Preserve Office Park and is located on a 3.56 acre site. The real estate includes fourcontiguous condominium units (B100, B200, B300 and B400) at 1,250 SF each.
The property was acquired in shell condition by the current owners who (as family andfriends) developed the Creekside Business Center (CBC). CBC provides flexible officesolutions for the independent business person or start-up company needing incubatorspace at affordable rates. Individual office suites include WiFi, unique phone numbers, andreceptionist. CBC also offers Virtual office programs with a prestigious Woodlands address(see brochure page 13.)
The owners spared no expense in branding the CBC image. The interior space features highprofile design, modern amenities and top of the line fixtures such as crown molding,etched glass for the conference rooms, kitchen facility and much more.
The opportunity as presented herein is the result of the primary investors deciding to retirewith the other ownership interests (sons and friends) deciding to venture out with theirown business pursuits. As a result, CBC as a business has languished, with no promotion,marketing or management ---a truly rare opportunity for the right suitor.
The ideal candidate would be someone in a 1031 exchange, appreciate the benefits ofowning a small established business that could generate a return on their investment far inexcess of 8% as shown here. Additionally, acquiring the real estate could meet theexchange requirements of the potential investor.
- 7 -
OFFERING SUMMARY
CHARLOTTE NNN
INVESTMENT OVERVIEW
CHEVRON C-STORE SAM HOUSTON PKWY
OVERVIEW
The investment provides two unique options for the new owner: The investment can besplit in two with the Center being run as a separate business-based enterprise where theowner executes a separate lease (to itself) wherein the real estate now becomes a netleased asset. The owner would then have the option to keep both investments (the Centerand the Net-leased real estate) as separate investments or stabilize the Center and sell it asa going business concern with an underlying long-term lease, or sell the real estate as anet-leased real estate asset and keep the Center. Either way, the numbers work!
Net-Leased real estate investments are highly sought after assets to have as alternativeinvestments. The opportunity being presented here gives a new owner the ability tostructure a sale lease/back which is significant added value for the savvy investor. The 5%vacancy factored into the financial analysis could also be absorbed by the new owner ashis/her office essentially for free.
Absolute net leased assets are a passive type of real estate investment and provide theowner with 100% of expenses being reimbursed to the landlord. Tomball is located inHarris County, and is considered a sub-market of The Woodlands, TX, which is one of themost sought-after markets within the Houston, Texas metroplex area. The property is5,000 SF and consists of four adjoining parcels in an office condominium complex knownas The Preserve Office Park. The Office Park is located on 3.56 acres of landscaped sharedparking which fronts on Kuykendahl Rd. with over 12,000 autos per day passing by the site.The property is directly accessible off Kuykendahl Rd. which is a primary access road andthere are two additional ingress and egress points to the property located on PreserveWay, the site’s ancillary side road.
- 8 -
OFFERING SUMMARY
CHARLOTTE NNN
INVESTMENT OVERVIEW
CHEVRON C-STORE SAM HOUSTON PKWY
OVERVIEW
While the four units are listed as four separate condominiums, they have been combinedto form a seamless interior for the Creekside Business Center. The Center was designedwith high-end interior finishes, crown moldings, frosted glass conference room enclosurewith costly high-speed internet communication systems for the benefit of 18 suites.
The Center is a complete turnkey ready business operation, with a large conferenceroom, kitchen area, lounge and is currently 73% occupied under 1-years lease terms thatrevert to month to month thereafter which is typical for service center type leases.Interior improvements are estimated to cost in excess of $500,000.
The property is surrounded by a mix of retail power centers, regional and local stripcenters, office and a 5-mile population base of 88,750 residing in upper incomeresidential neighborhoods. The subject property is surrounded by many destination-point retail drivers such as WalMart, Aldis, Icon Bank of Texas, Woodforest bank andmore.
There is a high demand for office/retail flex suites which the property can accommodate,and the many service center users seeking this unique space within the Tomball -Woodlands area bodes well for continued inflationary pressure on rent rates.
- 9 -
OFFERING SUMMARY
CHARLOTTE NNN
INVESTMENT OVERVIEW
CHEVRON C-STORE SAM HOUSTON PKWY
TAILORD FOR ALL NEEDS
o A fully serviced secure, private office for you and your team. Idealboth as a temporary office solution or for a more permanent office.
o Great as a day office, part-time office, or long term available.
o Staffed reception to greet guests, handle mail, answer calls andhelp with admin tasks.
o Communal kitchen with tea and coffee making facilities.
o Use a shared meeting room by the hour.
o All office cleaning and maintenance included.
o Modern, ergonomic office furniture.
o Access to a printer, scanner and photocopier.
o Use of business lounges and break out areas.
o Phone handsets and lines.
o All utility costs included.
- 10 -
#
INVESTMENT HIGHLIGHTS
▪ 8.17% CAP RATE YEAR-2 !
▪ INTERIOR HIGH PROFILE DESIGN @$500k TI’s
▪ HIGH QUALITY NEW CONSTRUCTION
▪ EXPANSIVE NATURAL LIGHT
▪ MINIMAL MANAGEMENT
▪ VERY DESIRABLE WOODLANDS AREA LOCATION
▪ BOOMING DEVELOPMENT AREA
▪ FIBER HIGH-SPEED INTERNET
▪ TURN KEY OPERATION
▪ INCLUDES FURNITURE, FIXTURES & EQUIPMENT
INVESTMENT | HIGHLIGHTS
11
CREEKSIDE BUSINESS CENTER
SITE PLAN
The property is ideally located on Kuykendahl Rd., one of The Woodlands primary transportation arteries which generate in excess of 11,000autos per day. Located in Tomball, TX which borders The Woodlands, a general planned community with above average household income andone of the most sought after neighborhoods within the Houston Metroplex area with a population base in excess of 88,000 that live within a 5-mile radius of the site.
12
CREEKSIDE BUSINESS CENTER
SUBJECT
SITE PLAN
13
CREEKSIDE BUSINESS CENTER
LEASED
CLOSE PROXIMITY TO:
25420 Kuykendahl Rd. – The Preserve Office Park - Tomball, TX 77375
▪ NEW CONSTRUCTION - ENERGY
EFFICIENT
▪ STATE OF THE ART TRANE HVAC
▪ 176 PARKING SPACES - OPEN
▪ HIGH-TECH NEST THREMOSTATS
▪ ABUNDANT NATURAL LIGHTING
▪ CONTEMORARY DESIGN
The design and construction of the property
allows for flexibility i.e., office, medical and
service-retail which makes it a highly
desirable asset to acquire due to the wide
variety of users that it can accommodate.
LOCATION OVERVIEW
Subject .25 Mile
14
CREEKSIDE BUSINESS CENTER
CBC BROCHURE
15
CREEKSIDE BUSINESS CENTER
CBC BROCHURE
16
CREEKSIDE BUSINESS CENTER
PROPERTY PHOTOS
17
CREEKSIDE BUSINESS CENTER
PROPERTY PHOTOS
18
CREEKSIDE BUSINESS CENTER
FINANCIAL ANALYSIS
19
CREEKSIDE BUSINESS CENTER
Summary Operating Data
Price $1,750,000
Down
Payment$700,000 Income Current Pro Forma
Down Payment % 40% Scheduled Base Rental Income $140,400 $216,600
Number of Suites 18 Total Reimbursement Income 0.0% $0 0.0% $0
Price Per SqFt $0.00 Other Income $0 $0
Total Gross
SF0 SF Potential Gross Revenue $140,400 $216,600
Lot Size 3.56 Acres General Vacancy 0.0% $0 0.0% $0
Year Built/Renovated 2014 Effective Gross Revenue $140,400 $216,600
Occupancy Less: Operating Expenses 52.1% ($73,193) 34.0% ($73,560)
Net Operating Income $67,207 $143,040
Returns Current Pro Forma Tenant Improvements $0 $0
CAP Rate 3.84% 8.17% Leasing Commissions $0 $0
Cash-on-
Cash-0.92% 9.91% Capital Expenditures $0 $0
Debt Coverage Ratio 0.91 1.94 Cash Flow $67,207 $143,040
Debt Service ($73,658) ($73,658)
Net Cash Flow After Debt Service -0.92% ($6,451) 9.91% $69,382
Financing 1st Loan Principal Reduction $21,650 $22,758
Loan Amount $1,050,000 Total Return 2.17% $15,199 13.16% $92,140
Loan Type New
Interest Rate 5.00% Operating Expenses Current Pro Forma
Amortization 25 Years CAM $36,671 $37,038
Year Due 2043 Insurance $0 $0
Loan information is subject to change. Contact your Marcus & Millichap Capital Corporation
representative.Real Estate Taxes $32,712 $32,712
Management Fee $3,810 $3,810
Other Expenses - Non Reimbursable $0 $0
Total Expenses $73,193 $73,560
Expenses/Suite $4,066 $4,087
Expenses/SF $0.00 $0.00
RENT ROLL
20
CREEKSIDE BUSINESS CENTER
Tenant Name Suite Feet Share Comm. Sq. Ft. Per Month Per Year Per Year on Type
EVM Energy 101 0 0.0% $0.00 $1,050 $12,600 $14,400 Apr-2019 $1,200 Gross
WFL Millturn Tech 102 0 0.0% MM $0.00 $750 $9,000 $9,000 Apr-2019 $1,200 Gross
Dtsal LLC 103 0 0.0% MM $0.00 $700 $8,400 $8,400 Apr-2019 $1,250 Gross
Mi Devolucion LLC 104 0 0.0% MM $0.00 $850 $10,200 $10,200 Apr-2019 $1,100 Gross
Vacant 105 0 0.0% $0.00 $0 $0 $7,200 N/A $600 Gross
Vacant 106 0 0.0% $0.00 $0 $0 $13,200 N/A $1,100 Gross
Studio G 107 0 0.0% MM $0.00 $600 $7,200 $9,600 Apr-2019 $800 Gross
Nuarc Pools 108 0 0.0% MM $0.00 $1,000 $12,000 $13,200 Apr-2019 $1,100 Gross
Jorman 109 0 0.0% MM $0.00 $600 $7,200 $10,800 Apr-2019 $900 Gross
Jorman 110 0 0.0% MM $0.00 $600 $7,200 $10,800 Apr-2019 $900 Gross
Grupo Gin 111 0 0.0% MM $0.00 $1,100 $13,200 $13,800 Apr-2019 $1,150 Gross
Vacant 112 0 0.0% $0.00 $0 $0 $13,800 N/A $1,150 Gross
Studio G 114 0 0.0% MM $0.00 $650 $7,800 $10,200 Apr-2019 $850 Gross
Immunotec 115 0 0.0% MM $0.00 $760 $9,120 $13,200 Apr-2019 $1,100 Gross
Immunotec 116 0 0.0% MM $0.00 $760 $9,120 $15,000 Apr-2019 $1,250 Gross
Immunotec 117 0 0.0% MM $0.00 $760 $9,120 $14,400 Apr-2019 $1,200 Gross
Immunotec 118 0 0.0% MM $0.00 $760 $9,120 $14,400 Apr-2019 $1,200 Gross
Immunotec 119 0 0.0% MM $0.00 $760 $9,120 $15,000 Apr-2019 $1,250 Gross
Total 0 $0.00 $11,700 $140,400 $216,600
% Annual Actual Pro Forma
Square Bldg Lease Dates Rent per Total Rent Total Rent Rent Changes Rent Increase Lease
FINANCIAL ANALYSIS
OPERATING STATEMENT
21
CREEKSIDE BUSINESS CENTER
Growth Rates:
Current Pro Forma
1.0% 1.0%
Expenses In Place Current Pro Forma
*Energy $7,200 $7,272 $7,345
*Vonage $3,048 $3,078 $3,109
*Comcast $2,400 $2,424 $2,448
*Accounting $2,400 $2,424 $2,448
Cleaning $7,200 $7,272 $7,345
Other Misc $3,500 $3,535 $3,570
Repairs & Maintenance $10,560 $10,666 $10,772
Real Estate
Taxes$32,712 $32,712 $32,712
Management
Fee$3,810 $3,810 $3,810
Total Expenses $72,830 $73,193 $73,560
NOTES
Notes to Operating Statement
[1] Current rents are far below market for similar type use i.e., REGUS etc. Ihave based pro forma on 18th stabilization.
[2]
I have not added the various revenue streems that are common among businesses such as Creekside Business Center such as, virtual office
leasing where the use is mail drop only, or mail & phone programs (Business Identity).
There are certain similar business ID uses that generate $100 per mth per user. At 120 users just for the ID setup could generate an additional
$144,000 per year in net revenue.
a. There are many ways to generate additional revenue streams through the CBC business platform that have not been factored into the
pricing and should be viewed as an add-value component.
MARKET
COMPARABLES
TOMBALL – WOODLANDS
22
CREEKSIDE BUSINESS CENTER
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
SALES COMPARABLES IN ESCROW COMPARABLES
SUBJECT PROPERTY
Asking Price $1,750,000
Price/SF $350.00
CAP Rate (3.84% Current) 8.17% Pro Forma
GLA 5,000 SF
Lot Size 3.56 acre(s)
Year Built 2014
Lease Term Remaining Owner/User
CREEKSIDE BUSINESS CENTER25420 Kuykendahl Rd. Tomball, TX 77375
1
Close Of Escrow 5/31/2017
Sales Price $800,000
Price/SF $320.00
GLA 2,500 SF
Year Built 1994
4114 Avenue HRosenberg, TX 77471
2
NOTES
Sale / Leaseback
Close Of Escrow 3/1/2017
Days On Market 93
Sales Price $1,650,000
Price/SF $343.75
GLA 4,800 SF
Year Built 1984
1500 Bingle Rd.Houston, TX 77055
SALES COMPARABLES
23
CREEKSIDE BUSINESS CENTER
rentpropertyaddress1 rentpropertyaddress1 rentpropertyaddress1
SALES COMPARABLES IN ESCROW COMPARABLES
3
NOTES
Part of a portfolio sale.
Close Of Escrow 3/21/2018
Sales Price $1,900,000
Price/SF $441.86
GLA 4,300 SF
Year Built 1995
1120 Dennis St.Houston, TX 77004
4
NOTES
Mixed use retail/office condo.
Close Of Escrow 12/19/2017
List Price $1,670,000
Price/SF $354.56
GLA 4,710 SF
Year Built 2017
4750 Fairmont PkyPasadena, TX 77504
SALES COMPARABLES
24
CREEKSIDE BUSINESS CENTER
4
NOTES
Mixed use retail/office condo.
Close Of Escrow
List Price $1,875,,000
Price/SF $312.50
GLA 6,000 SF
Year Built 2005
25219 KUYKENDAHL RD25219 Kuykendahl Rd, Tomball, TX, 77375
25
MARKET
OVERVIEW
MARKET OVERVIEW
25
CREEKSIDE BUSINESS CENTER
MARKET OVERVIEW
HOUSTONOVERVIEW
The Houston metro is located in southeastern Texas and composed of
nine counties: Harris, Galveston, Brazoria, Fort Bend, Chambers,
Montgomery, Austin, Liberty and Waller. The Gulf of Mexico, which
borders the metro to the southeast, provides access to markets around
the world via the Port of Houston, making it a prime location for exports.
As local industries have diversified from oil to technology and
healthcare, population growth has sprawled, primarily to the north and
west, sustaining Houston’s position as the fifth-most populated metro in
the nation with more than 6.7 million residents. The city of Houston is
home to nearly 2.3 million residents.
METRO HIGHLIGHTS
CORPORATE GROWTH
Houston will remain a top destination for corporate
relocations due to its business-friendly environment.
Twenty-four Fortune 500 companies are
headquartered in the metro.
HIGHER EDUCATION
Over 40 post-secondary educational institutions are
located in the metro. Nearly 30 percent of residents
have attained a bachelor’s degree, with 10 percent
also holding a graduate or professional degree.
LOW COST OF LIVING, DOING BUSINESS
Houston has a lower cost of living than many major
metros, no state income tax and a median home
price below the national level.
MARKET OVERVIEW
26
CREEKSIDE BUSINESS CENTER
ECONOMY▪ The economy is diversifying to include biotechnology, distribution, nanotechnology and
logistics; the metro is the center of the energy production with roughly 260,000 workers.
▪ Local product manufacturing is a large segment of the economy and includes paper,
electrical and electronic machinery, iron, steel and petrochemicals.
▪ Healthcare is gaining economic prominence. Specialized medical education and training
institutions boost the local economy and supply a growing hospital system.
▪ The Port of Houston is one of the country’s busiest for exports, supplying thousands of jobs
and generating billions of dollars in revenue.
SHARE OF 2016 TOTAL EMPLOYMENT
MAJOR AREA EMPLOYERS
Memorial Hermann Healthcare System
University of Texas
The Kroger Co.
ExxonMobil Corp.
Shell Oil Co.
Methodist Hospital System
United Continental Holdings
Baker Hughes Inc.
St. Luke’s Episcopal Health System
Hewlett-Packard* Forecast
MANUFACTURING
8%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
OTHER SERVICES AND MINING
+NATURAL RESOURCES
3%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
21%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
5%INFORMATION AND
15%
7%
13% 11% 5%
13%
27
MARKET ANALYSIS
27
CREEKSIDE BUSINESS CENTER
MARKET OVERVIEW
DEMOGRAPHICS
▪ The Houston metro is expected to add more than 500,000 people through 2021 and
roughly 88,000 of these residents will be millennials in the 20- to 34-year-old cohort.
▪ During the same period, nearly 190,100 households will be formed, generating
demand for housing.
▪ The homeownership rate of 62 percent is below the national rate of 64 percent. The
median home price of $222,100 is also below that the U.S.
Outdoor activities abound in Houston as a result of the city’s favorable location and climate.
More than a dozen state parks and recreation areas lie within a short drive of Houston, as
well as more than 500 parks and open spaces, along with various cultural venues and
museums. Johnson Space Center is a popular tourist and educational destination. The
metro is also known internationally for its medical community and is home to the Texas
Medical Center, the largest of its kind in the world. Houston is home to four professional
sports teams: the Houston Texans, the Houston Astros, the Houston Rockets and the
Houston Dynamo.
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
33.9
2016MEDIAN AGE:
U.S. Median:
37.7
$59,700
2016 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$54,500
6.7M
2016POPULATION:
Growth2016-2021*:
7.8%
2.3M
2016HOUSEHOLDS:
8.1%
Growth2016-2021*:
QUALITY OF LIFE
2016 Population by Age
0-4 YEARS
8%5-19 YEARS
22%20-24 YEARS
7%25-44 YEARS
29%45-64 YEARS
24%65+ YEARS
10%
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
28
MARKET ANALYSIS
28
CREEKSIDE BUSINESS CENTER
CREATED ON SEPTEMBER 6, 2017
1 Miles 3 Miles 5 Miles
POPULATION
2021 Projection 3,152 57,145 103,853
2016 Estimate 2,562 46,800 88,750
2010 Census 2,041 37,986 73,954
2000 Census 784 11,842 37,779
INCOME
Average $138,843 $147,175 $152,718
Median $96,094 $112,590 $115,913
Per Capita $44,632 $45,482 $50,551
HOUSEHOLDS
2021 Projection 1,011 17,662 34,409
2016 Estimate 823 14,460 29,371
2010 Census 661 11,782 24,512
2000 Census 260 3,750 11,945
HOUSING
2016 $306,919 $328,640 $315,124
EMPLOYMENT2016 Daytime Population
1,696 30,332 71,143
2016 Unemployment 4.63% 4.07% 3.44%
2016 Median Time Traveled
37 40 38
RACE & ETHNICITY
White 89.96% 85.38% 86.56%
Native American 0.20% 0.18% 0.13%
African American 2.10% 2.35% 2.10%
Asian/Pacific Islander
1.78% 5.53% 5.16%
DEMOGRAPHICS
29
CREEKSIDE BUSINESS CENTER
TEXAS BROKERAGE | SERVICES FORM
INFORMATION ABOUT BROKERAGE SERVICESTexas 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 the 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;
Information available at www.trec.texas.govRegulated by the Texas Real Estate Commission
IABS 1-0
Marcus & Millichap 9002994 tim.speck@marcusmillichap.com 972-755-5200Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Tim A. Speck 432723 tim.speck@marcusmillichap.com 972-755-5200Designated Broker of Firm License No. Email Phone
David Luther 599555 david.luther@marcusmillichap.com 713-452-4200Licensed Supervisor of Sales Agent/Associate License No. Email Phone
David Fisher 691654 david.fisher@marcusmillichap.com 832-442-2828Sales Agent/Associate’s Name
_________________________________________________Sales Agent/Associate/s Name
License No.
__________________License No.
_________________________________________Email
Phone
____________________Phone
▪ 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:• that the owner will accept a price less than the written asking price;• that the buyer/tenant will pay a price greater than the price submitted in a written offer; and• 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 subagentcan 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.
____________/____________/____________/____________ __________Buyer / Tenant / Seller / Landlord Initials Date