BULL CREEK MARKET - LoopNet...Sherwin-Wil-liams is the largest coatings manufacturer in the United...

• Rare Austin Retail Center for Sale

• Located on the NEC of Capital of Texas Highway & FM 2222

• One of Austin’s highest income demographic areas

• High retail demand area with limited amount of retail centers

• Located in a highly regulated and protected area greatly limiting the amount of future development

• Densely populated, highly visible, high traffic area

Price:$6,200,000

Cap Rate: 7.85%Occupied: 97.41%

The information contained herein was obtained from sources deemed reliable; however, Retail Solutions makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation of this real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice. Retail Solutions, which provides real estate brokerage services, is a division of Reliance Retail, LLC, a Texas Limited liability company.

BULL CREEK MARKET

Bull Creek MarketNEC OF CAPITAL OF TEXAS HIGHWAY AND FM 2222

6203 N CAPITAL OF TX HWY | AUSTIN, TEXAS 78660

Janice Landers - [email protected]

For More Information:www.retailsolutions.us


Confidential Memorandum and DisclaimerPlease note that the use of this Offering Memorandum and the Information (“Information”) provided is subject to the terms, provisions and limitations of the confidentiality agreement which we have provided to you (“Buyer”) and requested an executed copy.

Brokerage Relationships: By taking possession of and reviewing the information contained herein, Buyer acknowledges that the Listing Team of Retail Solutions (“Brokers”) are acting as Seller’s Agent in the disposition assignment for the property. Buyer acknowledges receipt of the form entitled Information About Brokerage Services.

Non-disclosure of Information: By taking possession of and reviewing the Information contained herein, Buyer agrees not to disclose, permit the disclosure of, release, disseminate or transfer any of the Information obtained from Broker or the Property owner (“Owner”) to any other person or entity except as permitted herein. Buyer shall take all appropriate precautions to limit the dissemination of the Information only to those persons within the firm who need to know the Information. The phrase “within the firm” shall be deemed to include outside attorneys, accountants and investors.

Disclaimer and Waiver: By taking possession of and reviewing the Information contained herein, Buyer understands and acknowledges that neither Brokers nor Owner make any representations or warranty, expressed or implied, as to the accuracy or completeness of any Information provided. Neither the Broker or the Owner shall have any liability whatsoever for the accuracy or completeness of the Information contained herein or any other written or oral communication or Information transmitted or made available or any action taken or decision made by the Buyer with respect to the Property. Buyer understands and acknowledges that they should make their own investigations, projections and conclusions without reliance upon the Information contained herein. Buyer assumes full and complete responsibility for confirmation and verification of all information received and expressly waives all rights of recourse against Owner, Brokers and Retail Solutions.








Investment Summary

Investment Highlights

Property InformationProperty Address

Location

County

Gross Leasable AreaNumber of Buildings

Land SizeYear Built

OccupancyNumber of Tenants

Current Tenants

Lease TypeNOI 2018

NOI 2019

Ownership

6203 N Capital of Texas Hwy Austin, Texas 78660Northeast corner of Capital of Texas Highway & FM 2222 in Austin, TexasTravis27,040 SF37 Acres1999 & 200497.41% occupied11Sherwin Williams, Waterloo Ice House, Sienna, Chase Flooring, 360 Pizza, Sharkey’s Kids CutsNNNAfter ground lease payment With the 699 sq ft vacancy- $486,835.42; 7.85% Cap Rate$525,031.93 - Due to escalating lease rates each year - $38,196.51 NOI IncreaseLeasehold Interest**This property is on a ground lease that expires 10-1-2038. There is a 10 year option to renew. Every 5 years there is a 50,000 bump. The ground lease owners have expressed a willingness to extend the term of the lease.

PricePrice PSF

Terms

$6,200,000$229 PSFCash to Seller

• Rare Austin Retail Center for Sale• Located on the NEC of Capital of Texas

Highway & FM 2222• One of Austin’s highest income

demographic areas• High retail demand area with limited

amount of retail centers• Located in a highly regulated and

protected area greatly limiting the amount of future development

• Densely populated, highly visible, high traffic area

• Bank Appraisal last year $6,400,000, Priced below the bank appraisal

• Ground lease expires October 1, 2038 and has a 10 year renewal ; there are 50K bumps every 5 years; next escalation is October 1,2018.

• Sienna and Chase Flooring have been at the center since the property was built; Waterloo has been there over 10 years and it’s their number one location; Avalar Realty, 360 Tans, 360 Pizza have also been there for renewals.


Financial Overview





DEMOGRAPHIC SNAPSHOT1 mile 3 miles 5 miles

2017 Total Population 5,557 50,270 172,445

2017 Daytime Population 7,272 59,425 242,349

2017 Households 2,860 24,088 79,434

Average Household Income $204,333 $150,747 $124,593

Traffic Counts: Capital of Texas Highway 56,989 VPD FM 2222: 29,887 VPD (TXDOT 2016)






Tenant Profiles

Website: www.sherwinwilliams.comCredit Rating: S&P Rated: Investment Grade BBB (Long-Term); A-2 (Short-Term)NYSE: SHW

The Sherwin-Williams Company (NYSE: SHW) is a Fortune 500 company founded in 1866. Sherwin-Williams manufactures, distributes, and sells general building materials including paints, coatings, and related products to professional and retail customers throughout the Americas and Europe. Sherwin-Wil-liams is the largest coatings manufacturer in the United States and the third largest in the world, oper-ating facilities in well over 100 countries. Sherwin-Williams products are sold under Dutch Boy, Krylon, Minwax, Thompson’s, and Water Seal brands. Sherwin-Williams-branded products are sold in over 4,000 company-owned stores while its other brands are carried by other retailers, hardware stores, and indus-trial distributors. Sherwin-Williams opened 42 new stores in Q1–Q3 of 2013 and acquired Comex (US and Canada), which added an additional 306 stores. Sherwin-Williams increased annual revenue in 2013 by over 8% and increased net sales by $244.2 million to $2.85 billion (+9.4%) in Q3 2013, compared to the same period in 2012.

https://www.exchangeright.com/tenant-profiles/credit-tenants/sherwin-williams-corporate-profile/

Website: www.waterlooicehouse.com Locations: 4

The first Waterloo Ice House opened its doors on Congress Avenue in 1976. It was casual neighborhood gathering spot serving hot, handmade meals and ice cold beer for an eclectic mix of Austin business people, students, artists and musicians. Not much has changed since our opening almost 40 years ago. Waterloo Ice House still embodies that Hill Country spirit of gathering with friends and family for a cold beer and spending time together eating, laughing and talking.

https://waterlooicehouse.com/history

Website: www.sienaaustin.com• Romantic destination for wine & upscale, seasonal Tuscan plates like wild boar bruschetta.• Listed as on the Best Chefs in America is Chef Harvey Harris- Owner Stan Adams- a

successful restauranteur since 1982 in Austin. He is an original tenant in Bull Creek Market






Tenant Profiles

Website: www.chaseflooring.com• A family-owned business, founded by brother Marc Chase and Chris Chase in 1992• Original Bull Creek Market Tenant

Website: www.austin360tans.com• Local owners, has been at Bull Creek Market since 2005

Website: www.atxpizza.com• Relaxed contemporary haunt for specialty New York-style pies, calzones, subs,

salads & antipasti.

Website: www.lacrosseunlimited.com

On November 23, 1990, the DeSimone Family went with their gut and opened the first lacrosse-only retail store on Long Island in Hauppauge, New York. Word quickly spread in the close-knit lacrosse community on Long Island, so in 1992, a second store was opened in neighboring East Meadow, New York. With 44 locations and counting, our unique dyes, custom stringing, and wide selection of equipment and private-label apparel make for a home-away-home for players and their parents.


Photos






Site Plan






Close-Up Aerial






Retail Aerial






Region Map










Location Map






Austin, Texas

Austin is the Best Place to Live in the USA in U.S. News 2017 ranking. (U.S. News & World Report, 2/7/17)

Texas is the No. 4 State for Business, up from 6th place in 2015. (Forbes, 11/16/2016)

Austin ranked No. 1 Best Place to Start a Business (CNBC, August 2016)

Travelers love Austin—Austin ranks 2nd in destination experience satisfaction study. (J.D. Power, 10/19/16)

Austin, with population projected to nearly double, will be the Fastest Growing Large Metro through 2040. (American City Business Journals, 10/11/16)






DEMOGRAPHICS

Austin has experienced steady population and economic growth over the past two decades. The total population of the Austin-Round Rock-San Marcos Core Based Statistical Area (CBSA) is currently estimated at 2,029,901 with 958,242 of that within the city of Austin, itself. Growth within the Austin-Round Rock-San Marcos CBSA has been strong over the past decade, with a net gain of 780,101 residents since 2000 (+62.42%), and an additional 295,093 residents are anticipated through 2020 (+14.54%).

ECONOMY

The Austin-Round Rock CBSA is becoming known as an attractive alternative to high-priced areas like California’s Silicon Valley, and has attracted the attention of many large hi-tech companies that continue to contribute to Austin’s tremendous growth. Some examples include the future Apple campus expansion and other hi-tech

companies including Dell, HP, IBM, Cisco Systems, Xerox, Oracle, Intel, Google, and 3M.

Austin directly benefits from the fact that the State of Texas has no personal or corporate income tax. Overall, the state has one of the lowest state and local tax burdens in the nation, ranking 47th in taxes paid per $1,000 of personal income.

The information herein was obtained from sources deemed reliable; however, Retail Solutions makes no guaranties, warranties, or representations to thecompleteness or accuracy thereof. The presentation of this real estate information is subject to errors, omissions, change of price, prior sale or lease, orwithdrawal without notice. Retail Solutions, which provides real estate brokerage services, is a division of Reliance Retail, LLC, a Texas Limited liability company.

AUSTIN, TEXAS Austin, Texas






2017 MAJOR RELOCATIONS & EXPANSIONSCompany Type of Operation Jobs Created Location Type of Action

Ericsson Application-specific IC design center Austin New

1,000 Austin Expanded

Social media solutions (Hdq.) Austin

Austin New

Merck & Co. Austin New

Homeway Online vacation home rentals (Hdq.) Austin Expanded

AUSTIN, TEXAS

Facebook

Main Street Hub

Siemens BuildingTechnologies

120

Social networking service's online operationscenter (sales/marketing)

400 Expanded

Energy management products digital servicecenter

130

Pharmaceutical company's IT innovation center

600

2,000


Demographics





Market Profile6203 N Capital of Texas Hwy, Austin, Texas, 78731 2 Prepared by Esri6203 N Capital of Texas Hwy, Austin, Texas, 78731 Latitude: 30.36030Rings: 1, 3, 5 mile radii Longitude: -97.79013

1 mile 3 miles 5 milesPopulation Summary

2000 Total Population 4,208 43,377 146,0732010 Total Population 4,806 46,450 154,2292017 Total Population 5,557 50,270 172,445

2017 Group Quarters 0 212 1,5602022 Total Population 5,915 53,515 185,275

2017-2022 Annual Rate 1.26% 1.26% 1.45%2017 Total Daytime Population 7,272 59,425 242,349

Workers 4,763 36,120 165,633Residents 2,509 23,305 76,716

Household Summary2000 Households 2,069 20,476 66,060

2000 Average Household Size 2.02 2.11 2.182010 Households 2,454 22,250 70,460



2022 Average Household Size 1.93 2.08 2.142017-2022 Annual Rate 1.35% 1.29% 1.56%

2010 Families 1,469 11,822 36,9362010 Average Family Size 2.53 2.79 2.92

2017 Families 1,645 12,522 40,5172017 Average Family Size 2.54 2.82 2.93

2022 Families 1,729 13,170 43,0782022 Average Family Size 2.55 2.83 2.932017-2022 Annual Rate 1.00% 1.01% 1.23%

Housing Unit Summary2000 Housing Units 2,150 21,135 68,652

Owner Occupied Housing Units 78.7% 60.1% 51.4%Renter Occupied Housing Units 17.6% 36.8% 44.8%Vacant Housing Units 3.8% 3.1% 3.8%

2010 Housing Units 2,677 23,853 76,620Owner Occupied Housing Units 63.2% 55.7% 48.9%Renter Occupied Housing Units 28.5% 37.5% 43.1%Vacant Housing Units 8.3% 6.7% 8.0%



Median Household Income2017 $143,175 $100,416 $78,7902022 $144,673 $106,195 $89,424

Median Home Value2017 $551,215 $487,179 $424,3342022 $580,709 $506,964 $445,667

Per Capita Income2017 $95,672 $72,330 $57,1952022 $101,760 $78,789 $63,508

Median Age2010 44.3 40.2 36.72017 45.2 41.2 37.52022 45.6 41.8 38.0

Data Note: Household population includes persons not residing in group quarters. Average Household Size is the household population divided by total households. Persons in families include the householder and persons related to the householder by birth, marriage, or adoption. Per Capita Income represents the income received by all persons aged 15 years and over divided by the total population.Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022 Esri converted Census 2000 data into 2010 geography.

June 05, 2018

©2018 Esri Page 1 of 7

Janice Landers | [email protected]

Janice Landers began her real estate career in 2001 after selling her industrial supply company in which she also founded and operated. She has been actively involved in a broad range of real estate such as land development, retail, medical and office, industrial, 1031 exchanges, acquisitions, tenant representation, leasing and sales. She has also been successful in raising equity for real estate projects , negotiating joint ventures and working with EB5 .With her many years of experience in putting together the right teams, she has sold thousands of acres of land, and leased/sold over one million square feet of commercial space. She also assembled over $150M in real estate, over $200M in joint venture assets for a REIT and helped put together a $500M fund.Ms. Landers continues to sharpen her financial knowledge through continuing education courses and is a candidate working towards the Certified Commercial Investment Member (CCIM) designation. She is also a member of the International Council of Shopping Centers (ICSC) and of Central Texas Council of Realtors(CTCAR).

Listing Broker







FOR MORE INFORMATION, PLEASE VISIT:www.retailsolutions.us



CONTACT US

JANICE [email protected]

AUSTIN7320 N Mopac ExpresswaySuite 101Austin, Texas 78731

DALLAS13601 Preston RoadSuite E1070Dallas, Texas 75240

HOUSTON9432 Katy FreewaySuite 300Houston, Texas 77055

SAN ANTONIO8000 IH-10 WestSuite 910San Antonio, Texas 78230

MCALLEN200 S 10th StreetSuite 805McAllen, Texas 78501

MIDLAND4607 Pine Meadow DriveSuite 2Midland, Texas 79705

LOUISIANA214 E NezpiqueJennings, Louisiana 70546

EL PASO4798 DoniphanSuite AEl Paso, Texas 79922

11-2-2015

Information About Brokerage ServicesTexas law requires all real estate license holders to give the following informaƟon about

brokerage services to prospecƟve buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: .• A BROKER is responsible for all brokerage acƟviƟes, 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 informaƟon about the property or transacƟon received by the broker;• Answer the client’s quesƟons and present any offer to or counter-offer from the client; and• Treat all parƟes to a real estate transacƟon 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 wriƩen lisƟng to sell or property management agreement. An owner's agent must perform the broker’s minimum duƟes above and must inform the owner of any material informaƟon about the property or transacƟon known by the agent, including informaƟon 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 wriƩen representaƟon agreement. A buyer's agent must perform the broker’s minimum duƟes above and must inform the buyer of any material informaƟon about the property or transacƟon known by the agent, including informaƟon disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parƟes the broker must first obtain the wriƩen agreement of each party to the transacƟon. The wriƩen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaƟons as an intermediary. A broker who acts as an intermediary:

• Must treat all parƟes to the transacƟon imparƟally and fairly;• May, with the parƟes' wriƩen 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 instrucƟons of each party to the transacƟon.• Must not, unless specifically authorized in wriƟng to do so by the party, disclose:

ᴑ that the owner will accept a price less than the wriƩen asking price;ᴑ that the buyer/tenant will pay a price greater than the price submiƩed in a wriƩen offer; andᴑ any confidenƟal informaƟon or any other informaƟon that a party specifically instructs the broker in wriƟng 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 transacƟon 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 duƟes and responsibiliƟes to you, and your obligaƟons under the representaƟon 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 noƟce is being provided for informaƟon purposes. It does not create an obligaƟon for you to use the broker’s services. Please acknowledge receipt of this noƟce below and retain a copy for your records.

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

License No. Email Phone


Licensed Supervisor of Sales Agent/Associate


Sales Agent/Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission

Buyer/Tenant/Seller/Landlord Initials

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

Date

Reliance Retail LLC OR Texas RS LLC dba "Retail Solutions " 603091 OR 9003193 [email protected] 512-474-5557

David J. Simmonds OR David Russell Burggraaf

Designated Broker of Firm

459263 OR 518156 [email protected] 512-474-5557

David J. Simmonds OR David Russell Burggraaf 459263 OR 518156 [email protected] 512-474-5557



BULL CREEK MARKET - LoopNet...Sherwin-Wil-liams is the largest coatings manufacturer in the United...

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