MAINLAND CROSSING - LoopNet...Va'Nayes Hair Design 152 1,638 1.21% 12/17 11/20 $19,656 $1,638 $12.00...

TEXAS CITY, TX(HOUSTON MSA)

MAINLAND CROSSING

2F INANCIAL ANALYSIS

MAINLAND CROSSINGPRICING & FINANCIAL ANALYSIS

Mainland Crossing9800 Emmett F Lowry ExpyTexas City, TX 77591

OFFERING SUMMARY

Price $8,000,000

Assumable Loan $4,944,587

Equity Down $3,055,413

Price PSF $65.31

Year Built 1991

Gross Leasable Area 135,355 SF

Lot Size 19.56 Acres

Current Net Operating Income $376,740

Current Occupancy 42.7%

Pro Forma Net Operating Income $1,065,847

Pro Forma Occupancy 93.0%

Pro Forma Yield 13.32%

Loan details on Page 10


MAINLAND CROSSINGPRICING & FINANCIAL ANALYSIS - CURRENT

PROJECTED INCOME & EXPENSES CURRENT PSF

Base Rent - Occupied Space $600,644 $4.44

GROSS POTENTIAL RENT $600,644 $4.44

Expense Reimbursements

CAM Recoveries $234,141 $1.73

Management Fee Recoveries $6,191 $0.05

Insurance Recoveries $10,488 $0.08

Real Estate Tax Recoveries $21,719 $0.16

Total Expense Reimbursements $272,539 $2.01

Other Revenue

Office Depot CAM $2,396 $0.02

Discount Tire CAM $2,281 $0.02

Total Other Revenue $4,677 $0.03

EFFECTIVE GROSS REVENUE $877,860 $6.49

Operating Expenses

Total CAM $297,308 $2.20

Management Fee 5.00% $43,388 $0.32

Total Insurance $82,440 $0.61

Total Real Estate Taxes $77,984 $0.58

Total Recoverable Expenses $501,120 $3.70

Net Operating Income $376,740 $2.78

EXPENSES CURRENT PSF

Real Estate Taxes $77,984 $0.58

Insurance $82,440 $0.61

CAM

Janitorial $62,729 $0.46

Landscaping $8,650 $0.06

Repairs & Maintenance $81,385 $0.60

Security $66,000 $0.49

UTL - Water & Sewer $3,600 $0.03

UTL - Trash $1,068 $0.01

UTL - Electricity $73,876 $0.55

Total CAM $297,308 $2.20

Management Fee 5.00% $43,388 $0.32

Total Expenses $501,120 $3.70


MAINLAND CROSSINGRENT ROLL - CURRENT

Tenant Suite SQ FT % of SQFT Lease Dates Minimum Rent Recoveries Total

Start End Annual Monthly PSF Annual PSF Revenue % of Revenue

Rainbow 104 4,010 2.96% 02/18 01/23 $37,440 $3,120 $9.34 $9,420 $2.35 $46,860 5.37%

To God Be the Glory 108 2,710 2.00% 11/18 10/19 $19,776 $1,648 $7.30 $4,224 $1.56 $24,000 2.75%

Jackson Hewitt 116 1,400 1.03% 05/16 04/22 $20,790 $1,733 $14.85 $5,725 $4.09 $26,515 3.04%

UTMB Health Care 128 3,495 2.58% 08/15 07/19 $44,561 $3,713 $12.75 $14,292 $4.09 $58,853 6.74%

US Dept VA 144 2,310 1.71% 4/17 3/22 $135,576 $11,298 $58.69 $0 $0.00 $135,576 15.53%

Va'Nayes Hair Design 152 1,638 1.21% 12/17 11/20 $19,656 $1,638 $12.00 $6,698 $4.09 $26,354 3.02%

Texas 1st Choice Realty 160 900 0.66% 11/18 10/19 $10,800 $900 $12.00 $3,680 $4.09 $14,480 1.66%

Luna Mexican Restaurant 168 4,015 2.97% 11/15 10/21 $32,120 $2,677 $8.00 $34,954 $8.71 $67,074 7.68%

Best Insurance 176 1,605 1.19% 01/15 12/19 $23,273 $1,939 $14.50 $6,563 $4.09 $29,836 3.42%

Lovely Nails 180 900 0.66% 01/14 12/21 $12,500 $1,042 $13.89 $3,680 $4.09 $16,180 1.85%

New Sound Hearing 186 1,620 1.20% 10/15 09/19 $24,300 $2,025 $15.00 $6,625 $4.09 $30,925 3.54%

Optometry Group 190 1,600 1.18% 12/16 11/19 $24,000 $2,000 $15.00 $6,543 $4.09 $30,543 3.50%

VA Clinic 198 13,570 10.03% 03/18 03/21 $188,076 $15,673 $13.86 $165,910 $12.23 $353,986 40.54%

Foursquare Church 222 3,000 2.22% 06/18 05/20 $7,776 $648 $2.59 $4,224 $1.41 $12,000 1.37%

Available 100A 50,526 37.33% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 112 1,400 1.03% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 120 1,400 1.03% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 124 1,400 1.03% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 138 10,800 7.98% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 148 2,000 1.48% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 156 2,400 1.77% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 164 2,421 1.79% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 184 2,991 2.21% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Available 216 2,250 1.66% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Storage Area 14,994 11.08% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Total Count/GLA 25 135,355 100% Totals $600,644 $50,054 $272,539 $873,183 100.00%

Occupied 15 57,767 42.7%

Available 10 77,588 57.3%

Total Avg Rent $14.04 42,773 100.0%


MAINLAND CROSSINGESTIMATED REIMBURSEMENT REVENUE - CURRENT

Tenant Suite SQ FT % of SQFT CAM Management Fee Insurance Real Estate Taxes Total Recovery

Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF

Rainbow 104 4,010 2.96% $785 $2.35 $0 $0.00 $0 $0.00 $0 $0.00 $785 $2.35

To God Be the Glory 108 2,710 2.00% $277 $1.23 $0 $0.00 $0 $0.00 $75 $0.33 $352 $1.56

Jackson Hewitt 116 1,400 1.03% $288 $2.47 $42 $0.36 $71 $0.61 $76 $0.65 $477 $4.09

UTMB Health Care 128 3,495 2.58% $719 $2.47 $105 $0.36 $178 $0.61 $189 $0.65 $1,191 $4.09

US Dept VA 144 2,310 1.71% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Va'Nayes Hair Design 152 1,638 1.21% $337 $2.47 $49 $0.36 $83 $0.61 $88 $0.65 $558 $4.09

Texas 1st Choice Realty 160 900 0.66% $185 $2.47 $27 $0.36 $46 $0.61 $49 $0.65 $307 $4.09

Luna Mexican Restaurant 168 4,015 2.97% $2,371 $7.09 $121 $0.36 $204 $0.61 $217 $0.65 $2,913 $8.71

Best Insurance 176 1,605 1.19% $330 $2.47 $48 $0.36 $82 $0.61 $87 $0.65 $547 $4.09

Lovely Nails 180 900 0.66% $185 $2.47 $27 $0.36 $46 $0.61 $49 $0.65 $307 $4.09

New Sound Hearing 186 1,620 1.20% $333 $2.47 $49 $0.36 $82 $0.61 $87 $0.65 $552 $4.09

Optometry Group 190 1,600 1.18% $329 $2.47 $48 $0.36 $81 $0.61 $86 $0.65 $545 $4.09

VA Clinic 198 13,570 10.03% $13,093 $11.58 $0 $0.00 $0 $0.00 $733 $0.65 $13,826 $12.23

Foursquare Church 222 3,000 2.22% $277 $1.11 $0 $0.00 $0 $0.00 $75 $0.30 $352 $1.41

Available 100A 50,526 37.33% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 112 1,400 1.03% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 120 1,400 1.03% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 124 1,400 1.03% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 138 10,800 7.98% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 148 2,000 1.48% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 156 2,400 1.77% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 164 2,421 1.79% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 184 2,991 2.21% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Available 216 2,250 1.66% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Storage Area 14,994 11.08% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

TOTALS 135,355 100% $19,512 $516 $874 $1,810 $22,712


MAINLAND CROSSINGPRICING & FINANCIAL ANALYSIS - PRO FORMA

PROJECTED INCOME & EXPENSES CURRENT PSF

Base Rent - Occupied Space $1,091,492 $8.06

GROSS POTENTIAL RENT $1,091,492 $8.06

Expense Reimbursements

CAM Recoveries $425,794 $3.15

Management Fee Recoveries $37,099 $0.27

Insurance Recoveries $57,873 $0.43

Real Estate Tax Recoveries $71,990 $0.53

Total Expense Reimbursements $592,755 $4.38

Other Revenue

Office Depot CAM $2,396 $0.02

Discount Tire CAM $2,281 $0.02

Total Other Revenue $4,677 $0.03

Vacancy Reserve 7% ($118,225) ($0.87)

EFFECTIVE GROSS REVENUE $1,570,700 $11.60

Operating Expenses

Total CAM $297,308 $2.20

Management Fee 3.00% $47,121 $0.35

Total Insurance $82,440 $0.61

Total Real Estate Taxes $77,984 $0.58

Total Recoverable Expenses $504,853 $3.73

Net Operating Income $1,065,847 $7.87

EXPENSES CURRENT PSF

Real Estate Taxes $77,984 $0.58

Insurance $82,440 $0.61

CAM

Janitorial $62,729 $0.46

Landscaping $8,650 $0.06

Repairs & Maintenance $81,385 $0.60

Security $66,000 $0.49

UTL - Water & Sewer $3,600 $0.03

UTL - Trash $1,068 $0.01

UTL - Electricity $73,876 $0.55

Total CAM $297,308 $2.20

Management Fee 3.00% $47,121 $0.35

Total Expenses $504,853 $3.73


MAINLAND CROSSINGRENT ROLL - PRO FORMA

Tenant Suite SQ FT % of SQFT Lease Dates Minimum Rent Recoveries Total

Start End Annual Monthly PSF Annual PSF Revenue % of Revenue

Rainbow 104 4,010 2.96% 02/18 01/23 $37,440 $3,120 $9.34 $9,420 $2.35 $46,860 2.78%

To God be the Glory 108 2,710 2.00% 11/18 10/19 $19,776 $1,648 $7.30 $4,224 $1.56 $24,000 1.42%

Jackson Hewitt 116 1,400 1.03% 05/16 04/22 $20,790 $1,733 $14.85 $5,768 $4.12 $26,558 1.58%

UTMB Health Care 128 3,495 2.58% 08/15 07/19 $44,561 $3,713 $12.75 $14,400 $4.12 $58,962 3.50%

US Dept VA 144 2,310 1.71% 4/17 3/22 $135,574 $11,298 $58.69 $0 $0.00 $135,574 8.05%

Va'Nayes Hair Design 152 1,638 1.21% 12/17 11/20 $19,656 $1,638 $12.00 $6,749 $4.12 $26,405 1.57%

Texas 1st Choice Realty 160 900 0.66% 11/18 10/19 $10,800 $900 $12.00 $3,708 $4.12 $14,508 0.86%

Luna Mexican Restaurant 168 4,015 2.97% 11/15 10/21 $32,120 $2,677 $8.00 $35,079 $8.74 $67,199 3.99%

Best Insurance 176 1,605 1.19% 01/15 12/19 $23,273 $1,939 $14.50 $6,613 $4.12 $29,886 1.77%

Lovely Nails 180 900 0.66% 01/14 12/21 $12,500 $1,042 $13.89 $3,708 $4.12 $16,208 0.96%

New Sound Hearing 186 1,620 1.20% 10/15 09/19 $24,300 $2,025 $15.00 $6,675 $4.12 $30,975 1.84%

Optometry Group 190 1,600 1.18% 12/16 11/19 $24,000 $2,000 $15.00 $6,592 $4.12 $30,592 1.82%

VA Clinic 198 13,570 10.03% 03/18 03/21 $188,076 $15,673 $13.86 $165,910 $12.23 $353,986 21.02%

Foursquare Church 222 3,000 2.22% 06/18 05/20 $7,776 $648 $2.59 $4,224 $1.41 $12,000 0.71%

Lease Up Tenant 100A 50,526 37.33% - - $252,630 $21,053 $5.00 $208,181 $4.12 $460,811 27.36%

Lease Up Tenant 112 1,400 1.03% - - $14,000 $1,167 $10.00 $5,768 $4.12 $19,768 1.17%

Lease Up Tenant 120 1,400 1.03% - - $14,000 $1,167 $10.00 $5,768 $4.12 $19,768 1.17%

Lease Up Tenant 124 1,400 1.03% - - $14,000 $1,167 $10.00 $5,768 $4.12 $19,768 1.17%

Lease Up Tenant 138 10,800 7.98% - - $75,600 $6,300 $7.00 $44,499 $4.12 $120,099 7.13%

Lease Up Tenant 148 2,000 1.48% - - $20,000 $1,667 $10.00 $8,241 $4.12 $28,241 1.68%

Lease Up Tenant 156 2,400 1.77% - - $24,000 $2,000 $10.00 $9,889 $4.12 $33,889 2.01%

Lease Up Tenant 164 2,421 1.79% - - $24,210 $2,018 $10.00 $9,975 $4.12 $34,185 2.03%

Lease Up Tenant 184 2,991 2.21% - - $29,910 $2,493 $10.00 $12,324 $4.12 $42,234 2.51%

Lease Up Tenant 216 2,250 1.66% - - $22,500 $1,875 $10.00 $9,271 $4.12 $31,771 1.89%

Storage Area 14,994 11.08% - - $0 $0 $0.00 $0 $0.00 $0 0.00%

Total Count/GLA 25 135,355 100% Totals $1,091,492 $90,958 $592,755 $1,684,247 100.00%

Occupied 25 135,355 100.0%

Available 0 0 0.0%

Total Avg Rent $9.07 120,361 100.0%


MAINLAND CROSSINGESTIMATED REIMBURSEMENT REVENUE - PRO FORMA

Tenant Suite SQ FT % of SQFT CAM Management Fee Insurance Real Estate Taxes Total Recovery

Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF

Rainbow 104 4,010 2.96% $785 $2.35 $0 $0.00 $0 $0.00 $0 $0.00 $785 $2.35

To God be the Glory 108 2,710 2.00% $277 $1.23 $0 $0.00 $0 $0.00 $75 $0.33 $352 $1.56

Jackson Hewitt 116 1,400 1.03% $288 $2.47 $46 $0.39 $71 $0.61 $76 $0.65 $481 $4.12

UTMB Health Care 128 3,495 2.58% $719 $2.47 $114 $0.39 $178 $0.61 $189 $0.65 $1,200 $4.12

US Dept VA 144 2,310 1.71% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

Va'Nayes Hair Design 152 1,638 1.21% $337 $2.47 $53 $0.39 $83 $0.61 $88 $0.65 $562 $4.12

Texas 1st Choice Realty 160 900 0.66% $185 $2.47 $29 $0.39 $46 $0.61 $49 $0.65 $309 $4.12

Luna Mexican Restaurant 168 4,015 2.97% $2,371 $7.09 $131 $0.39 $204 $0.61 $217 $0.65 $2,923 $8.74

Best Insurance 176 1,605 1.19% $330 $2.47 $52 $0.39 $82 $0.61 $87 $0.65 $551 $4.12

Lovely Nails 180 900 0.66% $185 $2.47 $29 $0.39 $46 $0.61 $49 $0.65 $309 $4.12

New Sound Hearing 186 1,620 1.20% $333 $2.47 $53 $0.39 $82 $0.61 $87 $0.65 $556 $4.12

Optometry Group 190 1,600 1.18% $329 $2.47 $52 $0.39 $81 $0.61 $86 $0.65 $549 $4.12

VA Clinic 198 13,570 10.03% $13,093 $11.58 $0 $0.00 $0 $0.00 $733 $0.65 $13,826 $12.23

Foursquare Church 222 3,000 2.22% $277 $1.11 $0 $0.00 $0 $0.00 $75 $0.30 $352 $1.41

Lease Up Tenant 100A 50,526 37.33% $10,401 $2.47 $1,648 $0.39 $2,571 $0.61 $2,728 $0.65 $17,348 $4.12

Lease Up Tenant 112 1,400 1.03% $288 $2.47 $46 $0.39 $71 $0.61 $76 $0.65 $481 $4.12

Lease Up Tenant 120 1,400 1.03% $288 $2.47 $46 $0.39 $71 $0.61 $76 $0.65 $481 $4.12

Lease Up Tenant 124 1,400 1.03% $288 $2.47 $46 $0.39 $71 $0.61 $76 $0.65 $481 $4.12

Lease Up Tenant 138 10,800 7.98% $2,223 $2.47 $352 $0.39 $550 $0.61 $583 $0.65 $3,708 $4.12

Lease Up Tenant 148 2,000 1.48% $412 $2.47 $65 $0.39 $102 $0.61 $108 $0.65 $687 $4.12

Lease Up Tenant 156 2,400 1.77% $494 $2.47 $78 $0.39 $122 $0.61 $130 $0.65 $824 $4.12

Lease Up Tenant 164 2,421 1.79% $498 $2.47 $79 $0.39 $123 $0.61 $131 $0.65 $831 $4.12

Lease Up Tenant 184 2,991 2.21% $616 $2.47 $98 $0.39 $152 $0.61 $161 $0.65 $1,027 $4.12

Lease Up Tenant 216 2,250 1.66% $463 $2.47 $73 $0.39 $115 $0.61 $121 $0.65 $773 $4.12

Storage Area 14,994 11.08% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00

TOTALS 135,355 100% $35,483 $3,092 $4,823 $5,999 $49,396


MAINLAND CROSSINGLEASE PROVISIONS

Tenant Suite SQ FTBase Rental Increases

Renewal Options Termination RightsSales

Reporting

Date PSF Options Date PSF

Rainbow 104 4,010 - - - - - Tenant shall have the right to terminate the Lease if sales during any calendar year commencing with 2018 do not

reach or exceed $425,000 by ninety (90) days prior written notice to the Landlord between January l st and

June 30th of the subsequent year.

Yes

To God be the Glory 108 2,710 - - - - - - -

Jackson Hewitt 116 1,400 5/1/2019 5/1/2020

$14.82 $15.00

1 x 3 5/1/2022 5/1/2023 5/1/2024

$15.30 $15.61 $15.92

Landlord, after execution of this amendment by Landlord and Tenant, shall not enter into any lease, license, or other agreement with any other party allowing such party to use any portion of any other premises in the Shopping Center

as a tax services or tax preparation provider

-

UTMB Health Care 128 3,495 - - - - - - -

US Dept VA 144 2,310 - - - - - - -

Va'Nayes Hair Design 152 1,638 - - - - - - Yes

Texas 1st Choice Realty 160 900 - - 1 x 1 11/1/2019 $13.00 - -

Luna Mexican Restaurant 168 4,015 11/1/2018 $8.00 - - - - Yes

Best Insurance 176 1,605 1/1/2019 $15.00 - - - - -

Lovely Nails 180 900 1/1/2019 $13.89 - - - - Yes

New Sound Hearing 186 1,620 10/1/2018 $15.00 - - - - -

Optometry Group 190 1,600 - - - - - - Yes

VA Clinic 198 13,570 - - - - - - -

Foursquare Church 222 3,000 - - - - - - -

Lease Up Tenant 100A 50,526 - - - - - - -

Lease Up Tenant 112 1,400 - - - - - - -

Lease Up Tenant 120 1,400 - - - - - - -

Lease Up Tenant 124 1,400 - - - - - - -

Lease Up Tenant 138 10,800 - - - - - - -

Lease Up Tenant 148 2,000 - - - - - - -

Lease Up Tenant 156 2,400 - - - - - - -

Lease Up Tenant 164 2,421 - - - - - - -

Lease Up Tenant 184 2,991 - - - - - - -

Lease Up Tenant 216 2,250 - - - - - - -

Storage Area 14,994 - - - - - - -

TOTAL 135,355


MAINLAND CROSSINGLOAN DETAILS

EXISTING ASSUMABLE LOAN

Purchase Price $8,000,000

Original Loan Amount (3/1/2013) $5,500,000

Interest Rate 4.66%

Amortization Schedule 30 Years

Loan Constant 6.19%

Call 10 Years

Residual Percentage 80.50%

Pro Forma NOI $1,065,847

Annual Debt Service $340,716

Pro Forma Clear Cash after DS $725,131

Pro Forma Debt Service Coverage Ratio 3.13

Pro Forma Cap Rate 13.32%

Cash on Cash Return 18.75%

Estimated Loan Balance on 1/1/2019 $4,944,587

Loan to Purchase Price 1/1/2019 62%

Assumable Loan Start Date 3/1/2013

Assumable Loan Maturity Date 2/1/2023

11PROPERTY DESCRIPTION

MAINLAND CROSSINGTENANT INFORMATION

DBA Rainbow

Entity on Lease Rainbow USA, Inc.

Corporate/Franchise Corporate

Locations 1,300 in the United States

Credit Rating Not Rated

Public/Private Private

Line of Business Rainbow Shops, commonly referred to as just Rainbow is a privately held, moderately priced American retail apparel chain comprising several lifestyle brands primarily targeting teens and young women.

DBA Jackson Hewitt

Entity on Lease Tax Services of America, Inc.

Corporate/Franchise Corporate

Locations 6,000 Franchised and Company-Owned

Credit Rating Not Rated

Public/Private Private

Line of Business Jackson Hewitt Tax Service Inc. is the second-largest tax-preparation service in the United States; responsible for preparing over 2 million federal, state, and local income-tax returns each year.


MAINLAND CROSSINGINVESTMENT HIGHLIGHTS

• Desirable Value-Add Opportunity: With a current occupancy of 42.70%, immediate revenue growth is available with the lease-up of the available 77,588 square feet.

• Below Market Assumable Debt: The current assumable loan on the property provides an investor with a below market rate of 4.66% which is not achievable in today’s interest rate environment. Please see page 10 of the OM for details.

• High Growth Trade Area: High growth has been consistent in this area as evidenced by a 19.80% population growth within three miles since 2010. This same trade area has indications of 11.17% population growth projected over the next five years.

• Excellent Location in Texas City with High Traffic Counts: Situated along Emmett Lowry Expy between Houston and Galveston. Traffic counts along Interstate 45 exceed 69,150 Vehicles Per Day and 43,870 Vehicles Per Day Along Emmett Lowry Expy.

• Priced Below Replacement Cost: Mainland Crossing presents a compelling opportunity to acquire a retail asset at $65.31 per square foot which is well below replacement cost.


MAINLAND CROSSINGSITE PLAN

Emmett F Lowry Expy

Cen

tury

Blv

d

Galveston County

Farmer’s Copper

Suite Tenant GLA

104 Rainbow 4,010

108 To God be the Glory 2,710

116 Jackson Hewitt 1,400

128 UTMB Health Care 3,495

144 US Dept VA 2,310

152 Va'Nayes Hair Design 1,638

160 Texas 1st Choice Realty 900

168 Luna Mexican Restaurant 4,015

176 Best Insurance 1,605

180 Lovely Nails 900

186 New Sound Hearing 1,620

190 Optometry Group 1,600

198 VA Clinic 13,570

222 Foursquare Church 3,000

100A Lease Up Tenant 50,526

112 Lease Up Tenant 1,400









- Storage Area 14,994

100A

104

108112116120124

128

138

144148152

15616

016

4168

176

180

184

186

190

19821

6

222

Storage

Texas CityChamber of Commerce


MAINLAND CROSSINGAERIAL MAP

EMMETT F LOWRY EXPY

COLLEGE OF THE MAINLAND

SIMMS ELEMENTARY


MAINLAND CROSSINGLEASE COMPARABLES

Property GLAYr Built/

Renovated Occupancy Major TenantsAvailable

SF Rental Rates NNN

Mainland Crossing Shopping Center9800 Emmett F Lowry Expy.Texas City, TX

135,355 1991 42.7%VA Clinic, Luna Mexican Restaurant, Rainbow Shop, UTMB Health Care,

Jackson Hewitt, US Dept VA77,588 $8.00 - $16.00 $4.00

1Palmer Plaza3420-3470 Palmer Hwy.Texas City, TX

96,526 1981/1993 81.3% ALDI, Ross, Dollar Tree, Anytime Fitness, EZ Pawn, T-Mobile, ACE Cash Express 18,050

Anchor $8.00 - $12.00

In-line $15.00 - $20.00

$4.50

2 3403-3565 Palmer HwyTexas City, TX 131,215 1973/1997 95.7%

Kroger, Work Force Solution, SNG Dialysis, Payless Shoe Source, Sprint,

Check 'n Go5,682

Anchor $8.00 - $10.00

In-line $12.00 - $18.00

$4.00

3Dickinson Plaza3410-3436 Gulf Fwy.Dickinson, TX

82,670 1985/1993 90.3% Kroger, Sherwin-Williams, T-Mobile, Subway, H&R Block, Pizza Hut 8,050 In-line

$15.00 - $20.00 $3.60

4Mainland Mall SC5320 Texas AveTexas City, TX

68,777 1968/1992 96.3% Food Rite Market, Family Dollar, O'Reilly Auto Parts, H&R Block, Boost Mobile 2,556 $9.00 $2.50


MAINLAND CROSSINGLEASE COMPARABLES

1

2

3

4

Mainland Crossing

1 Palmer Plaza

2 3403 Palmer Hwy

3 Dickinson Plaza

4 Mainland Mall SC


MAINLAND CROSSINGREGIONAL MAP

Mainland Crossing


MAINLAND CROSSINGLOCAL MAP

Mainland Crossing


MAINLAND CROSSINGMARKET SUMMARY

Houston is the most populous city in the state of Texas and the fourth-most populous city in the United States. With a census-estimated 2013 population of 6.49 million people within a land area of 10,062 square miles, Houston is the largest city in the Southern United States, the seat of Harris County, and fifth-most populated MSA in the United States.

Houston was founded in 1836 on land near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city on June 5, 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles (40 km) east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center— the world’s largest concentration of healthcare and research institutions—and NASA’s Johnson Space Center, where the Mission Control Center is located.

Houston is recognized worldwide for its energy industry—particularly for oil and natural gas—as well as for biomedical research and aeronautics. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.

Nicknamed the Space City, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research. The city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is considered to be the most diverse city in Texas and the United States. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts.

Houston, TX

1st

26

3rd

4th

Most-Populous City in the State of Texas

O V E R V I E W Q U I C K S TAT S

Fortune 500 Companies Call Houston Home (Fortune)

Best City for Projected Annual Job Growth (Forbes)

Most-Populous City in the United States


MAINLAND CROSSINGDEMOGRAPHIC STATISTICS

1 Mile 3 Mile 5 Mile

Population:2023 Projection 4,749 24,108 72,7282018 Estimate 4,290 21,681 65,9202010 Census 3,698 18,064 58,286Growth 2018-2023 10.70% 11.19% 10.33%Growth 2010-2018 16.01% 20.02% 13.10%2018 Population Hispanic Origin 911 3,974 15,752

2018 Population by Race:White 2,475 10,841 43,514Black 1,575 9,940 19,848Am. Indian & Alaskan 37 164 516Asian 107 323 820Hawaiian & Pacific Island 7 21 56Other 89 392 1,166U.S. Armed Forces: 0 38 149

Households:2023 Projection 1,900 8,975 27,3062018 Estimate 1,714 8,073 24,7502010 Census 1,457 6,727 21,873Growth 2018 - 2023 10.85% 11.17% 10.33%Growth 2010 - 2018 17.64% 20.01% 13.15%Owner Occupied 809 5,365 16,336Renter Occupied 904 2,708 8,414

2018 Avg Household Income (National Avg - $75,558) $72,206 $66,404 $67,064 2018 Med Household Income (National Avg - $53,889) $47,373 $45,443 $45,833 2018 Households by Household Inc:

<$25,000 333 2,039 6,107$25,000 - $50,000 576 2,358 7,045$50,000 - $75,000 289 1,280 3,872$75,000 - $100,000 160 756 2,484$100,000 - $125,000 112 644 2,064$125,000 - $150,000 57 360 1,166$150,000 - $200,000 87 325 1,123$200,000+ 100 312 888

Demographic data © CoStar 2018

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.

CONFIDENTIALITY AGREEMENT

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.

Commercial Disclaimer

TYPES OF REAL ESTATE LICENSE HOLDERS:• ABROKERisresponsibleforallbrokerageactivities,includingactsperformedbysalesagentssponsoredbythebroker.• ASALESAGENT mustbesponsoredbyabrokerandworkswithclientsonbehalfofthebroker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Puttheinterestsoftheclientaboveallothers,includingthebroker’sowninterests;• Informtheclientofanymaterialinformationaboutthepropertyortransactionreceivedbythebroker;• Answertheclient’squestionsandpresentanyoffertoorcounter-offerfromtheclient;and• Treatallpartiestoarealestatetransactionhonestlyandfairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): Thebrokerbecomesthepropertyowner’sagentthroughanagreementwiththeowner,usuallyinawrittenlistingtosellorpropertymanagementagreement.Anowner’sagentmustperformthebroker’sminimumdutiesaboveandmustinformtheownerofanymaterialinformationaboutthepropertyortransactionknownbytheagent,includinginformationdisclosedtotheagentorsubagentbythebuyerorbuyer’sagent.

AS AGENT FOR BUYER/TENANT: Thebrokerbecomes thebuyer/tenant’sagentbyagreeing to represent thebuyer,usually throughawrittenrepresentationagreement.Abuyer’sagentmustperformthebroker’sminimumdutiesaboveandmustinformthebuyerofanymaterialinformationaboutthepropertyortransactionknownbytheagent,includinginformationdisclosedtotheagentbythesellerorseller’sagent.

AS AGENT FOR BOTH - INTERMEDIARY: Toactasanintermediarybetweenthepartiesthebrokermustfirstobtainthewrittenagreementofeachpartytothetransaction.Thewrittenagreementmuststatewhowillpaythebrokerand,inconspicuousboldorunderlinedprint,setforththebroker’sobligationsasanintermediary.Abrokerwhoactsasanintermediary:• Musttreatallpartiestothetransactionimpartiallyandfairly;• May,withtheparties’writtenconsent,appointadifferentlicenseholderassociatedwiththebrokertoeachparty(ownerand• buyer)tocommunicatewith,provideopinionsandadviceto,andcarryouttheinstructionsofeachpartytothetransaction.• Mustnot,unlessspecificallyauthorizedinwritingtodosobytheparty,disclose:

ӽ thattheownerwillacceptapricelessthanthewrittenaskingprice;ӽ thatthebuyer/tenantwillpayapricegreaterthanthepricesubmittedinawrittenoffer;andӽ anyconfidentialinformationoranyotherinformationthatapartyspecificallyinstructsthebrokerinwritingnottodisclose,unlessrequiredtodosobylaw.

AS SUBAGENT: Alicenseholderactsasasubagentwhenaidingabuyerinatransactionwithoutanagreementtorepresentthebuyer.Asubagentcanassistthebuyerbutdoesnotrepresentthebuyerandmustplacetheinterestsoftheownerfirst.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• Thebroker’sdutiesandresponsibilitiestoyou,andyourobligationsundertherepresentationagreement.• Whowillpaythebrokerforservicesprovidedtoyou,whenpaymentwillbemadeandhowthepaymentwillbecalculated.

LICENSE HOLDER CONTACT INFORMATION: Thisnoticeisbeingprovidedforinformationpurposes.Itdoesnotcreateanobligationforyoutousethebroker’sservices.Pleaseacknowledgereceiptofthisnoticebelowandretainacopyforyourrecords.

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

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov

Information About Brokerage Services

IABS1-0

469.844.8880 | STRIVERE.COM

exclusively listed

MAINLAND CROSSING - LoopNet...Va'Nayes Hair Design 152 1,638 1.21% 12/17 11/20 $19,656 $1,638 $12.00...

Documents

Transcript of MAINLAND CROSSING - LoopNet...Va'Nayes Hair Design 152 1,638 1.21% 12/17 11/20 $19,656 $1,638 $12.00...