OFFERING MEMORANDUM CBRE CAPITAL MARKETS …...HEADQUARTERS Bellevue, WA WEBSITE LEASE GURANTOR...

OFFER ING MEMORANDUM

C B R E C A P I TA L M A R K E T S

5250 SYCAMORE SCHOOL ROAD | FORT WORTH, TX 76123

S TA R B U C K S | T- M O B I L E


2

STARBUCKS | T-MOBILE

OFFERING SUMMARY

EXCLUSIVE MARKETING ADVISORS: M ICHAEL AUSTRYVICE PRES IDENT+1 214 252 1115michae l .aus t r y@cbre . com

JARED AUBREYSENIOR V ICE PRES IDENT+1 214 252 1031ja red .aub rey@cbre . com

PRICE

$2,909,000CAP RATE

5.50%NET OPERATING INCOME

$160,000AVERAGE REMAINING TERM

9.5 YEARSGROSS LEASEABLE AREA

4,000 SFLAND AREA

0.83 ACRESOCCUPANCY

100%YEAR BUILT

2018


3


INVESTMENT HIGHLIGHTS

+ Long-Term Triple Net Leases with Strong Lease Guarantees – New 10 Year Leases with Corporate Starbucks and Proven & Expanding T-Mobile operator (128 stores in 7 states)

+ Brand New, High Quality Construction with Drive-Thru – Built in 2018 the property has both outdoor seating and a drive-thru for the Starbucks space

+ Located off New Chisholm Trail Parkway – The $860 Million, 28-mile roadway already has over 30,000 vehicles per day and is quickly growing due to the significant residential growth driven by high quality schools, affordability, proximity to Downtown Fort Worth and infrastructure

+ Just miles to Future Tarleton University campus – The 80-Acre Texas A&M University System scheduled to open Fall 2019

+ Internet-Resistant, Complementary Tenant Mix

+ Densely Developed Residential Market with Strong Demographics – There are over 334,000 people in the 7-mile demographic ring with average household income exceeding $99,000 within 1-mile of the property

+ Across From New Wal-Mart Neighborhood Market – Huge traffic generator, ideal consumer base

+ Texas has NO State Income Tax


4


TENANT ROSTER

TENANTS SF GLA %LEASE

COMMENCEMENTLEASE

EXPIRATIONANNUAL BASE RENT TOTAL

LEASETYPE

STARBUCKS 2,000 50% JULY 2018 JUNE 2028 $86,000 NNN

T-MOBILE 2,000 50% SEPTEMBER 2018 AUGUST 2028 $74,000 NNN

TOTAL OCCUPIED 4,000 100% $160,000


5


PROPERTY AERIAL | 0.5 MILE VIEW

THE DYLAN (220 UNITS)

UNDER DEVELOPMENT & PLANNED SINGLE FAMILY DEVELOPMENTS

UNDER DEVELOPMENT MULTI-FAMILY DEVELOPMENTS

30,000 VPD

(1,225 LOTS)

(1,468 LOTS)


6


TAVOLO PARK (1,225 LOTS)

1THE DYLAN(220 UNITS)

A

LLANO SPRINGS (1,468 LOTS)

3

VILLAGES OF SUNSET POINTE

(443 LOTS)

2

4

SUMMER CREEK SOUTH

(515 LOTS)

CHISHOLM TRAIL WEST (812 LOTS)

5

WELLINGTON POINT (235 LOTS)

6

CHISHOLM TRAIL

(360 UNITS)

B

CHISHOLM TRAIL EAST (220 UNITS)

D

CHISHOLM TRAIL EAST (210 LOTS)

7

8MCPHERSON

VILLAGE 446 LOTS)

ROCK CREEK RANCH

(4,000 LOTS)

9

CHISHOLM TRAIL WEST (360 UNITS)

CNORTH CROWLEY

HIGH SCHOOL (2,454 STUDENTS)

CROWLEY MIDDLESCHOOL (626 STUDENTS)

SUMMER CREEK MIDDLE SCHOOL (768 STUDENTS)

TARLETON STATE UNIVERSITY FALL 2019 OPEN

(FUTURE 10,000 STUDENT ENROLLMENT)

NEW HOUSING GROWTH

SUBDIVISION LOTS

1 TAVOLO PARK 1,225

2 VILLAGES OF SUNSET POINTE 443

3 LLANO SPRINGS 1,468

4 SUMMER CREEK SOUTH 515

5 CHISHOLM TRAIL WEST 812

6 WELLINGTON POINT 235

7 CHISHOLM TRAIL EAST 210

8 MCPHERSON VILLAGE 446

9 ROCK CREEK RANCH 4,000

TOTAL 9,354

UNDER DEVELOPMENT & PLANNED SINGLE-FAMILY DEVELOPMENTS

COMMUNITY UNITS

A THE DYLAN 220

B CHISHOLM TRAIL 360

C CHISHOLM TRAIL WEST 360

D CHISHOLM TRAIL EAST 220

TOTAL 1,160

UNDER DEVELOPMENT & PLANNED MULTI-FAMILY DEVELOPMENTS


7


SURROUNDING NEW CONSTRUCTION


8


TENANT INFORMATION

TYPE Restaurant

YEARS IN BUSINESS 47

NO. OF LOCATIONS 28,200+

HEADQUARTERS Seattle, WA

WEBSITE www.starbucks.com

SQUARE FOOTAGE 2,000

% OF CENTER 50.00%

Starbucks is an American coffeehouse franchise offering hot and cold drinks, whole bean coffee, instant coffee, full and loose-leae teas, juices, pastries, and snack and lunch items. Customers may also purchase seasonal items specific to the locatio of the store including mugs, travel mugs, and tumblers. Starbucks expanded globally in 1996 and almost 1/3 of the locations operating are international.

TYPE Telecommunications

YEARS IN BUSINESS 24

NO. OF LOCATIONS 20,000+

HEADQUARTERS Bellevue, WA

WEBSITE www.t-mobile.com

LEASE GURANTOR MobileOne LLC

YEARS IN BUSINESS 9

NO. OF LOCATIONS 128+

HEADQUARTERS San Diego, CA

WEBSITE www.mobileonellc.com

SQUARE FOOTAGE 2,000

% OF CENTER 50.00%

T-Mobile, is a United States-based wireless network operator whose majority shareholder is the German telecommunications company Deutsche Telekom. T-Mobile provides wireless voice and data services in the United States, Puerto Rico and the U.S. Virgin Islands under the T-Mobile and MetroPCS brands. The company has annual revenues of over $40 billion.

This T-Mobile location is operated by MobileOneLLC, with over 128 stores in seven states. MobileOne has grown 1050% in the past three years and has been recognized by INC 5000. The recognition highlighted that the franchise is one of America’s fastest growing private companies.


9


In-P lace NOIJan-19 to Dec-19 $ PSF

Size of Improvements 4,000 SF

In-P lace Occupancy 100.00%

REVENUESScheduled Base RentTotal Scheduled Base Rent 160,000 40.00

CAM Reimbursement 8,000 2.00INS Reimbursement 1,000 0.25RET Reimbursement 16,000 4.00

EFFECTIVE GROSS REVENUE 185,000 46.25

OPERATING EXPENSESCommon Area Maintenance (8,000) (2.00)Insurance (1,000) (0.25)Real Estate Taxes (16,000) (4.00)

TOTAL OPERATING EXPENSES (25,000) (6.25)

NET OPERATING INCOME $160,000 $40.00

Annual Debt Service (118,367) (29.59)

CASH FLOW AFTER DEBT $41,633 $10.41

PURCHASE PRICE AS OF JANUARY 1, 2019 $2,909,091 $727.27

Loan Funding (1,890,909) (472.73)Origination Fee 18,909 4.73

INITIAL EQUITY $1,037,091 $259.27

Notes:Operating Expenses:a) Operating expenses are estimated and conform with the year 1 cap on NNNs associated with Starbucks. We have included no slippage for Starbucks for this year 1 cap.

Assumptions:Commencement Date Jan 1, 2019Operating Expense Source EstimatedManagement Fee (% of EGR) NoneReal Estate Taxes Reassessed No

Investment Summary:Capitalization Rate 5.50%Leveraged Cash on Cash Return [1] 4.01%Debt Service Coverage Ratio (NOI) 1.35xLoan Constant 6.26%Weighted Average Remaining Lease Term (in Years) 9.59

[1] Market Debt based on 65% Loan-to-Value, 4.75% Interest Rate, 30-Year Amortization, and a 1.00% Loan Fee.

IN-PLACE NOI & PRICING SUMMARY


10


RENT ROLL AS OF 1/1/2019

Square % of Lease Term Rental Rates Recovery

Suite Tenant Name Feet Proper ty Begin End Begin Monthly Annually PSF Type Comments/Options

1 Starbucks 2,000 50.00% Jul-2018 Jun-2028 Current $7,167 $86,000 $43.00

2 T-Mobile 2,000 50.00% Sep-2018 Aug-2028 Current $6,167 $74,000 $37.00

TOTALS / AVERAGES 4,000 $13,333 $160,000 $40.00

OCCUPIED SqFt 4,000 100.0%VACANT SqFt 0 0.0%

TOTAL SqFt 4,000 100.0%

NNN+MGT Termination option after 7 years with fee of unamortized leasing costs.

NNN+10%AF


11


7 MI

3 MI

1 MI

5 MI

SITE DEMOGRAPHICS

POPULATION

334,415 121,791

71,379

35,198

4,541

$99,190

$85,833

$83,657

$81,516

189,086

92,530

12,822

100,000 40,000200,000 80,000300,000 120,000

50,000

400,000 160,000

100,000

0 0

0

HOUSEHOLDS

AVERAGE HOUSEHOLD INCOME

7 MI

3 MI

1 MI

5 MI

7 MI

3 MI

1 MI

5 MI

25,000 75,000

361,264

2000

2018

2023

2010

POPULATION GROWTH (7 MILES)

235,429

293,213

334,415

100,000200,000300,000400,000 0


12


WHY DALLAS/FORT WORTH?

Office And Administrative Support 17.9%Sales And Related 10.9%Food Preparation And Serving Related 9.2%Transportation And Material Moving 8.2%Production 5.6%Business And Financial Operations 5.5%Education, Training, And Library 5.4%Healthcare Practitioners And Technical 5.4%Installation, Maintenance, And Repair 4.2%Management 4.2%Computer And Mathematical 4.1%Construction And Extraction 4.1%Personal Care And Service 2.7%Building And Grounds Cleaning /Maintenance 2.7%Healthcare Support 2.5%Protective Service 2.1%Architecture And Engineering 1.8%Arts, Design, Entertainment, Sports, And Media 1.2%Community And Social Service 0.8%Legal 0.7%Life, Physical, And Social Science 0.4%Farming, Fishing, And Forestry 0.1%

OUR EMPLOYMENTOVERALL EMPLOYMENT REMAINS STRONGDiversified economy has helped drive robust job growth.

JOBS (MILLIONS)

Source: Texas Workforce Commission, Bureau of Labor Statistics, April 2018.

730,900#2 2.8% 98,900JOBS ADDED SINCE JUNE 2010

JOBS ADDED YEAR-OVER-YEAR THROUGH FEBRUARY 2018

1.5

2.0

2.5

3.0

3.5

4.0

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

RECESSIONS:EMPLOYMENT:

MARKET FOR NUMBER OF JOBS ADDED BEHIND NEW YORK CITY

EXPANSION IN EMPLOYMENT BASE FEBRUARY 2017 - FEBRUARY 2018

(Seasonally adjusted)

LAB

OR

FO

RCE

Source: BLS Occupational Employment Statistics, April 2018.

HEALTHCARE

7 Not-For-Profit Heath Systems

90MEMBER HOSPITALSIN THE DALLAS/FORT WORTH HOSPITAL COUNCIL

Source: The Dallas Regional Chamber, The University of Texas Southwestern Medical Center, 2018.

AIRPORT SYSTEM & LOGISTICS

NOBELLAUREATES6

OUR ECONOMYHIGHER EDUCATION

Source: Dallas Regional Chamber, 2018.Source: Airports Council International, 2017; DFW International Airport, Love Field, Hillwood, 2018.

4TH BUSIEST AIRPORT IN U.S. (DFW INTERNATIONAL)

MAJOR UNIVERSITIES13

82.8 MILLION annual passengers (DFW International + Love Field)

1 OF 7 AIRPORTSAIRPORTS GLOBALLY WITH 200+ DIRECT DESTINATIONS (DFW INTERNATIONAL)

82 Acute care hospitals and other major medical centers

281 Medical manufacturing businesses20,000+ Hospital beds in the DFW region

58,687 Registered nurses in DFW

9,600 ACRES of inland port designated as Foreign-Trade Zone (Alliance Global Logistics Hub)

TOP 10 ranked container ports (BNSF Intermodal Facility), Coordinating nearly 3,000 trucks and 16 intermodal trains per day

15 major universities7 community college systems 370,899 students enrolled

3 of 7 Emerging research universities in Texas pursuing “tier one” status

3,600 Medical, graduate, and health profession students, residents, and postdoctoral fellows trained at UT Southwestern each year.

45,481 BACHELORS, MASTERS AND PHD DEGREES AWARDED IN 2015

TECHNOLOGY

48 COWORKING SPACES

Source: CBRE Research, April 2018; Dallas Regional Chamber, April 2018.

1of 3 OF ALL HIGH-TECH JOBS IN TEXAS

ARE LOCATED IN DFW

7TH LARGEST LARGEST CONCENTRATION OF TECHNOLOGY-RELATED EMPLOYEES IN THE U.S. (224,957 TECH TALENT TOTAL)

#1 LARGE AIRPORTIN NORTH AMERICA FOR CUSTOMER SERVICE

29 INCUBATORS/ACCELERATORS


13



OUR PEOPLECOST OF LIVING INDEX

OUR DIVERSITY

NEW YORK

SAN FRANCISCO

BOSTON

SEATTLE

SAN DIEGO

LOS ANGELES

PHILADELPHIA

CHICAGO

DALLAS

HOUSTON

ATLANTA

TAMPA

PHOENIX

ST. LOUIS-20 -0 20 40 60 80 100 120 140

% AVG. HOUSEHOLD INCOME % ABOVE US AVG. COST OF LIVING % ABOVE US AVG.

POPULATION TRENDS & DEMOGRAPHICS

47.1% Anglo

28.8% Hispanic

15.6% Black

6.4% Asian

2.1% Other

DIVERSITY

ETH

NIC

ITY

Source: Esri, 2018.

29.6% BELOW LARGE

U.S. METRO AVERAGE

FLAT COMPARED TO OVERALL NATIONAL AVERAGE

=

DFW INCOME IS ABOVE NATIONAL AVERAGE

Source: Council for Community and Economic Research (C2ER), Cost of Living Index, April 2018; Fast Reports

DFW METRO

JULY 2016 TO JULY 2017DFW ADDED

+146,238RESIDENTS

+400RESIDENTS PER DAY

=

DFW ADDED THE MOST RESIDENTS OUT OF ANY OTHER U.S. METRO IN 2017

HOUSING MARKET

20,660 SINGLE FAMILY HOME SALES2018 YTD (MARCH)

DFW TRADE SECTORS

$5.90B $3.20 B $2.70 B $1.70 B TRANSPORTATION

EQUIPMENT

Source: Dallas Economic Development Guide 2018

DALLAS, TX

Source: Texas A&M Real Estate Center, April 2018.

$326,266AVERAGE HOME PRICE

April 2018

2 MONTHS OF HOUSING SUPPLY

Y-O-Y (MARCH 2016 TO MARCH 2017) SALES VOLUME INCREASED 5.24%

COMPUTER AND ELECTRONIC PRODUCTS

CHEMICALS MACHINERY, EXCEPT ELECTRICAL

MISC. MANUFACTURED COMMODITIES

$7.20 B


14


OUR QUALITY OF LIFE

31,998 ACRESOF PARK LAND

1,728 MILESOF STREET TRAILS

660+PUBLIC PARKS IN DFW

MORE THAN TWO DOZEN PUBLIC DOG

PARKS

EDUCATION

PARKS & RECREATION

Source: Dallas Parks & Recreation Annual Report - DallasParks.org

Source: http://fortworthtexas.gov/parks/info/

Source: http://sayyestodallas.com/parks-outdoors/its-a-dogs-life/

SPORTS370,899 STUDENTS IN HIGHER EDUCATION

20,114 Dallas 11,884 Fort Worth

393 Dallas273 Fort Worth

232 SUNNY DAYS A

YEAR ON AVERAGE

45,481DEGREES AWARDED ANNUALLY

Cowboys • Mavericks • Rangers • FC Dallas • Stars • Wings • Diamonds

5 SUPERBOWL

WINS

2011 NBS

CHAMPIONSHIPS

2015 & 2016 DIVISION

CHAMPIONSHIPS

2016 US OPEN CUP CHAMPIONS

2016 DIVISION

CHAMPIONS


14,111RESTAURANTS

549BARS

Source: https://bigtex.com/attendance/

Source: Dallaschamber.org/why-dallas

CULINARYLOCAL ATTRACTIONSTATE FAIR

2.25 MILLION2017 ATTENDANCE

$54.5 MILLION2017 REVENUE

RETAIL MARKETRETAIL SALES

$81B

4.3%

RETAIL SALES 2016

Source: Texas Comptroller, 2018

Dallas has a strong consumer base. Retail spending has shown steady growth since 2010.

RETAIL DEVELOPMENT

308,344,247 SFEXISTING RETAIL INVENTORY (SF)

4,871,914 SFUNDER CONSTRUCTION (SF)

SALES TAX REVENUE

YoY Change 3.6%

YoY Change

Source: CBRE Research Q1 2018.

MARKET TRENDS

$15.73PSFWEIGHTED AVG ASKING RATE

RETAIL OCCUPANCYSource: CBRE Research Q1 2018.

2007 90.2%

2007 94.9%

4.7%


15


ACCOLADES & RANKINGS


4 GLOBAL FORTUNE500 COMPANIES

IN THE COUNTRY FOR PERCENT JOB GROWTH (3% GROWTH)

IN THE COUNTRY IN ABSOLUTE JOB GROWTH (98,900)

1

2

#

#

#

#

#

February 2017 - February 2018

TOP 5HOT HOUSING MARKET, 2017

Realtor.com

WORLD’S MOSTCONNECTED AIRPORTS

BEST PLACES TO LIVEDALLAS-FORT WORTH

U.S. News & World Report

1

3

TOP 10Kauffman Foundation

2016 Index of Growth Entrepreneurship

BEST SPORTS CITIES IN THE U.S.

DALLAS-FORT WORTH

3

SPORTS ILLUSTRATED, 2016

OAG AVIATION WORLDWIDE, 2016

2017TOP 20

BEST STATE FORBUSINESS

CHIEF EXECUTIVE MAGAZINE

14 CONSECUTIVEYEARS

TOP 5U.S. DATA CENTER MARKET

3# FOR CORPORATE EXPANSIONSDALLAS-FORT WORTH. 2017

MAGAZINE

TOP METROS FOR TALENT ATTRACTIONEMSI (2017)

#2TOP MOVING DESTINATION

HEALTHIEST HOUSING MARKET CNBC (2017)

PENSKE (2017)

#1 TOP CITY FOR JOBSFORBES (2017-2018)




1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)





1

2

#

#

#

#

#



Realtor.com




1

3




DALLAS-FORT WORTH

3



2017TOP 20



14 CONSECUTIVEYEARS



MAGAZINE




PENSKE (2017)



16


CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Af-filiates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the success-ful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a man-ner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the own-er of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, mar-ket conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qual-ified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not

purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affil-iates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Mem-orandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discus-sions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obli-gation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

DISCLAIMERS


17


Before working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can as-sist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to repre-sent the buyer, usually through a written buyer representation agreement. A buy-er’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act. The broker must obtain the written con-sent of each party to the transaction to act as an intermediary.

Approved by the Texas Real Estate Commission for Voluntary UseTexas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:

(1) shall treat all parties honestly;

(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;

(3) may not disclose that the buyer will pay a price greater than the price sub-mitted in a written offer unless authorized in writing to do so by the buyer; and

(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.

With the parties’ consent, a broker acting as an intermediary between the par-ties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out in-structions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you, you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

INFORMATION ON BROKERAGE SERVICES

EXCLUSIVE MARKETING ADVISORS

JARED AUBREYSENIOR V ICE PRES IDENT+1 214 252 1031ja red .aub rey@cbre . com

M ICHAEL AUSTRYVICE PRES IDENT+1 214 252 1115michae l .aus t r y@cbre . com

OFFER ING MEMORANDUM

C B R E C A P I TA L M A R K E T S


S TA R B U C K S | T- M O B I L E

OFFERING MEMORANDUM CBRE CAPITAL MARKETS …...HEADQUARTERS Bellevue, WA WEBSITE LEASE GURANTOR...

Documents

Transcript of OFFERING MEMORANDUM CBRE CAPITAL MARKETS …...HEADQUARTERS Bellevue, WA WEBSITE LEASE GURANTOR...