Post on 06-Aug-2020
transcript
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PROPERTY INFORMATION 3
LOCATION INFORMATION 7
FINANCIAL ANALYSIS 13
SALE COMPARABLES 18
RENT COMPARABLES 23
DEMOGRAPHICS 28
ContentsConfidentiality & DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichapand should not be made available to any other person or entity without the written consent ofMarcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in thesubject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes nowarranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of theproperty and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of theimprovements thereon, or the financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property. The informationcontained 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 containedherein, nor has Marcus & Millichap conducted any investigation regarding these matters andmakes no warranty or representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verify all of theinformation set forth herein.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant orlessee identified in this marketing package. The presence of any corporation’s logo or name is notintended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporationof Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commerciallisting of Marcus & Millichap, and is solely included for the purpose of providing tenant lesseeinformation about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
TABLE OF CONTENTS
Section 1 PROPERTY INFORMATION
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DEMOGRAPHICS 1 MILE 3 MILES 5 MILES
Total Households 4,905 40,978 115,888
Total Population 11,421 102,841 315,484
Average HH Income $75,973 $76,173 $73,375
PROPERTY OVERVIEW
Marcus & Millichap is please to offer the opportunity to acquire a value-add, 38,400-square foot, multi-tenant retail flex
center located in Arlington, Texas.
OFFERING SUMMARY
Sale Price: $3,535,000
Building Size: 38,400 SF
Available SF: 7,200 SF
Lot Size: 2.6 Acres
Price / SF: $92.06
Cap Rate: 9.0%
Current NOI: $318,106
Pro Forma Cap Rate: 11.72%
Pro Forma NOI: $414,396
Year Built: 1974
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
PROPERTY INFORMATION | EXECUTIVE SUMMARY
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PROPERTY DESCRIPTION
Marcus & Millichap is please to offer the opportunity to acquire a value-add, 38,400-square
foot, multi-tenant retail flex center located in Arlington, Texas. Campo Verde Square is
comprised of two multi-tenant buildings and one single-tenant building and is situated on
2.6 acres. The center is 81 percent occupied, providing potential upside by leasing the vacant
space. The center is anchored by Campo Verde Mexican Restaurant, which occupies 25
percent of the gross leaseable area. Other tenants include World Broadcasting Systems,
Restoring Faith Ministries, Joseph Williams, Daniel Darkwah, Albella Estupinan, Ana E
Portillo, Mi Despensa Latina, Pioneer Gold, Tyler L. Carver, Zahwee Thornton, and Raed
Barber.
LOCATION DESCRIPTION
Campo Verde Square is located on the south side of West Pioneer Parkway at the signalized
intersection with Roosevelt Drive. Traffic counts in front of the property are approximately
25,000 vehicles per day. The property is in close proximity to many national retailers
including Walmart Neighborhood Market, Walgreens, Jack in the Box, Kentucky Fried
Chicken, AutoZone, Kroger, Chuck E. Cheese's, CVS Pharmacy, Big Lots!, Dollar General,
Wingstop, Advance Auto Parts, Party City, Half Price Books, Aaron's, Planet Fitness and
many more. The surrounding area is densely populated with more than 315,845 residents
within five miles of the property. The five-mile average household income is $73,375.
The City of Arlington is a business-friendly city, situated in the center of the Dallas/Fort
Worth Metroplex. The city has devoted over 100 square miles of space to business, including
five business parks, and continues to attract high-quality businesses. Home to the University
of Texas at Arlington, Six Flags over Texas, AT&T Stadium and the Texas Rangers, Arlington
has become a center for family entertainment, educational excellence, cultural resources
and events, attracting more than eight million visitors annually. Arlington is positioned
halfway between Dallas and Fort Worth, just eight miles from Dallas/Fort Worth
International Airport, and is the third largest city in North Texas.
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
PROPERTY INFORMATION | PROPERTY DESCRIPTION
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BUILDING INFORMATION
Occupancy % 81%
Tenancy Multiple
Year Built 1974
County Tarrant
Ownership Type Fee Simple
PROPERTY HIGHLIGHTS• 38,400-Square Foot, Multi-Tenant Retail Flex Center
• Value-Add Opportunity with Tremendous Upside Potential
• Center is Currently 81% Occupied with a Mix of Triple-Net and Gross Leases | ProForma Cap Rate is 11.72%
• Current Rents are Below Market
• Anchored by Campo Verde Mexican Restaurant | Long-Term Tenant that has Been in theCenter More than 26 Years
• Property Consists of Three Buildings Situated on 2.6 Acres
• Priced at $92 per Square Foot | Well Below Replacement Value
• Signalized, Hard Corner Location at the Intersection of West Pioneer Parkway andRoosevelt Drive | Traffic Counts are 25,000 Vehicles Per Day in Front of the Property
• Easily Accessible with Multiple Ingress and Egress Points
• Well-Positioned in a Densely Populated Area with a Five-Mile Population Exceeding316,320 Residents
• The City of Arlington is the Third Largest City in North Texas and Attracts More thanEight Million Visitors Annually
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
Section 2 LOCATION INFORMATION
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Campo Verde Square, TX
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
LOCATION INFORMATION | REGIONAL MAP
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
LOCATION INFORMATION | LOCATION MAPS
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
LOCATION INFORMATION | AERIAL MAPS
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
LOCATION INFORMATION | AERIAL MAPS
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
LOCATION INFORMATION | AERIAL MAPS
Section 3 FINANCIAL ANALYSIS
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INVESTMENT OVERVIEW CURRENT PRO FORMA
Price $3,535,000 $3,535,000
Price per SF $92.06 $92.06
Cash-on-Cash Return (yr 1) 9.0 % 11.72 %
Total Return (yr 1) $318,106 $414,396
OPERATING DATA CURRENT PRO FORMA
Gross Income $467,064 $563,354
Operating Expenses $148,958 $148,958
Net Operating Income $318,106 $414,396
FINANCING DATA CURRENT PRO FORMA
Down Payment $3,535,000 $3,535,000
Loan Amount All Cash All Cash
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
FINANCIAL ANALYSIS | FINANCIAL SUMMARY
*Total base rent is based on the future base rent of $363,996 as of 11/01/2020. Current actual rent is $359,796.00. Seller shall credit Buyer the monthly rent differential on a pro rata basis, at closing.
INCOME SUMMARY CURRENT PER SF PRO FORMA PER SF
Base Rent $363,996 $11.67 $363,996 $11.67
Vacant Space at Market Rents $0 $0.00 $50,400 $7.00
Real Estate Taxes Reimbursements $70,854 $1.85 $103,000 $2.68
Insurance Reimbursements $8,117 $0.21 $11,800 $0.31
Common Area Maintenance Reimbursements $13,091 $0.34 $18,158 $0.47
Management Fee Reimbursements $11,006 $0.29 $16,000 $0.42
Gross Income $467,064 $12.16 $563,354 $14.67
EXPENSE SUMMARY CURRENT PER SF PRO FORMA PER SF
Real Estate Taxes $103,000 $2.68 $103,000 $2.68
Insurance $11,800 $0.31 $11,800 $0.31
Utilities $7,865 $0.20 $7,865 $0.20
Repairs & Maintenance $10,293 $0.27 $10,293 $0.27
Management Fee $16,000 $0.42 $16,000 $0.42
Gross Expenses $148,958 $3.88 $148,958 $3.88
Net Operating Income $318,106 $8.28 $414,396 $10.79
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
FINANCIAL ANALYSIS | INCOME & EXPENSES
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
% OFGLA
LEASESTART
LEASEEND
ANNUALRENT
ESCDATE
PRICEPER YEAR
LEASETYPE
EXPENSEREIMBURSEMENT
World Broadcasting System 2110-A 1,200 3.13 $8,400 $7.00 Gross
Vacant 2110A-2 2,400 6.25
Restoring Faith Ministries (1) 2110-B 2,400 6.25 2/01/19 6/30/24 $21,000
*5/1/2021
*6/1/2022
*7/1/2023
$8.75
$9.00
$9.25
$9.50
Gross
Joseph Williams 2110-C 1,200 3.13 8/26/17 9/30/20 $7,200 $6.00 NNN $4,662.39
Joseph Williams 2110-D 1,200 3.13 8/26/17 9/30/20 $7,200 $6.00 NNN $4,662.39
Joseph Williams 2110-E 1,200 3.13 9/15/16 9/30/20 $7,200 $6.00 NNN $4,662.39
Vacant 2110-F 2,400 6.25
Daniel Darkwah 2114-A 3,600 9.38 6/10/19 7/31/20 $30,000 $8.33 NNN $13,972.26
Vacant 2114-B 2,400 6.25
Albella Estupinan 2114-C 2,400 6.25 2/01/19 1/31/23 $19,200
2/1/2021
2/1/2022
$8.00
$8.50
$9.00
NNN $9,309.88
Ana E Portillo 2114-D 1,200 3.13 11/01/18 10/31/22 $9,000
11/1/2021
$7.50
$8.00
NNN $4,662.39
Mi Despensa Latina 2114-E 1,200 3.13 10/10/19 10/31/22 $9,600 $8.00 MG $600.00
(1) Tenant has free rent in April 2021, May 2022, and June 2023.
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
FINANCIAL ANALYSIS | RENT ROLL
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
% OFGLA
LEASESTART
LEASEEND
ANNUALRENT
ESCDATE
PRICEPER YEAR
LEASETYPE
EXPENSEREIMBURSEMENT
Pioneer Gold 2900 1,200 3.13 5/01/11 MTM $36,876 $30.73 NNN $4,662.39
Tyler L. Carver 2902 2,400 6.25 9/13/19 9/30/26 $36,000 $15.00 NNN $9,309.88
Vacant 2906 1,200 3.13
Zahwee Thornton 2908 1,200 3.13 8/09/19 7/31/22 $16,800
8/1/2021
$14.00
$15.00
NNN $4,662.39
Barber 2910 1,200 3.13 4/10/17 3/31/20 $16,800 $14.00 NNN $4,662.39
Campo Verde Restaurant 2912-18 9,600 25.0 1/01/93 12/31/22 $138,720 $14.45 NNN $37,239.50
Totals/Averages 39,600 $363,996 $9.19 $103,068.25
*Total annual rent is based on the future base rent of $363,996 as of 11/01/2020. Current actual rent is $359,796.00. Seller shall credit Buyer the monthly rent differential on a pro rata basis, at closing.
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
FINANCIAL ANALYSIS | RENT ROLL
Section 4 SALE COMPARABLES
SUBJECT PROPERTY
2900 West Pioneer Parkway | Arlington, TX 76013
$3,535,000Sale Price: 2.6 ACLot Size:
1974Year Built: 38,400 SFBuilding SF:
$92.06Price PSF: 9.0%Cap:
$318,106NOI:
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COLLEGE PLAZA
1302 South Cooper Street | Arlington, TX 76013
$1,730,000Sale Price: 0.825 ACLot Size:
1975Year Built: 6,590 SFBuilding SF:
$262.52Price PSF: 5.26%CAP:
08/30/2017Closed: 100%Occupancy:
Pacesetters Staffing, Cheers Fitness, Cheers Nutrition, Chicago's ChickenCoop
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RED BIRD PLAZA SHOPPING CENTER
4099 West Camp Wisdom Road | Dallas, TX 75237
$1,200,000Sale Price: 4.22 ACLot Size:
1984Year Built: 25,340 SFBuilding SF:
$47.36Price PSF: 5.63%CAP:
01/07/2019Closed: 100%Occupancy:
Aaron's
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
SALE COMPARABLES | SALE COMPS
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BACHMAN CORNER SHOPPING CENTER
3021 Bachman Drive | Dallas, TX 75220
$1,686,500Sale Price: 0.71 ACLot Size:
2005Year Built: 5,548 SFBuilding SF:
$303.98Price PSF: 7.03%CAP:
12/14/2018Closed: 90%Occupancy:
Baja Insurance, GI Insurance & Tax, Empowered by Team Beauty
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PARK VISTA RETAIL
5040 North Tarrant Parkway | Fort Worth, TX 76244
$3,150,000Sale Price: 1.77 ACLot Size:
2003Year Built: 16,760 SFBuilding SF:
$187.95Price PSF: 7.71%CAP:
10/01/2018Closed: 87.5%Occupancy:
Donuts, Galactic Games, Ginger Root, Jet's Pizza, Lifetime Dentistry, VelvetBox, Lux Nail Spa
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MEADOWBROOK EAST
6605-6719 Meadowbrook Drive | Fort Worth, TX 76112
$2,825,000Sale Price: 5.346 ACLot Size:
1960Year Built: 49,151 SFBuilding SF:
$57.48Price PSF: 7.84%CAP:
12/19/2017Closed: 75%Occupancy:
Family Dollar, AutoZone, The Dock Bookshop, Kingdom Ministry, Metro PCS,Papa John's Pizza
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
SALE COMPARABLES | SALE COMPS
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP
Campo Verde Square
2900 West Pioneer Parkway
Arlington, TX 76013
$3,535,000 38,400 SF $92.06 9.0%
SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE
College Plaza1302 South Cooper Street
Arlington, TX 76013
$1,730,000 6,590 SF $262.52 5.26% 08/30/2017
Red Bird Plaza Shopping Center4099 West Camp Wisdom Road
Dallas, TX 75237
$1,200,000 25,340 SF $47.36 5.63% 01/07/2019
Bachman Corner Shopping Center3021 Bachman Drive
Dallas, TX 75220
$1,686,500 5,548 SF $303.98 7.03% 12/14/2018
Park Vista Retail5040 North Tarrant Parkway
Fort Worth, TX 76244
$3,150,000 16,760 SF $187.95 7.71% 10/01/2018
Meadowbrook East6605-6719 Meadowbrook Drive
Fort Worth, TX 76112
$2,825,000 49,151 SF $57.48 7.84% 12/19/2017
PRICE BLDG SF PRICE/SF CAP CLOSE
Totals/Averages $2,118,300 20,678 SF $102.44 6.69%
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
SALE COMPARABLES | SALE COMPS SUMMARY
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2900 West Pioneer Parkway | Arlington, TX 76013SUBJECT PROPERTY
1 1302 South Cooper Street
Arlington, TX 76013
COLLEGE PLAZA 24099 West Camp Wisdom Road
Dallas, TX 75237
RED BIRD PLAZA SHOPPINGCENTER 3
3021 Bachman Drive
Dallas, TX 75220
BACHMAN CORNER SHOPPINGCENTER 4 5040 North Tarrant Parkway
Fort Worth, TX 76244
PARK VISTA RETAIL
5 6605-6719 Meadowbrook Drive
Fort Worth, TX 76112
MEADOWBROOK EAST
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
SALE COMPARABLES | SALE COMPS MAP
Section 5 RENT COMPARABLES
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SUBJECT PROPERTY
2900 West Pioneer Parkway | Arlington, TX 76013
$7.00 SF/YRLease Rate: NNNLease Type:
7,200 SFSpace Size: 1974Year Built:
2.6 ACLot Size:
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1700 WEST PARK ROW DRIVEArlington, TX 76013
$12.00 SFLease Rate: NNNLease Type:
4,250 SFSpace Size: 1985Year Built:
12,566 SFBldg Size: 0.96 ACLot Size:
66.2%Occupancy:
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2400 WEST PIONEER PARKWAYPantego, TX 76013
$12.00 SFLease Rate: NNNLease Type:
4,750 SFSpace Size: 1985Year Built:
86,550 SFBldg Size: 8.35 ACLot Size:
98%Occupancy:
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
RENT COMPARABLES | RENT COMPS
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3
4000 WEST PIONEER PARKWAYArlington, TX 76013
$13.00 SFLease Rate: NNNLease Type:
2,750 SFSpace Size: 2005Year Built:
7,519 SFBldg Size: 0.6 ACLot Size:
63.4%Occupancy:
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2504 WEST PARK ROW DRIVEPantego, TX 76013
$14.00 SFLease Rate: NNNLease Type:
1,600 SFSpace Size: 1979Year Built:
15,660 SFBldg Size: 1.4 ACLot Size:
89.8%Occupancy:
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1525 SOUTH BOWEN ROADPantego, TX 76013
$15.00 SFLease Rate: NNNLease Type:
14,350 SFSpace Size: 1971Year Built:
64,904 SFBldg Size: 5.26 ACLot Size:
77.9%Occupancy:
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
RENT COMPARABLES | RENT COMPS
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SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Campo Verde Square
2900 West Pioneer Parkway
Arlington, TX 76013
$7.00 SF/yr (NNN) 7,200 SF 38,400 SF 81.25%
RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Park Row Shopping Center1700 West Park Row Drive
Arlington, TX 76013
$12.00 4,250 SF 12,566 SF 66.2%
Four Seasons Plaza2400 West Pioneer Parkway
Pantego, TX 76013
$12.00 4,750 SF 86,550 SF 98%
The Shops at Springs Crossing4000 West Pioneer Parkway
Arlington, TX 76013
$13.00 2,750 SF 7,519 SF 63.4%
Park Place2504 West Park Row Drive
Pantego, TX 76013
$14.00 1,600 SF 15,660 SF 89.8%
The Towers1525 South Bowen Road
Pantego, TX 76013
$15.00 14,350 SF 64,904 SF 77.9%
PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Totals/Averages $13.20 5,540 SF 37,440 SF 79.06%
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
RENT COMPARABLES | RENT COMPS SUMMARY
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1 1700 West Park Row DriveArlington, TX 76013
PARK ROW SHOPPING CENTER 2 2400 West Pioneer ParkwayPantego, TX 76013
FOUR SEASONS PLAZA 3 4000 West Pioneer ParkwayArlington, TX 76013
THE SHOPS AT SPRINGS CROSSING 4 2504 West Park Row DrivePantego, TX 76013
PARK PLACE
5 1525 South Bowen RoadPantego, TX 76013
THE TOWERS
2900 West Pioneer Parkway | Arlington, TX 76013SUBJECT PROPERTY
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
RENT COMPARABLES | RENT COMPS MAP
Section 6 DEMOGRAPHICS
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POPULATION 1 MILE 3 MILES 5 MILES
Total Population 11,421 102,841 315,484
Median age 39.3 37.5 35.9
Median age (Male) 37.8 36.2 34.8
Median age (Female) 40.7 38.7 36.9
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 4,905 40,978 115,888
# of persons per HH 2.3 2.4 2.7
Average HH income $75,973 $76,173 $73,375
Average house value $180,278 $174,304 $156,583
ETHNICITY (%) 1 MILE 3 MILES 5 MILES
Hispanic 14.2% 19.8% 27.5%
RACE 1 MILE 3 MILES 5 MILES
% White 77.2% 73.2% 67.1%
% Black 15.8% 15.5% 22.3%
% Asian 3.1% 7.7% 7.1%
% Hawaiian 0.2% 0.1% 0.2%
% American Indian 0.7% 0.8% 0.9%
% Other 3.0% 2.7% 2.7%
* Demographic data derived from CoStar Realty Information Gorup
Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT
Population Density
2.5 K 3 K 4 K 4.5 K 7.5 K
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Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013
DEMOGRAPHICS | POPULATION DENSITY
INFORMATION ABOUT BROKERAGE SERVICES Texas 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;• 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 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 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.
Information available at www.trec.texas.gov Regulated by the Texas Real Estate Commission IABS 1-0
11-2-2015
Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Buyer/Tenant/Seller/Landlord Initials Date
Marcus & Millichap 9002994 tim.speck@marcusmillichap.com 972-755-5200
Tim A. Speck 432723 tim.speck@marcusmillichap.com 972-755-5200