Birnbaum Property Company

Transcription

1 Potranco Plaza Hwy 151 & Potranco Road, San Antonio, TX Exclusively offered by: Birnbaum Property Company P.J. Pfeiffer Executive Vice President 200 Concord Plaza, Suite 860 San Antonio, TX (210) Ext. 204

2 Table of Contents I. Executive Summary II. Area Overviews III. Location Map IV. Photos of Center V. Site Plans & Aerial VI. Disclosure & Due Diligence VII. TREC Form

3 Potranco Plaza Executive Summary Address: 8803 Hwy 151, San Antonio, Texas Property Description: This 10,575sf 4-tenant retail investment is located in San Antonio s Westover Hills area, on the Northeast Corner of US Highway 151 & Potranco Rd, with excellent visibility. Built in 2013, the Property is 100% Leased to a diverse mix of Tenants. Two of the leases representing 70% of the GLA have primary lease terms of 10 years, and the other two tenants have 5 year terms. Three of the four tenants have base rent increases during their primary lease terms. Tenants: Western Dental, Total Nutrition, Next Care and Goodwill of San Antonio Western Dental: As California's oldest and most experienced dental and oral health maintenance organization, the Western Dental team includes over 4000 doctors assistant managers administrators and clerical personnel. We provide high-quality affordable dental and oral health care to thousands of people and we are here to serve you. At Western Dental Group, we pride ourselves in making dental care easy. We accept private insurance, offer no interest payment plans and have individual and group plans to make a dental and oral health care convenient and accessible to anyone in California, Arizona, Nevada and Texas. Total Nutrition: Total Nutrition is your number one source for sports nutrition, vitamins and weight loss supplements. Stop into any of our 100 locations nationwide for complementary fitness and diet assessment from one of our certified sports nutrition specialists. Your success is our passion, and we look forward to providing you with the absolute best customer service and information each and every time you visit one of our locations. Next Care: As one of the nation s largest providers of urgent care and occupational medical services, we at Next Care strive to ensure you and your family will experience the highest level of care. We operate more than 100 clinics in Arizona, Colorado, Kansas, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, Texas, Virginia and Wyoming 7 days a week, 365 days a year. Goodwill: Goodwill meets the needs of all jobseekers including programs for youths, seniors, veterans and people with disabilities, criminal backgrounds and other specialized needs. Last year Goodwill helped more than 9.8 million people train for careers in industries such as banking, IT and healthcare to name a few - and get the supporting services they needed to be successful, such as English language training, additional education, or access to transportation and childcare. Goodwill Industries of San Antonio is one of the strongest Goodwills in the country with over $65,000, in total revenue in Investment Overview: The subject property is located on the northwest corner of US Hwy 151 and Potranco Road in the growing area of San Antonio known as Westover Hills. There are 272,000 people with an average household income of over $62,000 within 5 miles of the property. John Paul Stevens High School is located just 1.5 miles west of the subject property, which is one of the largest high schools in San Antonio with almost 4,000 students. Earl Warren High School is about 1.5 miles to the east as well. Additionally, the site is 3 miles from the 250 acre Sea World

4 Amusement Park which is a top tourist attraction in Texas. The subject property is directly across from a soon to be developed HEB grocery anchored development. The retailers that will be surrounding the property include the likes of HEB, YMCA, McDonald's, Raising Canes, Gold s Gym, Wendy's, Pacific Dental, Pollo Tropical, First Choice Emergency, Starbucks, Dunkin' Donuts and others. Demographics 2015: Area Population grew over 28% from , and is projected to grow another 18% by Mile 3 Mile 5 Mile Population 14, , ,879 Households 4,622 40,759 92,249 Avg. HH Income $77,738 $65,837 $66,791 Median Age Traffic Counts: Highway 151 = 97,000 VPD Potranco Rd = 28,000 VPD Price: $5,119, Capitalization Rate: 6.50% Terms: Cash to Seller Tenant Base Rent: $332, Triple Net Charges: Taxes $5.20psf CAM $2.70psf Insurance $0.30psf Total $8.20psf Lot Size: Building: 1.13 Acres 10,575sf Year Built: 2013 Contact: P.J. Pfeiffer Executive Vice President 200 Concord Plaza, Suite 860 San Antonio, TX (210) Ext. 204 ppfeiffer@birnbaumproperty.com

5 Area Overview Westover Hills Overview: Once the site of a visit from Pope John Paul II almost 30 years ago, the far West San Antonio neighborhood of Westover Hills has evolved from a sprawling, master-planned subdivision into one of the city s hot spots for business development. Situated along the Hwy 151 corridor between Potranco Road and Loop 1604, the community is host to Hyatt Hill Country Resort Golf Course and Sea World Amusement Park. Westover Hills has become a hub of sorts, locally, for the development of data centers, as companies such as Microsoft Corp. and Stream Data Centers have made significant investments in the community. Several well-established companies, and even a local utility, have announced plans for development. Frost Bank announced it is developing an office complex that will ultimately accommodate more than 300 employees presently housed at the downtown-based Rand building, which the lender recently sold. The new Frost Bank facility will be built on a 25-acre tract along Rogers Run in Westover Hills. In the same area, some 10 acres of land along Rogers Road already is the site for Frost Bank s $50 million, 71,000-square-foot data center, which opened in Another company and a utility each have a new data center in the works in Westover Hills. CPS Energy is starting work on a $34 million data center meant to replace aging downtown structures that currently house the utility s computer systems. CPS Energy expects to finish constructing its 66,000-square-foot center in April 2015, planning to move computer servers and data-storage equipment from its two present data centers over the rest of the year. The utility s new data center will be located along Richland Hills Drive near State Highway 151. Dallas-based firm CyrusOne has broken ground on a data center, which includes 180,000 square feet of raised floor space, and 22,000 square feet of Class A office space. This project s first phase, slated for completion this summer, will feature a building out of 50,000 square feet of raised floor space and 14,000 square feet of office space. CyrusOne s new data center will be built only a few miles from the firm s first local facility, an 110,000-square-foot structure. Two local hospitals, also, are contributing to Westover Hills commercial growth. In January, Christus Santa Rosa Hospital-Westover Hills opened its third freestanding medical office building, a 70,000-square-foot structure that represents an extra $12 million investment in the neighborhood hospital campus. Representatives from the retailer Kohl s recently appeared at Christus Santa Rosa Hospital-Westover Hills to present a check for more than $112,000 toward the Children s Hospital of San Antonio s Pediatric Mobile Clinic. The money will help support Christus Santa Rosa s provision of free immunizations for children and teenagers in the region.

6 San Antonio Overview: San Antonio (for St. Anthony) is officially the City of San Antonio the seventh largest, most populous city in the United States of America, and the second most populous city in the state of Texas with a population of 1,409,019. It was the fastest growing of the top 10 largest cities in the United States from 2000 to The city is located in the American Southwest, the south central part of Texas and the southwestern corner of an urban region known as the Texas Triangle. San Antonio is home to six fortune 500 companies and the South Texas Medical Center; the only medical research and care provider in the South Texas region. San Antonio serves as the state of Bexar County. The city has characteristics of other western urban centers in which there are sparsely populated areas and a low density rates outside the city limits. San Antonio is the center of the cell The San Antonio - Mew Braunfels Metropolitan Statistical Area commonly referred to as Greater San Antonio. The metropolitan area has a population of 2.27 million based on the 2013 U.S. Census estimate, making it to the 25th largest metropolitan area in the United States and third largest in the state of Texas. Growth along the Interstate 35 and Interstate 10 corridors to the north, west and east make it likely that the metropolitan area will continue to expand. San Antonio was named for St. Anthony of Padua, whose feast day is on June 13 by a 1691 Spanish expedition in the area. It is notable for Spanish colonial missions, the Alamo, the Riverwalk, the Tower of the Americas, the Alamo Bowl, and Marriage Island. Commercial entertainment includes Seaworld and Six Flags Fiesta Texas theme parks, and the city is visited by approximately 26 million tourists per year according to the San Antonio Convention and Visitors Bureau. The city is home to the five time NBA champions San Antonio Spurs and hosts the annual San Antonio Stock Show and Rodeo in one of the largest such events in the country. The US Armed Forces have numerous facilities in San Antonio; Fort Sam Houston, Lackland Air Force Base, Randolph Air Force Base (which constitute Joint Base San Antonio), and Lackland AFB/Kelly Field Annex are within the city, with Camp Bullis and Camp Stanley located just outside the city limits. Kelly Air Force Base operated out of San Antonio until 2001 when the airfield was transferred to Lackland Air Force Base the remaining portions of the baseboard developed as Port San Antonio an industrial/business park.

7 San Antonio, TX Location Map

8 Shopping Center Photos

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10 Shopping Center Site Plan

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13 SITE

14 Enclave at Hausman 229 Aspen Heights 846 Lots Clark HS HELOTES O'Conner Hearthstone 58 Rivermist 865 Lots 10 Huebner Oaks McCrary Tract 4430 Lots Laurel Canyon 462 Falcon Landing 510 Lots MEDINA COUNTY BEXAR COUNTY Potranco Run 550 Lots Wind Gate Ranch 1265 Lots Pettinger Tract 1150 Lots S&P Holdings-250 Acres 250 Lots Stransky Acres 570 Lots Bella Vista 1197 Lots Remuda Ranch 478 Lots Stevens Ranch 6675 Lots Redbird Ranch 6000 Lots Gordon's Grove 229 Lots TRP Res I 48 Ac Ali Tract 600 Lots Saddle Creek Estates 73 Lots TRP Res II 423 Ac Texas Research Park Nickel 200 Lots Kallison Ranch 6298 Lots Park at Cimarron Enclave 57 Lots CitiCorp WestPointe West 3700 Lots WestPointe North 1040 Lots West Oak Estates 208 Sundance 405 Lots Monticello Ranch 540 Lots Weston Oaks 1415 Lots AR Riverstone 1824 Lots Westcreek 4835 Lots Laura Heights 444 Lots Talise de Culebra 500 Lots Stillwater Ranch 1895 Lots Cobblestone 355 Lots AR Hill Country Retreat 2250 Lots Arcadia 2912 Lots Weimer 1693 Lots «151 New Leaf Hms 600 Lots Silver Oaks Lots Alamo Ranch East 1967 Lots WestPointe East 3100 Lots West Pointe East MDP 700 Lots Westcreek East 1804 Paesanos Tract 700 Lots Proposed Milestone Dev 530 Lots Cross Creek 320 Lots Amhurst 928 Lots Weimer 300 Lots Taft Westwinds 1580 Lots Hills of Shaenfield 596 Dove Creek 632 Lots Wildhorse Vista 274 Lots Meadows of Bridgewood 988 vw 1604 Laurel Mountain Ranch 1620 Lots Wells Fargo NORTHWEST VISTA COLLEGE Takata Seatbelts Seaworld Trophy Ridge 533 Lots Stone Creek Westward 728 Lots Pointe 139 Lots Wolf Creek 589 Lots Braunridge 261 Wildhorse at Tausch Farms 877 Lots Microsoft Chase Bank Westover Valley 371 Lowe's Data Center QVC Valero CapitalGroup Frost Bank Hilton Resort Nationwide Hyatt Resort Aviara 186 Lots Westover Medical Park Stevens Maxim Preserve at Park Vista 49 Lots Westover Hills Enclave Westover Hills 265 Chestnut Springs 451 Westbury Place 267 Estonia Estates 714 Lots Enclave at Lakeside 458 Lakeview 347 Lots Pet Co. Grissom Trails 337 Lots Fred Loya Insurance National Security Southwest Biomed Jay Ingram Park Mall Marshall HS LEON VALLEY The Ridge at Leon Valley 0 Wurzbach Heights 90 Lots Holmes NISD Athletic Complex Southwest Research Institute Aspen Park 87 Lots Summerwood Park 126 Lots Ingram Road Subd 124 Lots Canterbury 476 Lots Tierra Del Sol 31 Lots Source: Esri, DigitalGlobe, GeoEye, i-cubed, USDA, USGS, AEX, Getmapping, Aerogrid, IGN, IGP, and the GIS User Marbach Place Community 303 Lots 410 « USAA Health Careers HS South Texas WEST SAN ANTONIO RESIDENTIAL GROWTH LEGEND Birnbaum Property Company Sites Active Single Family Developments Properties in Residential Pre-Planning 100 Year FEMA Floodplain Incorporated Cities County Lines Proposed Thoroughfares ± Miles Aerial Photography of Bexar, Kendall & Comal County 2013 Other Counties provided by ESRI Map & Data prepared for Birnbaum Property Company by Wendell Davis & Associates The information contained herein was obtained from sources believed reliable as of the date of this map. Wendell Davis & Associates makes no guarantees, warranties, or representations as to the completeness or accuracy thereof.

15 Disclosure & Due Diligence Disclosure: All materials and information received or derived from Birnbaum Property Company (BPC) its directors, officers, agents, advisers, affiliates and or any third-party sources, are provided without representation or warranty by BPC, it's directors, officers, agents, advisors or affiliates as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither BPC, its directors, officers, agents, advisors or affiliates makes any representation or warranty, expressed or implied, as to the accuracy or completeness of any materials or information provided derived or received. Materials and information from any source, whether written or verbal that may be furnished for review are not a substitute for a party's active conduct of its own due diligence to determine these and other matters of significance to such party. BPC will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. All Parties Shall Conduct Their Own Independent Investigation and Due Diligence: Any party contemplating or under contract or in escrow and section is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including obtaining and reading applicable documents and reports and consulting appropriate independent professionals. BPC makes no warranties and/or representations regarding the veracity, completeness or relevance of any financial data or assumptions. BPC does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance including that used for financial modeling purposes may differ from actual data or performance. Any estimates of market rent and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations, as well as market conditions vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects and contractors, or other consultants and government agencies. All properties and services are marketed by BPC in compliance with all applicable fair housing and equal opportunity laws.

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