Micha van Marcke, CCIM

Transcription

1 FORECLOSURE - LENDER OWNED OFFERED FOR SALE Total GLA - 11,880 SF Location South Sugar Road, Edinburg, Texas Sales Price - AUCTION.COM Property is Offered on a No Representation or Warranty, As-Is Basis PROPERTY INFO University Plaza is an 11,880 SF single story, multi-tenant retail shopping center located near the southwest corner of the lighted intersection of West University Drive and South Sugar Road in Edinburg, Hidalgo County, Texas. The center was built in 2004, has high parapet walls, a stucco façade and concrete parking lot. The center is also shadow anchored by one of only two Walmart Supercenters in the area and is located at a primary drive into the Walmart. University Plaza is situated on acres of land across from The University of Texas Pan American Campus, and the center is within the retail hub for Edinburg. Micha van Marcke, CCIM Micha.vanMarcke@transwestern.net The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice. Transwestern Houston 1900 West Loop South, Suite 1300 Houston, Texas P: F:

2 INVESTMENT HIGHLIGHTS Foreclosure - Lender Owned Walmart Supercenter Shadow Anchored 50% Occupied - Tremendous Buyer Upside Situated on the Main Drive into The University of Texas - Pan American Campus Located in Expanding Trade Area Driven by Growth of the University and Medical Building Depths Allow for a Multitude of Tenant Uses Recent Construction Both Vacant Spaces are Built-Out and in Good Condition 4,000 SQ FT Second Generation Restaurant Space with Drive-Thru Capability 1,920 SQ FT Second Generation Space AREA RETAILERS The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

3 University Plaza INVESTMENT OVERVIEW Investment Overview Seller: Property Name: Property Address: Location: JPMCC 2005-LDP2 SUGAR ROAD, LLC University Plaza 321 South Sugar Road Edinburg, Texas Center is located near the Southwest corner of the lighted intersection of West University Drive and South Sugar Road within the retail hub of the Edinburg, Hidalgo County, Texas Land Area: 1.05 SQFT Construction: Recent Total Net Leasable Area: 11,880 SQFT Year Built: 2004 Area Retailers: Area Employers: Leased: 50.2% NOI (Current): $69,221 Walmart Supercenter, Staples, H-E-B, Lowe's, Aaron's, McCoy's University of Texas - Pan American, Edinburg Regional Medical Center, Edinburg ISD Sales Price: AUCTION.COM Property is Offered on a No Representation or Warranty, "As-Is" Basis Debt: All Cash Preferred The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

4 EDINBURG OVERVIEW Edinburg is considered the educational and technological capital of a Texas-Mexico border region. With a population of more than 2 million, this region has the highest concentration of people between the ages of 18 and 24 in North America. Edinburg is located in the Rio Grande Valley, a four-county area that has a larger population than South Dakota, Delaware, North Dakota, Vermont, Alaska, and Wyoming. With a land area of 11,122,712 square UNIVERSITY kilometers, the PLAZA Rio Grande Valley is almost twice the size of Delaware and four times the size of Rhode Island. Edinburg is the county seat of Hidalgo, the seventh largest county in Texas and is home to the University of 321 Texas-Pan SOUTH American, SUGAR ROAD the state s EDINBURG tenth largest,, TX public university. Centrally located within one of the largest trade corridors in the world, Edinburg is also the gateway to U.S. 281, which is being transformed in to Interstate 69 or the NAFTA Highway. In 1999, more than 54% of all trade between Mexico and the United States made its way through FOR LEASE South Texas ports of entry. The ability to market and sell both North and South from a central location is key to the international trade created by NAFTA. As the markets open to Mexico and Central and South America, companies PROPERTY INFORMATION are looking for the most strategic location from which to distribute their products. The Edinburg-McAllen area has Walmart anchored center located in the heart of become Edinburg, the primary TX site for companies to set up operation on the United States/Mexico Border. Furthermore, the Mexico Area International retailers include: Bridge Staples, has Lowes, 12,530,565 McCoy s and annual crossings, making it one of the largest ports of entry in the state of Texas. Aaron s AVAILABLE: The 4,000 local sf economy second generation is growing restaurant more diversified, on end cap with the city s health-care sector growing rapidly. Edinburg Regional with Medical drive thru Center capability employees (will subdivide) 3,000 and is the largest hospital in the Edinburg-McAllen area. Additionally, the University 1,920 sf of second Texas- generation Pan American in-line space increases the population by 17,000 students each school year while providing jobs CO-TENANTS for 2,850 employees. INCLUDE: Under the sponsorships of The University of Texas System, Edinburg will soon open the first Hungry major Medical Howie s Pizza, Research Check N Center Go, A-1 along Cleaners the U.S.- Mexico border. and Pro Nails (Edinburg ECONOMIC EDC 2012) INFORMATION: Please call to discuss DEMOGRAPHICS 2011 AGS Estimates 1-mile 3-miles 5-miles Population 16,599 67, ,363 Avg HH Income $44,242 $53,502 $57,903 TRAFFIC COUNTS 2010 TxDotAADT 1-mile Population 16,599 W University Dr West of Sugar Rd 33,000 cpd W University Dr East of Sugar Rd Avg HH Income 28,000 cpd $44,242 WALMART SHADOW ANCHORED CENTER For Information, contact: Micha van Marcke, CCIM Micha.VanMarcke@transwestern.net Vanessa Barfuss vanessa.barfuss@transwestern.net DEMOGRAPHICS TRAFFIC COUNTS W Univeristy Dr West of Sugar Rd W Univeristy Dr East of Sugar Rd R The information provided herein was obtained from sources believed reliable, reliable. however, However, Transwestern Commercial makes no guarantees, Services makes warranties no guarantees, or representation warranties as to or the representations completeness as or to accuracy the completeness thereof. The or accuracy presentat property subject to is errors, submitted omissions, subject change to errors, of omissions, price or conditions, change of prior price sale or or conditions, lease, or withdrawal prior to sale without or lease, notice. or with drawl without notice. The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

5 University Plaza UNIVERSITY 321 South PLAZA Sugar Road Edinburg, Texas PROJECTED Projected Annualized ANNUALIZED Operating OPERATING Statement STATEMENT Current Pro Forma Base Rent Occupied Space 96,701 96,701 Vacant Market(1) - 88,800 Gross Potential Rent 96, ,501 Total Reimbursements 27,665 55,145 Gross Income 124, ,646 Less: General Vacancy 5.0% - 11,667 Effective Revenue 124, ,979 Reimbursable Operating Expenses CAM 15,676 15,676 Real Estate Taxes 27,667 27,667 Insurance 5,802 5,802 Utilities 6,000 6,000 Total Reimbursements 55,145 55,145 Non-Reimbursable Expenses Common Areas - - Total Non- Reimbursable Expenses - - Net Operating Income $69,221 $173,834 Notes: (1) Market rents and NNN expenses are estimated at $15.00/sqft & $4.64/sqft, respectively. The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

6 SUITE TENANT SQ. FT. 301 A-1 Dry Cleaners 1, Check N Go 1, Pro Nails 1, Hungry Howie s Pizza 1, Available 1, Available 4,000 A-1 Dry Cleaners 1,490 SF Check N Go 1,490 SF Pro Nails 1,490 SF Hungry Howie s Pizza 1,490 SF SUITE 317 1,920 SF SUITE 319 4,000 SF (Former Restaurant) ENTRANCE TO WALMART S. SUGAR RD The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

7 The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

8 The information provided herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.

9 EQUAL HOUSING Approved by the Texas Real Estate Commission for Voluntary Use Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. Information About Brokerage Services efore working with a real estate broker, you should Bknow 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 assist 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 represent the buyer, usually through a written buyer representation agreement. A buyer 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 consent of each party to the transaction to act as an intermediary. 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 submitted 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 parties 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 instructions 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. Buyer, Seller, Landlord or Tenant Date Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas or OPPORTUNITY 01A TREC No. OP-K

10 Transwestern Houston 1900 West Loop South, Suite 1300 Houston, Texas P: F: