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Ut Physicians Plaza OFFERING MEMORANDUM UT PHYSICIANS PLAZA 3610 Stagg Dr, Beaumont, TX 77701 Click the Icon or Visit https://vimeo.com/269695326/99f115dda9 to View Exclusive Video Presentation Broker of Record: Timothy Speck CONFIDENTIALITY & DISCLAMER THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved. NON - ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. NET- LEASED DISCLAIMER The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased 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. Marcus & Millichap 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 net leased 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 net leased 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 tenant 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 tenant 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 lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant 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 Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property. TABLE OF CONTENTS INVESTMENT01 OVERVIEW PRICING & 02FINANCIAL ANALYSIS DEMOGRAPHICS03 & MARKET OVERVIEW INVESTMENT OVERVIEW01 UT PHYSICIANS PLAZA INVESTMENT HIGHLIGHTS 100 Percent Occupied UT Physicians & Safelite AutoGlass 75 Percent Occupied By UT Physicians | State of Texas Credit (NNN) Both Triple-Net Leases with Management Reimbursed Renovated in 2017 | No Deferred Maintenance Located Off Interstate-10 with Over 140,000 VPD 5 6 7 8 140,970 VPD 9 Shadow Anchored Center (Not Included) 10 The Event Centre Central Senior High School Baptist Hospitals Of Southeast Texas King Middle School SUBJECT PROPERTY Pathways Learning Center Ozen High School 56,237 Residents | 100,203 Employees $57,260 Average Household Income 11 Beaumont Country Club Knife River Corporation Fire Museum of Texas Edison Museum Art Museum of Southeast Texas Beaumont Industrial Area Baptist Hospitals Harbor Island Beaumont Municipal of Southeast Texas Athletic Complex 1,620 employees ExxonMobil Refinery SUBJECT PROPERTY 2,400 acres | Employees: 2040 people Monsignor Kelly & 1000 contractors Catholic High School Lamar University 14,103 enrollment Ozen High School 1,410 employees Spindletop Park Lamar University • Texas Home Health America LP Enrollment: 14,100 • Ozen High School Exxon Mobile Refinery Enrollment: 1,100 • Memorial Hermann Hospital Monsignor Kelly High School 105,694 Residents | 153,637 Employees • Baptist Hospitals of SE Texas Enrollment: 450 $59,981 Average Household Income • Beaumont Refinery 12 265 Miles 13 PRICING & FINANCIAL ANALYSIS02 UT PHYSICIANS PLAZA PRICING DETAIL & OPERATING DATA DEMOGRAPHICS 1-Mile 3-Miles 5-Miles 2017 Estimate Population 4,835 56,237 105,694 2017 Estimate Households 1,769 22,049 40,908 Daytime Population 15,245 100,203 153,637 Average Household Income $44,015 $57,260 $59,981 MAJOR EMPLOYERS EMPLOYER # OF EMPLOYEES Click Here to View Exclusive Video Presentation Texas Home Health America LP 5,540 https://vimeo.com/269695326/99f115dda9 Exxon Mobile Refinery 3,040 Memorial Hermann Baptist Hospital 1,759 THE OFFERING Baptist Hospital of SE Texas 1,700 Beaumont Refinery 1,545 3610 Stagg Drive, Beaumont, TX Dawson Marine Inc 1,000 MAJOR TENANTS SITE DESCRIPTION LEASE LEASE TENANT GLA EXPIRATION TYPE Built | Renovated 1968 | 2017 University of Texas Physicians 12,000 06/30/2027 NNN Gross Leasable Area (GLA) 15,744 SF Safelite AutoGlass 3,744 05/31/2021 NNN Current Occupancy 100% Lot Size +/- .92 Acres Ownership Fee Simple 15 UT PHYSICIANS RENT ROLL AND TENANT LEASE SUMMARY PLAZA Tenant Name (Lease Type) Square Pro-Rata Lease Lease Annual Monthly Annual Base Rent Base Rent Tenant Tenant Description Feet Share Commence Expiration Rent/ SF Base Rent Base Rent Changes On Changes To Option Terms University of Texas Physicians 12,000 76.22% 07/01/2017 06/30/2027 $20.00 $20,000 $240,000 None None Four, Five-Year UT Physicians CAM: Reimburses pro-rata share, 6% cap on increases (excluding utilities & snow removal) (Opt. 1) 07/01/2027 $288,000 Years 11-15 +/- 1,500 Clinicians | Over 80 Taxes: Reimburses pro-rata share (Opt. 2) 07/01/2032 $312,000 Years 16-20 medical specialties and subspecialties, provides multi- Insurance: Reimburses pro-rata share (Opt. 3) 07/01/2037 $336,000 Years 21-25 specialty care. UT Physicians Management: Management expense cannot exceed 4% of gross rental income (Opt. 4) 07/01/2042 $360,000 Years 26-30 help patients needing urgent, highly complex care. Other: None Safelite AutoGlass 3,744 23.78% 06/01/2011 05/31/2021 $12.00 $3,744 $44,928 None None One, Five-Year Safelite Fulfillment, Inc. CAM: Reimburses pro-rata share, 2% cap on increases (excluding utilities & snow removal) (Opt. 1) 06/01/2021 $48,672 Years 11-15 +/- 720 Locations | Over 70 Taxes: Reimburses pro-rata share years of service, Safelite knows auto glass and have Insurance: Reimburses pro-rata share grown to be the largest auto Management: Management expense cannot exceed 5% of total common area expenses glass specialist in the United States. Other: None Total Occupied 15,744 100.00% $23,744 $284,928 Total Vacant 0 0.00% $0 $0 Totals 15,744 100.00% $23,744 $284,928 1616 TENANT OVERVIEW ABOUT UT PHYSICIANS With more than 1,500 clinicians certified in more than 80 medical specialties and subspecialties, UT Physicians provides multi-specialty care for the entire family. UT Physicians helps patients needing urgent, highly specialized or complex care and also provides high-quality, wellness-oriented primary care for routine illnesses and maintenance of good health. Affiliated with the John P. and Kathrine G. McGovern Medical School at The University of Texas Health UT Physicians among the Science Center at Houston (UTHealth), UT Physicians health care providers are internationally recognized for leading-edge medical research and treatment. Many are among the Woodward-White Woodward-White “Best “Best Doctors in America.” UT Physicians and McGovern Medical School are national leaders in research, education and clinical excellence. Doctors in America.”
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