AUDRA HEIGHTS 1200-1415 BAYFIELD DRIVE DENTON, TX 76020
Mark Allen Senior Director 972.865.6328 [email protected]
Ryan Hanson Senior Analyst 972.382.9936 [email protected] PROPERTY OVERVIEW 3 Executive Summary Property Overview Amenities Additional Photos Aerial Photos
FINANCIAL OVERVIEW 10 Unit Mix Financial Analysis Trending Valuation IRR Deferred
LOCATION OVERVIEW 15 Regional Maps Area Attraction Map Schools Area Highlights Economic Drivers
RENT COMPARABLES 20
DFW IN THE NEWS 26
DEMOGRAPHICS 35
ABOUT SVN® 45 Advisor Bios
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 OFFERING MEMORANDUM 1. PROPERTY OVERVIEW
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 3 Executive Summary
PROPERTY OVERVIEW SVN | Investment Sales Group is pleased to announce the exclusive listing of Audra Heights in Denton, TX, which presents investors with a unique opportunity to acquire a stable, Class A property. Audra Heights is a community of 36 duplexes constructed from 2010 to 2017 (Avg. 2014). Each unit is three bedrooms and two and one half bathrooms between 1,550 and 1,706 square feet. These modern units all include open floor plans, stainless steel appliances, granite countertops, dishwashers, microwaves, in-unit washer/dryer, fenced in backyard, and an attached garage. The units have individual HVAC units and electric water heaters, and are individually metered for electricity and water.
CBS News rank ordered the strongest economic growth counties over the next five years, and Denton county was listed as #1. Also, according to the U.S. Census, Denton county is listed as a top 10 county for population growth. Audra Heights is located right off Loop 288 within 1.7mi and 3.1mi from Texas Women’s University and the University of North, respectively. The largest employers in the area are: Peterbilt Motors, Texas Health Presbyterian, Medical City – Denton, Sally Beauty Company Inc., and Safran Electrical and Power. PROPERTY SUMMARY The current owner-manager is achieving $1600 per unit on all renewals and new leases; however, upon examining the rent comparables, average market rents being achieved are SALE PRICE: Market $1.02/sqft or $1,728. This equates to a $.09/sqft or $157 per unit delta to Audra Heights, NUMBER OF UNITS: 72 as our in-place rents average $.93/sqft or $1539. In addition, all units come with washer/dryer appliances, in which the owner-manager recently started renting to tenants RENTABLE SF: 119,748 SF for $50/unit/mo. Assuming a 75% penetration across the property, this appliance rental income provides $32,400 in additional income. The opportunity for additional operational LOT SIZE: 5.274 Total Acres (0.073 efficiencies, coupled with Denton outpacing DFW average rent growth at 4% in the past Average Acres Per Lot) year (ALN 3Q18), provides an investor immediate opportunity to increase value. YEAR BUILT: 2010 – 2017 (2014 Avg.) PROPERTY HIGHLIGHTS ZONING: Residential • Property remains fully occupied with a waiting list (currently 100% occupied) MARKET: Dallas-Fort Worth-Arlington • Below market rents; $0.09/sqft or $157 per unit discrepancy • ~40% student concentration; potential for by-the-bed conversion for additional rental SUBMARKET: Denton income • In-unit washer/dryers; Proven appliance package rental for future income growth CROSS STREETS: Audra Lane & Bayfield Drive • Attractive financing already in-place from Fannie Mae; a $9.4MM loan with a 10 year term amortized over 30 years with an interest rate of 4.78%
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 4 Property Overview
Site Description Construction Property Name: Audra Heights Year Built: 2010 – 2017
County: Denton # of Buildings: 36 (2 Units Per Building)
CAD Account #: Individually Deeded (# 622364 – 633648) # of Stories: 2
# of Units: 72 Foundation: Concrete Slab
Lot Size: 5.274 Total Acres (0.073 Average Acres Per Lot) Framing: Wood
Density: 13.65 Units Per Acre Roof: Pitched Composition Shingle
Rentable SF: 119,748 SF (1,663 Average SF Per Unit) Building Exterior: Brick and Hardy Siding
Building Class: A Parking: 1 Car Garage + 2 Driveway Spots Per Unit
Zoning: Residential
Laundry: Washers & Dryers In Each Unit ($50/month on Mechanical Systems new leases and renewals) HVAC: Individual Electric
Heat: Individual Electric
Hot Water: Individual Electric Utility | Metering Electrical Wiring: Copper Electricity: Individually Metered | Paid by Tenant
Water/Sewer: Individually Metered | Paid by Tenant
Gas: N/A Staff Management & Managed remotely | 2 x maintenance/lawn at Trash: Curbside Pick-Up Through the City of Denton | Maintenance: $2000/month/each Paid by Resident
RUBS: N/A
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 5 Amenities
UNIT AMENITIES
- Fully Equipped Kitchens with Electric Ranges/Ovens - Stainless Steel Appliances - Double Stainless Steel Sinks with Disposals - Granite Countertops - Oversized Pantries - Vinyl Plank “Wood Look” Flooring in Living and Wet Areas and Neutral Carpet in Bedrooms - Ceiling Fans in Living Areas and Bedrooms - 1-Inch Faux Wood Blinds - Full-Size Washers and Dryers - One Car Garages - Private Driveways - Sprinkler Systems - Fenced In Backyards
AREA AMENITIES
- Located just 3 ½ miles from the University of North Texas which has a current undergraduate enrollment of 31,209 students and is the city’s largest employer with 4,533 employees. Texas Woman’s University, which has a current enrollment of 9,395 undergraduate students, is less than 2-miles from the property and is the city’s 4th largest employer with 1,778 employees. - Within walking distance of two Denton County Transportation Authority (DCTA) bus stops which provide service along US-380 between I-35W and Loop 288, and south on Loop 288 from US-380 to I-35E. The route connects to the Downtown Denton Transit Center which gives passengers the option to utilize the A-train, a 21-mile regional rail system that connects Denton to Downtown Dallas, the Medical District, Fair Park, and more. - Within 1-mile of Dairy Queen, Home Zone Furniture, Pizza Hut, RaceTrac, Sonic Drive-In, and Subway, while substantial retail is located less than 3-miles south of the property at Loop 288 and I-35E including ALDI Grocery, Bed Bath & Beyond, Best Buy, Buffalo Wild Wings, Chick-fil-A, Chipotle Mexican Grill, CVS Pharmacy, Golden Triangle Mall, Home Depot, Kroger, LA Fitness, Lowe’s Home Improvement, Office Depot, PetSmart, Starbucks, Target, and Walmart
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 6 Additional Photos
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 7 Additional Photos
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 8 Aerial Photos
Downtown Denton
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 9 2. FINANCIAL OVERVIEW
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 10 Unit Mix
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 11 Financial Analysis
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 12 Trending Valuation
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 13 IRR Deferred
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 14 Loan Information
LOAN INFORMATION
Note Dated 8/4/2017
First Payment Date 9/1/2017 Maturity Date 9/1/2027 Term (Years) 10 Interest Rate 4.78% Amortization Period 30 Interest Accrual Method Actual/360 Monthly Payment $49,204.97 (amortized) Annual Payment $590,459.64 (amortized) Original Balance $9,400,000 Current Balance $9,280,253 (7/1/2018)
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 15 3. LOCATION OVERVIEW
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 16 Regional Maps
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 17 Area Attractions
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 18 Area Highlights
Denton is home to the University of North Texas and Texas Woman’s Denton County is projected Strong submarket with a High traffic count of 35,715 University which have a to be the #1 County in the current average occupancy cars per day that pass by the combined enrollment of U.S. for GDP Growth over of 91% and rents which have duplexes along Loop 288, more than 40,000 the next 5-years according increased 4% over the making the asset very visible undergraduate students to Oxford Economics trailing 12-months (July 2018) and that serve as the area’s #1 and #3 largest public employers, respectively According to new figures Well-located just 3-miles Close proximity to schools from the Federal Reserve, According to U.S. News and north of I-35E and 4 ½ miles – Less than 1-mile from Lee the Dallas-Fort Worth World Report, DFW was east of I-35W, providing Elementary School, economy is growing at a named the #15 Best Place easy commuter access into approximately 2-miles from blistering pace with a net to Live and the #11 Best downtown Dallas and Fort Strickland Middle School, growth of 55,000 jobs Place to Retire out of 125 Worth which are both 35- and 1 ½ miles from Billy Ryan during the first five months Metro Areas for 2018 miles away High School of 2018 and a historically low unemployment rate
Within 3-miles of major Abundant entertainment Located approximately 20- retailers and restaurants Expansive park system options including the miles north of DFW including ALDI Grocery, Bed with 32 parks with trails, 27 Campus Theater, Clear Creek International Airport which is Bath & Beyond, Best Buy, playgrounds, 25 bridges and National Heritage Museum, the world’s 3rd largest Chick-fil-A, Chipotle, CVS 23 pavilions and nature Courthouse on the Square, airport in operations and 11th Pharmacy, Home Depot, parks totaling more than Lake Ray Roberts, Lewisville largest in total passengers, Kroger, LA Fitness, Lowe’s, 2,900-acres of natural Lake, Water Works Park, and providing service to over Starbucks, Target, Walmart, heritage area more 200 destinations and more
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 19 Economic Drivers
ENTERTAINMENT
- Campus Theater - Clear Creek National Heritage Museum - Courthouse on the Square - Denton County Historical Museum - Lake Ray Roberts - Lewisville Lake - Water Works Park
LARGEST EMPLOYERS (>500 EMPLOYEES)
- University of North Texas – 4,533 employees - City of Denton – 1,623 employees - Denton I.S.D. – 4,417 employees - Texas Health Presbyterian – 1,076 employees - Peterbilt Motors – 2,314 employees - Medical City Denton – 950 employees - Texas Woman’s University – 1,778 employees - Sally Beauty – 950 employees - State Supported Living Center – 1,700 employees - Safran Electrical & Power – 750 employees - Denton County – 1,681 employees - FEMA Processing Center – 594 employees
IMMEDIATE AREA RETAIL
- Less Than ½ Mile – Subway, QuikTrip - Within 1-Mile – Dairy Queen, Home Zone Furniture, Pizza Hut, RaceTrac, Sonic Drive-In - Within 2-Miles – 7-Eleven, Dollar General, Grandy’s, Jack In The Box, O’Reilly Auto Parts, Papa Murphy’s Pizza - Within 3-Miles – ALDI, Bed Bath & Beyond, Best Buy, Buffalo Wild Wings, Chick-fil-A, Chipotle Mexican Grill, CVS Pharmacy, Golden Triangle Mall, Home Depot, Kroger, LA Fitness, Lowe’s Home Improvement, Office Depot, PetSmart, Starbucks, Target, Walmart
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 20 4. RENT COMPARABLES
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 21 Rent Comparables
3 2 3 1 3 2 2 4 1 5 1 4
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SUBJECT PROPERTY 1200-1415 Bayfield Drive | Denton, TX 76209
LONGHORN COVE 2417 SUMMER TRAIL DRIVE 1201 TELESE COURT 1 300 Stockade Lane 2 2417 Summer Trail Drive 3 1201 Telese Court Denton, TX 76205 Denton, TX 76209 Denton, TX 76209
2420 SUMMER TRAIL DRIVE 432 WATER OAK STREET 4 2420 Summer Trail Drive 5 432 Water Oak Street Denton, TX 76209 Denton, TX 76209
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 22 Rent Comparable Summary
SUBJECT PROPERTY YEAR BUILT # OF UNITS BLDG SF AVG. SF/UNIT AVG. RENT/UNIT AVG. RENT PSF OCCUPANCY
AUDRA HEIGHTS 1200-1415 Bayfield Drive 2010-2017 72 119,748 SF 1,663 SF $1,600 $0.96 100% Denton, TX 76209
YEAR # OF RENT COMPS BLDG SF AVG. SF/UNIT AVG. RENT/UNIT AVG. RENT PSF OCCUPANCY BUILT UNITS
1 LONGHORN COVE 300 Stockade Lane 2009 66 90,772 SF 1,375 SF $1,526 $1.08 100% Denton, TX 76205
2 2417 SUMMER TRAIL DRIVE 2417 Summer Trail Drive 2016 1 1,739 SF 1,739 SF $1,800 $1.04 - Denton, TX 76209
3 1201 TELESE COURT 1201 Telese Court 2006 1 1,742 SF 1,742 SF $1,695 $0.97 - Denton, TX 76209
4 2420 SUMMER TRAIL DRIVE 2420 Summer Trail Drive 2016 1 1,927 SF 1,927 SF $1,850 $0.96 - Denton, TX 76209
5 432 WATER OAK STREET 432 Water Oak Street 2014 1 1,846 SF 1,846 SF $1,700 $0.92 - Denton, TX 76209
AVERAGES (Does Not Include Subject 2013 1 1,814 SF 1,814 SF $1,761 $0.99 - Property)
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 23 Rent Comparable Summary
$2,000 $1.20
$1,800 $1.10
$1,600 $1.00
$1,400
$0.90
$1,200
$0.80 $1,000
$0.70 $800
$600 $0.60 2420 Summer 2417 Summer Survery Average 432 Water Street 1201 Telese Court Audra Heights Longhorn Cove Trail Drive Trail Drive
Avg. Rent/Unit Avg. Rent PSF
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 24 Rent Comparable
1 LONGHORN COVE | 300 Stockdale Lane, Denton, TX 76205
AVG. PROPERTY OVERVIEW UNIT TYPE # OF UNITS AVG. SF/UNIT AVG. RENT PSF RENT/UNIT
No. of Units 66 3 Bd/2 Ba 16 1233 SF $1,370 $1.11
Occupancy 94% 3 Bd/2 Ba 18 1280 SF $1,435 $1.12
Year Built 2009 3 Bd/2.5 Ba 2 1596 SF $1,605 $1.01 Utilities Individual | Resident 3 Bd/2.5 Ba 8 1413 SF $1,470 $1.04 Black appliance package, faux granite 3 Bd/2.5 Ba 8 1470 SF $1,525 $1.04 Amenities countertops, 2-car garage, enclosed back yards, children’s playground and dog park 3 Bd/2.5 Ba 8 1520 SF $1,590 $1.05 3 Bd/2.5 Ba Townhome 6 1598 SF $1,690 $1.06
TOTALS/AVERAGES 66 1375 SF $1,526 $1.06
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 25 Case Study: Audra Heights vs. Longhorn Cove
Audra Heights Kitchen Longhorn Cove Kitchen
Property Type SF Avg. Rent/Unit Avg. Rent PSF Longhorn Cove 3 Bd / 2.5 Ba 1,598 $1,680 $1.06
Audra Heights 3 Bd / 2.5 Ba 1,663 $1,600 $0.96
• Audra Heights’ most relevant comparable property is Longhorn Cove
• Comparing the most similar units, Longhorn Cove is currently achieving $1,680 rents on their 1,598 SF units
• Audra Heights has room to raise rents at a minimum up to the market rates of Longhorn
• Raising rents $80 per unit, to be in-line with Longhorn Cove, would generate $69,120 of income annually, which on a 6% cap rate is over $1.1M in value
• Audra Heights is newer construction with notably superior unit amenities (see pictures above) that have significant value-add potential for any investor without the need for capital improvements
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 26 5. DFW IN THE NEWS
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 27 DFW in the News
22 Dallas-Fort Worth has top two spots in U.S. based on 5-year economic forecast
August 10, 2018 By Tracy M. Cook, Business Reporter
Denton and Collin counties are projected to be the nation's fastest growing economies over the next five years, according to an Oxford Economics forecast.
Of the top six U.S. counties, four are in Texas:
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 28 DFW in the News
The rates measure expected GDP growth through 2021. The same study projects U.S. economic growth to land at a steady 2 percent this year and next year.
Over the next five years, America’s fastest growing cities will be in “sprawling, suburban metro areas,” described as places like Austin, according to the report from the independent global advisory firm headquartered in Oxford, England.
That’s because Americans are leaving high-cost, densely populated cities in search of cheaper areas with strong job growth. Within Texas, people are leaving Dallas for the suburbs. From 2009 through 2013, Dallas County experienced an internal migration loss of more than 27,000 people to other Texas counties, according to U.S. Census Bureau data.
The Census Bureau tracks net migration and immigration, which is the difference between the number of people moving into a county and the number of people moving out. The figure includes people migrating between two Texas counties, a Texas county and another U.S. state, or a Texas county and another nation.
Denton and Collin counties ranked third and 10th, respectively, in net migration and immigration from 2009 through 2013. In that time, Denton County gained 23,000 people, while Collin County netted 8,800 new residents. Conversely, Dallas County saw more than 6,300 people leave.
As of last year, both Denton and Collin counties had seen a 20 percent explosion in population since April 2010, according to Census Bureau data.
The Oxford Economics ranking is a testimony to the region's economic dynamism, said Bud Weinstein, an economist at SMU’s Cox School of Business. It also reflects the number of people and companies that have moved, relocated or expanded in Denton and Collin counties.
On this year’s Fortune 500 list, 22 companies are based in Dallas-Fort Worth. Other major employers also are expanding their local footprints.
One of those companies, Liberty Mutual Insurance, is relocating employees to Plano’s Legacy West development. Japanese automaker Toyota in July opened its new Plano campus, where it will employ more than 4,000 people in its new North American headquarters.
Business expansion also is occurring in Denton County, said Michael Carroll, director of the Economics Research Group at the University of North Texas.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 29 DFW in the News
Denton's two major universities, UNT and Texas Woman's University, create both a supply of future workers and a demand for goods and services, which Carroll said may be part of the reason no industry accounts for more than 20 percent of the local economy.
Together, the universities combine for more than 50,000 students in Denton, which is also home of large companies like Peterbilt Motors Co. and Sally Beauty Supply.
Denton and Collin counties are also getting a boost from relocations by smaller companies whose moves may not make headlines, particularly manufacturing companies that are finding it impossible to turn a profit in California, New York and Illinois, where regulations and taxes make it difficult to run a business, Weinstein said.
And once they’re here, they have a multiplier effect on the economy. In Toyota’s case, many of its suppliers relocated with it. That means more offices opened and more jobs were filled. Workers earn wages that are then put back into the local economy, supporting restaurants, retail, movie theaters, sports venues and the like.
These companies diversify the area's economic base, as they trend toward high-value goods and services and away from traditional suburban activity like fast-food chains and retail malls. The progression toward diversification generates wealth, setting off a chain of results that often includes higher property values, according to the study.
A combination of push-and-pull factors have resulted in net migration to the North Texas suburbs, including business conditions, tax laws and airport access. But for employees, the perks extend beyond business-related incentives. Sports and entertainment developments are a draw, too, as are top-notch school districts in those counties.
“They’re moving here because of high taxes, eroding quality of life, because of very high real estate costs — particularly for single family homes — the heavy hand of regulation, terrible traffic conditions” elsewhere, Weinstein said of push factors. “They come to Texas. There’s a lighter tax burden. It’s easier to get around. They can afford to buy a home.”
Many of the fastest growing counties are suburbs of highly-productive cities, according to the report. Last year, Forbes ranked Dallas the sixth-best place nationally for job growth.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 30 DFW in the News
DFW Economy Growing at a ‘Blistering Pace’: Federal Reserve 55,000 new jobs added in the first five months of 2018
June 19, 2018 Ben Russell
The story of Dallas-Fort Worth has been one of rapid growth for the better part of the past decade. And new figures from the Federal Reserve Bank of Dallas prove that story is not likely to change anytime soon.
The Dallas-Fort Worth economy has been growing at a “blistering pace,” with a net growth of 55,000 jobs during the first five months of 2018, according to Laila Assanie, a Senior Business Economist for the Federal Reserve.
“Employment expansion is broad-based, across all sectors,” Assanie said, noting that the local area is seeing jobs added in the construction industry, health services, IT services, transportation and logistics and financial services.
In addition, Assanie emphasized that for this rapid rate of growth to continue local employers must rely upon what has been a long trend of migration – people moving to DFW from other states and countries.
“Our unemployment currently is near historical lows for both the state and the metro area, and so for us to keep on growing we need an influx of people,” Assanie said.
Six in 10 new North Texans came as a result of migration: 40 percent from other states and 20 percent from other countries. The rest of the newest local residents either came from other parts of the state, or from being born.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 31 DFW in the News
22 Dallas-Fort Worth companies make the 2018 Fortune 500 list
May 21, 2018 By Arren Kimbel-Sannit, Staff Writer
The Dallas-Fort Worth region is home to 22 companies on this year's Fortune 500 list, as local energy businesses gained ground in the annual ranking of the nation's largest publicly traded firms by revenue.
Irving-based oil titan Exxon Mobil — one of just three companies to have held the list's vaunted No. 1 spot — climbed to second place after slipping to fourth amid falling oil prices last year. The company pulled in $244.4 billion in 2017, a roughly 17 percent increase from the previous year.
Retailer Walmart took the No. 1 spot for the sixth consecutive year, clearing the $500 billion revenue mark for the first time in company history.
Dallas' AT&T held steady at No. 9, the only other Texas company in the top ten. Texas as a whole ranks third nationally in Fortune 500 companies, just behind California, which plays host to 49 such firms. New York held onto its No. 1 spot, with 58 corporations in the list.
The Houston area had 21 Fortune 500 companies, almost all in energy, while San Antonio had four. Austin had one entry — Dell Technologies, based in Round Rock.
Both Fort Worth-based American Airlines, at No. 71, and Dallas-based Southwest Airlines, at No. 142, lost four spots in the shadow of climbing fuel prices, though revenues are increasing.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 32 DFW in the News
Texas oil companies saw a big boost in the rankings almost across the board. Energy Transfer Equity, based in Dallas, rode its $47.5 billion in revenue to No. 64, a 15-spot gain from last year's list.
Oil prices have climbed over the past year, one possible explanation for the health of Texas energy companies. Oil cost less than $50 a barrel this time last year — now it sits at more than $70.
But it may be too early to quantify the impact of recent economic changes, said Bernard Weinstein, the associate director of the Maguire Energy Institute at Southern Methodist University.
"I don't think oil prices would be reflected quite yet," he said. It's more likely that improvements at companies like Exxon come from increased profitability in their oil refining and petrochemical operations, he said.
Celanese, the Irving-based chemicals company that in 2015 opened one of the country's largest methanol plants in Clear Lake, Texas, lept 29 spots and broke into the list as No. 455.
Texas produced other newcomers to the ranking, such as Houston's Cheniere Energy, a producer of natural gas, at No. 489. Irving-based Pioneer Natural Resources jumped 109 spots from outside the Fortune 500 to No. 497, one of many gas companies to fire on all cylinders in light of the cheap abundance of U.S. natural gas.
The future isn't as bright for legacy Plano-based department store chain J.C. Penney, which has struggled during tough times for brick-and- mortar retail. The company dropped 14 spots, to 235, in this year's ranking.
The retailer is the exception, however, as most Texas companies in the rankings did well, especially those clustered around Dallas and Houston. On average, Texas firms moved at least 20 spots up.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 33 DFW in the News
Here are the D-FW companies that made the list and their ranks:
2. ExxonMobil 9. AT&T 64. Energy Transfer Equity 71. American Airlines Group 142. Southwest Airlines 147. Tenet Healthcare 153. Fluor 163. Kimberly-Clark 192. Texas Instruments 206. Holly Frontier 211. D.R. Horton 235. J.C. Penney 297. Jacobs EngineeringGroup 322. Game Stop 362. Dean Foods 365. Alliance Data Systems 397. Yum China Holdings 400. Builders First Source 418. Dr. PepperSnappleGroup 455. Celanese 497. PioneerNaturalResources 499. Vistra Energy
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 34 6. DEMOGRAPHICS
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 35 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 36 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 37 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 38 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 39 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 40 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 41 Demographic and Income Comparison Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 42 Traffic Count Map
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 43 Traffic Count Profile
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 44 7. ABOUT SVN®
1200-1415 Bayfield Drive Denton, TX 76209
SVN | Investment Sales Group | 6320 Lyndon B. Johnson Freeway, Suite 228, Dallas, TX 75240 Page 45 Advisor Bios
Mark Allen Senior Director SVN | Investment Sales Group
Mark entered the world of investment real estate in 2009 during the recession and has been involved in the acquisition, renovation, management and disposition of a variety of asset types and classes across multiple markets. Today, Mark focuses on Multifamily and Single Family Rental Portfolio owner representation, leveraging his sales and real estate investment experience to provide superior service for his clients.
In his first year as a broker, Mark helped broker $150M+ in transaction volume (3000+ units) and was recognized as the SVN “Rookie of the Year”. Mark is consistently recognized as the team’s most aggressive marketer, consecutively awarded the “Golden Phone”. His list of clients include both private to institutional, including the Fort Worth Housing Authority. License #: 677036 Phone: 972.865.6328 Mark attended the United States Military Academy at West Point and was a member of the Army Fax: 214.206.9616 E-mail: [email protected] football team. Post graduation, he served in the US Army as a Field Artillery Officer where he led Address: 6320 LBJ Frwy. troops in Operation Enduring Freedom – Afghanistan. Prior to his career in Commercial Real Estate Suite 228 Investment Sales, Mark was a business development lead and consultant at MSC Software, working Dallas, TX 75240 to understand his clients challenges and business, while integrating MSC software and services to add value directly to his client’s bottom line.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 46 Disclaimer
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstance, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN® Advisor listed in this brochure, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN® Advisor.
Neither the SVN® Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN® Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of those materials shall not look to Owner or the SVN® Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
AUDRA HEIGHTS | 1200-1415 BAYFIELD DRIVE, DENTON, TX 76209 Page 47 CONNECT
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