PHILIP LEVY 972.755.5225 SENIOR MANAGING DIRECTOR [email protected]
OFFERING MEMORANDUM TABLE OF CONTENTS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
Confidentiality & Disclaimer Contents
The information contained in the following Marketing Brochure is proprietary and strictly PROPERTY INFORMATION 3 confidential. It is intended to be reviewed only by the party receiving it from Marcus &Millichap LOCATION INFORMATION and should not be made available to any other person or entity without the written consent of 8 Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified FINANCIAL ANALYSIS 16 information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due SALE COMPARABLES - RETAIL CENTERS 22 diligence investigation. Marcus & Millichap has not made any investigation, and makes no SALE COMPARABLES - PAD SITES 27 warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage ofthe RENT COMPARABLES 34 property and improvements, the presence or absence of contaminating substances, PCB's or DEMOGRAPHICS asbestos, the compliance with State and Federal regulations, the physical condition of the 41 improvements thereon, or the financial condition or business prospects of any tenant, orany tenant’s plans or intentions to continue its occupancy of the subject property. The information contained 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 contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. 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 nameisnot 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
2 Section 1 PROPERTY INFORMATION PROPERTY INFORMATION | EXECUTIVE SUMMARY
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
OFFERING SUMMARY PROPERTY OVERVIEW
Sale Price: $10,200,000 Pinnacle Pointe is a 94 percent occupied, multi-tenant regional shopping center located in Dallas, Texas.
Cap Rate: 9.0% PAD SITES AVAILABLE
Current NOI: $918,148 PAD SITE PRICE PRICE / SF
Pro Forma Cap Rate: 10.03% 1) 2.236 Acres (1.34 Usable Acres) – Freeway Frontage $729,630 $12.50 2) 0.94 Acres (0.94 Usable Acres) - West Side of Cockrell Hill Road $511,825 $12.50 Pro Forma NOI: $1,023,222 3) 1.092 Acres (0.91 Usable Acres) - East Side of Cockrell Hill Road $495,495 $12.50
Lot Size: 16.92 Acres
Year Built: 2006
Building Size: 84,834
Price / SF: $120.23
4 PROPERTY INFORMATION | PROPERTY DESCRIPTION
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
PROPERTY OVERVIEW
Pinnacle Pointe is an 84,834-square foot, multi-tenant regional shopping center located in Dallas, Texas. Anchored by Conn’s HomePlus and Staples, other tenants include Wing Stop, Staff Force, and MD Kids Pediatrics. The center is 94 percent occupied, and all leases are triple-net with options for renewal. The property also includes a ground lease to a freestanding Pollo Campero. The multi-tenant building was constructed in 2006 and is situated on 11.6 acres with ample paved parking. The Pollo Campero building was constructed in 2008 and sits on 1.015 acres. Three additional pad sites totaling approximately three acres are also available for purchase.
LOCATION OVERVIEW
Pinnacle Pointe is located on the Interstate 30 access road (Dallas Fort Worth Turnpike) at the signalized hard corner of South Cockrell Hill Road. The property enjoys excellent freeway visibility with extremely high traffic counts. Interstate 30 has traffic counts of 166,371 vehicles per day, and North Cockrell Hill Road has more than 19,000 vehicles per day. National and regional retailers in the area include IHOP, Comfort Suites, Taco Bell, El Patron Tacos, Hampton Inn & Suites, Fairfield Inn & Suites, Lowe’s Home Improvement, Walmart Supercenter, Jefferson Dental, T-Mobile, Shoe Department, Dollar Tree, Party City, Ross Dress for Less, Taco Cabana, Panda Express, Chick-fil-A, Starbucks, Bank of America, GameStop, Chili’s Grill & Bar, Sprint, Burger King, Wells Fargo, Holiday Inn Express, and more.
The property is located in an industrial area of East Dallas, with the Turnpike Distribution Center and Singleton Industrial Area to the north and east. Southeast of the property are industrial and warehousing sites for Neiman Marcus, FedEx, Danco Corporation, Air Vent, In & Out Burger Corporate, Freeman Audio Visual Solutions, Quality Logistics Systems, and GEODIS. Approximately one and a half miles east of the subject property at the southwest corner of North Westmoreland Road and Interstate 30 is The Canyon in Oak Cliff, a 200-acre mixed-use development aimed at providing places to live, work, shop, and relax in a natural hill country setting.
Located five miles west of Downtown Dallas, Pinnacle Pointe is minutes away from Historic Oak Cliff, the Bishop Arts District, Uptown, and both major airports. Nearby employment centers include Pinnacle Park, Mid Cities, Downtown Dallas CBD, The Arts District, Victory Park, Uptown, the Medical District, and the Dallas World Trade Center.
5 PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SALE HIGHLIGHTS • 84,834-Square Foot Regional Shopping Center in East Dallas • Anchored by Conn's HomePlus and Staples • 94% Occupied | 87% of the Gross Leasable Area has Credit Tenants • Leases are Triple-Net • Includes a Pad Site with a Ground Lease to Pollo Campero • Three Additional Pad Sites Available for Purchase for Future Development | 2.236-Acre Lot (1.34 Usable Acres) with Freeway Frontage PricedSeparately at $12.50/PSF |0.94-Acre Lot on the West Side of Cockrell Hill Road Priced at $12.50/PSF |1.092-Acre Lot (0.91 Usable Acres) on the East Side of Cockrell Hill Road Priced at $12.50/PSF • Highly Trafficked Freeway Location off Interstate 30 at the Signalized Hard Corner of Cockrell Hill Road | 166,371 Vehicles per Day on I-30 | 19,000 Vehicles per Day on Cockrell Hill Road • Excellent Freeway Visibility • Densely Populated with more than 244,350 Residents within Five Miles • Numerous National and Regional Retailers in the Area, Including Lowe's Home Improvement, Walmart Supercenter, Dollar Tree, and Ross Dress for Less • Located in an Industrial and Warehousing Area of East Dallas Near theurnpike T Distribution Center and Singleton Industrial Area • Approximately One and a Half Miles West of The Canyon in Oak Cliff, a 200-Acre Mixed-Use Development • Convenient Location Near Historic Oak Cliff, Bishop Arts District, Uptown, Downtown Dallas, The Arts District, and Both Major Airports
6 PROPERTY INFORMATION | ADDITIONAL PHOTOS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
7 Section 2 LOCATION INFORMATION LOCATION INFORMATION | REGIONAL MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
Pinnacle Pointe
9 LOCATION INFORMATION | LOCATION MAPS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
10 LOCATION INFORMATION | AERIAL MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
11 LOCATION INFORMATION | AERIAL MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
12 LOCATION INFORMATION | AERIAL MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
13 LOCATION INFORMATION | AERIAL MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
14 LOCATION INFORMATION | PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
15 Section 3 FINANCIAL ANALYSIS FINANCIAL ANALYSIS | FINANCIAL SUMMARY
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
INVESTMENT OVERVIEW CURRENT PRO FORMA
Price $10,200,000 $10,200,000 Price per SF $120.23 $120.23 CAP Rate 9.0 % 10.03 % Total Return (yr 1) $918,148 $1,023,222
OPERATING DATA CURRENT PRO FORMA
Gross Income $1,376,467 $1,481,541 Operating Expenses $458,319 $458,319 Net Operating Income $918,148 $1,023,222
FINANCING DATA CURRENT PRO FORMA
Down Payment $10,200,000 $10,200,000 Loan Type All Cash All Cash
17 FINANCIAL ANALYSIS | INCOME & EXPENSES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
INCOME SUMMARY CURRENT PER SF PRO FORMA PER SF
*Base Rent $954,722 $11.25 $954,722 $11.91 Vacant Space at Market Rents $0 $0.00 $68,500 $14.76 Real Estate Taxes Reimbursements $256,483 $3.02 $278,725 $3.29 Insurance Reimbursements $10,665 $0.13 $11,590 $0.14 CAM Reimbursements $113,602 $1.34 $123,454 $1.46 Management Fee Reimbursements $40,995 $0.48 $44,550 $0.53 Gross Income $1,376,467 $16.23 $1,481,541 $17.46
EXPENSE SUMMARY CURRENT PER SF PRO FORMA PER SF
Real Estate Taxes $278,725 $3.29 $278,725 $3.29 Insurance $11,590 $0.14 $11,590 $0.14 Utilities $34,500 $0.41 $34,500 $0.41 Repairs & Maintenance $60,790 $0.72 $60,790 $0.72 Landscaping $21,600 $0.25 $21,600 $0.25 Janitorial $3,250 $0.04 $3,250 $0.04 Administrative $2,314 $0.03 $2,314 $0.03 Marketing $1,000 $0.01 $1,000 $0.01 Management Fee $44,550 $0.53 $44,550 $0.53 Gross Expenses $458,319 $5.40 $458,319 $5.40
Net Operating Income $918,148 $10.82 $1,023,222 $12.06
* Total Base Rent is based on the future annual rent of $954,723 as of 12/01/18. Current actual rent is $947,037.
18 FINANCIAL ANALYSIS | RENT ROLL
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
TENANT UNIT UNIT % OF LEASE LEASE ANNUAL ESC PRICE LEASE EXPENSE NAME NUMBER SIZE (SF) GLA START END RENT DATE PER YEAR TYPE OPTION REIMBURSEMENT
Conn's HomePlus 400 46,930 55.32 7/01/2015 9/30/2025 $480,094 $10.23 NNN (1) 5-Yr $253,542.07 Staples (1) 200 20,327 23.96 4/01/2007 3/31/2022 $211,401 $10.40 NNN (2) 5-Yr $109,813.23 4/1/2020 $11.44 Vacant 500 4,644 5.47 $0 $0.00 Wing Stop 120 3,103 3.66 2/01/2015 1/31/2020 $57,406 $18.50 NNN (2) 5-Yr $16,774.48 Staff Force 130 1,500 1.77 8/01/2009 7/31/2019 $31,215 $20.81 NNN (2) 5-Yr $8,112.25 MD Kids Pediatrics 202 6,201 7.31 12/01/2012 9/30/2020 $89,915 $14.50 NNN (2) 5-Yr $33,503.12 Pollo Campero Pad 2,129 2.51 12/01/2008 11/30/2028 $84,692 $39.78 Ground (1) 5-Yr 12/1/2023 $43.76
Totals/Averages 84,834 $954,723 $11.25 $421,745.15 $421,745.15
(1) Staples shall have a one-time right to terminate the Lease upon written notice delivered to Landlord no later than October 1, 2019, such termination to be effective March 31, 2020.
* Total Annual Rent is based on the future annual rent of $954,723 as of 12/01/18. Current actual rent is $947,037.
19 FINANCIAL ANALYSIS | TENANT INFORMATION
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
Company: Conn's INC. Founded: 1934 Conn's Inc. is an American furniture, mattress, Line of Business: electronics and appliance store chain headquartered in The Woodlands, Texas, United States. Locations: 112 Website: www.conns.com
Company: Staples, INC. Founded: 1986 Staples sells office supplies, office machines, Line of Business: promotional products, technology and business services in both stores and online Locations: 1,220 Website: www.staples.com
Company: Wingstop Restaurants, INC. Founded: 1994 Wingstop Restaurants, Inc. is a chain of Line of Business: nostalgic, aviation-themed restaurants where the sole focus is on chicken wings. Locations: 1,000 + Website: www.wingstop.com
20 FINANCIAL ANALYSIS | TENANT INFORMATION
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
Company: Pollo Campero Founded: 1971 Pollo Campero is a fast-food restaurant chain, located Line of Business: in Guatemala, the United States, and Italy. Locations: 400 + Website: www.pollocampero.com
Company: M.D. Kids Pediatrics Founded: 2014 Line of Business: Healthcare for newborns, kids and teens. Locations: 23 Website: http://mdkidspediatrics.com/home/3556780
Company: Staff Force | Personnel Services Founded: 1993 Staff Force provides temporary, direct hire and light Line of Business: industrial staffing solutions to eT xas employers Locations: 21 Website: http://staff-force.com/
21 Section 4 SALE COMPARABLES SALE COMPARABLES | SALE COMPS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY
4351 Dallas Fort Worth Turnpike | Dallas, TX 75211 Sale Price: $10,200,000 Lot Size: 16.92 AC Year Built: 2006 Building SF: 84,834 SF Price PSF: $120.23 Cap: 9.0% NOI: $918,148
SUBLETT CORNERS 1 5900-5912 South Cooper | Arlington, TX 76017 Sale Price: $12,800,000 Lot Size: 0 AC 1 Year Built: 1999 Building SF: 87,900 SF Price PSF: $145.62 CAP: 7.29% Closed: 05/15/2017 Occupancy: 94% Stein Mart, Dollar Tree, Cato, Plato's Closet, CiCi's Pizza
HULEN STREET RETAIL 2 5000 S Hulen Street | Fort Worth, TX 76132 Sale Price: $22,000,000 Lot Size: 6.01 AC 2 Year Built: 2005 Building SF: 86,943 SF Price PSF: $253.04 CAP: 7.57% Closed: 12/26/2017 Occupancy: 89% Barnes & Noble, Old Navy, Lane Bryant
23 SALE COMPARABLES | SALE COMPS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
HUMBLEWOOD CENTER 3 19611-19908 Highway 59 N | Humble, TX 77338 Sale Price: $21,251,657 Lot Size: 9.41 AC 3 Year Built: 1979 Building SF: 177,641 SF Price PSF: $119.63 CAP: 7.7% Closed: 04/07/2017 Occupancy: 89% Conn's Home Plus, PetCo, Rent-A-Cener, Walgreens
FIREWHEEL VILLAGE 4 3178 Lavon Dr | Garland, TX 75040 Sale Price: $11,150,000 Lot Size: 14.48 AC 4 Year Built: 1995 Building SF: 148,870 SF Price PSF: $74.90 CAP: 8.28% Closed: 06/05/2018 Occupancy: 92% Hobby Lobby, Big Lots, Mardel, RedLine Athletics
RESACA VILLAGE 5 1601-1623 E Price Rd | Brownsville, TX 78521 Sale Price: $16,000,000 Lot Size: 18.31 AC 5 Year Built: 1989 Building SF: 173,667 SF Price PSF: $92.13 CAP: 8.54% Closed: 10/19/2016 Occupancy: 96% Big Lots, Fallas, Guitar Center, Harbor Freight Tools, Tuesday Morning
24 SALE COMPARABLES | SALE COMPS SUMMARY
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP SALE DATE
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike $10,200,000 84,834 SF $120.23 9.0% - Dallas, TX 75211
SALE COMPS PRICE BLDG SF PRICE/SF CAP SALE DATE
1 Sublett Corners 5900-5912 South Cooper $12,800,000 87,900 SF $145.62 7.29% 2017-05-15 Arlington, TX 76017
2 Hulen Street Retail 5000 S Hulen Street $22,000,000 86,943 SF $253.04 7.57% 2017-12-26 Fort Worth, TX 76132
3 Humblewood Center 19611-19908 Highway 59 N $21,251,657 177,641 SF $119.63 7.7% 2017-04-07 Humble, TX 77338
4 Firewheel Village 3178 Lavon Dr $11,150,000 148,870 SF $74.90 8.28% 2018-06-05 Garland, TX 75040
5 Resaca Village 1601-1623 E Price Rd $16,000,000 173,667 SF $92.13 8.54% 2016-10-19 Brownsville, TX 78521
PRICE BLDG SF PRICE/SF CAP SALE DATE Totals/Averages $16,640,331 135,004 SF $123.26 7.88%
25 SALE COMPARABLES | SALE COMPS MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY 4351 Dallas Fort Worth Turnpike | Dallas, TX 75211
SUBLETT CORNERS HULEN STREET RETAIL HUMBLEWOOD CENTER FIREWHEEL VILLAGE 1 5900-5912 South Cooper 2 5000 S Hulen Street 3 19611-19908 Highway 59 N 4 3178 Lavon Dr Arlington, TX 76017 Fort Worth, TX 76132 Humble, TX 77338 Garland, TX 75040
RESACA VILLAGE 5 1601-1623 E Price Rd Brownsville, TX 78521
26 Section 5 SALE COMPARABLES | PAD SITES SALE COMPARABLES | PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
PINNACLE PARK LAND 1 N. Cockrell Hill Road @ Pinnacle Point Drive | Dallas, TX 75211 Sale Price: $2,413,224 Lot Size: 11.07 AC 1 Building SF: SF Price PSF: $5.00 Price / AC: $217,996
W DAVIS LAND 2 2603 W Davis St | Dallas, TX 75211 Sale Price: $5,000,000 Lot Size: 7.23 AC 2 Building SF: SF Price PSF: $15.88 Price / AC: $691,562 Zoned PD 830, Mixed Use
WALTON WALKER BLVD LAND 3 505 S Walton Walker Blvd | Dallas, TX 75211 Sale Price: $695,000 Lot Size: 4.56 AC 3 Building SF: SF Price PSF: $3.50 Price / AC: $152,412 Frontage and visibility on Loop 12. RR Zoning
28 SALE COMPARABLES | PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SITE C2 4 4291 S Cockrell Hill Road | Dallas, TX 75236 Sale Price: $699,932 Lot Size: 1.03 AC 4 Building SF: SF Price PSF: $15.60 Price / AC: $679,545 Current Tenant: Shell C-Store
SITE C1 5 4275 Dallas Fort Worth Turnpike | Dallas, TX 75211 Sale Price: $750,607 Lot Size: 1.33 AC 5 Building SF: SF Price PSF: $12.96 Price / AC: $564,366 Tenant: Comfort Suites
SITE C3 6 1702 North Cockrell Hill Road | Dallas, TX 75212 Sale Price: $483,959 Lot Size: 0.7 AC 6 Building SF: SF Price PSF: $15.87 Price / AC: $691,370 Tenant: Taco Bell
29 SALE COMPARABLES | PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SITE C4 7 1714 North Cockrell Hill Road | Dallas, TX 75211 Sale Price: $561,964 Lot Size: 0.83 AC 7 Building SF: SF Price PSF: $15.54 Price / AC: $677,065 Tenant: Sonic Drive-In
SITE C6 8 1718 North Cockrell Hill Road | Dallas, TX 75211 Sale Price: $721,353 Lot Size: 1.84 AC 8 Building SF: SF Price PSF: $9.00 Price / AC: $392,039 Tenant: Hampton Inn
SITE D3 9 4333 Dallas Fort Worth Turnpike | Dallas, TX 75211 Sale Price: $644,901 Lot Size: 0.95 AC 9 Building SF: SF Price PSF: $15.58 Price / AC: $678,843 Tenant: IHOP
30 SALE COMPARABLES | SALE COMPS SUMMARY - PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SALE COMPS PRICE PRICE/SF CLOSE Pinnacle Park Land N. Cockrell Hill Road @ Pinnacle Point 1 $2,413,224 $5.00 On Market Drive Dallas, TX 75211
W Davis Land 2 2603 W Davis St $5,000,000 $15.88 On Market Dallas, TX 75211
Walton Walker Blvd Land 3 505 S Walton Walker Blvd $695,000 $3.50 On Market Dallas, TX 75211
Site C2 4 4291 S Cockrell Hill Road $699,932 $15.60 Sold Dallas, TX 75236
Site C1 5 4275 Dallas Fort Worth Turnpike $750,607 $12.96 Sold Dallas, TX 75211
Site C3 6 1702 North Cockrell Hill Road $483,959 $15.87 Sold Dallas, TX 75212
Site C4 7 1714 North Cockrell Hill Road $561,964 $15.54 Sold Dallas, TX 75211
Site C6 8 1718 North Cockrell Hill Road $721,353 $9.00 Sold Dallas, TX 75211
31 SALE COMPARABLES | SALE COMPS SUMMARY - PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
Site D3 9 4333 Dallas Fort Worth Turnpike $644,901 $15.58 Sold Dallas, TX 75211
PRICE PRICE/SF Totals/Averages $1,330,104 -$12.10
32 SALE COMPARABLES | SALE COMPS MAP - PAD SITES
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY 4351 Dallas Fort Worth Turnpike | Dallas, TX 75211
PINNACLE PARK LAND W DAVIS LAND WALTON WALKER BLVD LAND SITE C2 1 N. Cockrell Hill Road @ Pinnacle Point Drive 2 2603 W Davis St 3 505 S Walton Walker Blvd 4 4291 S Cockrell Hill Road Dallas, TX 75211 Dallas, TX 75211 Dallas, TX 75211 Dallas, TX 75236
SITE C1 SITE C3 SITE C4 SITE C6 5 4275 Dallas Fort Worth Turnpike 6 1702 North Cockrell Hill Road 7 1714 North Cockrell Hill Road 8 1718 North Cockrell Hill Road Dallas, TX 75211 Dallas, TX 75212 Dallas, TX 75211 Dallas, TX 75211
SITE D3 9 4333 Dallas Fort Worth Turnpike Dallas, TX 75211
33 Section 6 RENT COMPARABLES RENT COMPARABLES | RENT COMPS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY
4351 Dallas Fort Worth Turnpike | Dallas, TX 75211 Lease Rate: $11.25 SF Space Size: 0 SF Year Built: 2006 Lot Size: 16.92 AC
LAKEWEST TOWN CENTER 1 2211-2223 Singleton Blvd | Dallas, TX 75212 Lease Rate: $12.00 SF Lease Type: NNN 1 Space Size: 36,680 SF Year Built: 1969 Bldg Size: 150,000 SF Lot Size: 13.35 AC Occupancy: 76%
Minyard Food Stores, California Dress Shop, AutoZone, Citi Trends, Sams Beauty Supply
WALTON WALKER BLVD RETAIL 2 712 S Walton Walker Blvd | Dallas, TX 75211 Lease Rate: $15.00 SF Lease Type: NNN 2 Space Size: 16,220 SF Year Built: 1975 Bldg Size: 95,612 SF Lot Size: 0 AC Occupancy: 83%
Super Fiesta Bazaar, Mariscos La Marea, Fiesta Event Center
35 RENT COMPARABLES | RENT COMPS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
PINNACLE POINT PLAZA 3 1417 N Cockrell Hill | Dallas, TX 75211 Lease Rate: $18.00 SF Lease Type: NNN 3 Space Size: 2,300 SF Year Built: 2008 Bldg Size: 11,850 SF Lot Size: 1.31 AC Occupancy: 81%
Pinnacle Point Food Mart, Fastsigns, Staff Sense
PLAZA DE ORO 4 4426-4490 W Jefferson Blvd | Dallas, TX 75211 Lease Rate: $18.00 SF Space Size: 5,164 SF 4 Year Built: 2010 Bldg Size: 93,941 SF Lot Size: 5.57 AC Occupancy: 95%
El Ranco Supermercado, Dollar Tree, Rent-A-Center, Metro PCS, Dental
W DAVIS RETAIL 5 3215-3225 W Davis Street | Dallas, TX 75211 Lease Rate: $23.00 SF Space Size: 2,500 SF 5 Year Built: 1946 Bldg Size: 9,120 SF Lot Size: 0.57 AC Occupancy: 73%
Latina Restaurant, Baja Auto Insurance, Good Smiles Dental
36 RENT COMPARABLES | RENT COMPS
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
KESSLER HILLS 6 1050 N Westmoreland | Dallas, TX 75211 Lease Rate: $26.00 SF Lease Type: NNN 6 Space Size: 11,400 SF Year Built: 1989 Bldg Size: 101,500 SF Lot Size: 0 AC Occupancy: 91%
Rent-A-Center, Dollar Store, Viva Dental, MetroPCS, TX Department of Family & Protective Services
KESSLER PARK VILLAGE 7 2201 Fort Worth Avenue | Dallas, TX 75211 Lease Rate: $30.00 SF Lease Type: NNN 7 Space Size: 19,404 SF Year Built: 2018 Bldg Size: 19,404 SF Lot Size: 6.01 AC Occupancy: 0%
Currently under construction and pre-leasing.
37 RENT COMPARABLES | RENT COMPS SUMMARY
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike $11.25 4,644 84,834 SF 94.53% Dallas, TX 75211
RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %
1 Lakewest Town Center 2211-2223 Singleton Blvd $12.00 36,680 SF 150,000 SF 76% Dallas, TX 75212
2 Walton Walker Blvd Retail 712 S Walton Walker Blvd $15.00 16,220 SF 95,612 SF 83% Dallas, TX 75211
3 Pinnacle Point Plaza 1417 N Cockrell Hill $18.00 2,300 SF 11,850 SF 81% Dallas, TX 75211
4 Plaza De Oro 4426-4490 W Jefferson Blvd $18.00 5,164 SF 93,941 SF 95% Dallas, TX 75211
5 W Davis Retail 3215-3225 W Davis Street $23.00 2,500 SF 9,120 SF 73% Dallas, TX 75211
6 Kessler Hills 1050 N Westmoreland $26.00 11,400 SF 101,500 SF 91% Dallas, TX 75211
7 Kessler Park Village 2201 Fort Worth Avenue $30.00 19,404 SF 19,404 SF 0% Dallas, TX 75211
PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY % Totals/Averages $20.29 13,381 SF 68,775 SF 83.17%
38 RENT COMPARABLES | RENT COMPS MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
SUBJECT PROPERTY 4351 Dallas Fort Worth Turnpike | Dallas, TX 75211
LAKEWEST TOWN CENTER WALTON WALKER BLVD RETAIL PINNACLE POINT PLAZA PLAZA DE ORO 1 2211-2223 Singleton Blvd 2 712 S Walton Walker Blvd 3 1417 N Cockrell Hill 4 4426-4490 W Jefferson Blvd Dallas, TX 75212 Dallas, TX 75211 Dallas, TX 75211 Dallas, TX 75211
W DAVIS RETAIL KESSLER HILLS KESSLER PARK VILLAGE 5 3215-3225 W Davis Street 6 1050 N Westmoreland 7 2201 Fort Worth Avenue Dallas, TX 75211 Dallas, TX 75211 Dallas, TX 75211
40 Section 7 DEMOGRAPHICS DEMOGRAPHICS | DEMOGRAPHICS REPORT
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
1 MILE 3 MILES 5 MILES Total population 5,427 78,293 244,354 Median age 27.0 27.2 29.2 Median age (Male) 26.6 26.6 28.4 Median age (Female) 28.5 28.1 29.9
Total households 1,514 22,097 70,074 Total persons per HH 3.6 3.6 3.5 Average HH income $46,234 $49,806 $55,609 Average house value $51,075 $91,606 $127,235
Total Population - White 2,707 44,811 141,360 % White 49.9% 57.2% 57.9%
Total Population - Black 797 8,420 27,400 % Black 14.7% 10.8% 11.2%
Total Population - Asian 53 626 2,664 % Asian 1.0% 0.8% 1.1%
Total Population - Hawaiian 0 21 62 % Hawaiian 0.0% 0.0% 0.0%
Total Population - American Indian 19 412 1,607 % American Indian 0.4% 0.5% 0.7%
Total Population - Other 994 17,690 47,800 % Other 18.3% 22.6% 19.6%
Total Population - Hispanic 3,688 57,324 160,875 % Hispanic 68.0% 73.2% 65.8%
* Demographic data derived from 2010 US Census
42 DEMOGRAPHICS | DEMOGRAPHICS MAP
Pinnacle Pointe 4351 Dallas Fort Worth Turnpike, Dallas, TX 75211
POPULATION 1 MILE 3 MILES 5 MILES Total population 5,427 78,293 244,354 Median age 27.0 27.2 29.2 Median age (Male) 26.6 26.6 28.4 Median age (Female) 28.5 28.1 29.9
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 1,514 22,097 70,074 # of persons per HH 3.6 3.6 3.5 Average HH income $46,234 $49,806 $55,609 Average house value $51,075 $91,606 $127,235
ETHNICITY (%) 1 MILE 3 MILES 5 MILES Hispanic 68.0% 73.2% 65.8%
RACE (%) White 49.9% 57.2% 57.9% Black 14.7% 10.8% 11.2% Asian 1.0% 0.8% 1.1% Hawaiian 0.0% 0.0% 0.0% American Indian 0.4% 0.5% 0.7% Other 18.3% 22.6% 19.6%
* Demographic data derived from 2010 US Census
43 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. 11-2-2015
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 o er to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly. ff 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.
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
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov IABS 1-0 PHILIP LEVY Senior Managing Director Dallas Office
972.755.5225 Office 817.380.1153 Fax [email protected] LICENSE: TX 0522087
5001 Spring Valley Road Dallas, TX 75244