For Sale/Lease Build to Suit Opportunity/ Vacant Land 1301 Garrison Drive Williamsburg, Virginia

Transcription

1 For Sale/Lease Build to Suit Opportunity/ Vacant Land 1301 Garrison Drive Williamsburg, Virginia FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Ron A. Campana, Jr. Campana Waltz Commercial Real Estate, L.L.C Fishing Point Dr, Suite 400 Newport News, Virginia This information was obtained from sources deemed to be reliable, but is not warranted. This offer subject to errors and omissions, or withdrawal, without notice.

2 FOR SALE/LEASE Redevelopment Opportunity 1301 Garrison Drive Williamsburg, Virginia Location: Description: Building Size: Land Size: Sales Price: Rental Rate: Zoning: Additional Information: 1301 Garrison Drive Williamsburg, Virginia Free Standing Retail/Office Building to be built. The parcel is in close proximity to The College of William & Mary and Colonial Williamsburg. This property can be a build to suit opportunity or purchased as vacant land. It is ideal for a small retail use, apartments, or office application. The property has adequate parking, and is located centrally located between Richmond Road and Monticello Avenue within the City of Williamsburg. Approximately 6,000 Square Feet to be built Approximately.44 Acres $1,100, For Land and Improvements to be built -or- $375, For Land Only $15.00 Per Square Foot-NNN B-3 General Business District Plans Scope of Work Zoning Uses Location Map Demographics FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Ron A. Campana, Jr. Campana Waltz Commercial Real Estate, LLC Fishing Point Drive, Suite 400 Newport News, Virginia Phone (757) Fax (757)

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6 DIVISION URBAN BUSINESS DISTRICT B-3 [8] Footnotes: --- (8) --- Editor's note Ord. No , adopted June 13, 2013, amended the title of Div. 10 to read as herein set out. Prior to inclusion of said ordinance, Div. 10 was title, "General Business District B-3." See also the Code Comparative Table. Sec Statement of intent. This district is established to allow high quality mixed-use development in the Midtown Planning Area for areas designated as Urban Commercial land use. This area is more urban in character than the corridor business district B-2, and is therefore suitable for a mix of commercial, office and residential uses. Because this area is served by transit, and has a wide variety of commercial services within walking distance, it is a good location for multifamily housing, and particularly housing for college students and senior citizens. Residential uses and higher intensity commercial uses such as offices and retail sales establishments in buildings exceeding 50,000 square feet area may be allowed with a special use permit to ensure that the use is compatible with the district and surrounding neighborhoods. (Ord. No. 862, ; Ord. No , ; Ord. No , ) Sec Permitted dwelling unit occupancy. The permitted dwelling unit occupancy in the urban business district B-3 is as follows: (1) A family; (2) No more than three unrelated persons; or (3) For student dwellings in accordance with section , no more than two unrelated persons in an efficiency or one bedroom dwelling unit/or no more than four unrelated persons in a two or more bedroom dwelling unit. (Ord. No , ; Ord. No , ) Sec Permitted uses. The uses permitted in the urban business district B-3 are as follows: (1) Bake shops. (2) Banks and financial institutions. (3) Churches and other permanent buildings used for religious worship. (4) Convenience service establishments such as, but not limited to, barbershops, beauty parlors and spas, tailors, shoe repair shops, self-service laundromats, and laundry and dry cleaning establishments. (5) Convenience stores. Page 1

7 (6) Day care centers. (6.1) Fitness studios. (6.2) Fitness centers. (7) Freestanding automatic teller machines. (8) Funeral homes. (9) Hotels/motels and timeshare units, and associated meeting facilities. Hotels/motels are further regulated by chapter 9, Licenses, Permits and Business Regulations. (9.1) Medical and dental offices and clinics. (10) Museums and art galleries without outdoor display. (11) Offices in buildings with a gross floor area not exceeding 50,000 square feet. (12) Parking lots as a principal use. (13) Pet shops, but not including boarding kennels on the premises. (14) Playgrounds, parks and unlighted athletic fields owned and/or operated by the City of Williamsburg. (15) Printing and photocopying shops. (16) Private clubs and lodges. (17) Public buildings owned and/or operated by the City of Williamsburg. (18) Public or private elementary, middle and high schools, colleges and universities; and including temporary classroom facilities when accessory to and on the same lot as a school located in a permanent building. (19) Radio and television broadcasting stations, studios and offices, but excluding onsite towers. (20) Repair services and businesses, including repair of bicycles, guns, radios, television sets, electrical appliances, locks, other home appliances, toys, typewriters, watches and the like. (21) Restaurants. (22) Retail sales establishments in buildings with a gross floor area not exceeding 50,000 square feet. (23) Storage of materials and supplies incidental to the conduct of a permitted use, provided that such storage is screened from view by a six-foot-high wall or fence with the finished side facing the exterior of the property. The planning commission may, through the site plan review process, require or approve an alternate means of screening, provided that it is equivalent to the required fence or wall. (24) Theaters and assembly halls, but excluding drive-in theaters. (24.1) Veterinary hospitals and clinics, provided that there are no outdoor activities. (25) Off-street parking and loading areas for permitted uses in accordance with article V. (26) Signs in accordance with article VI. (27) Accessory uses in accordance with section (28) Home occupations in accordance with section (Ord. No. 862, ; Ord. No. 2-94, 4, ; Ord. No , ; Ord. No , ; Ord. No. 01-7, ; Ord. No , ; Ord. No , ; Ord. No. Page 2

8 08-23, ; Ord. No , ; Ord. No , ; Ord. No , ; Ord. No , , eff ) Sec Uses permitted as special exceptions. Uses permitted in the urban business district B-3 with a special exception approved by the board of zoning appeals in accordance with section 21-97(f) are as follows: No special exception uses are listed for this district. (Ord. No. 862, ; Ord. No , ; Ord. No , ) Sec Uses permitted with special use permit. Uses permitted in the urban business district B-3 with a special use permit approved by city council in accordance with article II, division 2, are as follows: (1) Multifamily dwellings, provided that not more than 67 percent of the gross floor area of any new buildings on any lot may be devoted to multifamily use. Non-residential floor area shall be constructed simultaneously with the construction of the multifamily floor area. (2) Senior housing, as defined. (3) Student dwellings, subject to the following: a. Management shall be provided by either: (1) the College of William and Mary; or (2) in accordance with a management plan that is approved as a part of the rezoning and which provides for prompt and adequate performance of regular and emergency upkeep and maintenance on the complex and all dwelling units therein. The specific plan for the management of the student dwellings shall be approved as a part of the special use permit and shall remain in effect unless the approved special use permit is amended in accordance with article II, division 2. (4) Amusement arcades. (5) Billiard and pool rooms. (6) Bowling alleys. (7) Lighted athletic fields owned and/or operated by the City of Williamsburg. (8) Micro-brewery, micro-distillery, micro-winery and/or micro-cidery, with a capacity of not more than 15,000 barrels per year. (8.1) Museums and art galleries with outdoor display. (9) Nursing homes. (10) Offices in buildings with a gross floor area exceeding 50,000 square feet. (11) Parking garages. (12) Recreation centers. (13) Retail sales establishments in buildings with a gross floor area exceeding 50,000 square feet. (14) Tourist or visitor information centers. (15) Use of land as parking for and/or access to a use in an adjoining jurisdiction. (Ord. No. 862, ; Ord. No. 2-94, 4, 8, 9, ; Ord. No , ; Ord. No , ; Ord. No. 01-7, ; Ord. No , ; Ord. No , ; Ord. Page 3

9 No , ; Ord. No , ; Ord. No , ; Ord. No , ) Sec Lot area/density. The lot area and density requirements in the urban business district B-3 are as follows: (1) Dwelling units: There shall be a maximum density of 14 dwelling units per net acre, except that the maximum density may be increased with a special use permit approved by the city council in accordance with article II, division 4. In addition to the criteria specified for special use permits in section 21-42, city council shall consider the quality of the building and site design of the proposed development, and how the scale and character of the development relates to the surrounding commercial areas. Net acreage shall be calculated based on existing land conditions, as specified in the following chart: Physical Land Unit Percent Credited Toward Net Acreage Slopes less than 10% 100% Slopes from 10% but less than 20% 70% Slopes from 20% but less than 30% 50% Slopes 30% or more 10% 100-year floodplains 0% Wetlands 0% Existing water features (bodies of water, drainage channels, streams, etc.) 0% Above ground high voltage electric transmission line easements (69 kv or greater) 0% (2) Other uses: For all other uses, there shall be no minimum lot area required. (Ord. No. 862, ; Ord. No , ; Ord. No , ) Sec Lot width. The minimum lot width at the building line in the urban business district B-3 shall be 50 feet, and the lot width shall not be less than 25 feet at the street line. Page 4

10 (Ord. No. 862, ; Ord. No , ; Ord. No , ) Sec Yards. The yard requirements in the urban business district B-3 are as follows: (1) Front. There shall be a front yard of not less than 15 feet, except: a. Where 40 percent or more of the frontage on one side of the street within the same block is improved with buildings, no building on that side of the street within the same block shall be required to have a front yard greater than the average front yard of the existing buildings. However, when there are buildings on the adjacent lots on both sides, the front yard shall not be required to be greater than the average of the front yards of the buildings on the adjacent lots. The side line of a building on a corner lot shall not be a factor in these calculations. b. When a lot has a double frontage, front yards shall be provided on both streets, subject to such reductions as may be allowed under section (1)a. c. Gasoline pump islands, pump island canopies and outdoor dining areas shall be required to have a front yard of not less than 15 feet. d. No accessory building shall be located in a front yard. (2) Side. a. There shall be side yards of not less than ten feet. b. Corner lots: On a corner lot, the owner shall choose which yard is the front yard unless the front yard is designated on the recorded subdivision plat. The rear yard shall be opposite the chosen front yard. The other yard abutting the street shall be a side yard and shall not be less than 15 feet for both main and accessory buildings, unless a greater side yard is designated on a recorded subdivision plat. c. Side yards for accessory buildings, except for those on corner lots, shall not be less than three feet. d. Transitional screening shall be required when a lot is adjacent to a residential zoning district, in accordance with section (4). (3) Rear. a. Multifamily dwellings: For buildings containing multifamily dwellings, there shall be a rear yard of not less than 25 feet. b. Other uses: There shall be a rear yard of not less than 15 feet. c. Rear yards for accessory buildings shall not be less than five feet. d. Transitional screening shall be required when a lot is adjacent to a residential zoning district, in accordance with section (4). (4) Transitional screening. a. A landscaped open space area for transitional screening shall be provided along side and rear property lines when adjacent to a lot in a residential zoning district or to the Colonial Parkway, except that no transitional screening open space shall be required when multifamily dwellings adjoin multifamily zoning districts. The width of the transitional screening open space shall be determined by the adjacent use, as follows: 1. Parking lot or driveway: Ten feet. 2. One Story Building: Ten feet. Page 5

11 3. Two Story Building: 20 feet. 4. Three or Four Story Building: 30 feet. b. Landscaping of transitional screening open space areas shall be in accordance with landscaping standards contained in section (e). c. Transitional screening open space shall not contain accessory buildings or be used for storage purposes. No more than 25 percent of a transitional screening open space area shall be used for stormwater management facilities. d. Transitional screening open space shall be in addition to the required side and rear yards, but may be counted toward the landscaped open space required by section e. The planning commission may reduce the required width of transitional open space. A reduction shall not be approved unless it is found that: (5) Greenbelts. 1. The provision of the required transitional screening open space would unreasonably restrict the use of the property due to exceptional narrowness, shallowness, size or shape of the lot, or by reason of exceptional topographic conditions or other extraordinary situation or condition of the property; and 2. Additional landscaping and/or screening is proposed that will provide screening equivalent to that required by this section. a. Along streets designated by the comprehensive plan as greenbelts, a greenbelt of at least 50 feet shall be provided along the street line; except that at least 75 feet shall be required along Route 199. Excluded from this requirement shall be public streets and entrances located in the greenbelt areas that are approved during review of a minor site plan, site plan or subdivision. b. When the greenbelt is an existing wooded area, it shall be left in an undisturbed natural state, unless modifications are approved or required during review of a minor site plan, site plan or subdivision. Any modifications to an existing wooded greenbelt shall be for the purpose of maintaining its visual character as viewed from the adjacent public street. When a wooded greenbelt is part of a residential development, it may be required during review of a minor site plan, site plan or subdivision to be supplemented with evergreen trees and shrubs in order to provide an effective year-round visual screen between the proposed residential development and the street. When a greenbelt is in a non-wooded area, it shall be improved as an extensively landscaped open space between the street and the developed portion of the property. For a non-wooded greenbelt, at least one tree for each ten feet of frontage shall be planted or maintained, and the primary landscaping material shall be deciduous shade trees, supplemented by evergreen trees, shrubs and other planting material. All landscape materials shall conform to the minimum size and height standards of section (c)(5). When a non-wooded greenbelt area borders a residential development, it may be required during review of a minor site plan, site plan or subdivision that the primary landscaping material used shall be evergreen trees and shrubs in order to provide an effective year-round visual screen between the proposed residential development and the street. The landscape plans for the greenbelt area shall be prepared and certified by a certified landscape architect licensed to practice in the State of Virginia. The landscape plans shall be subject to approval by planning commission in the case of a minor site plan, site plan or subdivision of less than 25 lots; and by city council, on recommendation of the planning commission, in the case of a subdivision of 25 or more lots. Trees planted in a greenbelt shall be consistent with the standards contained in section (g), Tree Planting, Replacement and Pruning Standards. c. Greenbelts may be counted toward required yards, and toward the landscaped open space required by section Page 6

12 (Ord. No. 862, ; Ord. No. 2-94, 7, ; Ord. No , ; Ord. No , ; Ord. No , 2, ; Ord. No , ; Ord. No , ; Ord. No , ; Ord. No , ) Sec Height. The height requirements in the urban business district B-3 are as follows: (1) Buildings may be erected up to 45 feet from grade except that: a. Stair towers, equipment penthouses, mechanical equipment and screening walls are exempt from the height limitations, provided that they shall not cover more than 30 percent of the total roof area and shall not exceed the building height by more than ten feet. Equipment penthouses, mechanical equipment and screening walls shall be set back from the front wall of the building one foot for each foot of height above the roof level. b. Parapet walls shall not exceed the building height by more than four feet. c. Cupolas, spires and steeples may be erected to a height of 90 feet above grade, and may extend higher if a special exception is approved by the board of zoning appeals in accordance with section 21-97(f). The board shall not approve the special exception unless it finds that the cupola, spire or steeple is in proper proportion to the building. (Ord. No. 862, ; Ord. No , ; Ord. No , ; Ord. No , ) Sec Landscaped open space and recreation area. (a) At least 20 percent of the total land area of a lot in the urban business district B-3 shall be landscaped open space. (Ord. No. 862, ; Ord. No. 3-96, ; Ord. No , ; Ord. No , ; Ord. No , ; Ord. No , ) Sec Reserved. Editor's note Ord. No , adopted Nov. 12, 1998, repealed , which pertained to sidewalks for multifamily developments. See the Code Comparative Table. Page 7

13 1301 Garrison Drive, Williamsburg, Virginia This information was obtained from sources deemed to be reliable, but is not warranted. This offer subject to errors and omissions, or withdrawal, without notice.

14 1301 Garrison Drive Williamsburg, Virginia This information was obtained from sources deemed to be reliable, but is not warranted. This offer subject to errors and omissions, or withdrawal, without notice.

15 Demographic and Income Profile 1301 Garrison Dr, Williamsburg, Virginia, Prepared by Janice Lewis, CCIM 1301 Garrison Dr, Williamsburg, Virginia, Latitude: Ring: 1 mile radius Longitude: Summary Census Population 6,199 6,477 6,722 Households 1,995 2,096 2,234 Families Average Household Size Owner Occupied Housing Units Renter Occupied Housing Units 1,142 1,238 1,313 Median Age Trends: Annual Rate Area State National Population 0.75% 0.97% 0.84% Households 1.28% 0.93% 0.79% Families 1.09% 0.86% 0.72% Owner HHs 1.45% 0.89% 0.73% Median Household Income -1.21% 2.35% 1.89% Households by Income Number Percent Number Percent <$15, % % $15,000 - $24, % % $25,000 - $34, % % $35,000 - $49, % % $50,000 - $74, % % $75,000 - $99, % % $100,000 - $149, % % $150,000 - $199, % % $200, % % Median Household Income $44,268 $41,660 Average Household Income $61,046 $62,707 Per Capita Income $24,882 $25,561 Census Population by Age Number Percent Number Percent Number Percent % % % % % % % % % , % 1, % 1, % , % 1, % 1, % % % % % % % % % % % % % % % % % % % % % % Census Race and Ethnicity Number Percent Number Percent Number Percent White Alone 4, % 4, % 4, % Black Alone % % 1, % American Indian Alone % % % Asian Alone % % % Pacific Islander Alone 2 0.0% 2 0.0% 2 0.0% Some Other Race Alone % % % Two or More Races % % % Hispanic Origin (Any Race) % % % Data Note: Income is expressed in current dollars. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and June 21, Esri Page 1 of 6

16 Demographic and Income Profile 1301 Garrison Dr, Williamsburg, Virginia, Prepared by Janice Lewis, CCIM 1301 Garrison Dr, Williamsburg, Virginia, Latitude: Ring: 1 mile radius Longitude: Trends Annual Rate (in percent) Population Households Families Owner HHs Median HH Income Area State USA Population by Age Percent Household Income $35K - $49K 19.0% $50K - $74K 15.2% $25K - $34K 13.1% $15K - $24K 8.4% $75K - $99K 11.4% <$15K 15.2% $200K+ 2.5% $150K - $199K 3.9% $100K - $149K 11.2% 2016 Population by Race Percent White Black Am. Ind. Asian Pacific Other Two Percent Hispanic Origin: 6.7% Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and June 21, Esri Page 2 of 6

17 Demographic and Income Profile 1301 Garrison Dr, Williamsburg, Virginia, Prepared by Janice Lewis, CCIM 1301 Garrison Dr, Williamsburg, Virginia, Latitude: Ring: 3 mile radius Longitude: Summary Census Population 36,281 39,199 41,691 Households 13,910 14,992 16,036 Families 8,541 9,157 9,773 Average Household Size Owner Occupied Housing Units 8,176 8,621 9,247 Renter Occupied Housing Units 5,734 6,372 6,789 Median Age Trends: Annual Rate Area State National Population 1.24% 0.97% 0.84% Households 1.36% 0.93% 0.79% Families 1.31% 0.86% 0.72% Owner HHs 1.41% 0.89% 0.73% Median Household Income 1.51% 2.35% 1.89% Households by Income Number Percent Number Percent <$15,000 1, % 1, % $15,000 - $24,999 1, % 1, % $25,000 - $34,999 1, % 1, % $35,000 - $49,999 2, % 2, % $50,000 - $74,999 2, % 1, % $75,000 - $99,999 1, % 2, % $100,000 - $149,999 2, % 3, % $150,000 - $199,999 1, % 1, % $200,000+ 1, % 1, % Median Household Income $64,493 $69,511 Average Household Income $89,282 $96,035 Per Capita Income $35,884 $38,500 Census Population by Age Number Percent Number Percent Number Percent 0-4 1, % 1, % 1, % 5-9 1, % 1, % 1, % , % 1, % 1, % , % 3, % 3, % , % 5, % 5, % , % 4, % 4, % , % 3, % 4, % , % 4, % 4, % , % 4, % 4, % , % 4, % 4, % , % 2, % 3, % % 1, % 1, % Census Race and Ethnicity Number Percent Number Percent Number Percent White Alone 27, % 29, % 30, % Black Alone 5, % 5, % 6, % American Indian Alone % % % Asian Alone 1, % 1, % 2, % Pacific Islander Alone % % % Some Other Race Alone % % 1, % Two or More Races 1, % 1, % 1, % Hispanic Origin (Any Race) 2, % 2, % 3, % Data Note: Income is expressed in current dollars. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and June 21, Esri Page 3 of 6

18 Demographic and Income Profile 1301 Garrison Dr, Williamsburg, Virginia, Prepared by Janice Lewis, CCIM 1301 Garrison Dr, Williamsburg, Virginia, Latitude: Ring: 3 mile radius Longitude: Trends Annual Rate (in percent) Area State USA Population Households Families Owner HHs Median HH Income Population by Age Percent Household Income $35K - $49K 14.3% $25K - $34K 9.3% $15K - $24K 6.9% 2016 Population by Race $50K - $74K 16.1% <$15K 8.9% Percent $200K+ 7.6% 20 $75K - $99K 12.8% $150K - $199K 6.7% 10 $100K - $149K 17.5% 0 White Black Am. Ind. Asian Pacific Other Two Percent Hispanic Origin: 7.1% Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and June 21, Esri Page 4 of 6

19 Demographic and Income Profile 1301 Garrison Dr, Williamsburg, Virginia, Prepared by Janice Lewis, CCIM 1301 Garrison Dr, Williamsburg, Virginia, Latitude: Ring: 5 mile radius Longitude: Summary Census Population 66,776 72,647 77,903 Households 25,898 28,027 30,104 Families 17,524 18,829 20,164 Average Household Size Owner Occupied Housing Units 17,762 18,862 20,219 Renter Occupied Housing Units 8,136 9,165 9,885 Median Age Trends: Annual Rate Area State National Population 1.41% 0.97% 0.84% Households 1.44% 0.93% 0.79% Families 1.38% 0.86% 0.72% Owner HHs 1.40% 0.89% 0.73% Median Household Income 1.81% 2.35% 1.89% Households by Income Number Percent Number Percent <$15,000 2, % 2, % $15,000 - $24,999 1, % 1, % $25,000 - $34,999 2, % 2, % $35,000 - $49,999 3, % 4, % $50,000 - $74,999 4, % 2, % $75,000 - $99,999 3, % 4, % $100,000 - $149,999 5, % 5, % $150,000 - $199,999 2, % 2, % $200,000+ 2, % 3, % Median Household Income $72,656 $79,469 Average Household Income $97,358 $105,457 Per Capita Income $38,746 $41,850 Census Population by Age Number Percent Number Percent Number Percent 0-4 3, % 3, % 3, % 5-9 3, % 3, % 3, % , % 3, % 3, % , % 5, % 5, % , % 7, % 6, % , % 8, % 8, % , % 7, % 8, % , % 8, % 8, % , % 9, % 10, % , % 8, % 10, % , % 5, % 6, % 85+ 1, % 2, % 2, % Census Race and Ethnicity Number Percent Number Percent Number Percent White Alone 51, % 55, % 57, % Black Alone 9, % 10, % 10, % American Indian Alone % % % Asian Alone 2, % 2, % 3, % Pacific Islander Alone % % % Some Other Race Alone 1, % 1, % 1, % Two or More Races 1, % 2, % 3, % Hispanic Origin (Any Race) 3, % 4, % 6, % Data Note: Income is expressed in current dollars. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and June 21, Esri Page 5 of 6

20 Demographic and Income Profile 1301 Garrison Dr, Williamsburg, Virginia, Prepared by Janice Lewis, CCIM 1301 Garrison Dr, Williamsburg, Virginia, Latitude: Ring: 5 mile radius Longitude: Trends Annual Rate (in percent) Area State USA Population Households Families Owner HHs Median HH Income Population by Age Percent Household Income 2016 Population by Race $35K - $49K 12.8% $25K - $34K 8.2% 70 $50K - $74K 17.2% $15K - $24K 5.8% <$15K 7.2% Percent $75K - $99K 13.9% $200K+ 8.9% $150K - $199K 8.1% $100K - $149K 17.9% 0 White Black Am. Ind. Asian Pacific Other Two Percent Hispanic Origin: 6.4% Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and June 21, Esri Page 6 of 6

21 AGENCY DISCLOSURE In a real estate transaction, when the Agent represents the: Seller/Landlord: Buyer/Tenant: then an Agent under a listing agreement with a seller acts as the agent for the seller. The listing company and all of its broker/agents, and the selling company and all of its agents as subagents of the seller, would owe their fiduciary duties to the seller. The broker and broker's agents may still provide buyer/tenants, as customers, with information about properties and available financing, may show them properties, and may assist them in preparing an offer to purchase, option or lease a particular property. then an Agent under a contract with a buyer acts as the agent for that buyer only, as a "Buyer/Broker/Agent," and the Agent is not the seller's agent, even if the Purchase Contract provides that the Seller or the Listing Broker will pay the Agent for the services rendered to the buyer/tenant. An Agent acting as the buyer's/tenant's agent must disclaim sub agency if offered and must disclose the Buyer/Tenant Broker/Agent relationship when dealing with the seller's/landlord's Agent or the Seller/Landlord. The Buyer/Tenant Broker/Agent owes its fiduciary duties to the buyer/tenant. Buyer and Seller (Acting as a Dual Agent): then an Agent, either acting directly or through one or more of the brokerage firm's other Agents, may be the Agent of both the buyer and the seller, but only if the scope of the agency is limited by a written agreement and only with the express knowledge and written consent of both the buyer and the seller. An Agent representing both the buyer and the seller must disclose all information regarding the agency relationship, including the limitation on the Agent's ability to represent either party folly and exclusively. The Agent must not disclose to either party, without the prior consent of the party adversely affected by the disclosure, any information obtained within the confidentiality and trust of the fiduciary relationship. As an example, the Agent must not tell the buyer that the seller will accept a price lower than the listing price, nor tell the seller that the buyer will pay a price offered, without the prior consent of the party adversely affected by the disclosure. Campana Waltz Commercial Real Estate, LLC is the Listing Broker, Buyer Broker, Dual Agent for the property submitted in this information package. Acknowledged by: Campana Waltz Commercial Real Estate, LLC