FAMILY DOLLAR [FREESTANDING] Garland, TX. Offering Memorandum. Alex Johnson Associate Brokerage. presented exclusively by:

Transcription

1 FAMILY DOLLAR [FREESTANDING] Garland, TX Offering Memorandum presented exclusively by: Alex Johnson Associate Brokerage

2 FAMILY DOLLAR [FREESTANDING] executive summary INTRODUCTION The Retail Connection is pleased to present the following opportunity to purchase a 100% leased, single-tenant NNN retail investment in Garland, Texas located in the Dallas, Texas MSA. The subject property is a well-constructed, freestanding, 8,000 SF CMU building situated on a 1 acre lot. Located approximately 14 miles northeast of downtown Dallas, the Garland area has experienced significant growth, benefiting from Dallas-Fort Worth s explosive population growth over the past few years. The Dallas MSA continues to rank highly across the major U.S. metropolitan areas in job creation & population growth which will continue to trend upwards and trickle down into all of the DFW suburbs and surrounding trade areas, including that of the Garland area. The Garland area specifically is well positioned to continue to benefit from the influx of new residents due to its proximity to Dallas Love Field Airport [16 miles] and Dallas-Fort Worth International Airport [27 miles] combined with its ability to serve as home to a dense population with room for continued growth in the immediate trade area. FAMILY DOLLAR HIGHLIGHTS INCLUDE: National Credit Operator: Family Dollar 8,000 SF Long-Term NNN Lease: Tenant has extended lease twice and it does not expire until June of 2019 Strategic Location: Irreplaceable location in the heart of a dense residential and working population, taking advantage of immediate proximity to approximately 120,000 residents in a 3-mile ring Situated in the Heart of the Garland Sub-Market: Positioned minutes away from Garland Road [Highway 78] and President George Bush Turnpike [SH 121] creates outstanding accessibility from all sides of the sub-market Affordable Residential Community with Ability to Grow: With approximately 34,000 households and average household incomes of $66,000 within a 3-mile ring, Garland is primed for continued residential growth, projecting greater than 5% population growth over the next 5 years 1

3 FAMILY DOLLAR [FREESTANDING] executive summary DEMOGRAPHICS Demographics: 1 Mile 3 Mile 5 Mile 2015 Total Population 17, , , Total Population 18, , , Daytime Population 11,686 90, , Total Households 4,959 33,983 88, Total Households 5,221 35,503 93, Average Houshold Income $62,806 $66,489 $72,115 3

4 FAMILY DOLLAR [FREESTANDING] aerials AERIALS 4

5 FAMILY DOLLAR [FREESTANDING] aerials 0 5 miles SITE : 5

6 FAMILY DOLLAR [FREESTANDING] aerials 0 1 miles SITE : 6

7 N N 1st 1st St St FAMILY DOLLAR [FREESTANDING] aerials W Buckingham Rd N N Glenbrook Glenbrook Dr Dr Historic Downtown Garland Williams Stadium Granville Arts Center Lavon Dr 78 TEXAS Avenue E B Weaver Elementary Castle Dr Country Country Club Club Rd Rd N Bradford Park Mt. Hebron Baptist Church Pleasant Pleasant Valley Valley Rd Rd TX TEXAS Castle Dr This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty. R:\MaPublisher Data\Texas\DFW\Fliers\Garland - Summerwind Plaza\Aerial_FD.ai 7

8 Yukon Yukon Dr Dr N N Country Country Club Club Rd Rd Trinidad Trinidad Ln Ln Holbrook Holbrook Dr Dr FAMILY DOLLAR [FREESTANDING] aerials Castle Dr Country Club Bingo 0 R:\MaPublisher Data\Texas\DFW\Fliers\Garland - Summerwind Plaza\Zoom Aerial_FD.ai 8

9 FAMILY DOLLAR [FREESTANDING] aerials THE Castle & Country Club Garland retail CONNECTION Yale Park % & 190 # $ 78 NEC Country Club Rd & Castle Dr Spring Creek Forest Preserve Firewheel Town Town Center Center Firewheel Winters Park 2015 Population Density by Block Group 1 Dot = 5 People Garland Garland # $ 66 Rowlett Rowlett City Park Houston Park Tinsley Park ace Park B B Owens Park Kinsley Road Park Mccree Annex Park : Mccree Park Samuell Garland Park R:\MapInfo Workspaces & TablesTexas\DFW\Johnson\Pop Density Map_Country Club & Castle Eastern Hills Park Pecan Grove Park Bass Park Ross Park 2525 McKinnon Street, Suite 700 Dallas, Texas This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.

10 FAMILY DOLLAR [FREESTANDING] aerials THE retail CONNECTION Castle & Country Club Garland Yale Park &% 190 Spring Creek Forest Preserve # $ 78 NEC Country Club Rd & Castle Dr Winters Park Firewheel Town Center 2015 Median HH Income by Block Group $150,000 and above $100,000 to $150,000 $75,000 to $100,000 $60,000 to $75,000 $40,000 to $60,000 $0 to $40,000 Garland $# 66 City Park Rowlett Houston Park ace Park Tinsley Park B B Owens Park Kinsley Road Park Mccree Annex Park Mccree Park : Samuell Garland Park R:\MapInfo Workspaces & TablesTexas\DFW\Johnson\Median Income Map_Country Club & Castle Eastern Hills Park Pecan Grove Park Bass Park Ross Park 2525 McKinnon Street, Suite 700 Dallas, Texas This map was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty. 10

11 FAMILY DOLLAR [FREESTANDING] building drawings DEMOGRAPHIC REPORT 11

12 FAMILY DOLLAR [FREESTANDING] demographics DEMOGRAPHICS TREND REPORT N. Country Club Road & Castle Drive Garland, Texas Coordinates Longitude: Latitude: POPULATION 1 Mile [3.14 SQ/MI] 3 Mile [28.27 SQ/MI] 5 Mile [78.53 SQ/MI 2015 Total Population 17, , , Total Population 18, , ,529 % Population Change % 4.46% 5.95% HOUSEHOLDS 2015 Total Households 4,959 33,983 88, Total Households 5,221 35,503 93,684 % Household Change % 4.47% 5.73% 2015 Average Household Size DAYTIME POPULATION & ESTABLISHMENTS 2015 Total Daytime Population 11,686 90, , Total Daytime Work Population 2,775 34,078 83,643 INCOME 2015 Average HH Income $62,806 $66,489 $72, Median HH Income $52,959 $57,695 $62, Per Capita Income $17,915 $20,859 $23,613 12

13 FAMILY DOLLAR [FREESTANDING] tenant description FAMILY DOLLAR In 1958, a 21-year-old entrepreneur with an interest in merchandising became intrigued with the idea of operating a low-overhead, self-service retail store. Leon Levine believed he could offer his customers a variety of high-quality, good value merchandise for under $2. Because he had grown up in his family s retail store, he understood value, quality and customer satisfaction. In November 1959, Leon Levine opened the first Family Dollar store in Charlotte, North Carolina, and was on his way to becoming a retailing legend. Right from the start, he had a well-developed philosophy of what Family Dollar would be and how it would operate, a philosophy from which he and his management team have never strayed. The concept is a simple one, the customers are the boss, and you need to keep them happy. He created a general floorplan that he used in each of his stores that allowed customers to easily shop for their favorite products in any Family Dollar store. With the stores uniformly laid out and stocked, store managers were able to focus on providing good customer service. This concept for a self-serve, cash-and-carry neighborhood discount store in low to middle income neighborhoods proved so successful that today Family Dollar is a chain with over 8,000 stores from Maine to California. Family Dollar was recently acquired by Dollar Tree Stores and the combined corporation has over 13,600 stores operating today. 13

14 FAMILY DOLLAR [FREESTANDING] Garland, Texas The Retail Connection 2525 McKinnon Street Suite 700 Dallas, Texas Alex Johson 14

15 FAMILY DOLLAR [FREESTANDING] Garland, Texas Information About Brokerage Services Texas law requires all real estate license holders to give the following informaɵon about brokerage services to prospecɵve buyers, tenants, sellers and landlords TYPES OF REAL ESTATE LICENSE HOLDERS:. A BROKER is responsible for all brokerage acɵviɵes, 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 informaɵon about the property or transacɵon received by the broker; Answer the client s quesɵons and present any offer to or counter-offer from the client; and Treat all parɵes to a real estate transacɵon honestly and fairly. 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 wriʃen lisɵng to sell or property management agreement. An owner's agent must perform the broker s minimum duɵes above and must inform the owner of any material informaɵon about the property or transacɵon known by the agent, including informaɵon 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 wriʃen representaɵon agreement. A buyer's agent must perform the broker s minimum duɵes above and must inform the buyer of any material informaɵon about the property or transacɵon known by the agent, including informaɵon disclosed to the agent by the seller or seller s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parɵes the broker must first obtain the wriʃen agreement of each party to the transacɵon. The wriʃen agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligaɵons as an intermediary. A broker who acts as an intermediary: Must treat all parɵes to the transacɵon imparɵally and fairly; May, with the parɵes' wriʃen 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 instrucɵons of each party to the transacɵon. Must not, unless specifically authorized in wriɵng to do so by the party, disclose: ᴑ that the owner will accept a price less than the wriʃen asking price; ᴑ that the buyer/tenant will pay a price greater than the price submiʃed in a wriʃen offer; and ᴑ any confidenɵal informaɵon or any other informaɵon that a party specifically instructs the broker in wriɵng 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 transacɵon 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 duɵes and responsibiliɵes to you, and your obligaɵons under the representaɵon 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 noɵce is being provided for informaɵon purposes. It does not create an obligaɵon for you to use the broker s services. Please acknowledge receipt of this noɵce below and retain a copy for your records. Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Phone Designated Broker of Firm License No. Phone Licensed Supervisor of Sales Agent/ Associate License No. Phone Sales Agent/Associate s Name License No. Phone Regulated by the Texas Real Estate Commission Buyer/Tenant/Seller/Landlord Initials Date InformaƟon available at IABS