2314 & 2402-2406 EXECUTIVE DRIVE GARLAND, TEXAS INVESTMENT SUMMARY TWO INDUSTRIAL BUILDINGS 49,3 SQUARE FEET SINGLE-TENANT 100% NNN LEASED ASKING PRICE: $3,450,000 CAP RATE: 7.3%
Offering Summary PROPERTY DESCRIPTION Stream Realty Partners is pleased to present the opportunity to purchase a 100% fee-simple interest in 2314 & Address: 2314 & 2402-2406 Executive Drive Garland, Texas 041 Submarket: Garland Year Built: 1984 & 1996 2402-2406 Executive Drive (the Property ), a two-building industrial portfolio strategically located in Garland, Texas within the greater Dallas/Fort Worth metropolitan area. The Property totals 49,3 square feet and is 100% net leased to Cimcon Finishing ( Cimcon ), an electroplating and metal finishing company that has occupied the space for over years. Investors have the unique opportunity to acquire a well-located, infill asset at an Net Rentable Area: 49,3 square feet attractive basis with over 8 years of remaining lease term. Land Area: Investment Highlights Occupancy: 77 DECATUR DENTON Single-tenant portfolio where tenant is responsible for 100% of operating expenses Tenant pays utility bills directly with providers LITTLE ELM STRONG RENT ROLL WITH STICKY LONG-TERM TENANCY Cimcon has been a loyal tenant at the Property for over years Proprietary tenant buildout is unique to Cimcon s operations, making it nearly impossible FLOWER MOUND STABILIZED YIELD WITH ANNUAL RENT GROWTH Secure, long-term leases with approximately 8.3 years of remaining term Contractual 1% annual escalations Dock Wells (2) FRISCO Clear Height: 24' - 26' Year 1 NOI: $252,529 KELLER Addison CARROLLTON GRAPEVINE Strategically located off Jupiter Road and Miller Road in the heart of Garland, RICHARDSON ADDISON Less than one mile from Interstate, the major east-west thoroughfare SAGINAW 199 Dallas Love Field HIGHLAND 183 Fort Worth Mecham Int l 161 IRVING 8 DFW INDUSTRIAL MARKET FUNDAMENTALS 183 achieve sub-5.0% cap rates 360 The DFW industrial market is the 5th largest in the United States, with a FORT market wide vacancy rate of 6.6%, allowing ClassA industrial sales WORTH to GARLAND 12 UNIVERSITY with convenient access to the greater DFW metroplex via Interstate and ARLINGTON 8 190 DFW Int l TX, proving excellent access to one of the submarkets busiest intersections Central Expressway A S K I N G P R PLANO ICE: $3,450,000 C A P R AT E : 7. 3 % OUTSTANDING LOCATION WITH REGIONAL ACCESSIBILITY Grade-Level (4); McKINNEY to cost-effectively move operations to other DFW municipalities Dock-High (2); Loading Doors: 100% PROSPER 100% NET LEASED ASSETS WITH MINIMAL LANDLORD RESPONSIBILITIES 2.153 acres DALLAS MESQUITE 1 GRAND PRAIRIE The Northeast Dallas Garland Mesquite industrial submarket BENBROOK boasts a sub-5.5% vacancy rate for shallow bay product LANCASTER 67 2 45
Executive Summary EXCEPTIONAL HISTORICAL PERFORMANCE AND LONG-TERM OCCUPANCY INFILL LOCATION WITH HIGH BARRIERS TO ENTRY STRONG IN-PLACE INCOME BACKED BY STABLE TENANCY HIGHLY FUNCTIONAL WITH LOW OFFICE FINISH LEADING SUBMARKET FUNDAMENTALS CIMCOM LEASE SUMMARY BUILDING SQUARE FEET % OF PORTFOLIO IN-PLACE RENT (PSF) RENT ESCALATIONS LEASE EXPIRATION REMAINING TERM 2314 Executive 25,560 51.8% $5.11 1.0% Dec-26 8.3 years 2402-2406 Executive 23,760 48.2% $5.05 1.0% Dec-26 8.3 years TOTALS / AVERAGES 49,3 100.0% $5.08 8.3 years * Rent is comprised of $5.05/SF of base rent with 1.0% annual escalations, plus approximately $0.06/SF of amortized tenant improvements over the lease term. 3
W RT TH Location Overview FRISCO 78 W MILLER RD PLANO REGENCY CREST DR KELLER Addison CARROLLTON GRAPEVINE RICHARDSON ADDISON 5 GARLAND 12 UNIVERSITY 5 Dallas Love Field HIGHLAND 183 161 IRVING 360 ARLINGTON WOOD DR DFW Int l 8 190 EXECUTIVE DR FLOWER MOUND HERMAN DR S JUPITER RD DISTRIBUTION DR MERRITT DR LITTLE ELM DALLAS MESQUITE 1 GRAND PRAIRIE 80 1 LANCASTER 4 67 45
Floor Plan - 2314 Executive Loading/Roll-Up Doors Dock-High (2) Roll-Up/Ventilation (2) Water/Sewer City of Garland Electricity Garland Power and Light Natural Gas TXU Energy Warehouse Lighting Fluorescent Lighting Clear Height 26' Fire Sprinkler System Yes Roof / Warranty Built-Up Gravel Roof (Asphalt) LIFT Exterior Wall Building Structure Concrete Tilt-Up Wall Panels; Exposed Aggregate Finish Concrete Tilt-Wall 5
Floor Plan - 2402-2406 Executive Loading/Roll-Up Doors Grade-Level (4) Dock Wells (2) Water/Sewer City of Garland Electricity Garland Power and Light Natural Gas TXU Energy Warehouse Lighting Fluorescent Lighting Clear Height 24' Fire Sprinkler System Yes Roof / Warranty Modified Bitumen Exterior Wall Building Structure Concrete Tilt-Up Wall Panels; Exposed Aggregate Finish Concrete Tilt-Wall 6
Location Overview GALLERIA CBD White Rock Lake M IL LE R RD REG ENC YC RES T S JUPIT 2402-2406 ER RD 2314 EXECU TIVE D R D D R O O W INVESTMENT SALES TEAM: JAMIE JENNINGS Managing Director 214.267.0452 jjennings@streamrealty.com ANDREW RABINOVICH Senior Financial Analyst 214.560.5111 andrew.rabinovich@streamrealty.com MARKET EXPERT: MATT DORNAK Vice President 214.267.0461 mdornak@streamrealty.com 7