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1301 S Capital of TX Hwy, Bldg C-300WEST LAKE HILLS, TX 78746
NAI Partners+ 512 580 6025901 S MoPac Expy, Bldg. 1, Suite 550 Austin, Texas USA 78746www.naipartners.com
OFFERING MEMORANDUM
Building C-300
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This of fering memorandum is for general information only. No information, forward looking statements, or estimations presented herein represent any f inal determination on investment performance. While the information presented in this of fering memorandum has been researched and is thought to be reasonable and accurate, any real estate investment is speculative in nature. NAI Partners and/or its agents cannot and do not guarantee any rate of return or investment timeline based on the information presented herein.
By reading and reviewing the information contained in this of fering memorandum, the user acknowledges and agrees that NAI Partners and/or its agents do not assume and hereby disclaim any liability to any party for any loss or damage caused by the use of the information contained herein, or errors or omissions in the information contained in this of fering memorandum, to make any investment decision, whether such errors or omissions result from negligence, accident or any other cause.
Investors are required to conduct their own investigations, analysis , due diligence, draw their own conclusions, and make their own decisions. Any areas concerning taxes or specif ic legal or technical questions should be referred to lawyers, accountants, consultants, brokers, or other professionals licensed, qualif ied or authorized to render such advice.
In no event shall NAI Partners and/or its agents be liable to any party for any direct, indirect, special, incidental, or consequential damages of any kind whatsoever arising out of the use of this of fering memorandum or any information contained herein. NAI Partners and/or its agents specif ically disclaim any guarantees, including, but not limited to, stated or implied potential profits , rates of return, or investment timelines discussed or referred to herein.
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DISCLAIMER
Ryan McCulloughSENIOR VICE PRESIDENT
Tyler JaynesSENIOR VICE PRESIDENT
Connor WatsonSENIOR ASSOCIATEtel [email protected]
NAI PARTNERS CONTACTS:
LEAD AGENTS
Tucker Burns ASSOCIATE
Geoffrey Garza ASSOCIATE
Sean Anderson ASSOCIATE
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EXECUTIVE SUMMARY
12,317 SFRBA
$ $6,100,000 PRICING
6.16%CAP RATE%$375,510NOI$
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RARE SINGLE TENANT INVESTMENT5-year, single tenant, NNN lease with 2.5% annual increases allowing for stable cash flow from a credit tenant
PRIVATE GARAGE WITH ELEVATORSuite C-300 has exclusive access to a private 3-car garage including a separate direct-to-suite elevator
LOCATION - BREATHTAKING VIEWSSituated beautifully in the prestigious hills of Westlake, this site offers immediate access to an abundance of amenities while offering tremendous views of downtown Austin and the Colorado river valley
CONDO WITH INVESTMENT GRADE TENANTDeveloped and previously occupied by former Governor of Texas, John Connally, and former Lt. Gov. Ben Barnes: this unit has been extensively renovated to house one of the world's top trial firms for complex business litigation.
PROPERTY HIGHLIGHTS
FAVORABLE STATE TAX LAWSTexas is one of seven states that currently do not impose a state income or investment tax
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RENT ROLL
S Capital of TX Hwy - VPD 51,043
S Capital of TX Hwy - VPD 51,043
TENANT TRADE NAME
RENTABLE SF TERM LEASE
COMMENCEMENTLEASE
STRUCTUREMONTHLY BASE
RENT PSF
ANNUAL BASE RENT
PSF
MONTHLY BASE RENT
ANNUALIZED RENT INCREASES
REID COLLINS & TSAI LLP 12,317 5 Year COE NNN $2.50 $30.00 $30,792.50 $369,510.00 2.5% annual
Additional Rent (Parking) 500 $500.00 $6,000.00 2.5% annual
NOI: $31,292.50 $375,510.00
Building C-300
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https://reidcollins.com/
777777
888888
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AERIAL MAP
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AERIAL MAP
Lake Austin
Barton Creek
Austin Lake Hills
6D Ranch
The CapitolBarton Creek Coore & Crenshaw Golf Course
Barton Creek Fazio Canyons Golf Course
Lost Creek Country Club
UT Golf Club
River Place Country Club
Davenport Ranch
Rollingwood
Austin Country Club
West Lake Hills
SITE
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S C
apit
al o
f TX
Hw
y - V
PD
51,0
43
S C
apit
al o
f TX
Hw
y - V
PD
51,0
43
Building C-300
Downtown Austin - 15 min
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1212
POPULATION 1 MILE 3 MILES 5 MILES
2021 Population - Current Year Estimate 4,191 38,604 204,274
2026 Population - Five Year Projection 4,397 40,728 218,447
HOUSEHOLDS
2021 Households - Current Year Estimate 1,486 16,667 90,902
2010-2021 Household Growth 0.8% 0.7% 2.2%
HOUSEHOLD INCOME
2021 Average Household Income $201,306 $169,446 $132,593
DAYTIME EMPLOYMENT
2021 Businesses 1,342 4,238 20,3092021 Employees 11,183 38,333 238,990
DEMOGRAPHICS
1 MILE
3 MILE
5 MILE
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AUSTIN OFFICE REAL ESTATE MARKET
CUMULATIVE MONTHLY SALES VOLUME
INVESTMENT SALES TRENDSReal Capital Analytics data reports office sales volume for Q1 2021 in the Austin area at $252.4 million, down from this time last year at $483.9 million. The primary capital composition for buyers so far in 2021 was made up of 91.6% private investors, and for sellers, the majority was 49.0% private investors, and 47.8% institutional. A significant transaction that took place during the first quarter was Moore & Associates selling Frontera Crossing in north Austin. The 163,772-sq.-ft. office building at 101 W. Louis Henna Blvd. was sold to Montana Avenue Capital Partners. Current tenants at the time of sale include Celink, Brown & Gay and Micron Technology.
CONSTRUCTION ACTIVITY8.0 million sq. ft. of new construction is underway to finish the first quarter in 2021. During the last five years, overall inventory has increased by 16.6% or 13.6 million sq. ft. to register at 95.5 million sq. ft. Class A space has grown by 29.5% or 11.2 million sq. ft. reaching a total inventory of 49.3 million sq. ft. during the same time period. Developers have been active across Austin, predominantly in the CBD and the East/Southeast submarkets making up over half of the space under construction. Companies are doing all they can to recruit and retain talent by leasing well located offices with abundant amenities. New supply delivered to the market in Q1 2021 stood at 1.2 million sq. ft. of which 72.2% is available for lease.
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1
2
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J F M A M J J A S O N D
Billi
ons
(SF)
2021 2017 2018 2019 2020
35
35
35
281
183
183
183
183
290290
290
360
620
130
130
195
130 304
1
1
45
45
95
95
95
29
29
29
71
71
71
21
21
79
1. CBD
2. Central
3. CedarPark/Georgetown/Round Rock
4. North/Domain
5. Northeast
6. Northwest
7. South
8. Southeast
9. Southwest
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WHY AUSTIN IS THE #1 CITY OF THE FUTUREPOPULATION GROWTH OF 2.5% ANNUALLY
• Austin has been #1 in population growth for 8 years in a row, according to CBS Austin.
• The City of Austin is home to nearly 965,000 residents with almost 2.2 million residing in the Austin-Round Rock metropolitan area.
• Population in Austin increased by 32.7% between 2009 and 2018.
• Austin remains one of the top destinations for migrating talent, with 6.7% of Austin residents having lived somewehere elsewhere just one year earlier.
• The Austin metropolitan area is predicted to experience a population growth rate of 31.6% between 2020 and 2030.
INCREASING JOB OPPORTUNITY • The GDP of the Austin-Round Rock metropolitan
area is more than $146.7 billion, according to the Federal Reserve Bank of St. Louis, and has grown by more than 64% since 2010.
• Job growth in Austin last year was 3.3%.
• Kiplinger projects job growth in Texas will 1 .6% in 2020, with Austin having employing growth of around 2% after eight solid years of "red hot" gains.
• Unemployment rate in the Austin Metro area is 2.4%.
#1 Best Place to Live 2019
#3 Best Place to Live 2020 – 2021#1 Fastest Growing Large
City in the Country#1 Real Estate Market
to Invest 2020 #1 US City to Start a Business
Austin
BostonNew YorkChicago
Seattle
San Francisco Bay Area
Southern California
CORPORATE DESIRABILITY
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Building C-300
Ryan McCulloughSENIOR VICE PRESIDENT
Tyler JaynesSENIOR VICE PRESIDENT
Connor WatsonSENIOR ASSOCIATEtel [email protected]
NAI PARTNERS CONTACTS:
Tucker Burns ASSOCIATE
Geoffrey Garza ASSOCIATE
Sean Anderson ASSOCIATE
LEAD AGENTS
1301 S Capital of TX Hwy, Bldg C-300WEST LAKE HILLS, TX 78746
OFFERING MEMORANDUM
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 offer to or counter-offer from the client; and Treat all parties to a real estate transaction 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 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:
ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ 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.
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.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone
