Fairmont Parkway Acreage · retailers such as Kroger, Jack in the Box, Denny's, KFC, Taco Bell, Amegy Bank, Waffle House, Burger King, Pizza Hut, Subway among many others. Highway

LA PORTE, TX

Fairmont ParkwayAcreage

OFFERING MEMORANDUM

CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified 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 diligence investigation. Marcus & Millichap has not made any investigation, and makes no 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 of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any 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.

LA PORTE, TX

Fairmont Parkway Acreage

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 name is not 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.

NON-ENDORSEMENT NOTICE

Section 1 PRICING AND FINANCIAL ANALYSIS

Section 2 PROPERTY DESCRIPTION

Section 3 ON MARKET COMPARABLES

Section 4 RECENT SALES

Section 5 MARKET OVERVIEW

Section 6 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS


Fairmont Parkway AcreageLA PORTE, TX

PRICING AND FINANCIAL ANALYSIS

1

PRICING AND FINANCIAL ANALYSIS


Summary

Property Fairmont Parkway Acreage

Property Address West Fairmont Parkway

La Porte, TX 77571

Price 450,000

Down Payment 50% / $225,000

Lot Size (SF) 105,458

Price/SF $4.27

Lot Size (Acres) 2.4210

Price/Acre $185,874

Buildable SF 105,458

Price/Buildable SF $4.27

Lot Dimensions 255.32 x 402.83 x 305.55 x 322.08

Type of Ownership Fee Simple

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 V0040505 Marcus &Millichap. All rights reserved.

Site Description

Assessor's Parcel Number 125742000000(5) & (6)

Zoning General Commercial

Taxes $13,802

Tax Year 2017

Frontage West Fairmont

Parkway, 155.32 Feet

Utilities All Available

Financing

FIRST TRUST DEED

Loan Amount $225,000

Loan Type Proposed New

Interest Rate 5.5%

Amortization 15

FINANCIAL OVERVIEW


PROPERTY DESCRIPTION

Marcus & Millichap is proud to exclusively represent the sale of 2.42 acres of commercially zoned land with direct frontage on Fairmont Parkway in La Porte, Texas (Houston M.S.A.).

Fairmont Parkway is one of the area’s major east/west arteries connecting Highway 146 to Beltway 8, the intermediate beltway circling the greater Houston area. Fairmont Parkway also serves to connect the major commercial and industrial developments in La Porte, and at this location, traffic counts exceed 34,710 cars per day.

Just two miles east of the property, at the intersection of Fairmont Parkway and Highway 146, are clusters of major retailers such as Kroger, Jack in the Box, Denny's, KFC, Taco Bell, Amegy Bank, Waffle House, Burger King, Pizza Hut, Subway among many others. Highway 146 is the area’s major north-south highway connecting many of the communities to the east of Houston including Baytown, La Porte, Seabrook and Kemah.

Six miles west of the property, Fairmont Parkway leads to the most significant retail cluster in Pasadena and its surrounding communities at its intersection with Beltway 8. Here, there are over a million square feet of retail developments with major anchors like Target and Super Walmart.

La Porte is bounded on the north by the Houston Ship Channel and the Barbours Cut Terminal, on the east by Galveston Bay, on the south by Bayport Terminal and is flanked on its north and west sides by various petrochemical plants located within La Porte’s industrial districts.

This tract provides investors the opportunity to secure direct frontage on one of the area's most traveled thoroughfares, which will serve as an excellent location for retail, office, medical and restaurant developments in the future.

Investment Highlights

■ 2.42 Acres at $4.27 Per Square Foot

■ Zoned General Commercial

■ 255.32 Feet of Direct Frontage

■ All Utilities Are Available

■ High-Traffic; 34,710 Cars Per Day

■ Great Self Storage, Retail, Office, RestaurantLocation

■ Access to State Highway 146, State Highway225 and Beltway 8

3




INVESTMENT OVERVIEW

La Porte is a city in Harris County, Texas, United States, within the Bay Area of the Houston, Sugar Land and Baytown metropolitan area. It is the fourth largest incorporated city in Harris County.

La Porte has approximately 35,000 people and is part of the near southeast area of Houston that includes Pasadena and Deer Park. These cities make up a major part of the Gulf Coast’s heavy industrial plants, the Houston Ship Channel and the area’s petrochemical refining capacity.

Barbours Cut in La Porte is a major shipping facility and will be the hub for increased tonnage resulting from the expansion of the Panama Canal due for completion next year.

The Port of Houston is the largest in the U.S. in foreign tonnage and second in total tonnage. Additionally, the Port of Houston's newest addition, Bayport, was established just south of La Porte. Bayport Container and Cruise Terminal willsubstantially increase the number of containers and cruise ship passengers that pass through Houston.

The Houston region has more than 45 percent of the U.S. petrochemical manufacturing capability.

In the last five years La Porte has been a hot bed of large industrial distribution facilities that are special logistics transportation oriented buildings. All the industrial business gives La Porte an excellent tax base and has served an increasingly important role in international trade since the 1970's.

Major employers in the area include Aker Industrial Constructors, Total Petrochemicals USA, La Porte Independent School District, International Plant Services, Rockwood Service Corporation, LP&D Digital Satellite Systems and DuPont among others.

La Porte also has a major visitor economy. Four major attractions draw over 472,000 visitors annually. These attractions include the San Jacinto Monument, the Battleship Texas, Sylvan Beach Park and the Bay Forest Golf Course.

4




LA PORTE OVERVIEW

Local Map Regional Map

5




AREA MAPS

6




PLAT MAP

7




AERIAL PHOTO


MARKET OVERVIEW

20

MARKET OVERVIEW



Geography

The Houston metro is located in southeastern Texas

and composed of Harris, Galveston, Brazoria, Fort

Bend, Chambers, Montgomery, Austin, Liberty and

Waller counties. Bordered on the southeast by the Gulf

Coast, the metro encompasses Galveston Bay. The

Houston Ship Channel links the city of Houston to the

Gulf of Mexico. The area’s terrain is level and drains

into a number of bayous and canals. Growth has

sprawled, primarily to the north and west, making

Houston the fifth-most populated metro in the nation.

Market Highlights

A city on the move

■ Houston will remain a top destination for corporate

relocations due to its business-friendly environment.

Low costs of living, doing business

■ Houston has one of the lowest costs of living among

major U.S. metro areas.

Abundant higher-education facilities

■ There are more than 40 post-secondary educational

institutions in the metro.

HOUSTON

Houston-The Woodlands-Sugar Land Metro

21

MARKET OVERVIEW

Largest Areas in Metro by Population


* ForecastSources: Marcus & Millichap Research Services, U.S. CensusBureau, Experian

Metro

The Houston metro consists of nine counties and has a

population of more than 6.5 million people. Houston is

the largest city, with approximately 2.2 million

residents, followed by Pasadena and Pearland.

Infrastructure

Great strides have been made to upgrade Houston’s

transportation infrastructure, with installments of

MetroRail and the completion of Interstate 10 in West

Houston now comprising sections of the state’s first

interstate toll road. A portion of U.S. 59 through

Houston has been upgraded and renamed Interstate 69.

When the 1,600-mile interstate is complete, Houston

will have better access to Canada and Mexico. Since

1994, construction on the massive State Highway 99, or

“Grand Parkway,” has driven growth in the metro. This

outer loop will be the largest beltway in the U.S.

Air service is provided by George Bush Intercontinental

Airport, one of the country’s busiest airports. Other

major airports include Ellington Field and William P.

Hobby Airport. The latter recently expanded to

accommodate Southwest Airlines’ international travel.

The Port of Houston contains 25 miles of facilities

located along the Houston Ship Channel and has

recently been expanded. The port is one of the world’s

busiest, moving more than 200 million tons of cargo,

and it records nearly 8,000 vessel calls annually. As the

closest gulf port to the Panama Canal, Houston will

benefit from the port’s increased capacity.


Houston 2,245,100

Pasadena 155,000

The Woodlands 103,100

Pearland 101,800

League City 93,500

Sugar Land 89,500

HOUSTON

Airports

■ George Bush Intercontinental Airport

■ William P. Hobby Airport

■ Ellington Field

Major Roadways

■ Interstates 10, 45, and 69 (new)

■ Sam Houston Tollway, 610 Loop, Hwy. 290.

■ Grand Parkway

Rail

■ Freight - Union Pacific, BNSF

■ Passenger - Amtrak

■ Commuter - MetroRail

Port

■ Port of Houston

The Houston Metro is:

■ 160 miles from Austin

■ 195 miles from San Antonio

■ 250 miles from Dallas

■ 310 miles from Mexico

■ 345 miles from New Orleans

■ 745 miles from El Paso

22

MARKET OVERVIEW


* ForecastSources: Marcus & Millichap Research Services, Bureau ofEconomic Analysis, Moody’s Analytics, U.S. Census Bureau,Fortune

Economy

The Houston economy has diversified since the 1980s

into industries such as biotechnology, distribution,

logistics and nanotechnology; the metro is still the

center of the U.S. petroleum industry. Today, energy

accounts for roughly 40 percent of the local economy.

Houston leads the nation in petrochemical production

and refining, and ranks highly in manufacturing

agricultural chemicals, fertilizers and pesticides. The

area is also the world’s primary producer of oil-field

equipment. Other products manufactured in Houston

are paper, electrical and electronic machinery, iron and

steel. Low oil prices will hinder economic gains this year

on the exploration or upstream side while downstream

activity such as petrochemicals and refining will benefit.

Healthcare is gaining economic prominence and several

new hospitals are opening. Specialized education and

training institutions provide an extraordinary economic

resource in the metro. The Texas Medical Center is one

of the largest medical complexes in the world. The

center is composed of more than 50 healthcare and

research institutions and treats 7 million patients

annually while employing more than 100,000 people.

The Port of Houston is one of the country’s busiest for

exports and is in the process of upgrading its facilities to

handle the larger supertankers that will come through

the widened Panama Canal. The port directly supplies

thousands of jobs and generates billions of dollars in

business revenue, and it is central to the region’s

ongoing development as a hub for international trade.


HOUSTON

23

MARKET OVERVIEW


Labor

Houston’s labor pool is made up of nearly 3 million individuals. The local economy has diversified over the past

decades, although energy-related employment still accounts for a sizable portion of jobs. The energy industry

consists of the following components: upstream energy (oil and gas exploration and production), midstream

energy (pipeline transportation and oil-field equipment manufacturing) and downstream energy (refining,

chemicals manufacturing). The recent downturn in crude oil prices will slow the local employment growth this

year; however, substantial structural shifts to diversify Houston’s employment base have reduced its vulnerability

to energy fluctuations.

The Port of Houston, George Bush Intercontinental Airport and a large retail segment contribute to making the

trade, transportation and utilities sector the largest employment sector in the metro; it comprises 20 percent of all

nonfarm jobs. The sector will expand 1.4 percent annually through 2020. Professional and business services

accounts for 16 percent of total employment, and annual gains of 3.2 percent in this sector should boost the local

office market.

The construction sector, which employs 205,200 workers, is expected to post average annual gains of 4 percent

through 2020.

* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’s Analytics


HOUSTON

24

MARKET OVERVIEW


Major Private Employers

Employers

The metro serves as the headquarters for 27 Fortune

500 companies in industries such as energy,

transportation and technology. Corporations on the list

include ConocoPhillips, Sysco and Waste Management.

Houston is third among metros nationwide in the

number of Fortune 500 headquarters, behind only New

York City and Chicago. Additionally, many other

Fortune 500 companies maintain administrative

headquarters in the area. Of the world’s 100 largest

non-U.S.-based corporations, nearly half maintain non-

retail operations in the region.

Metrowide, employers grew payrolls by an average of

3.0 percent annually over the past five years. Average

annual growth of 1.8 percent is projected over the next

five years. Houston’s major employers include The

Kroger Co., ExxonMobil Corp., Shell Oil Co. and the

Methodist Hospital System. More than half of these

companies are headquartered locally. ExxonMobil’s new

385-acre campus in Spring is expected to house 10,000

workers.

Though Houston is home to many major corporations,

businesses with 250 or more workers account for only a

small portion of total employment. The metro has

hundreds of thousands of small businesses, which

provide jobs across all employment sectors.

* ForecastSources: Marcus & Millichap Research Services, BLS, Moody’sAnalytics, Experian


HOUSTON

Memorial Hermann Healthcare System

University of Texas

The Kroger Co.

ExxonMobil Corp.

Shell Oil Co.

Methodist Hospital System

United Continental Holdings

Baker Hughes Inc.

St. Luke’s Episcopal Health System

Hewlett-Packard

25

MARKET OVERVIEW


Demographics

The metro’s population grew by more than 600,000

residents between 2010 and 2015, and will outpace the

United States’ average growth through the next five

years, increasing 1.7 percent annually. A large portion of

the growth will come from in-migration, as an

expanding employment base attracts young workers to

the region. As a result, the area has one of the lowest

median ages among major U.S. metros, at 33.7 years.

Around 29.0 percent of residents fall within their prime

employment years of 25 to 44.

The availability of employees also helps attract

corporations seeking a large, affordable and skilled labor

pool. Approximately 29 percent of area residents age 25

and older have attained at least a bachelor’s degree and

10 percent hold a graduate or professional degree.

A skilled workforce along with the concentration of

Fortune 500 headquarters and major business

operations in the region contribute to income growth.

The metro’s median household income, currently at

$61,500 per year, is well above that of the nation at

$56,100 annually, and is expected to rise further over in

the next five years.

Relatively high incomes have afforded more than 62

percent of households in the metro to own their homes.

Through 2020, incomes are expected to rise faster than

home prices, making homeownership more affordable

for some residents.

* ForecastSources: Marcus & Millichap Research Services, AGS, Experian,Moody’s Analytics, U.S. Census Bureau


HOUSTON

26

MARKET OVERVIEW

The information contained in the market overview comes from sources deemed to be reliable, however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein. The most timely data available at time of production, including estimates and forecasts, were used and may be subject to revision.


Quality of Life

Outdoor activities abound in Houston as a result of the

city’s favorable location and climate. More than a dozen

state parks and recreation areas lie within a short drive

of Houston, and more than 500 parks and open spaces

are located in the immediate area.

For those seeking cultural activities, Houston is one of

few U.S. cities with permanent professional resident

companies in opera, ballet, orchestra and theater. The

area also has a strong collection of museums including

the Lawndale Art Center, the Children’s Museum of

Houston and the Museum of Fine Arts, Houston.

Houston is home to four professional sports teams: the

Houston Texans, the Houston Astros, the Houston

Rockets and the Houston Dynamo.

Educational opportunities play a key role in Houston’s

quality of life. The education and health services sector

accounts for 12 percent of total employment. Johnson

Space Center for instance, is a popular tourist and

educational destination. Houston offers distinguished

school districts and more than 40 colleges, universities

and educational institutions. The metro is also known

internationally for its medical community and is home

to the Texas Medical Center, the largest medical center

of its kind in the world.

* ForecastSources: Marcus & Millichap Research Services, NationalAssociation of Realtors®, Moody’s Analytics, U.S. CensusBureau


HOUSTON

Employment Trends Population Trends

27

Vacancy Trends Rent Trends

MARKET OVERVIEW


■ Total employment in the Houston Area market is

expected to expand 0.7 percent in 2015 with the creation

of 20,000 jobs. This is a heavy slowdown from last year,

when employers generated 108,900 new positions, a 3.8

percent increase. Retail spending is set to rise 3.1 percent

this year following a 4.5 percent gain in 2014.

■ Multifamily residential completions will surge in 2015,

posting a 57 percent year-over-year increase. Single-

family homes will also realize gains, albeit on more

moderate levels, up 6 percent this year. Household

formation is up 2 percent since 2014, helping drive

demand for both climate and non-climate controlled

self-storage space.

■ As multifamily complexes become a more popular

housing option, the need for self-storage units will

increase through 2015. Heightened demand this year

will push vacancy down 130 basis points to 9.8 percent,

well below the national vacancy rate. In 2014, vacancy

fell 190 basis points, indicating a trend of metrowide

tightening.


■ Rents for climate controlled and non-climate controlled

facilities will jump 6.3 percent to $1.36 per square foot

and 6.0 percent to 95 cents per square foot, respectively,

in 2015. Last year, asking rents rose 4.3 percent for

climate controlled space and 3.3 percent for non-climate

controlled space.

* ForecastNote: Rent based on 10x10 unitsSources: Marcus & Millichap Research Services; BLS; REIS Services, LLC; U.S. Census Bureau

HOUSTON

28

MARKET OVERVIEW

■ Nationwide, self-storage supply is estimated at 8.3 square feet per capita. The self-storage supply in Texas is well above the

national average at 12.8 square feet per capita. Supply of self-storage units in the Houston metro, which is even with the

national average and below the state average, is estimated at 8.3 square feet per capita.


Self-Storage Market Trends


* Trailing 12 months through 2QSources: 2015 Self-Storage Almanac; CoStar Group, Inc.

HOUSTON


DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

2000 Population 7,734 29,559 93,831

2010 Population 8,882 33,642 100,962

2014 Population 9,083 35,355 105,644

2019 Population 9,568 37,028 110,346

2000 Households 2,552 9,965 31,970

2010 Households 3,007 11,552 35,425

2014 Households 3,086 12,180 37,230

2019 Households 3,280 12,854 39,214

2014 Average Household Size 2.97 2.92 2.84

2014 Daytime Population 1,739 14,766 42,898

2000 Owner Occupied Housing Units 89.76% 78.33% 74.94%

2000 Renter Occupied Housing Units 7.60% 17.13% 20.38%

2000 Vacant 2.64% 4.54% 4.67%



2014 Vacant 0.36% 2.04% 4.74%



2019 Vacant 0.21% 1.73% 4.54%

$ 0 - $14,999 4.1% 6.2% 6.1%

$ 15,000 - $24,999 4.1% 6.7% 6.2%

$ 25,000 - $34,999 4.8% 5.4% 6.8%

$ 35,000 - $49,999 9.4% 12.8% 10.8%

$ 50,000 - $74,999 24.0% 21.3% 18.2%

$ 75,000 - $99,999 23.0% 18.6% 15.8%

$100,000 - $124,999 13.4% 14.2% 14.1%

$125,000 - $149,999 9.3% 7.3% 8.9%

$150,000 - $199,999 5.6% 5.4% 7.6%

$200,000 - $249,999 1.2% 1.0% 2.4%

$250,000 + 1.3% 1.1% 3.1%

2014 Median Household Income $78,599 $71,797 $77,860

2014 Per Capita Income $29,875 $27,984 $33,961

2014 Average Household Income $87,914 $81,217 $96,215

Demographic data © 2012 by Experian.

30




DEMOGRAPHIC REPORT

Geography: 5 miles

Population

In 2014, the population in your selected geography is 105,643. The population has changed by 12.58% since 2000. It is estimated

that the population in your area will be 110,346 five years from now, which represents a change of 4.45% from the current year. The

current population is 49.60% male and 50.39% female. The median age of the population in your area is 36.9, compare this to the

Entire US average which is 37.3. The population density in your area is 1,346.13 people per square mile.

Households

There are currently 37,229 households in your selected geography. The number of households has changed by 16.45% since 2000.

It is estimated that the number of households in your area will be 39,213 five years from now, which represents a change of 5.32%

from the current year. The average household size in your area is 2.83 persons.

Income

In 2014, the median household income for your selected geography is $77,860, compare this to the Entire US average which is

currently $51,972. The median household income for your area has changed by 21.03% since 2000. It is estimated that the median

household income in your area will be $88,442 five years from now, which represents a change of 13.59% from the current year.

The current year per capita income in your area is $33,961, compare this to the Entire US average, which is $28,599. The current

year average household income in your area is $96,214, compare this to the Entire US average which is $74,533.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 81.24% White, 3.55% Black, 0.10% Native American and 4.00%

Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and

5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 26.90% of the current year

population in your selected area. Compare this to the Entire US average of 17.13%.

Housing

In 2000, there were 25,133 owner occupied housing units in your area and there were 6,835 renter occupied housing units in your

area. The median rent at the time was $533.

Employment

In 2014, there are 42,897 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 64.13% of employees are employed in white-collar occupations in this geography, and 35.71% are employed in blue-collar

occupations. In 2014, unemployment in this area is 4.63%. In 2000, the average time traveled to work was 25.9 minutes.


31




SUMMARY REPORT

The number of people employed in a given area per square mile.


32




EMPLOYMENT DENSITY

Average income of all the people 15 years and older occupying a

single housing unit.


33




AVERAGE HOUSEHOLD INCOME

Approved by the Texas Real Estate Commission for Voluntary UseTexas law requires all real estate licensees to give the following information

about brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage ServicesBefore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.

IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written -listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.

IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.

IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License

Act. The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:(1) shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized inwriting to do so by the owner;(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.

If you choose to have a broker represent you,you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If youhave any questions regarding the duties and responsibilities of the broker, you should resolve thosequestions before proceeding.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

34

Buyer, Seller, Landlord or Tenant Date

CLOSING PAGE

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.



DISCLAIMER

LA PORTE, TX

OFFERING MEMORANDUM


Offices Throughout the U.S. and Canada

www.MarcusMillichap.com

Documents

Fairmont Parkway Acreage · retailers such as Kroger, Jack in the Box, Denny's, KFC, Taco Bell, Amegy Bank, Waffle House, Burger King, Pizza Hut, Subway among many others. Highway