Section 1 · 2020-02-28 · 2 PROPERTY INFORMATION 3 LOCATION INFORMATION 7 FINANCIAL ANALYSIS 13 SALE COMPARABLES 18 RENT COMPARABLES 23 DEMOGRAPHICS 28 Confidentiality & Disclaimer

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PROPERTY INFORMATION 3

LOCATION INFORMATION 7

FINANCIAL ANALYSIS 13

SALE COMPARABLES 18

RENT COMPARABLES 23

DEMOGRAPHICS 28

ContentsConfidentiality & DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichapand should not be made available to any other person or entity without the written consent ofMarcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation to prospective purchasers, and to establish only a preliminary level of interest in thesubject property. The information contained herein is not a substitute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes nowarranty or representation, with respect to the income or expenses for the subject property, thefuture projected financial performance of the property, the size and square footage of theproperty and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of theimprovements thereon, or the financial condition or business prospects of any tenant, or anytenant’s plans or intentions to continue its occupancy of the subject property. The informationcontained 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 containedherein, nor has Marcus & Millichap conducted any investigation regarding these matters andmakes no warranty or representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verify all of theinformation set forth herein.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant orlessee identified in this marketing package. The presence of any corporation’s logo or name is notintended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporationof Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commerciallisting of Marcus & Millichap, and is solely included for the purpose of providing tenant lesseeinformation about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS

Campo Verde Square2900 West Pioneer Parkway, Arlington, TX 76013

TABLE OF CONTENTS

Section 1 PROPERTY INFORMATION

4

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

Total Households 4,905 40,978 115,888

Total Population 11,421 102,841 315,484

Average HH Income $75,973 $76,173 $73,375

PROPERTY OVERVIEW

Marcus & Millichap is please to offer the opportunity to acquire a value-add, 38,400-square foot, multi-tenant retail flex

center located in Arlington, Texas.

OFFERING SUMMARY

Sale Price: $3,535,000

Building Size: 38,400 SF

Available SF: 7,200 SF

Lot Size: 2.6 Acres

Price / SF: $92.06

Cap Rate: 9.0%

Current NOI: $318,106

Pro Forma Cap Rate: 11.72%

Pro Forma NOI: $414,396

Year Built: 1974


PROPERTY INFORMATION | EXECUTIVE SUMMARY

5

PROPERTY DESCRIPTION

Marcus & Millichap is please to offer the opportunity to acquire a value-add, 38,400-square

foot, multi-tenant retail flex center located in Arlington, Texas. Campo Verde Square is

comprised of two multi-tenant buildings and one single-tenant building and is situated on

2.6 acres. The center is 81 percent occupied, providing potential upside by leasing the vacant

space. The center is anchored by Campo Verde Mexican Restaurant, which occupies 25

percent of the gross leaseable area. Other tenants include World Broadcasting Systems,

Restoring Faith Ministries, Joseph Williams, Daniel Darkwah, Albella Estupinan, Ana E

Portillo, Mi Despensa Latina, Pioneer Gold, Tyler L. Carver, Zahwee Thornton, and Raed

Barber.

LOCATION DESCRIPTION

Campo Verde Square is located on the south side of West Pioneer Parkway at the signalized

intersection with Roosevelt Drive. Traffic counts in front of the property are approximately

25,000 vehicles per day. The property is in close proximity to many national retailers

including Walmart Neighborhood Market, Walgreens, Jack in the Box, Kentucky Fried

Chicken, AutoZone, Kroger, Chuck E. Cheese's, CVS Pharmacy, Big Lots!, Dollar General,

Wingstop, Advance Auto Parts, Party City, Half Price Books, Aaron's, Planet Fitness and

many more. The surrounding area is densely populated with more than 315,845 residents

within five miles of the property. The five-mile average household income is $73,375.

The City of Arlington is a business-friendly city, situated in the center of the Dallas/Fort

Worth Metroplex. The city has devoted over 100 square miles of space to business, including

five business parks, and continues to attract high-quality businesses. Home to the University

of Texas at Arlington, Six Flags over Texas, AT&T Stadium and the Texas Rangers, Arlington

has become a center for family entertainment, educational excellence, cultural resources

and events, attracting more than eight million visitors annually. Arlington is positioned

halfway between Dallas and Fort Worth, just eight miles from Dallas/Fort Worth

International Airport, and is the third largest city in North Texas.


PROPERTY INFORMATION | PROPERTY DESCRIPTION

6

BUILDING INFORMATION

Occupancy % 81%

Tenancy Multiple

Year Built 1974

County Tarrant

Ownership Type Fee Simple

PROPERTY HIGHLIGHTS• 38,400-Square Foot, Multi-Tenant Retail Flex Center

• Value-Add Opportunity with Tremendous Upside Potential

• Center is Currently 81% Occupied with a Mix of Triple-Net and Gross Leases | ProForma Cap Rate is 11.72%

• Current Rents are Below Market

• Anchored by Campo Verde Mexican Restaurant | Long-Term Tenant that has Been in theCenter More than 26 Years

• Property Consists of Three Buildings Situated on 2.6 Acres

• Priced at $92 per Square Foot | Well Below Replacement Value

• Signalized, Hard Corner Location at the Intersection of West Pioneer Parkway andRoosevelt Drive | Traffic Counts are 25,000 Vehicles Per Day in Front of the Property

• Easily Accessible with Multiple Ingress and Egress Points

• Well-Positioned in a Densely Populated Area with a Five-Mile Population Exceeding316,320 Residents

• The City of Arlington is the Third Largest City in North Texas and Attracts More thanEight Million Visitors Annually


PROPERTY INFORMATION | COMPLETE HIGHLIGHTS

Section 2 LOCATION INFORMATION

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Campo Verde Square, TX


LOCATION INFORMATION | REGIONAL MAP

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LOCATION INFORMATION | LOCATION MAPS

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LOCATION INFORMATION | AERIAL MAPS

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Section 3 FINANCIAL ANALYSIS

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INVESTMENT OVERVIEW CURRENT PRO FORMA

Price $3,535,000 $3,535,000

Price per SF $92.06 $92.06

Cash-on-Cash Return (yr 1) 9.0 % 11.72 %

Total Return (yr 1) $318,106 $414,396

OPERATING DATA CURRENT PRO FORMA

Gross Income $467,064 $563,354

Operating Expenses $148,958 $148,958

Net Operating Income $318,106 $414,396

FINANCING DATA CURRENT PRO FORMA

Down Payment $3,535,000 $3,535,000

Loan Amount All Cash All Cash


FINANCIAL ANALYSIS | FINANCIAL SUMMARY

*Total base rent is based on the future base rent of $363,996 as of 11/01/2020. Current actual rent is $359,796.00. Seller shall credit Buyer the monthly rent differential on a pro rata basis, at closing.

INCOME SUMMARY CURRENT PER SF PRO FORMA PER SF

Base Rent $363,996 $11.67 $363,996 $11.67

Vacant Space at Market Rents $0 $0.00 $50,400 $7.00

Real Estate Taxes Reimbursements $70,854 $1.85 $103,000 $2.68

Insurance Reimbursements $8,117 $0.21 $11,800 $0.31

Common Area Maintenance Reimbursements $13,091 $0.34 $18,158 $0.47

Management Fee Reimbursements $11,006 $0.29 $16,000 $0.42

Gross Income $467,064 $12.16 $563,354 $14.67

EXPENSE SUMMARY CURRENT PER SF PRO FORMA PER SF

Real Estate Taxes $103,000 $2.68 $103,000 $2.68

Insurance $11,800 $0.31 $11,800 $0.31

Utilities $7,865 $0.20 $7,865 $0.20

Repairs & Maintenance $10,293 $0.27 $10,293 $0.27

Management Fee $16,000 $0.42 $16,000 $0.42

Gross Expenses $148,958 $3.88 $148,958 $3.88

Net Operating Income $318,106 $8.28 $414,396 $10.79

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FINANCIAL ANALYSIS | INCOME & EXPENSES

TENANTNAME

UNITNUMBER

UNITSIZE (SF)

% OFGLA

LEASESTART

LEASEEND

ANNUALRENT

ESCDATE

PRICEPER YEAR

LEASETYPE

EXPENSEREIMBURSEMENT

World Broadcasting System 2110-A 1,200 3.13 $8,400 $7.00 Gross

Vacant 2110A-2 2,400 6.25

Restoring Faith Ministries (1) 2110-B 2,400 6.25 2/01/19 6/30/24 $21,000

*5/1/2021

*6/1/2022

*7/1/2023

$8.75

$9.00

$9.25

$9.50

Gross

Joseph Williams 2110-C 1,200 3.13 8/26/17 9/30/20 $7,200 $6.00 NNN $4,662.39

Joseph Williams 2110-D 1,200 3.13 8/26/17 9/30/20 $7,200 $6.00 NNN $4,662.39

Joseph Williams 2110-E 1,200 3.13 9/15/16 9/30/20 $7,200 $6.00 NNN $4,662.39

Vacant 2110-F 2,400 6.25

Daniel Darkwah 2114-A 3,600 9.38 6/10/19 7/31/20 $30,000 $8.33 NNN $13,972.26

Vacant 2114-B 2,400 6.25

Albella Estupinan 2114-C 2,400 6.25 2/01/19 1/31/23 $19,200

2/1/2021

2/1/2022

$8.00

$8.50

$9.00

NNN $9,309.88

Ana E Portillo 2114-D 1,200 3.13 11/01/18 10/31/22 $9,000

11/1/2021

$7.50

$8.00

NNN $4,662.39

Mi Despensa Latina 2114-E 1,200 3.13 10/10/19 10/31/22 $9,600 $8.00 MG $600.00

(1) Tenant has free rent in April 2021, May 2022, and June 2023.

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FINANCIAL ANALYSIS | RENT ROLL

TENANTNAME

UNITNUMBER

UNITSIZE (SF)

% OFGLA

LEASESTART

LEASEEND

ANNUALRENT

ESCDATE

PRICEPER YEAR

LEASETYPE

EXPENSEREIMBURSEMENT

Pioneer Gold 2900 1,200 3.13 5/01/11 MTM $36,876 $30.73 NNN $4,662.39

Tyler L. Carver 2902 2,400 6.25 9/13/19 9/30/26 $36,000 $15.00 NNN $9,309.88

Vacant 2906 1,200 3.13

Zahwee Thornton 2908 1,200 3.13 8/09/19 7/31/22 $16,800

8/1/2021

$14.00

$15.00

NNN $4,662.39

Barber 2910 1,200 3.13 4/10/17 3/31/20 $16,800 $14.00 NNN $4,662.39

Campo Verde Restaurant 2912-18 9,600 25.0 1/01/93 12/31/22 $138,720 $14.45 NNN $37,239.50

Totals/Averages 39,600 $363,996 $9.19 $103,068.25

*Total annual rent is based on the future base rent of $363,996 as of 11/01/2020. Current actual rent is $359,796.00. Seller shall credit Buyer the monthly rent differential on a pro rata basis, at closing.

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FINANCIAL ANALYSIS | RENT ROLL

Section 4 SALE COMPARABLES

SUBJECT PROPERTY

2900 West Pioneer Parkway | Arlington, TX 76013

$3,535,000Sale Price: 2.6 ACLot Size:

1974Year Built: 38,400 SFBuilding SF:

$92.06Price PSF: 9.0%Cap:

$318,106NOI:

1

COLLEGE PLAZA

1302 South Cooper Street | Arlington, TX 76013



$262.52Price PSF: 5.26%CAP:

08/30/2017Closed: 100%Occupancy:

Pacesetters Staffing, Cheers Fitness, Cheers Nutrition, Chicago's ChickenCoop

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2

RED BIRD PLAZA SHOPPING CENTER

4099 West Camp Wisdom Road | Dallas, TX 75237





Aaron's

2

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SALE COMPARABLES | SALE COMPS

3

BACHMAN CORNER SHOPPING CENTER

3021 Bachman Drive | Dallas, TX 75220





Baja Insurance, GI Insurance & Tax, Empowered by Team Beauty

3

4

PARK VISTA RETAIL

5040 North Tarrant Parkway | Fort Worth, TX 76244




10/01/2018Closed: 87.5%Occupancy:

Donuts, Galactic Games, Ginger Root, Jet's Pizza, Lifetime Dentistry, VelvetBox, Lux Nail Spa

4

5

MEADOWBROOK EAST

6605-6719 Meadowbrook Drive | Fort Worth, TX 76112





Family Dollar, AutoZone, The Dock Bookshop, Kingdom Ministry, Metro PCS,Papa John's Pizza

5

2 0


SALE COMPARABLES | SALE COMPS

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP

Campo Verde Square

2900 West Pioneer Parkway

Arlington, TX 76013

$3,535,000 38,400 SF $92.06 9.0%

SALE COMPS PRICE BLDG SF PRICE/SF CAP CLOSE

College Plaza1302 South Cooper Street

Arlington, TX 76013

$1,730,000 6,590 SF $262.52 5.26% 08/30/2017

Red Bird Plaza Shopping Center4099 West Camp Wisdom Road

Dallas, TX 75237

$1,200,000 25,340 SF $47.36 5.63% 01/07/2019

Bachman Corner Shopping Center3021 Bachman Drive

Dallas, TX 75220

$1,686,500 5,548 SF $303.98 7.03% 12/14/2018

Park Vista Retail5040 North Tarrant Parkway

Fort Worth, TX 76244

$3,150,000 16,760 SF $187.95 7.71% 10/01/2018

Meadowbrook East6605-6719 Meadowbrook Drive


$2,825,000 49,151 SF $57.48 7.84% 12/19/2017

PRICE BLDG SF PRICE/SF CAP CLOSE

Totals/Averages $2,118,300 20,678 SF $102.44 6.69%

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2

3

4

5

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SALE COMPARABLES | SALE COMPS SUMMARY

2 2

2900 West Pioneer Parkway | Arlington, TX 76013SUBJECT PROPERTY

1 1302 South Cooper Street

Arlington, TX 76013

COLLEGE PLAZA 24099 West Camp Wisdom Road

Dallas, TX 75237

RED BIRD PLAZA SHOPPINGCENTER 3

3021 Bachman Drive

Dallas, TX 75220

BACHMAN CORNER SHOPPINGCENTER 4 5040 North Tarrant Parkway


PARK VISTA RETAIL

5 6605-6719 Meadowbrook Drive


MEADOWBROOK EAST


SALE COMPARABLES | SALE COMPS MAP

Section 5 RENT COMPARABLES

2 4

SUBJECT PROPERTY

2900 West Pioneer Parkway | Arlington, TX 76013

$7.00 SF/YRLease Rate: NNNLease Type:

7,200 SFSpace Size: 1974Year Built:

2.6 ACLot Size:

1

1700 WEST PARK ROW DRIVEArlington, TX 76013

$12.00 SFLease Rate: NNNLease Type:


12,566 SFBldg Size: 0.96 ACLot Size:

66.2%Occupancy:

1

2

2400 WEST PIONEER PARKWAYPantego, TX 76013




98%Occupancy:

2


RENT COMPARABLES | RENT COMPS

2 5

3

4000 WEST PIONEER PARKWAYArlington, TX 76013




63.4%Occupancy:

3

4

2504 WEST PARK ROW DRIVEPantego, TX 76013




89.8%Occupancy:

4

5

1525 SOUTH BOWEN ROADPantego, TX 76013




77.9%Occupancy:

5


RENT COMPARABLES | RENT COMPS

2 6

SUBJECT PROPERTY PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %

Campo Verde Square

2900 West Pioneer Parkway

Arlington, TX 76013

$7.00 SF/yr (NNN) 7,200 SF 38,400 SF 81.25%

RENT COMPS PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %

Park Row Shopping Center1700 West Park Row Drive

Arlington, TX 76013

$12.00 4,250 SF 12,566 SF 66.2%

Four Seasons Plaza2400 West Pioneer Parkway

Pantego, TX 76013

$12.00 4,750 SF 86,550 SF 98%

The Shops at Springs Crossing4000 West Pioneer Parkway

Arlington, TX 76013

$13.00 2,750 SF 7,519 SF 63.4%

Park Place2504 West Park Row Drive

Pantego, TX 76013

$14.00 1,600 SF 15,660 SF 89.8%

The Towers1525 South Bowen Road

Pantego, TX 76013

$15.00 14,350 SF 64,904 SF 77.9%

PRICE/SF/YR AVAILABLE SF BLDG SF OCCUPANCY %

Totals/Averages $13.20 5,540 SF 37,440 SF 79.06%

1

2

3

4

5


RENT COMPARABLES | RENT COMPS SUMMARY

2 7

1 1700 West Park Row DriveArlington, TX 76013

PARK ROW SHOPPING CENTER 2 2400 West Pioneer ParkwayPantego, TX 76013

FOUR SEASONS PLAZA 3 4000 West Pioneer ParkwayArlington, TX 76013

THE SHOPS AT SPRINGS CROSSING 4 2504 West Park Row DrivePantego, TX 76013

PARK PLACE

5 1525 South Bowen RoadPantego, TX 76013

THE TOWERS

2900 West Pioneer Parkway | Arlington, TX 76013SUBJECT PROPERTY


RENT COMPARABLES | RENT COMPS MAP

Section 6 DEMOGRAPHICS

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POPULATION 1 MILE 3 MILES 5 MILES

Total Population 11,421 102,841 315,484

Median age 39.3 37.5 35.9

Median age (Male) 37.8 36.2 34.8

Median age (Female) 40.7 38.7 36.9

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 4,905 40,978 115,888

# of persons per HH 2.3 2.4 2.7

Average HH income $75,973 $76,173 $73,375

Average house value $180,278 $174,304 $156,583

ETHNICITY (%) 1 MILE 3 MILES 5 MILES

Hispanic 14.2% 19.8% 27.5%

RACE 1 MILE 3 MILES 5 MILES

% White 77.2% 73.2% 67.1%

% Black 15.8% 15.5% 22.3%

% Asian 3.1% 7.7% 7.1%

% Hawaiian 0.2% 0.1% 0.2%

% American Indian 0.7% 0.8% 0.9%

% Other 3.0% 2.7% 2.7%

* Demographic data derived from CoStar Realty Information Gorup


DEMOGRAPHICS | DEMOGRAPHICS MAP & REPORT

Population Density

2.5 K 3 K 4 K 4.5 K 7.5 K

3 0


DEMOGRAPHICS | POPULATION DENSITY

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.

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:

that the owner will accept a price less than the written asking price; that the buyer/tenant will pay a price greater than the price submitted in a written offer; and 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 available at www.trec.texas.gov Regulated by the Texas Real Estate Commission IABS 1-0

11-2-2015

Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate License No. Email Phone

Sales Agent/Associate’s Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

Marcus & Millichap 9002994 [email protected] 972-755-5200

Tim A. Speck 432723 [email protected] 972-755-5200

Documents

Section 1 · 2020-02-28 · 2 PROPERTY INFORMATION 3 LOCATION INFORMATION 7 FINANCIAL ANALYSIS 13 SALE COMPARABLES 18 RENT COMPARABLES 23 DEMOGRAPHICS 28 Confidentiality & Disclaimer