$2,060,000 | 8.50% cap
TRANSCRIPT
$2,060,000 | 8.50% CAPEXCLUSIVE OFFERING 1058 Texan TrailGrapevine, TX 76051
Exclusively Marketed By:
817.269.2487 | Direct
Ken Wimberly, CCIM
• Two 3,727 SF Buildings on One Platted Lot
• Corporate Guaranteed Lease Through May 2020
• A Mixed-Use Development Consisting of Office, Medical, Retail, & Multifamily Living
• Located Just a Few Short Miles from Dallas/Fort Worth International Airport
• Dense Location in Grapevine, TX with over 107,000 Population in a 5-Mile Radius
• High Income Location with 3-Mile Household Income of $91,495
All information furnished regarding propertyfor sale, rental or financing is from sourcesdeemed reliable, but no warranty orrepresentation is made to the accuracythereof and same is submitted subject toerrors, omissions, change of price, rental orother conditions, prior sale, lease orfinancing or withdrawal without notice. Noliability of any kind is to be imposed on thebroker herein.
This offering may be subject to avariable-rate commission, pleasecontact the listing broker for moreinformation about the commissionstructure.
Table of Contents
netleaseexperts.com
817.269.2487 | Direct
TX #503180
Ken Wimberly, CCIM
Net Leased Office (Echo Locum Tenens)
Our team of professionals is dedicated tothe purchase and sale of investment realestate. We are experts at assessing valueand uncovering hidden opportunities. Intoday's market we continue to see some ofthe greatest opportunities in NNN assets.
We have dedicated divisions that focusexclusively on NNN properties. Our in-depthexpertise, constant studying of the marketand strategic partnerships with officesaround the country make KW Net LeaseAdvisors THE AUTHORITY in investmentreal estate.
We have strategic partner offices in majormarkets around the country, giving ourclients unparalleled access to some of themost proficient investment sales experts inthe U.S. We readily cooperate (share fees)with the brokerage community in order toreach a much broader audience than manyof our competitors. This fee-sharing practiceoften allows us to create an auction effectwith our properties to maximize the price forour clients.
Our mission is simple - to maximize valuefor our clients while building long-termrelationships and having fun! Utilizingprofessional contacts, the national networkof KW Commercial, the power of theInternet, Social Media, and the worldwideCCIM Network, we provide the mostcomprehensive source of real estateinvestment tools available.
Exclusively Marketed By: KW Net Lease Advisors
Investment Overview
Site Overview
Location Overview
Tenant Profile
Retail Map
Aerial Photo
Street Map
Location Map
Advisor Bio & Contact
Disclaimer
Information About BrokerageServices
Back Page
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LEASE OVERVIEW
GENERAL EXPENSES AND RESPONSIBILITIES
PROPERTY DETAILS
Net Leased Office (Echo Locum Tenens) | Grapevine, TXINVESTMENT OVERVIEW
REMAINING LEASE TERM: 2 Years, 10 Months
RENT COMMENCEMENT: 5/1/2014
LEASE EXPIRATION: 5/1/2020
LEASE TYPE: NNN
SCHEDULED RENT INCREASES: None
OPTIONS & INCREASES: N/A
BASE ANNUAL RENT: $175,169
INSURANCE: PAID BY Tenant
PARKING LOT MAINTENANCE: PAID BY Tenant
PROPERTY TAXES: PAID BY Tenant
BUILDING AREA: 7,454 SF
LAND AREA: 1.1 AC
YEAR BUILT: 2014
GUARANTOR:Sound InpatientPhysicians, Inc.
MINERALS Do Not Convey
PRICE (PSF): $276.36
ROOF & STRUCTURE: PAID BY Landlord
HVAC: PAID BY Tenant
PRICE: $2,060,000 | CAP RATE: 8.50% | NOI: $175,169
NOTES: Tenant has lease buyout option after sixtieth (60) month with six (6) months’ written notice and a penalty in cash equal to six (6) months of MinimumGuaranteed Rent plus NNN expenses
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GRAPEVINE, TX
LOCATION HIGHLIGHTS
POPULATION 2015: 49,800
POPULATION 2020: 52,858
GROWTH 2010-2015: 1.16% annually
GROWTH 2015-2020: 1.20% annually
AVG HH INCOME: $105,441
MAJOR EMPLOYERS EMPLOYEES
DFW INT, AIRPORT 60,000
GAME STOP CORP 3,380
UPS 2,000
ABOUT GRAPEVINE
Grapevine is the host to Dallas/Fort Worth International Airport, the third largest airport in the world. Featuring acentral U.S. location and nonstop service from more than 200 cities, including over 50 international destinations,D/FW International Airport is the perfect arrival destination. Grapevine is located 10 minutes from D/FWInternational Airport and conveniently located between Dallas and Fort Worth, making it easy to experience thebest of North Texas. The sophisticated and charming city of Grapevine is the perfect location for your Texasmeeting, convention or leisure getaway.
LIVEGrapevine Texas boasts a quality that embraces culture, tourism, community and natural beauty - all in anaffordable setting. The community is home to one of the most authentic downtowns in America,world-renowned festivals and events, state-of-the-art healthcare and a Dallas/Fort Worth location second tonone.
WORKHome to nearly 2,900 businesses, our economy reflects a balance of successful small businesses that serve theTexas market to major corporations that serve the world. From technology to tourism, come explore theentrepreneurial energy that is Grapevine, Texas.
PLAYWith eleven wineries, three golf courses, the Grapevine Vintage Railroad, Grapevine Lake, award winning eventsand festivals, more than 26 miles of trails, water-front cabins and more than 200 dining options, Grapevine isyour one-stop destination.
Sources: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2015 and 2019; Grapevine, TX EconomicDevelopment; Grapevine Convention & Visitor Bureau
Net Leased Office (Echo Locum Tenens) | Grapevine, TXLOCATION OVERVIEW
netleaseexperts.com
ABOUT ECHO LOCUM TENENS - SOUND PHYSICIAN AFFILIATE
Echo Locum Tenens, an affiliate of Sound Physicians, is a leader in medical staffing. We support over 300hospitals and clinics nationwide at any given time. Our goal is to be the easiest locum tenens organization towork with.
We set high standards for the providers we represent and the colleagues who work with us. Echo LocumTenens is a physician-founded and led organization with a passion for quality, service, teamwork, innovationand integrity.
Our teams are dedicated to the organization’s core values of quality, service, teamwork, innovation andintegrity. These values are central to the success of each provider placement and healthcare facility we partnerwith.
Quality – Dedication to creating the best clinical outcomes and processesService – We strive to exceed the expectations of our patients and the medical communityTeamwork – Commitment to collaboration in careInnovation – Creative and skillful problem solving that drives improvementIntegrity – Honor commitments to our patients, our practice and our partner hospitals
HEALTHCARE ORGANIZATIONS: We don’t want to be another agency on your list, but a true strategic partnerthat will go the extra mile in the time of need for your facility, community, and, most importantly, the patientsand families you serve. We would like to become an extension of your service lines and help you focus onproviding high-quality patient care.
HEALTHCARE PROVIDERS: We have dedicated our lives to the healthcare providers we serve, and we give youour commitment that we will always have your best interest at heart. Being a healthcare provider is one of themost rewarding professions, but we also understand the hectic life you live. Echo takes great pride in assistingyou every step of the way through the locum tenens process and matching you with an opportunity that bestsuits your needs.Source: Echo Locum Tenens Official Site
Net Leased Office (Echo Locum Tenens) | Grapevine, TXTENANT PROFILE
2525 Ridgmar BlvdSuite 240Fort Worth, TX 76116
T 817.269.2487C [email protected] #503180
netleaseexperts.com
Chief Visionary OfficerKEN WIMBERLY, CCIM
Net Leased Office (Echo Locum Tenens) | Grapevine, TXADVISOR BIO & CONTACT
PROFESSIONAL BACKGROUND
Kenneth F. Wimberly serves as Chief Visionary Officer for KW Net Lease Advisors, specializing in single-tenant NNN retail and medical officeinvestment sales with a strong background in land sales, lot sales and acquisition, syndications, site selection, bank REO’s, and buyer/tenantrepresentation. His clients include high net worth individuals, REITs, institutional funds, private family endowments, and commercial developers.
Prior to joining KW Commercial, Wimberly served as a Senior Advisor at Sperry Van Ness. He is founder and managing member of a real estateinvestment firm, Noble Crest Capital, LLC (NCC). Wimberly served his country during Gulf War I as an aircrew member flying aboard EP-3E aircraft asa CTR (cryptologist technician – Morse code) for the United States Navy, stationed in Misawa, Japan. He has also worked in the insurance/investment field and has held the Series 6, Series 7, and Series 63 investment licenses and the Group I insurance license. He received his CCIMdesignation in 2010 and is a member of the International Council of Shopping Centers (ICSC).
Wimberly is a member of the Greater Fort Worth Association of Realtors, the Texas Association of Realtors, and the Society of Commercial Realtors.Additionally, he served as the 2008 Chairman of the Board of Directors for the Society of Commercial Realtors in Fort Worth. He was presented withthe 2012 Charles D. Tandy Award for his exemplary professional standards as a commercial Realtor. He previously served on the RCA/GoverningCouncil of the Texas Association of Realtors. Wimberly received the 2012 William C. Jennings Award for the most outstanding commercialtransaction in the entire state of Texas. He is also one of only ten members across the country to serve on the Executive Leadership Council for KWCommercial. Wimberly is the Operating Principal/Franchise Owner of Keller Williams in Abilene, TX.
He is active in his community and is proud of the 9 years he served as a “Big” in the Big Brothers/Big Sisters program. He has three children, Grace,Knox and Kai, and is married to the girl of his dreams, Amber. The family enjoys spending their time travelling, snow skiing, spending time outdoors,playing board games, and playing Texas Hold’em Poker!
MEMBERSHIPS & AFFILIATIONS
Wimberly is a member of the Greater Fort Worth Association of Realtors, the Texas Association of Realtors, and the Society of Commercial Realtors.
Additionally, he served as the 2008 Chairman of the Board of Directors for the Society of Commercial Realtors in Fort Worth. He was presented with
the 2012 Charles D. Tandy Award for his exemplary professional standards as a commercial Realtor. He previously served on the RCA/Governing
Council of the Texas Association of Realtors. Wimberly received the 2012 William C. Jennings Award for the most outstanding commercial
transaction in the entire state of Texas. He is also one of only ten members across the country to serve on the Executive Leadership Council for KW
Commercial. Wimberly is the Operating Principal/Franchise Owner of Keller Williams in Abilene, TX.
EDUCATION
BBA in Finance (Real Estate Concentration)
Texas Christian University
netleaseexperts.com
Net Leased Office (Echo Locum Tenens) | Grapevine, TXDISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the partyreceiving it from KW Net Lease Advisors and should not be made available to any other person or entity without the written consent of KW Net LeaseAdvisors.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers and to establish only a preliminarylevel of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligence investigation and makes no warranty or representation, with respect tothe income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the propertyand improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, thephysical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property.
The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, KW Net Lease Advisors hasnot verified, and will not verify, any of the information contained herein, nor has KW Net Lease Advisors conducted any investigation regarding thesematters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyersmust take appropriate measures to verify all of the information set forth herein.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of confidential nature, that you will hold and treat it in the strictestconfidence and that you will not disclose its contents in any manner detrimental to the interest of the Owner. You also agree that by accepting thisMemorandum you agree to release KW Net Lease Advisors and hold it harmless from any kind of claim, cost, expense or liability arising out of yourinvestigation and/or purchase of this property
netleaseexperts.com
Net Leased Office (Echo Locum Tenens) | Grapevine, TXINFORMATION ABOUT BROKERAGE SERVICES
Before 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.
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 in writing 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 the Act and associated with the broker to
communicate with and carry out instructions of the other party
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 sub agency 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.
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 REPRESENTS THE BUYER:
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
IF THE BROKER ACTS AS AN INTERMEDIARY:
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 you have any questions regarding the duties
and responsibilities of the broker, you should resolve those questions before
proceeding.
If you choose to have a broker represent you:
Ken Wimberly, CCIM
A Member of
Exclusively Marketed By:
817.269.2487 | [email protected]
2525 Ridgmar Blvd. | Suite 240 | Fort Worth, TX 76116 | P: 817.200.7620 | F: 817.962.2638 | netleaseexperts.com