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Espada Shopping Center

OFFERING MEMORANDUM

SAN ANTONIO, TX

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.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS

& MILLICHAP AGENT FOR MORE DETAILS.

SAN ANTONIO, TX


Section 1 PROPERTY DESCRIPTION

Section 2 PRICING AND FINANCIAL ANALYSIS

Section 3 MARKET OVERVIEW

Section 4 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS

Espada Shopping CenterSAN ANTONIO, TX


PROPERTY DESCRIPTION

Marcus & Millichap is pleased to present this 100 percent occupied, newly developed shopping center at the intersection of Loop 410 and 281 South.

The intersection accommodates more than 60,000 cars per day and is shared with national names such as Jack-In-The-Box (open 24 hours), McDonald's and Holiday Inn Express.

The area has been benefiting from explosive growth due to the recently discovered Eagle Ford Shale which has created an oil and natural boom for the South Texas economy (See page 19 in the Market Overview). The Holiday Inn Express, located across Loop 410 is fully occupied for nearly the entire year. Additionally, the area is benefiting from the newly constructed Texas A&M University-San Antonio campus with more than 4,000 students in its first full academic year (2011-2012) and more than 25,000 students expected by 2025.

Espada Shopping Center is 100 percent occupied with a mix of regional and local tenants on NNN leases. The adjacent pad sites are currently under negotiations for various uses and are ready for development.

Investment Highlights

■ Located at the Intersection of Loop 410and 281 South

■ High Traffic Area - Over 40,000 Vehiclesper Day on Loop 410

■ 100 Percent Occupied in a RapidlyDeveloping Submarket

■ New 2009 Construction

■ Near new Texas A&M San AntonioCampus with More Than 4,000 Studentsin its First Full Academic Year (2011-2012) and 25,000 Students Expected in2025

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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 Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2012 Marcus & Millichap T0490031

INVESTMENT OVERVIEW

The Offering

Property Espada Shopping Center

Property Address 11643 Southeast Loop 410

San Antonio, TX 78221

Site Description

Number of Stories 1

Year Built 2009

Gross Leasable Area (GLA) 13,958 SF

Lot Size 2.518 Acres

Type of Ownership Fee Simple

Landscaping Moderate

Topography Relatively Flat

Construction

Foundation Concrete Slab

Parking Surface Concrete

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PROPERTY SUMMARY

Construction

Features

■ Spanish Tile Awnings Along Storefront

■ Varied Roof Line and Neutral Paint Scheme

■ Anodized Aluminum Frames around Glass Storefronts

■ Highly Visible Pylon Signage

■ Concrete Parking and Service Areas

■ Curbed, Lighted Parking Area with Attractive Landscaping

■ Tower Features on End Cap Units Feature Spanish Tile

■ Concrete Sidewalk Along Entire Tenant Store Frontage

■ Attractive Landscaping Does not Obstruct Visibility

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PROPERTY FEATURES

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PROPERTY PHOTOS

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PROPERTY PHOTOS

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FLOOR PLAN

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Local Map Regional Map

AREA MAPS


PRICING AND FINANCIAL ANALYSIS

Price $2,450,000

Down Payment 35% $857,500

Price per Square Foot (GLA) $175.53

Gross Leasable Area (GLA) 13,958

Year Built 2009


VITAL DATA

CAP Rate - Current 9.36%

Net Operating Income - Current $229,326

Net Cash Flow After Debt Service - Current $114,810

Total Return - Current 17.08% / $146,474

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Major Tenants


Tenant Name

24 Hour Subway - Corporate Lease

Money Mart Pawn

East China Bistro

Cricket Wireless

Pare De Sufrir - Community Organization


Major Employers

Employer

San Antonio Police Department - Training Academy

Texas A&M University - San Antonio

Toyota Manufacturing

Swift Worldwide Resources

Marathon Oil


OFFERING SUMMARY

12



Existing Financing

Loan Type Free and Clear


Proposed Financing

First Trust Deed

Loan Amount $1,592,500

Loan Type Proposed New

Interest Rate 5.25%

Amortization 25 Years

Loan to Value 65%

Debt Coverage Ratio 2.00

FINANCING

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Comments

(1) Universal Church: If during the lease term lessee wishes to relocate to a completed and ready to operate church built by lessee on the land soldto lessee by lessor pursuant to the sale and purchase contract with an effective date of 24 November 2010 (which, then tenant shall have a one-timeright to terminate the lease early without penalty at any time after the end of the fourth year by giving landlord written notice of tenant’s intent not lessthan 180 days prior to end of the fourth year.

(2) Money Mart Pawn: Lessee shall have a one-time right to terminate the lease early without penalty at any time during the initial term of the lease orthe extension term (if the extension option provided in this first addendum to lease is exercised by lessee) if lessee intends to relocate directly from theleased premises to a completed and ready to operate building built by lessee on land sold to lessee by lessor (“Lessee’s Replacement Store”). Thisright of early termination shall be exercised by lessee serving lessor with written notice of lessee’s intent not less than 120 days prior to the date onwhich lessee will move into lessee’s replacement store. This lease will then terminate with effect on the day on which lessee opens for business inlessee’s replacement store and lessor and lessee shall thereupon be released from performance of further obligation under this lease.

(3) Cricket Wireless: Early Termination: It is hereby agreed that at any time after 01 November 2014 Lessee shall have the right to give lessor 90 daysadvance written notice of its intention to terminate the lease early. Upon exercising the said early termination right lessee shall reimburse lessorthe full amount or lessor's unamortized costs and expenses in respect of leasing commissions and construction costs to prepare the premises inaccordance with Exhibit C of the lease ("The Early Temination Reimbursement"). Conditional upon lessee having first paid lessor theEarly Termination Reimbursement, the lease shall terminate 90 days after valid service of the said 90 day notice period. If the Early TerminarionReimbursement is not paid within the 90 day notice period, then the lease shall continue in full force and effect until such date as the Early TerminationReimbursement has been fully paid to lessor.

TENANT SUMMARY

Suite Tenant GLA % ofGLA

Lease

Start

LeaseExpire

AnnualRent

Rent/SF

ChangesOn

ChangesTo

ExpenseReimbs.

LeaseType

Options

101 Subway (24 hrs.) 1,450 10.39% 12-15-09 12-31-14 $31,900.00 $22.00 1-1-15 $34,800.00 $9,152.34 NNN 3 - 5yr

103 Laura's DryCleaning

1,065 7.63% 2-1-10 2-1-15 $14,910.00 $14.00 2-1-13 $15,975.00 $6,721.11 NNN 1 - 5yr

105-109

UniversalChurch (1)

4,180 29.95% 6-6-11 6-30-16 $83,600.00 $20.00 7-1-16 $96,140.00 $26,382.00 NNN 1 - 2yr

111 Cricket Wireless(3)

1,283 9.19% 8-31-11 8-31-16 $19,245.00 $15.00 8-31-14 $21,170.00 $8,095.29 NNN

115-117

Money MartPawn (2)

3,220 23.07% 5-17-12 5-31-17 $54,740.00 $17.00 6-1-14 $61,176.00 $20,321.90 NNN 1 - 5yr

117-119

East ChinaBistro (withDrive-Thru)

2,760 19.77% 4-19-11 4-28-16 $46,920.00 $17.00 5-1-13 $55,200.00 $17,414.99 NNN 1 -5yr

Tenant Name: Subway Real Estate Corporation (Corporate Lease)

Lease December 5, 2009

Lease Expiration: December 31, 2014

Gross Leasable Area 1,450

Original Term: Five Years

Option Term: Three Five-Year Options

Pro Rata Share of 10%

Headquartered: Milford, Connecticut

No. of Locations: 36,900 (corporate) | 900 (operator)

Web Site: www.subway.com

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Tenant Name: Pare De Sufrir - Universal Church

(Corporate Guarantee)

Lease Commencement: June 6, 2011

Lease Expiration: June 30, 2016

Gross Leasable Area (GLA): 4,180


Option Term: One Two-Year Option

Pro Rata Share of Project: 30%

Headquartered: Newark, New Jersey

No. of Locations: 158 (In the United States)

Web Site: www.universal.org


Tenant Name: TriPawn, Inc. dba Money Mart Pawn

Lease Commencement: May , 2012

Lease Expiration: May , 2017

Gross Leasable Area (GLA): 3,220


Option Term: One Five-Year Option

Pro Rata Share of Project: 23%

Headquartered: San Antonio, Texas

No. of Locations: 20

Web Site: www.moneymartpawn.com

TENANT & LEASE SUMMARY

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Cricket Wireless(3): 9.19% Laura's Dry Cleaning: 7.63%

Universal Church (1): 29.95%

Subway (24 hrs.): 10.39%

st China Bistro (with Drive-Thru): 19.77%

Money Mart Pawn (2): 23.07%


Comments

(1) Based on current year's property taxes according to Bexar County.

(2) Does not include personnel/payroll and mileage/phone expenses that would not be incurred by future owner ($3,444).


Current Per SF

Real Estate Taxes (1) $48,131 $3.45

Insurance $8,600 $0.62

CAM (2) 36,716 2.63

Management Fee (% of EGI) $9,983 $0.72

TOTAL EXPENSES $103,430 $7.41


Tenants (% OF GLA)

EXPENSES

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Comments

(1) Expense reimbursements include a 15 percent administrative fee allowed to be reimbursed through the leases.

(2) Budgeted recoveries for properties increased to reflect current year's tax liability according to Bexar County.


Current Per SF

Base Rent

Occupied Space $251,315 $18.01

GROSS POTENTIAL RENT $251,315 $18.01

Expense Reimbursements(1) (2) 98,954 7.09

GROSS POTENTIAL INCOME $350,269 $25.09

Vacancy/Collection Allowance (% of GPI) 5% / $17,513 $1.25

EFFECTIVE GROSS INCOME $332,756 $23.84

Total Expenses $103,430 $7.41

NET OPERATING INCOME $229,326 $16.43


Gross Leasable Area (GLA) 13,958 SF

INCOME & EXPENSES

11643 Southeast Loop 410

San Antonio, TX 78221

Year Built 2009

Price $2,450,000

Down Payment 35% $857,500

Gross Leasable Area (GLA) 13,958

Price/SF $175.53

CAP Rate - Current 9.36%


FIRST TRUST DEED

Loan Amount $1,592,500

Loan Type Proposed New

Interest Rate 5.25%

Amortization 25 Years

Loan to Value 65%

Annualized Operating Data

Income Current

Base Rent

Occupied Space $251,315

Gross Potential Rent $251,315

Expense Reimbursements(1) (2) $98,954

Gross Potential Income $350,269

Vacancy/Collection Allowance 5% / $17,513

Effective Gross Income $332,756

Total Expenses $103,430

Net Operating Income $229,326

Debt Service $114,516

Debt Coverage Ratio 2.00

Net Cash Flow After Debt Service 13.39% / $114,810

Principal Reduction $31,665

Total Return 17.08% / $146,474

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Location


Financing


ExpensesReal Estate Taxes (1) $48,131

Insurance $8,600

CAM (2) 36,716

Management Fee (% of EGI) 3% / $9,983

TOTAL EXPENSES $103,430

EXPENSES/SF $7.41


Loan information is time sensitive and subject to

change. Contact your local Marcus & Millichap Capital

Corporation representative.

FINANCIAL OVERVIEW


MARKET OVERVIEW

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MARKET OVERVIEW



EAGLE FORD SHALE

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MARKET OVERVIEW



NEW TEXAS A&M UNIVERSITY CAMPUS

The Future

Ground was broken for the first building of the permanent campus in May 2010. Built to LEED Silver Standards, the first building opened in the Fall 2011. It will house the library, bookstore, student services offices, classrooms and labs, faculty and administrative offices, and food services.

More than 4,000 students in its first full academic year (2011- 2012) and The University Education Master Plan projects an enrollment of 25,000 students by the year 2025.

Economic Impact

State university system studies indicate that Texas A&M University-San Antonio will generate increased revenue and jobs for the local economy.

Graduates of the university will enter the workforce with a higher level of education.

The university will increase the percentage of workforce with higher education in the local economy.

Verano Land Group is developing the land surrounding the university according to “town/gown” style principle, bringing additional retail, housing and dining options to the south side of San Antonio.

San Antonio, the seventh largest city in the U.S. with a population of over 2,000,000, was the only major city with only one public institution of higher education. Texas A&M-San Antonio is now providing higher education opportunities to 32 counties in the surrounding South Texas region.

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MARKET OVERVIEW



MISSION ESPADA

Located near several of the famous Spanish missions in South San Antonio, the Espada North Shopping Center was named after the enchanting Mission Espada located along the San Antonio River.

Founded as San Franciso de Los Tejas in 1690, the oldest of the East Texas missions was moved to the San Antonio River in 1731 and renamed San Francisco de La Espada. The southernmost of the San Antonio chain of missions, Mission Espada appears almost as remote today as it did in the mid-1700’s.

Franciscan missionaries sought to make life within mission communities closely resemble that of Spanish villages and Spanish culture. In order to become Spanish citizens and productive inhabitants, Native Americans learned vocational skills. As plows, farm implements, and gear for horses, oxen, and mules fell into disrepair, blacksmithing skills soon became indispensable. Weaving skills were needed to help clothe the inhabitants. As buildings became more elaborate, mission occupants learned masonry and carpentry skills under the direction of craftsmen contracted by the missionaries.

After secularization, these vocational skills proved beneficial to post-colonial growth of San Antonio. The legacy of these Native American artisans is still evident throughout the city of San Antonio today.

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MARKET OVERVIEW


Market Highlights

Strong population growth

■ San Antonio’s population is projected to increase

more than 10 percent over the next five years.

Robust job creation

■ Job growth in San Antonio is expected to average

3.5 percent per year through 2016.

Low cost of living

■ San Antonio residents enjoy a low cost of living and

no state personal income taxes.

Geography

The San Antonio MSA is located in the southern portion of central Texas, with the Edwards Plateau to the

northwest and the Gulf Coastal Plains to the southeast. The metro covers 412 square miles straddling the

Interstate 35 corridor, one of the fastest growing areas in the state.


San Antonio MSA

SAN ANTONIO

24

MARKET OVERVIEW

Metro

The San Antonio MSA covers eight

counties—Bandera, Atascosa, Kendall, Comal, Bexar,

Guadalupe, Medina and Wilson—and contains more

than 2.2 million inhabitants. Six incorporated cities

and towns have populations greater than 20,000. San

Antonio is the largest, with nearly 1.3 million residents.


Largest Cities: San Antonio MSA

Infrastructure

San Antonio serves as a major gateway between the

United States and Mexico. Situated only 145 miles from

Laredo, San Antonio is an easy drive along Interstate 35

from the border. The area is further enhanced by a

transportation network that provides a myriad of

shipping options to domestic and international

businesses.

Also bolstering San Antonio’s trade is the air cargo

component of the international airport, which consists

of two Foreign Trade Zones. Air Cargo East features

104,000 square feet of warehouse space and 1.1 million

square feet of aircraft apron. Air Cargo West provides

65,300 square feet of warehouse space and 248,140

square feet of aircraft apron to attract companies.

The Port of San Antonio is a 1,900-acre aerospace and

industrial complex, as well as an international logistics

platform, located at the site of the former Kelly Air

Force Base. The entire site is covered by a General

Purpose Foreign Trade Zone. Rail service to the port

and throughout the region is provided by BNSF and

Union Pacific.


Airports

■ San Antonio International Airport■ Kelly Field

Major roadways

■ Interstates 10, 35, 37 and 410■ U.S. Highways 281 and 90■ State Highway 151 and Loop 1604

Rail

■ Freight - BNSF, Union Pacific■ Passenger - Amtrak

Port■ Port of San Antonio

The San Antonio MSA is:

■ 75 miles from Austin■ 145 miles from Laredo■ 190 miles from Houston■ 250 miles from Dallas

2011 EstimateSources: Marcus & Millichap Research Services, AGS

SAN ANTONIO

San Antonio 1,332,000

New Braunfels 46,000

Schertz 30,500

Seguin 23,500

Canyon Lake 22,000

Timberwood Park 21,600

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MARKET OVERVIEW


Economy

San Antonio’s economy is anchored by three

industries: healthcare, tourism and national defense.

Despite the importance of these sectors, San Antonio

continues to make great strides in diversifying its

economic base, resulting in one of the nation's most

abbreviated down cycles during the last recession. Oil

and gas extraction from Eagle Ford Shale will likely be

a boon to the South West Texas economy in the years

ahead. The energy sector is becoming more prominent

with expansions at NuStar Energy and Tesoro.

San Antonio is the clear leader in Texas when it comes

to benefiting from military spending, as Fort Sam

Houston, Lackland Air Force Base, Randolph Air

Force Base, Camp Bullis and others are located in the

MSA.

Education and healthcare play vital roles in the local

economy. An important component of the healthcare

industry is South Texas Medical Center, a

conglomerate of hospitals, clinics, and research and

higher-education facilities. The center employs

thousands of workers and is directly responsible for the

area’s large biomedical industry.

As the most-visited city in Texas, San Antonio's travel

and tourism industry remains a key economic utility.

Destinations such as the Alamo and River Walk make

the city highly identifiable and popular. The leisure

and hospitality segment will be one of the top

employment generators over the next five years.


SAN ANTONIO

26

MARKET OVERVIEW


Labor

The San Antonio MSA attracts businesses seeking to take advantage of lower costs of living and doing business,

which will continue to drive strong population gains over the long term. The expanded infrastructure needed to

meet this growth will restore employment in the construction industry; the sector will expand at an annual average

rate of 6 percent through 2016.

The largest job sector in the local economy is government, supported by the military. Overall, more than 159,000

people, or 19 percent of the labor force, is employed in this segment. The second largest industry, trade,

transportation and utilities, accounts for 17 percent of all jobs in the metro.

Education and health services companies employ the third largest share of San Antonio workers, with its standing

heavily influenced by the South Texas Medical Center -- the largest medical research and care provider in southern

Texas. The education and health services sector is forecast to post 3.9 percent annual job creation over the next

five years.

The leisure and hospitality sector plays a crucial role, employing more than 100,000 residents. Tourism in San

Antonio is related not only to the U.S. economy but also to the Mexican economy. San Antonio is the only non-

border town in the United States to have such a correlation. Substantial employment increases of 5 percent

annually are projected for the industry through 2016.


SAN ANTONIO

27

MARKET OVERVIEW


Major Employers

Employers

A strong, diverse private sector fosters the San Antonio

economy. Major corporate headquarters in San Antonio

include five Fortune 500 companies. The largest of

these, the United Service Automobile Association, or

USAA, leads the financial services segment that also

includes Wells Fargo and JPMorgan Chase.

The MSA is home to one of the largest military

concentrations in the nation. The defense industry in

San Antonio employs over 89,000 and provides a $5.25

billion impact to the city's economy, helping to make

government the largest employment sector.

San Antonio is receiving greater interest from

companies that manufacture items too large to

affordably ship from overseas. As a result, the local

manufacturing base is forecast to grow by 1.1 through

2016. Helping to drive these gains is Toyota Motor

Manufacturing Texas, which began building Tundra

trucks in 2006 and now hires thousands of workers.

The healthcare industry rounds out the top employers

in San Antonio. The leader in both total employment

and healthcare employment is South Texas Medical

Center, which provides several thousand jobs. Other

large healthcare employers include Baptist Health

System and Methodist Healthcare System. KCI, a

company that provides wound care solutions is

expanding locally and Medtronic is opening a facility in

San Antonio.


South Texas Medical Center

USAA

Wells Fargo

Baptist Health System

Southwest Research Institute

Methodist Healthcare System

JPMorgan Chase

Christus Santa Rosa Healthcare

Toyota Motor Manufacturing Texas

Sea World San Antonio

SAN ANTONIO

28

MARKET OVERVIEW


Demographics

The San Antonio MSA’s population at 2.2 million will

grow at a rate triple the U.S. average over the next five

years, expanding 2.7 percent annually. The city of San

Antonio will register the largest absolute increase, while

areas such as Schertz, located along the Interstate

systems, will lead in percentage growth.

Area residents are relatively young, with 31 percent

under the age of 20, compared with just 27 percent for

the nation. In addition, 11 percent of the population

are in their retirement years, ages 65 and older, as

opposed to 13 percent for the U.S. The low median age

of 34 years is also due in large part to the area's strong

military presence, as well as its sizable student

population; the region houses 17 institutions of higher

learning.

The median household income in the San Antonio

MSA, at $48,800 per year, falls below the U.S. median

of $54,200 annually. Although this trend is expected to

continue over the next few years, income levels should

grow faster than home values, bolstering disposable

incomes. This, in turn, will help boost retail sales.

The median home price of $150,600, which is well

below the national median of $163,700, has afforded

nearly 60 percent of households to own their homes.


SAN ANTONIO


DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

1990 Population 4,428 43,566 133,829

2000 Population 4,591 44,836 136,605

2010 Population 5,111 46,341 144,950

2011 Population 5,204 47,570 148,790

2016 Population 5,686 52,866 165,455

1990 Households 1,263 12,617 39,505

2000 Households 1,363 13,409 41,735

2010 Households 1,598 14,315 45,753

2011 Households 1,640 14,809 47,352

2016 Households 1,841 16,882 54,125

2011 Average Household Size 3.11 3.18 3.10

2011 Daytime Population 1,149 15,810 43,202

1990 Median Housing Value $39,945 $39,075 $36,445

2000 Median Housing Value $47,475 $45,827 $42,005

2000 Owner Occupied Housing Units 72.01% 65.11% 60.18%

2000 Renter Occupied Housing Units 22.55% 29.57% 33.17%

2000 Vacant 5.45% 5.31% 6.65%



2011 Vacant 9.35% 8.75% 8.65%



2016 Vacant 9.71% 8.89% 8.81%

$ 0 - $14,999 12.4% 18.5% 20.9%

$ 15,000 - $24,999 15.4% 15.0% 18.4%

$ 25,000 - $34,999 16.3% 17.5% 16.2%

$ 35,000 - $49,999 21.7% 20.4% 19.4%

$ 50,000 - $74,999 19.9% 18.0% 15.6%

$ 75,000 - $99,999 8.4% 6.4% 5.7%

$100,000 - $124,999 4.3% 2.5% 2.4%

$125,000 - $149,999 1.4% 1.0% 0.7%

$150,000 - $199,999 0.2% 0.4% 0.4%

$200,000 - $249,999 0.0% 0.0% 0.0%

$250,000 + 0.0% 0.2% 0.2%

2011 Median Household Income $38,783 $34,339 $31,432

2011 Per Capita Income $13,136 $12,100 $11,562

2011 Average Household Income $40,704 $37,903 $35,124

Demographic data © 2010 by Experian/Applied Geographic Solutions.

30




DEMOGRAPHIC REPORT

Geography: 5 Miles

Population

In 2011, the population in your selected geography was 148,790 . The population has changed by 8.92% since 2000. It is estimated

that the population in your area will be 165,455 five years from now, which represents a change of 11.20% from the current year.

The current population is 49.1% male and 50.9% female. The median age of the population in your area is 31.7 , compare this to the

U.S. average which is 36.9. The population density in your area is 1,896.04 people per square mile.

Households

There are currently 47,352 households in your selected geography. The number of households has changed by 13.46% since 2000.

It is estimated that the number of households in your area will be 54,125 five years from now, which represents a change of 14.31%

from the current year. The average household size in your area is 3.10 persons.

Income

In 2011, the median household income for your selected geography is $31,432 , compare this to the U.S. average which is currently

$53,620. The median household income for your area has changed by 15.30% since 2000. It is estimated that the median household

income in your area will be $32,386 five years from now, which represents a change of 3.03% from the current year.

The current year per capita income in your area is $11,562 , compare this to the U.S. average, which is $28,713. The current year

average household income in your area is $35,124 , compare this to the U.S. average which is $73,458.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 74.43% White, 1.99% African American, 1.04% Native American

and 0.34% Asian/Pacific Islander. Compare these to U.S. averages which are: 72.40% White, 12.60% African American, 0.95%

Native American and 4.93% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 90.03% of the current year

population in your selected area. Compare this to the U.S. average of 16.90%.

Housing

The median housing value in your area was $42,005 in 2000, compare this to the U.S. average of $110,796 for the same year. In

2000, there were 26,905 owner occupied housing units in your area and there were 14,830 renter occupied housing units in your

area. The median rent at the time was $365 .

Employment

In 2011, there are 43,202 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 43.0% of employees are employed in white-collar occupations in this geography, and 57.0% are employed in blue-collar

occupations. In 2011, unemployment in this area is 8.88% . In 2000, the median time traveled to work was 22.6 minutes.

Demographic data © 2010 by Experian/Applied Geographic Solutions.

31




SUMMARY REPORT

Two-way, average daily traffic volumes.

32




TRAFFIC COUNTS

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 anintermediary. 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.

Buyer, Seller, Landlord or Tenant Date

33

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.

BROKERAGE SERVICES

SAN ANTONIO, TX

OFFERING MEMORANDUM


Offices Nationwide

www.MarcusMillichap.com

Exclusively Listed By:

Bethany BabcockAssociate

Associate Member, National Retail GroupSan Antonio Office

License: TX 0598255Tel: (210)343-7800Fax: (210)343-7810

[email protected]

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