for sale | single family attached galaxy...

FOR SALE | SINGLE FAMILY ATTACHED

GALAXY TOWNHOMES Burleson, TX 76028

Todd Franks, CCIM Managing Director

972.916.9397 [email protected]

Dennis Fernandez Advisor


Nicholas Brown Advisor


Executive Summary

2

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstance, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this brochure, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of those materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

DISCLAIMER GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX

All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

TABLE OF CONTENTS Property Overview 5

Architectural Plans

7-17

Financial Overview

19-24

Location Overview

26-29

News Articles

31-36

Demographics

38-44

About SVN®

46-47

3

4



1 PROPERTY OVERVIEW


5

Executive Summary

SECTION 1 | PROPERTY OVERVIEW GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX


PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

(Conceptual Drawing)

The subject consists of +/- 9.03 acres zoned for townhomes. The current owner started the 1st Building (8-units) but needs to sell due to a family emergency that will take him out of the country for the remainder of the year. This leaves 93 lots plus two more (currently slated for a clubhouse and pool but would accommodate two additional townhomes). The property is in an excellent location surrounded by newly constructed single family and multifamily homes, in the West Bend area (593 single family homes). The neighboring 10 acre site was purchased in 2011 and the developer constructed a 240-unit Class-A multifamily property. The property is served by Burleson ISD and just about 400 feet down the street from Frazier Elementary School. The median household income within a 1 mile radius is $79,537. The site has excellent visibility being near the Northeast corner of John Jones Dr. (FM 731) and Summercrest Blvd (both 4-lane roads) with 459 ft of frontage on Summercrest. The Project is fully entitled and “shovel ready” with permits pulled and paid for by the seller for the first two buildings. No further approvals are necessary to finish-out the construction. The subject site offers immediate access to some great community amenities including a large community center called “The Brick” at 550 NW Summercrest. The $18 million, 65,000SF facility sits on 34 acres and offers: Indoor Water Park, Rock Climbing, Aerobics Center, Fitness Area, Gymnasium, Meeting Rooms, Outdoor Pool, and a Walking Track. There are several sports fields located around the facility. Major retail centers are approximately 3/4 mile north on John Jones Drive anchored by a Signature Kroger. A new Wal-Mart Neighborhood Market opened in 2016 1-mile south on NW John Jones Drive.

• Approved, platted and permitted for 101 townhomes with 4 floor plans. One building (8-units) currently under construction.

• All utilities and AT&T fiber optic lines to 103 shovel ready lots (clubhouse could be converted to two additional townhome lots). Plans approved by the City of Burleson and Seller has paid permit fees on first two buildings.

• Units range in size from 1,532 SF to 1,710 SF plus garages, patios and balconies • Ideal for individual sale as townhome units or for lease

PROPERTY SUMMARY

SALE PRICE: Market

PRICE/LOT Market

LOT SIZE: +/- 9.03

UNDEVELOPED LOTS: 93 + 2 (Clubhouse/Pool)

ZONING: Townhomes

MARKET: Fort Worth MSA

SUBMARKET: Burleson

CROSS STREETS: NW John Jones Drive (731) & NW Summercrest Boulevard, Burleson, TX

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FOR SALE | MULTI-FAMILY


2 ARCHITECTURAL PLANS


7 7

Site Plan


SECTION 2 | ARCHITECTURAL PLANS GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX

8 8

Layout 1



9 9

Layout 2



10 10

Layout 3



11 11

Layout 4



12 12

Front & Rear Elevation – 3 Units



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14 14




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17 17

About The Builder



This is a list of projects that have been completed by Trend Resources, LLC:

• City of Fort Worth, Village Creek Reclamation Facility – Fort Worth, TX $40 Million • Weatherford College PC Project – Weatherford, TX $5 Million • Benbrook Water Meter Project - Benbrook, TX $2 Million • Heritage Quarters – Baylor University Student Housing – Waco, TX $20 Million • Hillcrest Square Retail Center – Dallas, TX $20 Million • Cooper Aerobics Center – McKinney, TX $20 Million • The Providence – Assisted Living Facility – Dallas, TX $10 Million • Baymont Inn & Suites – Davenport, IA $12 Million • Baymont Inn & Suites – Arlington, TX $12 Million • Tarrant County – Charles Griffin Sub Courthouse – Fort Worth, TX $4.2 Million • Tarrant County – Historic Restoration of 4th Floor of 1895 County Courthouse – Fort Worth, TX $1 Million • Tarrant County – Renovation Cold Springs Jail Facility – Fort Worth, TX $500 Thousand • United States Postal Service – City View Station – Bryant Irvin Road – Fort Worth, TX $10 Million • United States Postal Service – Rosemeade Station – Josey Lane – Carrollton, TX $10 Million • United States Postal Service – Grapevine Station – William D. Tate Avenue – Grapevine, TX $10 Million • The University of Texas at Dallas – Callier Center – Inwood Road – Dallas, TX $6 Million • The University of Texas at Dallas – Student Union Building – Dallas, TX $45 Million • Dallas Housing Authority – DHA Learning Resource Center – Marsh Lane – Dallas, TX $21 Million • Carter Blood care – Hwy. 121 – Bedford, TX $22 Million • Veterans Administration Hospital – Rosedale Street – Fort Worth, TX $38 Million • Funfest – Addison, TX - $4.1 Million • The Goldman Building – Office Complex – Hulen Street – Fort Worth, TX $1.5 Million • Romano’s Macaroni Grill – Plaza Park – Cedar Hill, TX $1 Million • Ann Taylor Loft – Hulen Mall – Fort Worth, TX $500 Thousand • Brighton Collectibles – Northeast Mall – Hurst, TX $500 Thousand • Office Max – Shops at Northeast Mall – Hurst, TX $3 Million • Air Co. – Central Park Drive – Hurst, TX $2 Million

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3 FINANCIAL OVERVIEW




19 19

Unit Mix

SECTION 3 | FINANCIAL OVERVIEW GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX


20 20

Townhome Analysis



21 21

Cost Estimate



22 22 All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.


Cost Estimate Continued

23 23

Cost Estimate #2





Cost Estimate #2 Continued

25

4 LOCATION OVERVIEW




26 26

Regional Maps

SECTION 4 | LOCATION OVERVIEW GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX


27 27

Local Map



Location Highlights

Rising home prices – The median home value in

Burleson increased 8.4% from April 2016 – April 2017 and they are projected to

rise another 3.8% over the coming year according to

Zillow

Median household income of $79,771 within a 1-mile radius of the property which is 53%

higher than the national average and it is projected

to increase 9.2% by the year 2021

Tarrant County’s population increased by more than

36,000 people from 2015-2016 which is the 6th largest population increase in the U.S. according to the most recent estimates from the

U.S. Census Bureau

Approximately 13-miles from the Fort Worth CBD

which employs over 48,000 people

DFW added more than 120,000 jobs from February 2016 – February 2017 while the unemployment rate fell

to 3.8%, outperforming both state and national

unemployment rates

Well-located just over 2-miles west of I-35W and 4-miles east of the Chisholm

Trail Parkway, providing easy commuter access to the

entire DFW Metroplex

High traffic count of 16,400 cars per day that drive by the property on NW John

Jones Drive, making it very visible

Desirable submarket with an average occupancy of 96% and effective rental

rates which have consistently increased over

the past 12-months

Located 28-miles from DFW International Airport which is

the world’s 3rd largest airport in operations and

10th largest in total passengers

Abundant entertainment options including the Fort

Worth Zoo, Botanic Gardens, Sundance Square, the Fort Worth Stockyards, Texas

Motor Speedway, and many more

Within 1-mile of major retailers including 7-Eleven,

Bank of America, Chase Bank, Kroger, Wells Fargo, Walgreens, and Walmart

Neighborhood Market

Close proximity to schools – Located within walking

distance of Frazier Elementary School and

within 1 ½ miles of Hughes Middle School and Burleson

High School in the highly rated Burleson ISD

28 All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.


29 29

Tarrant County Economic Drivers



ENTERTAINMENT DRIVERS

- AT&T Stadium (Dallas Cowboys) - Fort Worth Botanic Gardens - Fort Worth Stockyards - Fort Worth Zoo - Globe Life Park (Texas Rangers) - Six Flags Over Texas - Six Flags Hurricane Harbor - Sundance Square - Texas Motor Speedway - World Class Art Museums Including the Amon Carter Museum, Fort Worth Museum of

Science and History, Kimbell Art Museum, Modern Art Museum, and more

MAJOR EMPLOYERS

- AMR/American Airlines – 25,000 employees - Lockheed Martin – 13,690 employees - Texas Health Resources – 12,000 employees - Fort Worth ISD – 12,000 employees - NAS – Fort Worth – JRB – 10,000 employees - Arlington ISD – 8,500 employees - University of Texas at Arlington – 7,311 employees - JPS Health Network – 6,500 employees - City of Fort Worth – 6,161 employees - Cook Children’s Health Care System – 6,042 employees - Tarrant County College – 5,999 employees - Alcon Laboratories – 5,393 employees - Bell Helicopter Textron – 4,953 employees - BNSF Railway – 4,500 employees - Tarrant County Government – 4,310 employees - General Motors – 4,125 employees - GM Financial – 3,820 employees

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5 NEWS ARTICLES





D-FW home prices top national median for first time in Realtors’ survey May 15, 2017 By: Steve Brown, Real Estate Editor

The Dallas-Fort Worth area had one of the biggest home price increases in the country in the first quarter. D-FW median home sale prices were 12.6 percent higher than in 2016, according to the National Association of Realtors quarterly home price survey. The Washington-based trade group looks at 178 U.S. metropolitan areas for its quarterly comparison of housing costs. Nationwide, median home prices were up 6.9 percent from a year ago to $232,100. The D-FW area for the first time surpassed the rest of the nation with a $236,500 median home sales price. "We've seen it coming — I think higher prices are here to stay," said Ted Wilson, with Dallas-based housing analyst Residential Strategies Inc. "There are more and more people chasing fewer and fewer lower-priced properties.“ Wilson said that D-FW median home prices have risen by almost $100,000 in the last six years because of a shortage of properties and huge population gains in the area. "We are getting big-city prices," he said. Texas economist Mark Dotzour said he's been "seeing this coming since 2009."

SECTION 5 | NEWS ARTICLES GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX


"The question now is just how high homes in Dallas can go before people can no longer afford the payment and the taxes," Dotzour said. The Realtors association said that first-quarter home prices were higher in 85 percent of the U.S. markets it tracks. "Several metro areas with the healthiest job gains in recent years continue to see a large upswing in buyer demand but lack the commensurate ramp-up in new home construction," Realtors chief economist Lawrence Yun said in the report. "This is why many of these areas — in particular several parts of the South and West — are seeing unhealthy price appreciation that far exceeds incomes.“ The D-FW area was among the more than two dozen U.S. markets that saw year-over-year double-digit price gains. To show how tight the market is in North Texas, currently there are only three properties listed for sale at the median price in Realtor.com. And two of those are already under contract. Nationwide, the largest first-quarter annual price increases were in Cumberland, W.Va. (21.4 percent), Vero Beach, Fla. (18.2 percent) and Ocala, Fla. (17.2 percent). About two dozen markets had declines in prices, with the worst decreases in Elmira, N.Y. (-14.5 percent) and Binghamton, N.Y. (-14 percent). Among the major Texas cities, D-FW had the greatest gains. Prices were up 6.9 percent in Houston, 6.2 percent in Austin and 3.6 percent in San Antonio. As long as job growth and migration to North Texas remains strong, housing analysts don't foresee a moderation in the rate of home price appreciation in the D-FW area. "High demand is poised to continue heading into the summer as long as job gains continue," Yun said. "However, many metro areas need to see a significant rise in new and existing inventory to meet this demand and cool down price growth.”



Housing market in DFW keeping pace with last year’s record results May 15, 2017 By: Candace Carlisle, Senior Reporter


With the first quarter of the year in the books for existing single-family home sales in Dallas-Fort Worth, one economist says this year home sales are keeping pace with last year's record results — positioning 2017 to be a big year for Realtors. "We are teetering right there at the same pace we had last year, which was a record year in real estate," Jim Gaines, an economist with The Real Estate Center at Texas A&M University, told the Dallas Business Journal.

http://www.bizjournals.com/dallas/search/results?q=Jim Gaines


"If we are flat to a record year, it's still a record level," Gaines added. "It will probably be close to a record year and if it beats last year, it will be just barely a new record. Either way, it will still be a big year.“ Gaines said he expects home prices to continue to rise this year as North Texas has a limited inventory of homes on the market. There is a 2.2-month supply of single-family homes on the market in the region, he said, which is well below the equilibrium of a six-month supply. "Without enough inventory relative to demand, it will force prices to continue to rise pretty much across the board in all price brackets," Gaines said. The median home price of an existing single-family home in Dallas-Fort Worth rose nearly 12.6 percent year-over-year to $236,500, according to data from the National Association of Realtors, which was released Monday. "Home prices in Dallas will continue to go up, even though the stats vary based on some pockets of the market," he added. Nationally, the median home price for an existing single-family home was up 6.9 percent year-over-year to $232,100 in the first quarter of 2017. This was the fastest rate of growth since the second quarter of 2015, which was a jump of 8.2 percent year-over-year. National Association of Realtors Chief Economist Lawrence Yun said the supply shortages ignited faster price appreciation throughout the United States in the first quarter of 2017. "Several metro areas with the healthiest job gains in recent years continue to see a large upswing in buyer demand but lack the commensurate ramp up in new home construction," Yun said, in a statement. "This is why many of these areas — in particular several parts of the South and West — are seeing unhealthy price appreciation that far exceeds incomes," he added. North Texas, which has historically been an affordable housing market in the United States, has gotten the attention of housing analysts and economists that worry the region's affordability has been impacted.


http://companies.bizjournals.com/profile/nar/150634/?mkt=dallas

http://www.bizjournals.com/dallas/search/results?q=Lawrence Yun

http://www.bizjournals.com/dallas/news/2017/04/28/its-a-sellers-market-dallas-fort-worth-homeowners.html


D-FW new home starts jump to highest level in seven years April 10, 2017 By: Steve Brown, Real Estate Editor

North Texas builders scrambled to meet buyer demand in the first three months of 2107, starting the most houses in a single quarter since 2007. During the 12 months ending with March, Dallas-Fort Worth homebuilders started more than 30,500 houses - the strongest building performance since the Great Recession. "This represents the highest level of annual construction activity since fourth quarter 2007," said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. "Reports from builders indicate that Spring 2017 has produced another solid period of home sales -- even with higher home prices and mortgage rates.“ First quarter home starts were up 16 percent from the same period in 2016. And builders sold an estimated 7,519 homes so far this year - about a 15 percent gain from year-ago totals. "Most of the production builders are entering the summer months with solid backlogs of orders," Wilsons said. "This is especially prevalent for those builders that focus on the more affordable price points. "The homebuilding industry has become creative in its efforts to produce affordable units in an environment where there is massive land, lot and construction labor inflation.“



With builders trying to shift their production to more affordable houses, the median price of new homes being built in D-FW actually declined slightly in the first quarter. "In the fourth quarter it was $350,000 and now its down to $343,000," Wilson said. That's still about $100,000 more than what it costs to purchase a mid-priced preowned home in North Texas. Wilson said that starts and sales of houses priced at $400,000 and up are moderating. "The builders are migrating to the lower price points," he said. "For the new home builders it's very difficult for them to deliver a new home much under $200,000.“ High home costs have pushed new housing out of the reach of most D-FW residents. "The median household income in D-FW is around $72,000," Wilson said. "Only about 18 percent of the new homes being built are affordable to that household.“ Migration of higher paying jobs and workers to North Texas in the last few years has kept builders rushing to provide houses. "With all the immigration of jobs over the last six years, the number of households that make over $100,000 has increased by 192,000 in D-FW," Wilson said. "That's singlehandedly holding up the new home market. "If this massive job growth pattern starts to subside, watch out."


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6 DEMOGRAPHICS




38 38

Dominant Tapestry Map

SECTION 6 | DEMOGRAPHICS GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX


Tapestry LifeMode L1: Affluent Estates

L2: Upscale Avenues

L3: Uptown Individuals

L4: Family Landscapes

L5: GenXurban

L6: Cozy Country

**L7: Ethnic Enclaves

L8: Middle Ground

L9: Senior Styles

L10: Rustic Outposts

L11: Midtown Singles

L12: Hometown

L13: Next Wave

L14: Scholars and Patriots

L15: Unclassified

** Subject Property is located in an area characterized by LifeMode L7: Ethnic Enclaves in the Segment 7A/Up and Coming Families. See following pages for the socioeconomic and demographic composition of this segment.

Source: ESRI, 2017

42 42

Traffic Count Map



43 43

Traffic Count Map – Close Up



44 44

Traffic Count Profile



45

7 ABOUT SVN®




46 46

Todd Franks, CCIM Managing Director SVN | Investment Sales Group


Todd’s career in commercial real estate brokerage began in 2000 by specializing in the representation of multi-family Sellers. Over the past 17 years, Todd has facilitated the development, redevelopment, disposition, acquisition and repositioning of hundreds of A, B, and C – Class multi-family and commercial assets (totaling more than $850,000,000), in the Dallas/Fort Worth market as well as secondary and tertiary markets across North Texas and Oklahoma. When Todd left his previous brokerage firm in March 2014, he was acknowledged as the all-time top producer. Shortly after, Todd opened his own SVN office in Dallas, TX and is now recognized as one of the top five advisors in the world (SVN 2015). His list of clients includes: Trammel Crow Residential Development, Highland Capital, CW Capital, LNR Partners, C-III, Midland Loan Services, Orix Capital Markets, Imperial Bank, City National Bank, La Jolla Bank as well as numerous lenders, servicers, institutions, family offices, partnerships and individual owners. Todd is regularly interviewed and featured in local and national commercial real estate publications such as “The New York Times,” “The Dallas Morning News,” “Dallas Business Journal,” “Globe Street” and “Bisnow.” He has also served as an expert witness in trials that require multi-family and financing expertise. In 2011, Todd became the youngest founder in the acquisition of “Texas Republic Bank” which has matured from $22,000,000 to now over $160,000,000 in assets. Related volunteer work included: Former Chairman of the Board for the Vickery Meadows Economic Development Division, former Board of Directors for the Vickery Meadows Public Improvement District and former Board of the Multi-family Property Standards Committee.

License #: 479935 Phone: 972.916.9397 Fax: 214.206.9616 E-mail: [email protected] Address: 6320 LBJ Frwy. Suite 228 Dallas, TX 75240

SECTION 7 | ABOUT SVN® GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX


SVN | ISG Overview

• Our team has over 80 years of

combined experience in real

estate in Texas

• Database of 22,000 Owners and

6,000+ Local Clients

200 OFFICES

$2.35B MULTI-FAMILY SALES IN 2016

500+ MARKETS

Specialty Areas

Local Expertise

• Multifamily/Apartments

• Single Family Rental Portfolios (SFRs)

• Senior Housing

• Multifamily Land

• Joint Venture Raise

• Multifamily

• Assisted Living

• Development

• Multifamily

• Assisted Living

6,000+ CLIENTS

SECTION 7 | ABOUT SVN® GALAXY TOWNHOMES | 101 LOTS | BURLESON, TX

48 All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

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