wichita square - ciadvisors · • 100% national credit rent roll • tenants include: t.j. maxx,...
TRANSCRIPT
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ACTUAL SITE
In Association with Texas Designated Broker : Paul Kennon Blackburn | Blackburn Propert ies | TX L icense # 376821
property tour
COMMERCIAL INVESTMENT ADVISORS , INC.CIA BROKERAGE COMPANY
Represented by:J E S S ICA Z . G I BSON
[email protected]+ 1 972 630 6000 x 101 – Main
+ 1 602 770 7145 – Cel l4514 Cole Ave # 300Dal las, Texas 75205
Represented by:JUST IN ZAHN
just [email protected]+ 1 480 214 5088 x 102 – Main
+ 1 402 730 6021 – Cel l9383 E Bahia Dr # 130
Scottsdale, Arizona 85260
WICHITA SQUARE3 6 1 0 - 3 6 2 0 C A L L F I E L D R O A D | W I C H I T A F A L L S , T E X A S 7 6 3 0 8
OFFERING MEMORANDUM
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WICHITA SQUARE
VIEW PROPERTY TOUR
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INVESTMENT O V E R V I E W
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
WICHITA SQUAREWICHITA FALLS, TEXAS
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
Commercial Investment Advisors, Inc. is pleased to offer for sale to qualified investors the retail asset located at 3610 Call Field Road, WichitaFalls, Texas. This offering is a Big-Box, National Credit, Multi-Tenant offering with a Chick-Fil-A on a long-term Ground lease.
RETAIL/SHOPPING: Nearby retailers include Walmart, The Home Depot, Sam’s Club, Kohl’s, Burlington, Lowe’s Home Improvement, Best Buy, Academy Outdoors + Sports, Bed Bath & Beyond, PetSmart, Michaels, Office Depot, Five Below, Ulta Beauty, Dillard’s, JCPenney, At Home, Carmike Cinemas, Target, Hobby Lobby, etc.
HIGHER EDUCATION: Less than 1 mile from Midwestern State University (a liberal arts college with over 6,060 students)HEALTH CARE: 4 miles from United Regional Hospital (a general medical & surgical facility with 588 beds)
INVESTMENT HIGHLIGHTS• 100% National Credit Rent Roll• Tenants Include: T.J. Maxx, Ross Dress for Less, Shoe Carnival & Chick-Fil-A• 71,658 SF Including Chick-Fil-A (Outparcel) on a Long-Term Ground Lease• A+ Real Estate & Visibility within the Trade Area – Situated on the Hard
Corner where Traffic Counts Exceed 32,800 CPD!• 100% Historically Occupied Since Inception of Center• Wichita Falls, Texas has Steady Retail Sales Growth at 2.5% Annually
W I C H I T A S Q U A R E
Q U A I L C R E E K C R O S S I N GBED BATH & BEYOND, MICHAELS, ULTA, PETSMART,
ACADEMY SPORTS + OUTDOORS, OFFICE DEPOT, ETC.
S I K E S C E N T E R M A L LDILLARD’S, JCPENNEY, BOOT BARN,
MAURICE’S, ON THE BORDER, BUFFALO WILD WINGS, SIKES 10 THEATRES, ETC.
NAMELOCATION
MAJOR CROSS STREETSPURCHASE PRICEACTUAL CAP RATECASH ON CASH RETURNACTUAL OCCUPANCYRENTABLE SQ FT
PRICE PER SFAVERAGE RENT PER SFYEAR BUILT
LOT SIZE
ROOF
WICHITA SQUAREShopping Center: 3610-3620 Call Field Road
Chick-Fil-A: 3704 Call Field RdWichita Falls, Texas 76308Call Field Rd & Kemp Blvd
$8,650,0007.80%9.79%100%
71,658 SFShopping Center: 67,431
Chick-Fil-A: 4,227$120.71
$9.60Shopping Center: 1984
Chick-Fil-A: 2012±9.13 Acres
Shopping Center: ±8.52 AcresChick-Fil-A: ±0.61 Acre
Rubber MembraneRoss Dress for Less: Replaced in 2014
TJ Maxx: Replaced in 2014Shoe Carnival: Original Roof (2004)
(Including Ground Lease)
MA P LEWOOD A VE
KE
MP
BLV
D
20
,58
0 C
PD
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WICHITA SQUAREWICHITA FALLS, TEXAS
SUMMARYLIST PRICELIST CAP RATEDOWN PAYMENT (34%)CASH ON CASHACTUAL OCCUPANCY
$8,650,0007.80%
$2,937,8439.79%100%
71,658$120.71
ANNUALIZED OPERATING DATAINCOME ACTUAL
2019 Annual Base Rent $688,063
NNN Expense Reimbursement $254,599
Gross Annual Income $942,662
EXPENSES
2019 NNN Expenses ($254,599)
Property Mgmt/Reserves (2% Base Rent) ($13,761)
Total Expenses ($268,360)
NET OPERATING INCOME $674,302
Less Annual Debt Service ($386,761)
Cash on Cash Return (9.79%) $287,541
FINANCING SUMMARYThis is an Assumable Loan or Buyer can obtain new financing at Close of Escrow.
2019 ANNUALIZED OPERATING EXPENSESProperty Taxes $168,124
Insurance $36,325
Repairs & Maintenance $6,000
HVAC Repairs $2,000
Lawn Maintenance $23,500
Parking Lot Repairs & Maintenance $2,000
Snow Removal $650
Utilities $16,000
TOTAL OPERATING EXPENSES $254,599
Original Principal AmountCurrent Loan Balance (as of 08/2019)Maturity DateInterest RateAmortizationAnnual Debt Service Payment
$6,200,000$5,712,157
10/01/20244.72%
30 Years$386,761.44
* Lender does escrow monthly for property taxes.
RENTABLE SQ FT (Including Ground Lease)PRICE PER GROSS SQ FT (Including Ground Lease)
FINANCIAL A N A L Y S I S
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
As of 08/08/19
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WICHITA SQUAREWICHITA FALLS, TEXAS
# TENANT SQ. FT. # OFGLA
2019 ANNUAL RENT & RENTAL INCREASES
RENT PSF
LEASE STARTS
LEASE ENDS
OPTIONS
3610 T.J. Maxx(Corporate)
27,489 38.36% $178,679
09/01/25 to 09/30/29: $185,551 ($6.75 PSF)
$6.50NNN
08/08/2010 09/30/2029 1st: 10/01/29 to 09/30/34: $206,168 ($7.50 PSF)2nd: 10/01/34 to 09/30/39: $219,912 ($8.00 PSF)3rd: 10/01/39 to 09/30/44: $233,657 ($8.50 PSF)
3614 Ross Dress for Less(Corporate)
30,187 42.13% $347,151 $11.50NNN
12/01/2004 01/31/2025 3rd: 02/01/25 to 01/31/30 $362,2444th: 02/01/30 to 01/31/35 $377,338
3620 Shoe Carnival(Corporate)
9,755 13.61% $112,183 $11.50NNN
12/01/2004 03/31/2024 04/01/19: $121,938*Years 11-15: $141,448Years 16-20: $151,203
3704 Chick-Fil-A**(Corporate)
4,227 5.90% $50,050
06/01/23 to 05/31/28: $55,055
06/01/28 to 05/31/33: $60,561
$16.92NNN
05/19/2013 05/31/2033 1st: 06/01/33 to 05/31/38 $66,6162nd: 06/01/38 to 05/31/43 $73,2783rd: 06/01/43 to 05/31/48 $80,6064th: 06/01/48 to 05/31/53 $88,666
GRAND TOTAL 71,658 100% $688,063 $9.60 (AVG)
** Chick-Fil-A is a Ground lease – conveying land only.
RENT R O L L
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
As of 08/08/19
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WICHITA SQUAREWICHITA FALLS, TEXASSURVEY
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
LOT SIZEShopping Center ±8.52 Acres
Chick-Fil-A ±0.61 Acre
TOTAL LOT SIZE ±9.13 Acres
GROSS LEASABLE AREAShopping Center ±67,431 SF
Chick-Fil-A ±4,227 SF
TOTAL GLA 71,658 SF
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WICHITA SQUAREWICHITA FALLS, TEXASTENANT O V E R V I E W
TYPETRADED ASINDUSTRYS&P RATINGMOODY’S RATINGMARKET CAP# OF LOCATIONS
PUBLICNYSE: TJX (THE TJX COMPANIES, INC. – PARENT CO.)RETAIL - SPECIALTYA+ (STABLE) RATING DATE: 12/04/2013A2 (STABLE) RATING DATE: 08/19/2015$49.573 BILLION4,052 STORES IN 9 COUNTRIES (10/28/2017)
http://www.tjx.com
The TJX Companies, Inc. is the leading off-price retailer of appareland home fashions in the U.S. and worldwide. The company sellsfamily apparel, including footwear and accessories; home fashions,such as home basics, accent furniture, lamps, rugs, wall décor,decorative accessories, and giftware; seasonal items; jewelry; andother merchandise.
As of October 28, 2017, the Company operated a total of 4,052stores in nine countries. These include 1,219 TJ Maxx, 1,057Marshalls, 660 HomeGoods, 26 Sierra Trading Post, and 3 Homesensestores in the United States; 265 Winners, 117 HomeSense, and 72Marshalls stores in Canada; 540 TK Maxx and 55 Homesense storesin Europe; and 38 TK Maxx stores in Australia.
The TJX Companies, Inc. was founded in 1956 and is based inFramingham, Massachusetts.
TYPETRADED ASINDUSTRYS&P RATINGMOODY’S RATINGMARKET CAP# OF LOCATIONS
PUBLICNASDAQ: ROST (ROSS STORES, INC. – PARENT CO.)RETAIL - SPECIALTYA- RATING DATE: 06/12/2013A3 RATING DATE: 10/04/2017$30.61 BILLION1,412 ROSS STORES IN 37 STATES, D.C. & GUAM (NOV 2017)
https://www.rossstores.com/
Ross Stores, Inc., together with its subsidiaries, operates off-priceretail apparel and home fashion stores under the Ross Dress for Lessand dd's DISCOUNTS brand names in the United States. It primarilyoffers apparel, accessories, footwear, and home fashions. Thecompany's Ross Dress for Less stores sell its products at savings of20% to 60% off department and specialty store regular pricesprimarily to middle income households; and dd's DISCOUNTS storessell its products at savings of 20% to 70% off moderate departmentand discount store regular prices to customers from households withmoderate income.
As of October 9, 2017, it operated 1,412 Ross Dress for Lessstores in 37 states, the District of Columbia, and Guam; and 205dd's DISCOUNTS stores in 16 states.
The company was founded in 1982 and is headquartered in Dublin,California.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
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WICHITA SQUAREWICHITA FALLS, TEXASTENANT O V E R V I E W
TYPETRADED ASINDUSTRYMARKET CAP# OF LOCATIONS
PUBLICNASDAQ: SCVLRETAIL – APPAREL STORES$399.89 MILLION416 STORES IN 35 STATES & PUERTO RICO (12/19/2017)
https://www.shoecarnival.com/
Shoe Carnival, Inc., together with its subsidiaries, operates as familyfootwear retailer in the United States. It provides various dress,casual, and athletic footwear products for men, women, and children,as well as accessories, including socks, belts, shoe care items,handbags, sport bags, backpacks, jewelry, scarves, and wallets.
As of December 19, 2017, the Company operates 416 stores in 35states and Puerto Rico.
Shoe Carnival, Inc. was founded in 1978 and is headquartered inEvansville, Indiana.
TYPEINDUSTRY# OF LOCATIONS
PRIVATERESTAURANT – FAST FOODOVER 2,200 RESTAURANTS IN 47 STATES (2017)
https://www.chick-fil-a.com/
Chick-Fil-A, Inc. is a family owned and privately held restaurantcompany. They have served chicken that is whole breast meat, withno added fillers or hormones and bread is by hand in theirrestaurants. Salads are chopped and prepared fresh throughout theday. Whole lemons are freshly squeezed in their restaurantscombined with pure cane sugar and water.Currently, there are more than 2,200 restaurants in 47 states &Washington, D.C.The company was founded in 1967 and is headquartered in Atlanta,Georgia.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
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FACING WEST
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
W I C H I T A S Q U A R E | W I C H I T A F A L L S , T E X A S
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FACING EASTMidwestern State
University A liberal arts college with
over 6,060 students
BARWISE JUNIORHIGH SCHOOL
WICHITA SQUARE
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
W I C H I T A S Q U A R E | W I C H I T A F A L L S , T E X A S
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FACING SOUTHSIK E S C E N T E R M A L L
DILLARD’S, JCPENNEY, BOOT BARN, MAURICE’S, ON THE BORDER, BUFFALO WILD WINGS, SIKES 10 THEATRES, ETC.
WICHITA SQUARE
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
W I C H I T A S Q U A R E | W I C H I T A F A L L S , T E X A S
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FACING NORTH
WICHITA SQUARE
Q UA IL C R E E K C R O SSIN GBED BATH & BEYOND, MICHAELS, ULTA,
PETSMART, ACADEMY SPORTS + OUTDOORS, OFFICE DEPOT, ETC.
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
W I C H I T A S Q U A R E | W I C H I T A F A L L S , T E X A S
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Q U A I L C R E E K C R O S S I N GBED BATH & BEYOND, MICHAELS,
ULTA, PETSMART, ACADEMY SPORTS + OUTDOORS, OFFICE DEPOT, ETC.
AT&T CALL CENTER
M I D W E S T E R N S T A T E U N I V E R S I T YTHE STATE’S ONLY PUBLIC LIBERAL ARTS COLLEGE
W/ OVER 6,060 STUDENTS
S I K E S C E N T E R M A L LDILLARD’S, JCPENNEY, BOOT BARN,
MAURICE’S, ON THE BORDER, BUFFALO WILD WINGS, SIKES 10 THEATRES, ETC.
WICHITA FALLS HIGH SCHOOL
WICHITA SQUARE
Midwestern Pkwy12,920 CPD
Kemp Blvd20,580 CPD
AERIAL
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
W I C H I T A S Q U A R E | W I C H I T A F A L L S , T E X A S
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S H E P P A R D A I R F O R C E B A S ETHE LARGEST TRAINING BASE AND MOST DIVERSIFIED IN THE AIREDUCATION & TRAINING COMMAND DIVISION. THE HOST UNIT ATSHEPPARD IS THE 82D TRAINING WING (82 TRW), WHICH PROVIDESSPECIALIZED TECHNICAL TRAINING AND FIELD TRAINING FOR OFFICERS,AIRMEN, AND CIVILIANS OF ALL BRANCHES OF THE MILITARY, OTHERDOD AGENCIES, AND FOREIGN NATIONALS. THE 80TH FLYING TRAININGWING (80 FTW), ALSO AT SHEPPARD, CONDUCTS THE EURO-NATO JOINTJET PILOT TRAINING (ENJJPT) PROGRAM, A MULTI-NATIONALLY MANNEDAND MANAGED FLYING TRAINING PROGRAM CHARTERED TO PRODUCECOMBAT PILOTS FOR BOTH USAF & NATO. OVER 20,000 PERMANENTPARTY, AIRMEN IN TRAINING, AND SUPPORT PERSONNEL ARE ONSHEPPARD AFB DURING A NORMAL DUTY DAY.
WICHITA SQUARE
AERIAL Z O O M E D O U T
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
W I C H I T A S Q U A R E | W I C H I T A F A L L S , T E X A S
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Wichita Falls, Texas
1-MI 2-MI 10-MI
TOTAL POPULATION 8,986 33,854 117,177
2017 DAYTIME POP. 7,769 30,453 93,352
2017 AVG HH INCOME $54,799 $63,918 $60,802
2017 DEMOGRAPHICS
Wichita Falls is the county seat of Texas’ Wichita County.Wichita Falls is the principal city of the Wichita FallsMetropolitan Statistical Area, which encompasses all ofArcher, Clay and Wichita Counties.
Sheppard Air Force Base is the largest training base andmost diversified in the Air Education & Training CommandDivision. The host unit at Sheppard is the 82d Training Wing(82 TRW), which provides specialized technical training andfield training for officers, Airmen, and civilians of all branchesof the military, other DoD agencies, and foreign nationals.The 80th Flying Training Wing (80 FTW), also at Sheppard,conducts the Euro-NATO Joint Jet Pilot Training (ENJJPT)program, a multi-nationally manned and managed flyingtraining program chartered to produce combat pilots forboth USAF & NATO.
In addition to Sheppard Air Force Base, Wichita Falls is alsohome to the Newby-McMahon Building, constructeddowntown in 1919 and since known as the “world’s littlestskyscraper”.
Wichita Falls accommodates small businesses, corporateheadquarters, military expansion & everything in-between. Asthe largest city between Dallas & Oklahoma City, this regionis rapidly becoming the Texas destination for vocationalgrowth & opportunity such as Aerospace Parts Suppliers &Refurbishment, Manufacturing & AdvancedManufacturing (Alcoa/Howmet, Cryovac, PPG, PrattWhitney & Work Services Corp.) and Data Centers.
WICHITA SQUARE
LOCATION O V E R V I E W
JESSICA ZAHN GIBSON 602.770.7145 – CELL [email protected] | JUSTIN ZAHN 402.730.6021 – CELL JUSTIN@CIADVISOR. COM | WWW.CIADVISOR.COM
The information contained herein has been obtained from sources we deem reliable. We cannot assume responsibility for its accuracy.
140 MILES TO DALLAS
TOTAL POPULATION: 1,318,000
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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 Commercial
Investment Advisors, Inc. and should not be made available to any other person or entity without the written consent of Commercial Investment Advisors, Inc. 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. Commercial Investment Advisors, Inc. 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. Any projections, opinions, assumptions or estimates used in the Marketing Brochures are for example only and do not represent the current or future performance
of any property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Commercial Investment Advisors, Inc. has
not verified, and will not verify, any of the information contained herein, nor has Commercial Investment Advisors, Inc. conducted any investigation regarding these matters and
makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. Like all real estate investments, all of these investment
carries significant risks. Purchaser and Purchaser’s legal and financial advisors must request and carefully review all legal and financial documents related to the properties
and tenants. While the tenant’s past performance at these locations or other locations is an important consideration, it is not a guarantee of future success. Similarly, the
lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of
actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail
to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless
of tenant history and lease guarantees, Purchaser is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the
value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms
that Purchaser may be able to negotiate with a potential replacement tenant considering the location of the property, and Purchaser’s legal ability to make alternate use of
the property. All potential buyers must take appropriate measures to verify all of the information set forth herein.
BY ACCEPTING THIS MARKETING BROCHURE YOU AGREE TO RELEASE CIA BROKERAGE COMPANY/COMMERCIAL INVESTMENT ADVISORS, INC. HOLD ITHARMLESS FROM ANY KIND OF CLAIM, COST, EXPENSE, OR LIABILITY ARISING OUT OF YOUR INVESTIGATION AND/OR PURCHASE OF ANY PROPERTY.
J E S S ICA ZAHN G IBSONDesignated BrokerO +1 972 630 6000 x 101C +1 602 770 [email protected]
FOR MORE INFORMATION:
CONFIDENTIALITY A G R E E M E N T
JUST IN ZAHNVice PresidentO +1 480 214 5088 x 102C +1 402 730 [email protected]
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11-2-2015
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:
ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ 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 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.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone
CIA Brokerage Company 9004841 [email protected] 972 630 6000
Paul K. Blackburn 376821 [email protected] 210 828 7654
Paul K. Blackburn 376821 [email protected] 210 828 7654