Briar Meadows Office Park - WordPress.com...2015/07/13 · 2751 Nash Street Bryan, TX 77802 Price $1,166,972 Down Payment 35% / $408,440 Gross Square Feet 9,999 Price/Gross SF $116.71

BRYAN, TX

Briar Meadows OfficePark

OFFERING MEMORANDUM

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.

BRYAN, TX

Briar Meadows Office Park

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

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

NON-ENDORSEMENT NOTICE

Section 1 PRICING AND FINANCIAL ANALYSIS

Section 2 PROPERTY DESCRIPTION

Section 3 RECENT SALES

Section 4 LEASE COMPARABLES

Section 5 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS


Briar Meadows Office ParkBRYAN, TX

PRICING AND FINANCIAL ANALYSIS

Price $1,166,972

Down Payment 35% $408,440

Gross Square Feet 9,999

Price/Gross SF $116.71

Rentable Square Feet 9,999

Price/Rentable SF $116.71

Year Built 2010

Parcel Size 1.437 Acres

Parking 6.50/1,000 Square Feet

VITAL DATA

CAP Rate - Current 5.62%

Net Operating Income - Current $65,552

Net Cash Flow After Debt Service - Current 4.74% / $19,372

Total Return - Current 8.28% / $33,800

CAP Rate - Pro Forma 10.79%

Net Operating Income - Pro Forma $125,867

Net Cash Flow After Debt Service - Pro Forma 17.50% / $71,473

Total Return - Pro Forma 20.98% / $85,677

1



Major Employers

CompanyLocal

Employees

Texas A&M Agrilife Extension Services 2,500

Texas A&M University 2,138

The Texas A&M University System 1,721

Sanderson Farms Division 1,600

St. Joseph Regional Health Center 1,600

Texas A&M University 1,200

Center For Grazing & Ranch Management 1,000

Recreational Center 1,000

Food Services 900

College of Medicine 862

Blinn College-Bryan Campus 707

Demographics

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy ofthe information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus &Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2015 W0860065 Marcus & Millichap. All rights reserved.

1-Mile 3-Miles 5-Miles

2014 Total

Population11,022 66,113 124,604

2019 Total

Population11,532 68,951 129,815

2014 Total

Households4,160 24,537 44,959

2019 Total

Households4,418 25,877 47,439

Median HH Income $46,193 $38,889 $34,039

Per Capita Income

(based on Total

Population)

$24,119 $20,374 $19,549

Average (Mean) HH

Income$63,324 $54,509 $51,182

OFFERING SUMMARY

2751 Nash Street

Bryan, TX 77802

Price $1,166,972

Down Payment 35% / $408,440


Price/Gross SF $116.71


Price/Rentable SF $116.71

CAP Rate - Current 5.62%

CAP Rate - Pro Forma 10.79%


Year Built 2010

Type of Ownership Fee Simple

FIRST TRUST DEED

Loan Amount $758,532

Loan Type Proposed New

Interest Rate 4.75%

Amortization 25 Years

Program Conventional

Loan to Value 65%

Annualized Operating Data

Income Current Pro Forma

Base Rent

Occupied Space $76,017 $145,185

Available Space at Market Rents $57,144

Gross Potential Rent $133,161 $145,185

Expense Reimbursements $29,976 $58,186

SIG Build Out Recovery Income $14,286

Gross Potential Income $177,423 $203,371

Vacancy/Collection Allowance 32.2% / $57,144 5.0% / $10,163

Effective Gross Income $120,279 $193,208

Total Expenses $54,727 $67,341

Net Operating Income $65,552 $125,867

Reserves $2,500

Net Cash Flow Before Debt Service $65,552 $123,367

Debt Service $46,180 $51,894

Debt Coverage Ratio 1.42 2.43

Net Cash Flow After Debt Service 4.74% / $19,372 17.50% / $71,473

Principal Reduction $14,428 $14,204

Total Return 8.28% / $33,800 20.98% / $85,677

Location

2

Financing



ExpensesReal Estate Taxes $31,887 $35,076

Insurance $5,402 $5,672

Utilities $5,588 $5,558

Contract Services $11,850 $11,850

Management Fee (% of EGI) $0 $6,685

Reserves $0 $2,500

TOTAL EXPENSES $54,727 $67,341

EXPENSES/SF $5.47 $6.73

Loan information is time sensitive and subject to

change. Contact your local Marcus & Millichap Capital

Corporation representative.


There is an additional 1.71 acres of shovel ready contiguous land that is not included in this offering. This acreage is

leveled, ready to build with all utilities to the site and will support two additional buildings for a total of 20,000 square

feet of rentable building area.

The list price for the land is $5.00 per square foot or $372,438.00

FINANCIAL OVERVIEW

3



Existing Financing

Loan Type Other

CommentsN/A


Proposed Financing

First Trust Deed

Loan Amount $758,532

Loan Type Proposed New

Interest Rate 4.75%

Amortization 25 Years

Program Conventional

Loan to Value 65%

Debt Coverage Ratio 1.42

FINANCING

4




Suite Tenant SF % of

Total SF

Lease

Commence

Lease

Expire

Annual

Rent

Rent/

SF

Lease Type Base

Yr./Exp.

Reimbs.

100 SIG Insurance Services 3,000 30.00% 08/01/2012 07/31/2017 $44,250 $14.75 NNN $16,431

110 Vacant 4,762 47.62% N/A N/A $0 $0.00 N/A N/A

140 Edward Jones 1,161 11.61% 07/01/2011 06/30/2016 $18,855 $16.24 NNN $6,359

150 Brazos Valley Farm Bureau 1,076 10.76% 08/01/2012 01/31/2019 $12,912 $12.00 NNN $7,185

TOTAL AVAILABLE 4,762 48%

TOTAL OCCUPIED 5,237 52% $76,017 $29,975

TOTAL 9,999 100% $76,017 $29,975

RENT ROLL

5



For The Year Beginning Year 1

Jul 2015

Year 2

Jul 2016

Year 3

Jul 2017

Year 4

Jul 2018

Year 5

Jul 2019

Year 6

Jul 2020

Year 7

Jul 2021

Year 8

Jul 2022

Year 9

Jul 2023

Year 10

Jul 2024

Tenant(s) Name Edward

Jones

SIG

Insurance

Services

Brazos

Valley Farm

Bureau

Total Number of Tenants 1 1 1

Total Square Feet 1,161 3,000 1,076

Total Percentage 11.6% 30.0% 10.8%

Cumulative Percentage 11.6% 41.6% 52.4%


Percentage of SF Expiring Number of Tenants Expiring Cumulative % of SF Expiring

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

To

tal P

roje

ct S

qu

are

Fo

ota

ge

0

1

Nu

mb

er

of T

en

an

ts

Jul 201512%

Jul 20160%

Jul 201730%

Jul 201811%

Jul 20190%

Jul 20200%

Jul 20210%

Jul 20220%

Jul 20230%

Jul 20240%

LEASE EXPIRATION SUMMARY

Any projections, opinions, assumptions or estimates used here within are for example purposes only and do not represent the current or future performance of the property.

Tenant Summary

Expense Reimbursements

Real Estate Taxes $3,431.39

Insurance $585.47

Tenant Name Brazos Valley Farm Bureau


Pro Rata Share of Project 11%

Lease Type NNN

Lease Commencement 2/1/2014

Lease Expiration 1/31/2019

Original Term 2/1/2014

CAM Reimbursements $3,167.74

Lease Summary

Lease Years Annual Rent Monthly Rent Monthly Rent/SF

Five $12,912.00 $1,076.00 $1.00

Base Rent

6




Roof & Structure Landlord

Landlord Obligations Roof & Structure

Headquartered College Station

No. of Locations Three

Web Site http://www.texasfarmbureau.org/

TENANT AND LEASE SUMMARY

Tenant Name Edward Jones



Lease Type NNN




CAM Reimbursements $2,024.78

Lease Summary

Base Rent

Tenant Summary

7


Five $18,855.00 $1,571.25 $1.35





Headquartered St. Louis, MO

No. of Locations 11,000

Web Site www.edwardjones.com




Insurance $631.72


Tenant Name SIG Insurance Services



Lease Type NNN




CAM Reimbursements $5,232,00

Lease Summary

Base Rent

Tenant Summary

8


Five $44,250.00 $3,687.50 $1.23





Headquartered Bryan, Texas

No. of Locations One

Web Site http://www.sig4you.com




Insurance $1,632.36


9




Current Per SF Pro Forma Per SF

Real Estate Taxes $31,887 $3.19 $35,076 $3.51

Insurance $5,402 $0.54 $5,672 $0.57

Utilities $5,588 $0.56 $5,558 $0.56

Contract Services $11,850 $1.19 $11,850 $1.19

Management Fee (% of EGI) $0 $0.00 $6,685 $0.67

Reserves $0 $0.00 $2,500 $0.25

TOTAL EXPENSES $54,727 $5.47 $67,341 $6.73

EXPENSES

10



Comments

SIG Insurance pays $14,286 in buildout recovery through their lease term and will go to base rent once they renew.




Current Per SF Pro Forma Per SF

BASE RENT

Occupied Space $76,017 $14.52 $145,185 $14.52

Available Space at Market Rents (4,762 SF) $57,144 $12.00

GROSS POTENTIAL RENT $133,161 $13.32 $145,185 $14.52


Real Estate Taxes $16,701 $1.67 $35,076 $3.51

Insurance $2,850 $0.29 $5,672 $0.57

CAM $10,425 $1.04 $17,438 $1.74

SIG Build Out Recovery Income $14,286 $1.43

GROSS POTENTIAL INCOME $177,423 $17.74 $203,371 $20.34

Vacancy/Collection Allowance (% of GPI) 32.2% / $57,144 $5.71 5.0% / $10,163 $1.02

EFFECTIVE GROSS INCOME $120,279 $12.03 $193,208 $19.32

Total Expenses $54,727 $5.47 $67,341 $6.73

NET OPERATING INCOME $65,552 $6.56 $125,867 $12.59

Reserves $2,500 $0.25

NET CASH FLOW BEFORE DEBT SERVICE $65,552 $6.56 $123,367 $12.34

INCOME & EXPENSES


PROPERTY DESCRIPTION

Marcus & Millichap is pleased to exclusively offer for sale Briar Meadows Office Park located at 2751 Nash Street in Bryan, Texas. Briar Meadows Office Park consists of one single story 9,999 square foot Class B professional office building.

The phase I building was built in 2010 and is constructed from wood frame and joist capped with a low maintenance brick and stone exterior and consists of five rentable units. The tenants are on triple net leases and reimbursements include real estate taxes, insurance, utilities and contract services.

The property is located approximately one half mile west of Texas State Highway 6, which is the main transportation corridor that serves Bryan and College Station.

Priced at $1,166,972 with an 11 percent CAP rate on Pro Forma, Briar Meadows Office Park is an excellent opportunity for first time investors or for those who are interested in adding an attractive and affordable office asset to their portfolio.

Investment Highlights

■ 9,999 Square Feet of Rentable Building Area

■ Triple Net Leases

■ Five Units | Single Story Professional Office

■ Low Maintenance and Management

■ Wood Frame Capped With Brick and Stone

■ Bryan and College Station Demographics

■ Quick Access to Texas State Highway 6

■ $1,166,972 | 10.79 Percent CAP Rate on Pro Forma

12




INVESTMENT OVERVIEW

Construction

Property Features

■ 2010 Construction

■ Wood Frame Capped With Brick & Stone

■ Concrete Parking Area - 6.50/1,000 SF

■ 9,999 Square Feet of Rentable Building Area

■ Triple Net Leases

■ Up to Five Leaseable Units

■ Single Story Professional Office

■ $1,166,972 | $116.71 Per Square Foot

13




PROPERTY FEATURES

14


The Offering

Property Briar Meadows Office Park

Property Address 2751 Nash Street

Bryan, TX 77802

Property Type Professional Office

Assessor's Parcel Number 147720-0300-0020

Site Description


Type of Ownership Fee Simple


Floor Area Ratio (FAR) 0.01

Zoning Commercial

Parking 6.50/1,000 Square Feet

Parking Ratio 6.50/1,000 Square Feet

Street Frontage Nash Street

Cross Street Nash Street and WMJ Bryan Parkway

Highway Access Texas State Highway 6

Land for Additional Development 1.71 Acres / 74,487 Square Feet

Construction

Year Built 2010

Construction Type Wood Frame / Brick and Stone Cap

Number of Floors One

Number of Suites Five

Exterior Walls Brick

Roof Shingle

Foundation Concrete

Parking Surface Concrete



PROPERTY SUMMARY

15




PROPERTY PHOTOS

16




SITE PLAN

17




FLOOR PLANS

18




SURVEY

Local Map

19




AREA MAPS

Regional Map

Regional Map

20




AERIAL PHOTO


RECENT SALES

1)

2)

3)

4)

5)


Stonebridge Pediatrics

Social Security Office


Spencer Hill Executive Offices

2614 East Bankhead Highway

22

RECENT SALES



RECENT SALES MAP

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30.00

60.00

90.00

120.00

150.00

180.00

210.00

240.00

270.00

300.00

Subject StonebridgePediatrics

SocialSecurityOffice


SpencerHill

ExecutiveOffices

2614East

BankheadHighway

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

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11.00

12.00

Subject StonebridgePediatrics



SpencerHill

ExecutiveOffices

2614East

BankheadHighway

Average Price Per Rentable SF

23

Average Cap Rate

RECENT SALES



CAP RATE AND PRICE PER RENTABLE SF

2

1

Comments

Single Tenant with eight years remaining on term and three percent CPI increases.

Subject Property


2751 Nash Street

Bryan, TX 77802

Stonebridge Pediatrics

5561 Virginia Parkway

McKinney, TX 75071

Social Security Office4314 Wendover Street

Wichita Falls, TX 76309

Comments

GSA lease with eight years remaining at closing. NOI set to drop to 9.39 percent CAP rate July of 2016 and this CAP

represents a blend of 14.04 percent CAP at sale date and 9.39 percent CAP after July 2016.

Offering Price: $1,166,972

Rentable SF: 9,999 Percent Down: 35%

Year Built: 2010 CAP Rate: 5.62%

Occupancy: 52% Price/Rentable SF: $116.71

Close of Escrow: 01/17/2014 Sales Price: $3,018,000








24

RECENT SALES



RECENT SALES

3

4

5


600 East Peyton Street

Sherman, TX 75090

Spencer Hill Executive Offices

2 Spencer Road

Boerne, TX 78006

2614 East Bankhead Highway

Weatherford, TX 76087

Comments

Lease changes in July of 2016 and NOI drops will cause CAP rate to drop from 13.87 percent to 8.85 percent. This

CAP rate represents an average of this.

Close of Escrow: 09/16/2013 Sales Price: $875,555





Rentable SF: 12,222 Percent Down: N/A



25


Rentable SF: 8,750 Percent Down: N/A



RECENT SALES



RECENT SALES


LEASE COMPARABLES

1)

2)

3)

4)

5)


Briarcrest Square

Wolf Pen Ridge

219 Rock Prairie Road

3901 University Drive East

Memorial Village

27

LEASE COMPARABLES



RENT COMPARABLES MAP

Average Occupancy

0

10

20

30

40

50

60

70

80

Subject BriarcrestSquare

WolfPen

Ridge

219Rock

PrairieRoad

MemorialVillage

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

18.00

20.00

22.00

Subject BriarcrestSquare

WolfPen

Ridge

219Rock

PrairieRoad

3901University

DriveEast

MemorialVillage

28

LEASE COMPARABLES

Average Rent per SF



OCCUPANCY AND AVERAGE RENT PER SF

2

1

Subject Property


2751 Nash Street

Bryan, TX 77802

Briarcrest Square

1121 Briarcrest Drive

Bryan, TX 77802

Wolf Pen Ridge

302 East Holleman Drive

College Station, TX 77840

Date Surveyed: 06/04/2015

Rentable SF: 9,999

Occupancy: 52%

Year Built: 2010


Rentable SF: 3,000

Occupancy: 72%

Year Built: 1984


Rentable SF: 7,825

Occupancy: 55%

Year Built: 2005

Rent/SF Available SF Lease Type

$12.00 3,000 NNN


$13.00 3,524 NNN

29

LEASE COMPARABLES



LEASE COMPARABLES


$14.52 9,999 NNN

3

4

5

219 Rock Prairie Road

College Station, TX 77845

3901 University Drive East

Bryan, TX 77802

Memorial Village

2304 De Lee Street

Bryan, TX 77802


Rentable SF: 6,000

Occupancy: 67%

Year Built: 2014


$22.00 1,972 NNN


Rentable SF: 4,500

Occupancy: 0%

Year Built: 2015


Rentable SF: 15,980

Occupancy: 75%

Year Built: 2003


$22.00 4,500 NNN


$18.00 4,000 NNN

30

LEASE COMPARABLES



LEASE COMPARABLES


DEMOGRAPHIC ANALYSIS

Demographic data © 2012 by Experian.

32




1 Mile 3 Miles 5 Miles

2000 Population 8,594 54,643 104,836

2010 Population 10,604 63,031 120,147

2014 Population 11,022 66,113 124,604

2019 Population 11,532 68,951 129,815

2000 Households 3,242 19,976 36,806

2010 Households 3,949 23,268 42,904

2014 Households 4,160 24,537 44,959

2019 Households 4,418 25,877 47,439

2014 Average Household Size 2.39 2.60 2.48

2014 Daytime Population 3,796 28,146 60,100

2000 Owner Occupied Housing Units 54.10% 44.80% 37.91%

2000 Renter Occupied Housing Units 41.25% 47.86% 55.51%

2000 Vacant 4.65% 7.34% 6.57%



2014 Vacant 6.49% 9.07% 8.31%



2019 Vacant 6.61% 9.35% 8.57%

$ 0 - $14,999 15.0% 20.5% 25.8%

$ 15,000 - $24,999 14.1% 14.9% 14.6%

$ 25,000 - $34,999 10.2% 10.9% 10.6%

$ 35,000 - $49,999 14.2% 13.7% 13.0%

$ 50,000 - $74,999 21.2% 18.8% 16.3%

$ 75,000 - $99,999 11.3% 9.0% 8.2%

$100,000 - $124,999 5.5% 5.6% 5.1%

$125,000 - $149,999 2.2% 2.4% 2.6%

$150,000 - $199,999 2.8% 2.2% 1.8%

$200,000 - $249,999 1.2% 0.9% 0.8%

$250,000 + 2.3% 1.2% 1.2%

2014 Median Household Income $46,193 $38,889 $34,039

2014 Per Capita Income $24,119 $20,374 $19,549

2014 Average Household Income $63,324 $54,509 $51,182

DEMOGRAPHIC REPORT


33




Geography: 5 miles

Population

In 2014, the population in your selected geography is 124,603. The population has changed by 18.85% since 2000. It is estimated

that the population in your area will be 129,814 five years from now, which represents a change of 4.18% from the current year. The

current population is 50.86% male and 49.13% female. The median age of the population in your area is 24.1, compare this to the

Entire US average which is 37.3. The population density in your area is 1,587.40 people per square mile.

Households

There are currently 44,959 households in your selected geography. The number of households has changed by 22.15% since 2000.

It is estimated that the number of households in your area will be 47,439 five years from now, which represents a change of 5.51%

from the current year. The average household size in your area is 2.48 persons.

Income

In 2014, the median household income for your selected geography is $34,038, compare this to the Entire US average which is

currently $51,972. The median household income for your area has changed by 32.35% since 2000. It is estimated that the median

household income in your area will be $39,611 five years from now, which represents a change of 16.37% from the current year.

The current year per capita income in your area is $19,549, compare this to the Entire US average, which is $28,599. The current

year average household income in your area is $51,181, compare this to the Entire US average which is $74,533.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 67.13% White, 14.09% Black, 0.09% Native American and 4.78%

Asian/Pacific Islander. Compare these to Entire US averages which are: 71.60% White, 12.70% Black, 0.18% Native American and

5.02% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 30.84% of the current year

population in your selected area. Compare this to the Entire US average of 17.13%.

Housing

In 2000, there were 14,935 owner occupied housing units in your area and there were 21,870 renter occupied housing units in your

area. The median rent at the time was $488.

Employment

In 2014, there are 60,100 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 61.50% of employees are employed in white-collar occupations in this geography, and 38.74% are employed in blue-collar

occupations. In 2014, unemployment in this area is 6.38%. In 2000, the average time traveled to work was 17.7 minutes.

SUMMARY REPORT


Number of people living in a given area per square mile.

34




POPULATION DENSITY


The number of people employed in a given area per square mile.

35




EMPLOYMENT DENSITY


Average income of all the people 15 years and older occupying a

single housing unit.

36




AVERAGE HOUSEHOLD INCOME

37

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 Services

CLOSING PAGE

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.

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 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 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


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.

DISCLAIMER

BRYAN, TX

OFFERING MEMORANDUM


Offices Throughout the U.S. and Canada

www.MarcusMillichap.com

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Timothy SpeckBroker

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Briar Meadows Office Park - WordPress.com...2015/07/13 · 2751 Nash Street Bryan, TX 77802 Price $1,166,972 Down Payment 35% / $408,440 Gross Square Feet 9,999 Price/Gross SF $116.71