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OFFERING MEMORANDUM
FERGUSON VILLAGE9888 FERGUSON ROAD | DALLAS, TEXAS 75228
CAMERON DEPTULA
INVESTMENT SALES
c: 214.497.0276
o: 214.526.3626 x 116
www.DB2RE.com
LISTING BROKER
2929 Carlisle Street, Suite 250
Dallas, TX 75204
TABLE OF CONTENTS
SECTION 1 EXECUTIVE SUMMARY 03
SECTION 2 PROPERTY INFORMATION 05
SECTION 3 LOCATION OVERVIEW 08
SECTION 4 MARKET OVERVIEW 11
SECTION 5 FINANCIAL ANALYSIS 13
SECTION 6 DISCLAIMER 18
DB2RE INVESTMENT SALES is pleased to present Ferguson Village Shopping Center, a 36,498 square foot retail center located just east of Lakewood in Dallas, Texas. Due to excellent densities and proximity to Downtown Dallas and White Rock Lake, East Dallas has become one of the fastest growing and gentrifying markets within the DFW Metroplex. Ferguson Village boasts 5.00 acres of prime infill land at the signalized NEC of Ferguson Road and Oates Drive, bringing over 31,000 vehicles to the property daily. Less than two miles from south sits Interstate 30, as well as, Lakewood / Dallas Arboretum at White Rock Lake to the west. Adjacent to the property sits a highly trafficked Family Dollar and 7-Eleven, promoting cross shopping opportunities with tenants at Ferguson Village.
Offered below replacement cost, the investment provides new ownership with a unique urban redevelopment play and additional value-add due to short-term leases and below market rental rates. Investors will benefit from a recurring revenue stream from long-serving tenants, providing greater flexibility while repositioning the asset. With over 135K residents within a three-mile radius, tremendous growth and gentrification surrounding the property and numerous value-add opportunities, Ferguson Village is the perfect value-add investment for both developers and investors seeking core opportunities.
THE OFFERING
EXECUTIVE SUMMARY DB2RE | 3
LOCATION: 9888 Ferguson RoadDallas, Texas 75228
SALE PRICE: $4,545,623
NOI: $386,378
CAP RATE: 8.50%
PRICE PSF: $125 PSF (Bldg) / $21 PSF (Land)
BUILDING SIZE: 36,498 SF
OCCUPANCY: 96.93%
LOT SIZE: 217,889 SF / 5.00 AC
ZONING: CR
YEAR BUILT: 1957 / 1960 - Renovated 2017
DEBT: Free & Clear
• Excellent neighborhood shopping center strategically located within dense East Dallas market.
• Perfect future redevelopment opportunity with over 5 acres of prime infill land or adaptive reuse, utilizing 36,498 SF of improvements.
• Terrific signalized corner off Ferguson Road & Oates Drive, just north of Interstate 30 and south of Interstate 635.
• Close proximity to Lakewood & White Rock Lake, less than 2 miles.
• Offered well below replacement cost.
• Limited landlord oversight or management needed.
• Short-term leases with below market rates (average rental rate at $12.03 PSF) allows new ownership to maximize value by either redeveloping or leasing-up / pushing rental rates.
• Completed upgrades include updated parking lot, new LED parking pole lighting, new LED lighting in back of property, new paint and updated signage.
• Dense infill positioning creates a high-barrier of entry within a gentrifying market.
• Property benefits from 21,354, 135,520 and 356,201 residents within a 1, 3 and 5 mile radius. Average household incomes range between $57,000 to over $75,000 within the respective trade range.
INVESTMENT HIGHLIGHTS
EXECUTIVE SUMMARY DB2RE | 4
PROPERTY DETAILS
PROPERTY INFORMATION DB2RE | 5
ADDRESS: 9888 Ferguson RoadDallas, Texas 75228
APN: 00-00071-026-900-00-0000-00071-027-200-00-00
BUILDING SIZE: 36,498 SF
LOT SIZE: 217,889 SF / 5.00 AC
OCCUPANCY: 96.93%
YEAR BUILT: 1957 / 1960 - 2017 (Renovated)
PARKING: Approximately 347 surface spaces / 9.14 per 1,000 + street parking
SIGNAGE: Two (2) tenant monument signs along Oates Drive & Ferguson Road
INGRESS / EGRESS: Six (6) points of ingress & egress
ZONING: CR
ROOF: Good Condition
HVAC: Roof mounted HVAC units
TRAFFIC: Ferguson Road - 20,700 vpdOates Drive. - 10,140 vpd
100 A-C14,688
2013,940
2072,560
2193,500
100 D1,120
1511,800
1532,240
1552,240
1591,120
1611,120
1631,050
165980
NAP
NAP
SITE PLAN
SURVEY
LOCAL MAP
REGIONAL MAP
PROPERTY INFORMATIONDEMOGRAPHICS
DB2RE | 11
1 MILE 3 MILE 5 MILE
TOTAL POPULATION: 21,354 135,520 356,201
POPULATION GROWTH RATE: 0.92% 0.83% 0.94%
TOTAL HOUSEHOLDS: 6,950 49,014 127,247
HOUSEHOLD GROWTH RATE: 0.68% 0.61% 0.75%
AVERAGE HOUSEHOLD INCOME: $56,782 $67,240 $75,146
MEDIAN AGE: 32.6 33.7 33.7
BUSINESSES: 274 3,153 8,804
EMPLOYEES: 2,189 34,245 104,867
% WHITE: 34.21% 36.37% 38.23%
% HISPANIC: 35.40% 31.76% 30.62%
#1 - Top Metro For Talent Attraction, EMSI - 2017#1 - Best Cities for Jobs 2017, Forbes - 2017#1 - Best Places To Live (Top 20), U.S. News & World Report - 2017#1 - Percent Job Growth, 2016#1 - Real Estate Market For 2016, Urban Land Institute – 2016#1 - CEO’s Name Texas Best State For Business, CEO Magazine - 2016#1 - Top Emerging Real Estate Market In 2016, PWC / ULI - 2015#1 - America’s #1 Most Business Friendly City, MarketWatch - 2015#1 - Most Efficient Metro Region, The U.S. COCF - 2015#1 - Best City for Jobs This Fall (Dallas), Forbes - 2014#1 - Texas has the Best Business Climate, DCI - 2014#1 - Downtown Fort Worth is No. 1, Livability.com - 2014#1 - Top city in the country to find tech professionals (Dallas), Kforce - 2013#1 - Most affordable Major Metropolitan Area in the U.S., ZipRealty – 2013#2 - Country’s Healthiest Housing Markets, CNBC - 2017#2 - Top Metros of 2016, Site Selection - 2017#2 - Absolute Job Growth, 2016#2 - Best City for Job Seekers in 2015 (Fort Worth), NerdWallet – 2015#3 - Best Sports Cities In The United States, Sports Illustrated - 2017#3 - Hottest Housing Market, Zillow – 2016#3 - Corporate Expansions, 2016
DFW NATIONAL RECOGNITION
MARKET OVERVIEW
DFW MARKET OVERVIEW
MARKET OVERVIEW
The Dallas/Fort Worth Metroplex (DFW) is a dynamic 12-county region made up of Dallas, Fort Worth, and another 150 municipalities. The DFW Metroplex is the largest urban agglomeration in Texas and the fourth largest in the United States spanning an area of 9,286 square miles with a population of approximately 7.1 million people. As the fourth fastest growing region in the United Sates, the DFW population in 2016 was 33.6% higher than in 2000 according to data from Neilson Claritas; by the year 2030, it is projected that over 10.5 million people will be living in the Metroplex according to the Dallas Regional Chamber.
The DFW region is the most economically diverse region in the state of Texas. The GDP of North Texas is estimated to be $486 Billion, and if DFW were its own state it would be the 9th largest in the Nation and 23rd largest country in the World, behind Taiwan. Twenty Fortune 500 companies have their headquarters in DFW. DFW is connected to the world by the nation’s fourth busiest airport and is served by 55 international flights. DFW has the largest workforce in the state of Texas totaling over 3.51 million people, and 34.20% of the population 25 and older have a bachelor’s degree or higher. In DFW, there are 33 colleges and universities, 157 public school districts and 96 public charter schools, according to the North Texas Commission.
Dallas/Fort Worth consistently ranks as a top market for job growth over the short and long term due to its central location, pro-business environment and strong economy. Historically a leader with respect to job growth, DFW added 717,000 jobs since 2010 and 120,500 jobs in 2016 alone, equating to a 3.50% increase to the employment base. Dallas/Fort Worth as well as Texas, continuously boast an unemployment rate lower than the National Average (4.30%). As of Today, DFW enjoys an average unemployment rate of 3.80%.
TOTALS
TENANT SUITE GLA % Of GLA LEASE TYPE START END ANNUAL PSF % OF REV ANNUAL PSF % OF REV TOTAL % REV
Texas Barber College 100 A-C 14,688 40.24% NNN 03/17 02/22 $176,256 $12.00 33.75% $55,667 $3.79 10.66% 44.40%
Available 100 D 1,120 3.07% - - - $0 $0.00 0.00% $0 $0.00 0.00% 0.00%
Iglesia Cristiana Kairos de Dios Inc. 151 1,800 4.93% NNN 09/17 08/20 $18,000 $10.00 3.45% $3,411 $1.89 0.65% 4.10%
Beraca Productions 153 2,240 6.14% NNN 09/17 08/22 $26,400 $11.79 5.05% $5,094 $2.27 0.98% 6.03%
Iglesia Santa Scion 155 2,240 6.14% Gross 01/19 12/19 $24,640 $11.00 4.72% $0 $0.00 0.00% 4.72%
Fiesta De Frutas 159 1,120 3.07% Gross 01/19 12/20 $18,900 $16.88 3.62% $0 $0.00 0.00% 3.62%
Winjie Bao 161 1,120 3.07% NNN 02/18 01/21 $13,440 $12.00 2.57% $2,122 $1.89 0.41% 2.98%
Saif Radhee 163 1,050 2.88% NNN 07/18 07/20 $13,200 $12.57 2.53% $3,979 $3.79 0.76% 3.29%
Gaming Center 165 980 2.69% NNN 08/17 08/20 $13,440 $13.71 2.57% $1,857 $1.89 0.36% 2.93%
King Wash N Dry 201 3,940 10.80% Gross 06/14 05/24 $48,000 $12.18 9.19% $0 $0.00 0.00% 9.19%
Bingo 207 & 219 6,200 16.99% NNN 07/19 06/24 $74,400 $12.00 14.24% $23,498 $3.79 4.50% 18.74%
TOTALS: 36,498 100% $426,676 82% $95,628 18% 100%
TOTAL NUMBER OF TENANTS / GLA 11 36,498 100.00%
TOTAL OCCUPIED 10 35,378 96.93%
TOTAL AVAILABLE 1 1,120 3.07%
AVERAGE SHOP RENT / GLA $12.10 20,690 58.48%
AVERAGE ANCHOR RENT / GLA $12.00 14,688 41.52%
AVERAGE OVERALL RENT / GLA $12.06 35,378 100.00%
LEASE TERM BASE RENTAL TERMS RECOVERIES
NOTES:. [1] Analysis per August 2019 Rent Roll with analysis start date of 1/1/2020.[2] $200 per month / $2,400 per year in Other Income from parking agreement with Latinos Discount Tire.[3] Tenant NNN reimbursements being paid per lease.[3] CAM per Ownership's 2019 budget / 2018 actuals.[4] Management Fee estimated at 4.0% of EGI (excludes parking revenue).[5] Insurance per Ownership's actual.[6] Taxes per current DCAD statement.
RENT ROLL
FINANCIALS DB2RE | 14
TENANT SUITE GLA % ANNUAL PSF ANNUAL PSF ANNUAL PSF ANNUAL PSF ANNUAL PSF
Texas Barber College 100 A-C 14,688 40.24% $10,187 $0.69 $8,408 $0.57 $9,650 $0.66 $27,423 $1.87 $55,667 $3.79
Available 100 D 1,120 3.07% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
Iglesia Cristiana Kairos de Dios Inc. 151 1,800 4.93% $624 $0.35 $515 $0.29 $591 $0.33 $1,680 $0.93 $3,411 $1.89
Beraca Productions 153 2,240 6.14% $932 $0.42 $769 $0.34 $883 $0.39 $2,509 $1.12 $5,094 $2.27
Iglesia Santa Scion 155 2,240 6.14% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
Fiesta De Frutas 159 1,120 3.07% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
Winjie Bao 161 1,120 3.07% $388 $0.35 $321 $0.29 $368 $0.33 $1,046 $0.93 $2,122 $1.89
Saif Radhee 163 1,050 2.88% $728 $0.69 $601 $0.57 $690 $0.66 $1,960 $1.87 $3,979 $3.79
Gaming Center 165 980 2.69% $340 $0.35 $280 $0.29 $322 $0.33 $915 $0.93 $1,857 $1.89
King Wash N Dry 201 3,940 10.80% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
Bingo 207 & 219 6,200 16.99% $4,300 $0.69 $3,549 $0.57 $4,073 $0.66 $11,576 $1.87 $23,498 $3.79
TOTALS: 36,498 100% $17,499 $14,443 $16,577 $47,109 $95,628
TOTAL RECOVERYCAM MANAGEMENT FEE INSURANCE TAXES
NNN REIMBURSEMENTS
FINANCIALS DB2RE | 15
TENANT SUITE GLA DATE PSF RENEWAL NOTES
Texas Barber College 100 A-C 14,688 - -Three (3) five-year options at increases of $12.66,
$13.28 & $14.30Four original leases were combined into one (1) agreement
per First Amendment.
Available 100 D 1,120 - - - -
Iglesia Cristiana Kairos de Dios Inc. 151 1,800 - - -Tenant paying 50% of NNN expenses until 9/1/2019, where
it goes to 100%
Beraca Productions 153 2,240 09/19 $11.79 -Tenant paying 60% of NNN expenses until 9/1/2020, where
it goes to 100%
09/20 $12.00
Iglesia Santa Scion 155 2,240 - - - -
Fiesta De Frutas 159 1,120 - - - -
Winjie Bao 161 1,120 - - -Tenant paying 50% of NNN expenses until 2/1/2020, where
it goes to 100%
Saif Radhee 163 1,050 - - - -
Gaming Center 165 980 - - - -
King Wash N Dry 201 3,940 - - - -
Bingo 207 & 219 6,200 07/21 $12.25 One (1) five-year option at $13.00 PSF -
TOTALS: 36,498
OPTION NOTESBASE RENTAL INCREASE
TENANT NOTES
FINANCIALS DB2RE | 16
CURRENT PSF % Of EGR
REVENUE:
Rental Revenue $426,676 $11.69 81.32%
Other Revenue $2,400 $0.07 0.46%
CAM Recovery $17,499 $0.48 3.34%
Management Recovery $14,443 $0.40 2.75%
Insurance Recovery $16,577 $0.45 3.16%
Real Estate Tax Recovery $47,109 $1.29 8.98%
TOTAL REVENUE $524,704 $14.38 100.00%
OPERATING EXPENSES:
CAM Expenses ($25,312) ($0.69) -4.82%
Management Fee Expenses ($20,892) ($0.57) -3.98%
Insurance Expenses ($23,978) ($0.66) -4.57%
Real Estate Taxes ($68,143) ($1.87) -12.99%
TOTAL EXPENSES ($138,325) ($3.79) -26.36%
NOI: $386,378 $10.59 73.64%
Nov-19
INCOME & EXPENSE
FINANCIALS DB2RE | 17
TENANT SUITE END AVAILABLE MTM 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Available 100 D - 1,120
Iglesia Santa Scion 155 12/19 2,240
Saif Radhee 163 07/20 1,050
Gaming Center 165 08/20 980
Iglesia Cristiana Kairos de Dios Inc. 151 08/20 1,800
Fiesta De Frutas 159 12/20 1,120
Winjie Bao 161 01/21 1,120
Texas Barber College 100 A-C 02/22 14,688
Beraca Productions 153 08/22 2,240
King Wash N Dry 201 05/24 3,940
Bingo 207 & 219 06/24 6,200
TOTAL EXPIRATION AREA 1,120 0 2,240 4,950 1,120 16,928 0 10,140 0 0 0 0 0 0 0 0 0
PERCENT OF TOTAL CENTER 3.07% 0.00% 6.14% 13.56% 3.07% 46.38% 0.00% 27.78% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EXPIRATION SCHEDULE
FINANCIALS DB2RE | 18
Davidson & Bogel Real Estate, LLC: The information contained in this document pertaining to Ferguson Village
Shopping Center “Property” has been obtained from sources believed reliable. While DB2RE does not doubt its
accuracy, DB2RE has not verified the information and makes no guarantee, warranty or representation about the in-
formation contained in this package. It is your (Purchaser) responsibility to independently confirm the accuracy and
completeness of the information. Any projections, opinions, assumptions or estimates used herein are for example
only and does not represent the current or future performance of the property. The value of this transaction to you
depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your
advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the
suitability of the property for your needs. Photos herein are the property of their respective owners and use of these
images without the express written consent of the owner is prohibited. DB2RE and the DB2RE logo are service
marks of Davidson & Bogel Real Estate, LLC and/or its affiliated or related companies in the United States and other
countries. All other marks displayed as well as any elements of this document are the property of their respective
owners and DB2RE. No transmission of this document is permitted without written consent from DB2RE. As a con-
dition of DB2RE’s consent to communicate the information contained herein–as well as any information that may be
communicated to you subsequently either verbally or in writing by DB2RE, owner or agents of either of these parties
regarding the Property – it is required that you agree to treat all such information confidentially.
DISCLAIMERDISCLOSURE
DB2RE | 19
Approved by the Texas Real Estate Commission for Voluntary Use. Texas 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: 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 bro-ker is obligated by law to treat you honestly.
Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.
Buyer, Seller, Landlord or Tenant
01A TREC No. OP-K
Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.
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.
(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 commu-nicate with and carry out instructions of one party and another person who is licensed under that Act and as-sociated with the broker to communicate with and car-ry out instructions of the other party.
IF THE BROKER REPRESENTS THE OWNER: The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a differ-ent 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 own-er’s agent must disclose to the owner any material in-formation 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 Es-tate 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 under-lined print, set forth the broker’s obligations as an in-termediary. 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 intermedi-ary in a transaction:(1)shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner; buyer: and(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer un-less authorized in writing to do so by the buyer; and
IF YOU CHOOSE TO HAVE A BROKER REPRESENT YOU:You should enter into a written agreement with the bro-ker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and re-sponsibilities of the broker, you should resolve those questions before proceeding.
Date
DISCLAIMERBROKERAGE SERVICES
DB2RE | 20
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FERGUSON VILLAGE9888 FERGUSON ROADDALLAS, TEXAS 75228
