Mount Houston Square - Houston, TX

MOUNT HOUSTON SQUARE

HOUSTON, TX


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2This 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 of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 Vitorino Group

PRICING & FINANCIAL ANALYSIS

Mount Houston Square

Offering Summary

Price $18,945,000

Cap Rate 7.50%

Net Operating Income $1,420,795

Price PSF $108.17

Occupancy 96.4%

Year Built 1960

Gross Leasable Area 175,136 SF

Lot Size 12.48 Acres

11741 Eastex FreewayHouston, TX 77039


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PRICING & FINANCIAL ANALYSIS

expenSeS Current pSfReal Estate Taxes $221,504 $1.26

Insurance $63,801 $0.36

CAM

R&M - Exterior Repairs $1,153 $0.01

R&M - HVAC $9,800 $0.06

R&M - Lighting $8,076 $0.05

R&M - Paving $1,949 $0.01

R&M - Plumbing $664 $0.00

R&M - Roof $17,790 $0.10

R&M - Signage $647 $0.00

R&M - Trash $162 $0.00

Pest Control $730 $0.00

Landscaping $6,189 $0.04

Porter $5,196 $0.03

Parking Lot Sweeping $15,926 $0.09

Security $78,247 $0.45

Pressure Cleaning $8,285 $0.05

Fire Safety $512 $0.00

Electricity $32,117 $0.18

Water $115,185 $0.66

Water - Direct Billing ($58,988) ($0.34)

Total CAM $243,640 $1.39

Management Fee (% of GPI) 3.00% $60,301 $0.34

TOTAL EXPENSES $589,246 $3.36

inCOme & expenSeS Current pSf

Base Rent - Occupied Space 96.4% $1,519,982 $8.68

Base Rent - Lease Up Space $0 $0.00

Signage Rental Income $2,400 -

% Rent $18,173

GROSS POTENTAL RENT $1,540,555 $8.80

Exp. Reimb.

Real Estate Taxes $189,105 $1.08

Insurance $53,365 $0.30

CAM $181,817 $1.04

Mgmt. Fee $45,199 $0.26

Total Exp. Reimb. $469,486 $2.68

GROSS POTENTIAL INCOME $2,010,041 $11.48

Vacancy Factor 0.00% $0 $0.00

EFFECTIVE GROSS INCOME $2,010,041 $11.48

Expenses

Real Estate Taxes ($221,504) ($1.26)

Insurance ($63,801) ($0.36)

CAM ($243,640) ($1.39)

Mgmt. Fee (% of GPI) 3.00% ($60,301) ($0.34)

Total Expenses ($589,246) ($3.36)

NET OPERATING INCOME $1,420,795

NOTE: Annual Rent is based on a 12-Month forward commencing on October 2016 and includes any tenant rent escalations during such time.


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RENT ROLL

Suite tenant Sq ft% Of Sq ft

Start endCurrent

annual rentpSf eSCalatiOn

date

eSCalatiOn amOunt

OptiOnSleaSe

type

1 Manny's Mexican Seafood Grill 6,585 3.8% 3/7/2014 3/7/2019 $98,775 $15.00 - - 2 x 5 NNN

2 Fallas Paredes 35,309 20.2% 2/1/2006 1/31/2023 $188,903 $5.35 - - - NNN

3 FAMSA, Inc. 31,471 18.0% 7/31/2009 7/31/2024 $180,958 $5.75 7/1/2016 $6.00 3 x 5 NNN

3B Head Start 12,213 7.0% 7/18/2003 7/31/2020 $115,535 $9.46 - - - NNN

4-6 Mount Houston Medical 3,331 1.9% 11/1/2001 10/31/2017 $36,741 $11.03 11/1/2016 $11.47 - NNN

7 Platinum Image 700 0.4% 7/31/2007 7/31/2017 $7,700 $11.00 - - 1 x 5 NNN

8 Boost Mobile 1,068 0.6% 2/1/2017 1/31/2022 $21,360 $20.00 - - 1 x 5 NNN

10 Subway 1,357 0.8% 10/21/2008 3/31/2019 $21,373 $15.75 - - 1 X 5 NNN

10B Wireless Hook Up 1,357 0.8% 7/10/2015 7/9/2020 $27,140 $20.00 - - - NNN

12 Cielo Dental 2,700 1.5% 2/13/2014 2/28/2024 $40,500 $15.00 - - 2 x 5 NNN

12A Sun Bank 1,772 1.0% 2/18/2014 2/28/2019 $30,124 $17.00 - - 1 x 5 NNN

13 Slick Nails 1,748 1.0% 1/1/2012 12/31/2017 $17,759 $10.16 - - - NNN

14, 14B Shoe Show 6,021 3.4% 7/1/2005 11/30/2020 $51,118 $8.49 - - 3 x 5 NNN

15 CitiTrends 11,024 6.3% 3/15/2004 3/31/2020 $77,712 $7.05 - - 1 x 5 NNN

15A Harris County Hospital District 8,000 4.6% 2/1/2003 1/31/2018 $70,000 $8.75 - - 1 x 5 NNN

16 Cash America Pawn 5,913 3.4% 5/15/1998 6/30/2018 $59,130 $10.00 - - - NNN

17 Family Dollar 9,085 5.2% 12/1/2000 12/31/2025 $66,550 $7.33 - - 2 x 10 NNN

18 Cici's 3,600 2.1% 8/10/2011 8/9/2021 $59,400 $16.50 8/10/2021 $18.15 2 x 5 NNN

19 Dairy Queen 2,520 1.4% 9/1/2002 8/31/2027 $47,880 $19.00 - - 1 x 10 NNN

20 Luby's 9,100 5.2% 5/1/1998 4/30/2018 $79,860 $8.78 - - 2 x 5 NNN

21 Walgreen's 13,905 7.9% 10/4/1997 10/31/2027 $187,718 $13.50 - - 7 x 5 NNN

4841D Watermill Express 0 10/12/2014 10/31/2019 $9,600 - - - - NNN

ATM Chase Bank ATM 0 7/15/2014 7/14/2019 $14,400 - - - 2 x 5 NNN

9 Vacant 3,041 1.7% - - - - - - - -

14A Vacant 3,316 1.9% - - - - - - - -

Occupied 168,779 96.4% $1,510,236

Vacant 6,357 3.6%

Total 175,136 100.0%


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LEASE NOTES

tenant nOteS

(1) Fallas Paredes Base Year Stops (CAM-$1.56psf; Tax-$.69psf; Ins-$.23psf); No Admin. Fee reimbursed

(2) Head Start 5% CAM cap excluding utilities & security (2016 cap including exclusions=$10,484.65)

(3) Platinum Image 5% CAM cap

(4) Subway Water submetered

(5) Wireless Hook Up 3% CAM cap on controllables; Mgmt. Fee/Admin. capped at the lesser of actual Mgmt. Fee or 10% Admin.

(6) Shoe Show 10% Admin. plus Mgmt. Fee

(7) CitiTrends No Mgmt. Fee; 15% Admin Fee; 10% CAM cap excluding utilities

(8) Harris County Hospital Fixed annual NNN caps per the lease (was not applicable for 2015)

(9) Family Dollar No Mgmt. Fee or Admin.; 5% CAM cap on controllables

(10) Dairy Queen Water submetered

(12) Walgreens Excludes Mgmt. Fee & Admin.; Annual Tax & Ins. Reconciliations; CAM excludes window washing & roof


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TENANT INFORMATION

National Stores Inc., is a family-owned company headquartered in the Harbor Gateway area of Los Angeles, California with more than 350 locations in twenty-two states and Puerto Rico. National Stores Inc. does business as: Fallas, Fallas Paredes, Fallas Discount Stores, Factory 2-U, Conway, CW Price, Falas (spelled with single “l” in Puerto Rico) and Anna’s Linen’s by Fallas, and offer brand name and private label clothing for men, ladies, boys, girls, juniors, infants and toddlers along with lingerie, shoes and household items. Fallas Paredes caters to the Hispanic American community.

tenant Overview

Tenant National Stores Inc.

Ownership Private

Years In Business 53 Years

Number of Locations 350+

Headquarters Los Angeles, CA

Website www.fallasstores.net

Grupo Famsa is a retail company engaged in the purchase and sale of household appliances, electronic products, furniture, clothing and other consumer products in Mexico and United States. Today the company has 421 stores in 78 Mexican cities and 37 cities in the United States. The company has its headquarters in Monterrey, Mexico. It also manufactures furniture and provides banking and credit services, including personal car financing through its Banco Ahorro Famsa. The bank has 277 banking branches within its stores in Mexico. In Famsa locations in the United States, customers can order deliveries of goods to locations in the United States and Mexico.

tenant Overview

Tenant Grupo Famsa S.A.B. de C.V.

Ownership Public (BMV: GFAMSA A)


Number of Locations 421+ Mexico, 37+ US

Headquarters Monterrey, Mexico

Website www.grupofamsa.com/en


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TENANT INFORMATION

Subway (stylized as SUBWAY) is an American fast food restaurant franchise that primarily sells submarine sandwiches (subs) and salads. It is owned and operated by Doctor’s Associates Inc. (trademarked as Subway IP Inc.) Subway is one of the fastest growing franchises in the world, with 44,672 restaurants in 111 countries and territories as of March 14, 2016. The United States alone has 27,058 outlets. It is the largest single-brand restaurant chain and the largest restaurant operator in the world

tenant Overview

Tenant Subway

Ownership Private


Number of Locations 44,692+

Headquarters Milford, CT

Website www.subway.com

Citi Trends is an American retail clothing chain. The company opened its first store in Savannah, Georgia in 1958 under the name Allied Department Stores. The company began renaming its stores Citi Trends in 2000, and officially became Citi Trends in 2001. Citi Trends comprises more than 515 stores in 31 states. The chain is known for targeting urban, lower-income customers. Citi Trends has been in the apparel business for over 58 years. On the date of May 2005, Citi Trends had become a publicly traded company on the NASDAQ exchange with the symbol CTRN. The headquarters of Citi Trends is located in Pooler, Georgia. There is also a distribution center in Darlington, South Carolina along with one in Roland, Oklahoma. On February 28, 2005, Citi Trends Inc. went public in an initial public offering of stock worth up to $57.5 million.

tenant Overview

Tenant Citi Trends, Inc.

Ownership Public (NASDAQ:CTRN)



Headquarters Savannah, GA

Website www.cititrends.net


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TENANT INFORMATION

Cash America International, Inc. provides specialty financial services to individuals in the United States at more than 900 locations in 20 states. We are the largest provider of secured non-recourse loans, commonly referred to as pawn loans, and operate under the brand names Cash America Pawn, Cashland and Cash America SuperPawn. Cash America Pawn also offers short-term cash advances in many of their locations, under the brand names Cash America Payday Advance and Cashland. In addition, check-cashing services are provided through their franchised and company-owned Mr. Payroll check-cashing centers.

tenant Overview

Tenant Cash America International, Inc.

Ownership Public (NYSE: CSH)



Headquarters Fort Worth, TX

Website www.cashamerica.com

The Walgreen Company (Walgreens, or sometimes archaically Walgreen) is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health & wellness products, health information and photo services. As of February 2016, the company operated 8,177 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois. In 2014, the company agreed to purchase the remaining 55% of Switzerland-based Alliance Boots that it did not already own to form a global business. Under the terms of the purchase, the two companies merged to form a new holding company, Walgreens Boots Alliance Inc., on December 31, 2014.

tenant Overview

Tenant Walgreen Company

Ownership Public (Nasdaq: WBA)



Headquarters Deerfield, IL

Website www.walgreens.com


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TENANT INFORMATION

For more than 55 years, Family Dollar has been providing value and convenience to customers in easy-to-shop neighborhood locations. Family Dollar’s mix of name brands, and quality, private brand merchandise appeals to shoppers in more than 8,200 stores in rural and urban settings across 46 states. Helping families save on the items they need with everyday low prices creates a strong bond with customers who refer to their neighborhood store as “my Family Dollar.” Family Dollar, headquartered in Matthews, North Carolina, is a wholly-owned subsidiary of Dollar Tree, Inc. of Chesapeake, Virginia.

tenant Overview

Tenant Family Dollar Stores

Ownership Public (NASDAQ: DLTR)



Headquarters Matthews, NC

Website www.familydollar.com

Coppell, Texas-based CiCi’s Pizza opened its first restaurant in Plano, Texas, in 1985 and has nearly 500 restaurants in 34 states. Known for its endless pizza, pasta, salad, soup and dessert buffet, CiCi’s won the Technomic 2014 Consumer’s Choice award for best kid-friendly quick service restaurant, and has been listed by Zagat and Parents magazine as a top family-friendly restaurant. CiCi’s was recognized by G.I. Jobs as a Military Friendly Franchise®, and Entrepreneur named CiCi’s to its Franchise 500 list.

tenant Overview

Tenant Cicis

Ownership Private



Headquarters Plano, TX

Website www.cicispizza.com


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TENANT INFORMATION

Luby’s, Inc. (NYSE: LUB) operates restaurants under the brands Luby’s Cafeteria, Fuddruckers and Cheeseburger in Paradise and provides food service management through its Luby’s Culinary Services division. The company-operated restaurants include 94 Luby’s Cafeterias, 71 Fuddruckers restaurants, eight Cheeseburger in Paradise full service restaurants and bars and one Bob Luby’s Seafood Grill. Its 94 Luby’s Cafeterias are located primarily in Texas. In addition to the 71 company-operated Fuddruckers locations, Luby’s is the franchisor for 107 Fuddruckers franchise locations across the United States (including Puerto Rico), Canada, Mexico, Italy, Chile and the Dominican Republic. Luby’s Culinary Services provides food service management to 25 sites consisting of healthcare, higher education and corporate dining locations.

tenant Overview

Tenant Luby’s, Inc.

Ownership Public (NYSE: LUB)



Headquarters Houston, TX

Website www.lubys.com

International Dairy Queen Inc., (IDQ), based in Minneapolis, Minnesota, is the parent company of American Dairy Queen Corporation. Through its subsidiaries, IDQ develops, licenses and services a system of more than 6,600 locations in the United States, Canada and 28 other countries. IDQ is a subsidiary of Berkshire Hathaway Inc. (Berkshire) which is led by Warren Buffett, the legendary investor and CEO of Berkshire.

tenant Overview

Tenant International Dairy Queen Inc.

Ownership Public (NYSE: BRK.A)



Headquarters Minneapolis, Minnesota

Website www.dairyqueen.com


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INVESTMENT HIGHLIGHTS

• 96% Occupied with History of Strong Occupancy

• Complementary Tenant Mix - Consisting of 86% National/Regional Tenants

• Anchored by FAMSA & Fallas Paredes

• Includes Walgreens, Luby’s, & Dairy Queen Pad Sites

• Low Price/Square Foot - $108 Per Square Foot

• Located Along US Hwy 59 with Traffic Counts in Excess of 84,000 Vehicles per Day - Excellent Highway Visibility

• Dense Infill Location – Population exceeds 208,000 People Within 5 miles

• Located Just 10 Miles North of Downtown Houston

• Houston was Named Forbes’ Fastest Growing City in the United States for 2015

• Houston’s Economy has a Broad Industrial Base in the Energy, Aeronautics, and Technology Industries: Only New York City is Home to More Fortune 500 Headquarters


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AERIAL MAP

HambrickMiddle School

MacArthurHigh

SchoolMacArthurJr High School

EscamilaIntermediate

School

E Mt Houston Rd

Eas

tex

Fw

y (I

-69)


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LOCAL MAP


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REGIONAL MAP


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MARKET SUMMARY

HOUSTON, TX

Houston is the most populous city in Texas, and the fifth most populous city in the United States. With a census- estimated 2013 population of 6.49 million people within a land area of 10,062 square miles, Houston is the largest city in the Southern United States, the seat of Harris County, and fifth-most populated metropolitan area in the United States.

Houston was founded in 1836 on land near the banks of Buffalo Bayou (now known as Allen’s Landing) and incorporated as a city on June 5, 1837. The city was named after former General Sam Houston, who was president of the Republic of Texas and had commanded and won at the Battle of San Jacinto 25 miles (40 km) east of where the city was established. The burgeoning port and railroad industry, combined with oil discovery in 1901, has induced continual surges in the city’s population. In the mid-twentieth century, Houston became the home of the Texas Medical Center— the world’s largest concentration of healthcare and research institutions—and NASA’s Johnson Space Center, where the Mission Control Center is located.

Houston’s economy has a broad industrial base in energy,manufacturing, aeronautics, and transportation. It is also leading in health care sectors and building oilfield equipment; only New York City is home to more Fortune 500 headquarters. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled. Nicknamed the Space City, Houston is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research. The city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is considered to be the most diverse city in Texas and the United States. It is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts.


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DEMOGRAPHIC SUMMARY

PoPulation

HouseHolds

income

Race and etHnicity

Housing

emPloyment

Geography: 5 miles

In the identified area, the current year population is 208,943. The rate of change since 2000 was 12.4%. The five-year projection for the population in the area is 221,887 representing a change of 6.2% from 2015 to 2020. Currently, the population is 50.1% male and 49.9% female. The median age in this area is 28.1, compared to the U.S. median agoe of 37.9.

There are currently 60,117 households in your selected georgraphy. The number of households has changed by 11.2% since 2000. It is estimated that the number of households in your area will be 63,878 five years from now, which represents a change of 6.3% from the current year. The average household size in your area is 3.45 persons.

In 2015, the median household income for your selected georgraphy is $34,093, compare this to the Entire U.S. average, which is currently $53,217. It is estimated that the median household income in your area will be $38,332 five years from now, which represents a change of 12.4% from the current year.

The current year per capita income in your area is $13,801 compare this to the Entire U.S. average, which is $28,597. The current year average household income in your area is $47,297 , compare this to the Entire U.S. average, which is $74,699.

The current year racial makeup of your selected area is as follows: 43.5% White, 27.0% Black, 0.8% Native American and 1.0% Asian/Pacific Islander. Compare these to the Entire U.S. 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 64.1% of the current year population in your selected area. Compare this to the Entire U.S. average of 17.6%.

In 2015, there were 34,116 owner occupied housing units in your area and there were 26,002 renter occupied housing units in your area. Median home value in the area is $108,205, compared to a median home value of $200,006 for the U.S.

In 2015, there are 82,143 employees in your selected area, this is also known as the daytime population. Currently, 37.7% of employees are employed in white-collar occupations in this geography, and 41.9% are employed in blue-collar occupations. In 2015, unemployment in this area is 6.1%.

Demographic data © 2016 esri


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DEMOGRAPHIC STATISTICS

traffiC COuntS

inCOme 1 mile 3 mileS 5 mileS

$ 0 - $14,999 23.0% 19.2% 19.9%

$ 15,000 - $24,999 14.0% 15.7% 15.7%

$ 25,000 - $34,999 18.0% 16.0% 15.4%

$ 35,000 - $49,999 14.7% 16.1% 14.9%

$ 50,000 - $74,999 18.3% 17.8% 17.8%

$ 75,000 - $99,999 7.2% 8.7% 7.8%

$100,000 - $149,999 3.8% 5.2% 5.4%

$150,000 - $199,999 0.9% 0.8% 1.4%

$200,000 + 0.1% 0.4% 1.6%

2015 Median Household Income $31,484 $34,188 $34,093

2015 Per Capita Income $10,797 $12,339 $13,801

2015 Average Household Income $40,383 $43,598 $47,297

pOpulatiOn 1 mile 3 mileS 5 mileS

2000 Population 10,275 82,400 185,841

2010 Population 10,311 81,419 199,754

2015 Population 10,712 84,317 208,943

2020 Population 11,358 89,039 221,887

HOuSeHOldS 1 mile 3 mileS 5 mileS

2000 Households 2,827 23,557 54,103

2010 Households 2,745 22,911 57,587

2015 Households 2,853 23,638 60,117

2020 Households 3,031 24,941 63,878

2015 Daytime Population 4,182 32,583 82,143

2015 Average Household Size 3.74 3.55 3.45

2010 Owner Occupied Housing Units 48.0% 58.1% 54.1%

2010 Renter Occupied Housing Units 38.0% 32.2% 36.0%

2010 Vacant 14.0% 9.6% 9.9%



2015 Vacant 14.1% 9.4% 9.5%



2020 Vacant 14.1% 9.3% 9.2% 10,810

84,591

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Vitorino Group and it should not be made available to any other person or entity without the written consent of Vitorino Group. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to Vitorino Group.

This offering memorandum has been prepared to provide summary, unverified financial and physical 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. Vitorino Group 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, PCBs or asbestos, the compliance with local, 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 offering memorandum has been obtained from sources we believe to be reliable; however, Vitorino Group has not verified, and will not verify, any of the information contained herein, nor has Vitorino Group 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE VITORINO GROUP AGENT FOR MORE DETAILS.

CONFIDENTIALITY AGREEMENT

Vitorino Group hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, the Vitorino Group has not and will not verify any of this information, nor has the Vitorino Group conducted any investigation regarding these matters. The Vitorino Group makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. The Vitorino Group expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this 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, Buyer 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 Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release The Vitorino Group and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

Net Lease Disclaimer

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

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.

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Information About Brokerage Services

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:

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 you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.

(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;(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.

exclusively listed

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Mount Houston Square - Houston, TX