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1 | P a g e
4000 Paige Road, The Colony, TX
$1,650,000
ALL SHOWINGS MUST BE SCHEDULED THROUGH THE LISTING AGENT:
Jan Blanchard(214) 317-0759
5057 KELLER SPRINGS ROADSUITE 300ADDISON, TX 75001O 469.718.5523www.blanchardproperties.com
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CONFIDENTIALITY AND DISCLAIMER STATEMENT
The material contained in this document is confidential, furnished solely for consideringan investment in the property located at 4000 Paige Road, The Colony, Texas and is notto be copied and/or used for any purpose or made available to any other person withoutthe express written consent of Blanchard Properties, Inc. In accepting this, the recipientagrees to keep all material contained herein confidential.
Although the Broker has used reasonable care in obtaining data and making estimatesand projections based on that data, this material is submitted without representation orwarranty. Generally, a substantial portion of information must be obtained from sourcesother than the Broker’s actual knowledge and not all sources can be absolutely confirmed.Neither Jan Blanchard nor Blanchard Properties, Inc. is responsible for any misstatementof facts, errors or omissions. No representation is made as to the value of the subjectproperty as a possible investment. The information contained herein is presented forinformational purposes only, preliminary to any investment decision. Any personintending to rely upon the information herein is hereby advised that said informationshould be independently verified. The Broker urges you to consult your business, tax andlegal advisors before making a final determination.
All information is subject to change by the owner as to price or terms, to prior sale orlease, to withdrawal of the property from the market and to other events beyond thecontrol of the Broker. Any sale is subject to the sole and unrestricted approval of Seller,and Seller shall be under no obligation to any party until such time as Seller and any othernecessary parties have executed a contract of sale containing terms and conditionsacceptable to Seller and such obligations of Seller shall only be those in such contract ofsale.
Notwithstanding any obligation which may be implied under applicable law to the contrary,Purchaser acknowledges that Purchaser is purchasing the property in as-is, where-iscondition with all faults as of the closing and specifically and expressed without anywarranties, representations or guaranties, either expressed or implied.
All property showings are by appointment only andmust be scheduled through Blanchard Properties, Inc.
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TABLE OF CONTENTS
CONFIDENTIALITY AND DISCLAIMER 2
PROPERTY OVERVIEW 4
TENANT OVERVIEW 5
INVESTMENT OVERVIEW 6
PROPERTY PHOTOS 9
PAIGE ROAD / SH 121 AERIAL 12
SITE PLAN 13
SITE SURVEY 14
ENVIRONMENTAL SUMMARY 15
MAJOR TRACTS AND ZONING AERIAL 18
TRAFFIC COUNT MAP 19
THE COLONY, TEXAS RETAIL TRADE AREA MAPS 20
AREA AND REGIONAL MAPS 21
INFORMATION ABOUT THE COLONY, TEXAS 22
DEMOGRAPHIC REPORT 25
RECENT NEWS RELEASE SUMMARIES 27
INFORMATION ABOUT BROKERAGE SERVICES 28
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PROPERTY OVERVIEW
LOCATION: 4000 Paige Road, The Colony, Texas 75056
Price $1,650,000
Cap Rate 5.76% (blended cap rate for base term of lease)
Rentable Square Feet 5,541 per survey
Price Per SF $297.98
Year Built 1998 – complete remodel 2017 including new HVAC units
Lot Size 37,023 SF or .85 Acre per survey
Type of Ownership Fee Simple
LEASE SCHEDULE (Lease w/Personal Guarantee From Tenant Franchisee):
Taxes Tenant Responsibility
Insurance Tenant Responsibility
Structure Tenant Responsibility
Roof Landlord Responsibility through primary term only
FINANCING SUMMARY:
Purchaser to pay all cash or obtain new financing at market terms.
BASE TERM MONTHLY ANNUALLY PER SF
Months 1 - 12 7,618.88$ 91,426.56$ 16.50$
Months 13 - 24 7,771.25$ 93,255.00$ 16.83$
Months 25 - 36 7,928.25$ 95,139.00$ 17.17$
Months 37 - 48 8,085.25$ 97,023.00$ 17.51$
Months 49 - 60 8,246.86$ 98,962.32$ 17.86$
FIRST OPTION PERIOD
Months 61 - 72 8,413.09$ 100,957.08$ 18.22$
Months 73 - 84 8,579.32$ 102,951.84$ 18.58$
Months 85 - 96 8,750.16$ 105,001.92$ 18.95$
Months 97 - 108 8,925.63$ 107,107.56$ 19.33$
Months 109 - 120 9,105.71$ 109,268.52$ 19.72$
SECOND OPTION PERIOD
Market rate plus two percent (2%) increases per year on the anniversary of the rent
commencement date throughout the second five (5) year option.
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TENANT OVERVIEW
About Pappy’s
History
In April 2002, Kim Whiting and Bonnie Allen developed the concept of superior pet carephilosophy which became Pappy’s Pet Lodge. An architect and contractor were engagedto build the first Pappy’s Pet Lodge and was opened for business in 58 days. The level ofcare was immediately evident with a sold-out lodge during the very first weekend inbusiness, and Pappy’s Pet Lodge has grown successfully by maintaining this well-regarded standard of service.
Soon after opening, Pappy’s was recognized as a leader in pet care and in the community.The recognition and awards in pet care received by Pappy’s Pet Lodge has driven theirgrowth to 5 successful locations serving the Dallas Ft/ Worth Metroplex.Pappy’s has been honored with awards from the Richardson Chamber of Commerce,Plano Chamber of Commerce, Best of D Magazine, Living Magazine, Top 10 Companiesin Collin County, Plano Star Courier, and Enterprise Banks Celebration of EnterpriseAward which lead to a growing satisfied customer base of over 10,000 pet families.Pappy’s Pet Lodge is proud to have been featured on Fox TVs “Renovate My Family”with Dr. Phil’s son Jay McGraw, “Sheer Dallas”, and NBC Channel 5 “Home and Lifestyle”TV show.
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INVESTMENT OVERVIEW
Investment Highlights
Directly across from the new Nebraska Furniture Mart’s 433 acre mixed-use development,
which includes 560,000 SF of retail and a 1.3 million SF distribution Center
Located at a major highway off-ramp with 40’ plylon signage visible from Sam Rayburn
Tollway with exposure to 230,000 cars daily
5,541 SF freestanding building located on the NEQ of State Hwy 121 (Sam Rayburn
Tollway) and Paige Road in front of Home Depot
Growing community with strong economic development initiatives
Nebraska Furniture is projected to generate 8-10 million visitors annually and have over
12,000 employees
Near Toyota’s new corporate headquarters and Legacy Business Park, with a daytime
population of 50,000
This location is strategically located next to Home Depot and Wendy’s on a hard corner
intersection of State Highway 121 and Paige Road in The Colony, Texas. The property lies
directly off the Sam Rayburn Tollway at a major off ramp. This corner serves Home Depot,
Wendy’s, Fast Fuel, Walgreen’s, Holiday Inn, Budget Suites, Subway, Tony’s Pizza and the Tan
Factory. Just to the north, at the intersection of Memorial and Paige, there is the Hawaiian Falls
Waterpark and a five-star community sports complex.
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Stretching across 100 acres, this massive new Texas-sized home furnishings store is located off
Sam Rayburn Tollway/Texas 121 in between Plano Parkway and W Spring Creek Parkway in the
City by the Lake, The Colony, Texas. Nebraska Furniture Mart’s 1.3 million square foot
distribution center and 560,000 square foot showroom officially opened 2015.
The plan for mammoth furniture, flooring, appliance and electronics store is for the furniture store
to anchor what’s expected to be a mixed-use development that will cost $1.5 billion to build on
433 acres along State Highway 121 in The Colony.
The project is being developed by Nebraska Furniture Mart, which is a Berkshire Hathaway Co.
It is only the fourth location for the company. The Colony approved initial plans for the project in
2011.
Store officials have made a bold prediction that it will be the highest-volume furniture store in the
U.S. Its other stores in Nebraska and Kansas take in average annual sales of $400 million each.
The Colony city officials predict that the facility will generate $195 billion in economic activity and
create 20,426 jobs over the first 40 years.
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Grandscape Development - Vision on a Grand Scale
A city within a city, Grandscape will stretch across 400+ acres featuring more than 3 million squarefeet of retail, entertainment, dining, residential, office and attractions. Developed by BerkshireHathaway affiliate Nebraska Furniture Mart, the vision is clear, create the best retail andentertainment destination in the country. As Grandscape continues to bring its vision to life,shoppers can enjoy the businesses that are already open, with more coming through 2020.
Building on 400+ acres, Grandscape is virtually a city within the center of the Dallas/Fort Worthmarket, an epicenter of growth, in the 4th largest metropolitan area in the nation.
Grandscape is attracting the biggest, boldest and brightest names in retail, including NebraskaFurniture Mart of Texas, a retail powerhouse that by itself will attract a projected 8 million shoppersa year. Scheels is a 300,000-square-foot sporting goods and fashion retailer that will draw 4million of their own visitors and Galaxy Theatres anchoring our entertainment district.
Plans for Grandscape include more than just one-of-a-kind retail:
Resort hotel and spa Unique restaurants An outdoor amphitheater And more
From its perfect location in The Colony, Texas, with more than a mile of frontage on the SamRayburn Tollway (SH121) and three interchanges, it will be easy to see the grandeur ofGrandscape – and easy to get here.
That’s good, because they are preparing to welcome more than a million of visitors a year, fromnear and far – up to hundreds of miles away.
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PROPERTY PHOTOS
Property front view with newly installed fence
Property access from Paige Road Property back of building
Fast Fuel/Property/Wendy’s NE quadrant View of Property from south side of Highway 121
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40’ pylon sign at intersection Paige Road and Highway 121
7 – 11 NW quadrant of intersection
Walgreen’s NW quadrant of intersection Holiday Inn across from Property
Home Depot directly behind Property
Property
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PAIGE ROAD / SH 121 AERIAL MAP
(yellow circle denotes property location)
5 Star Complex
Water Park
Holiday Inn
GRANDSCAPE DEVELOPMENT
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EXISTING40’ PYLON SIGN
SITE PLAN w/SIGNAGE
40 FOOT PYLON SIGN:
Visible from the Sam Rayburn Tollway
Owned by the Property
20 FOOT POLE SIGN:
Located at the off ramp of the Sam Rayburn Tollway
Owned by Fast Fuel
EXISTING20’ POLE SIGN
4000 Paige RoadPappy’s Pet Lodge
5301 SH 121Fast Fuel
Wendy’s
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MAJOR TRACTS AND ZONING AERIAL
Property
LEGEND FOR MAJOR TRACTS AND ZONING
1. 102 acres bordered on the west by Standridge Drive and on the south by Memorial Drive. Zoned PD 19.
2. 13.2 acres bordered on the west by Standridge Drive, on the north by Memorial Drive and on the south by SH 121. Zoned
Business Park.
3. 8.683 acres with access from SH 121 east of Main Street and west of Blair Oaks. Zoned PD 11.
4. 5.042 acres on SH 121 south of Memorial and east of Topgolf. Zoned Business Park.
5. 22 acres + on SH 121 east of Paige and the Home Depot. Zoned PD 16.
6. 30 acres + on the northwest corner of SH121 and S. Colony Boulevard. Zoned PD 16
7. 17 acres + on the northeast corner of SH 121 and S. Colony Boulevard. Zoned PD 16.
8. Parcels totaling 12.1087 acres on SH 121 and east Morning Star. Zoned PD 16.
9. 433 acres in the Grandscape development located south of SH 121 between Plano Parkway and West Spring Creek
Parkway. Planned mix-use development consisting of retail, entertainment, office, hospitality, dining, including
destinations retailer Nebraska Furniture Mart of Texas. Zoned PD 25.
10. 530 acres + in Austin Ranch sough of SH 121 along Plano Parkway and Windhaven Parkway. Mixture of uses includes
corporate office development, retail, and multifamily areas. Zoned PD 22.
11. 81.72 acres south of SH 121 along Plano Parkway in Austin Ranch adjacent to Rave. Zoned PD 10.
12. 150 acres + in The Tribute Lakeside Golf & Resort development. Zoned PD 18 and PD 23.
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THE COLONY, TEXAS
The Colony is a progressive, family-focused community located on State Highway 121, just 20
minutes north of downtown Dallas. Bounding the southeastern shore of Lake Lewisville,
Interstate Highway 35E is less than 10 minutes away. The Dallas North Tollway is just five
minutes east, and DFW airport is less than a fifteen-minute drive, making the Colony a prime
site for corporate development, distribution centers, and retail.
The Colony, City by the Lake, is one of the best kept secrets in the heart of North Texas. Best
known for strikingly beautiful views of Lewisville Lake, The Colony extends 23 miles along its
eastern shoreline. Residents and visitors alike immerse themselves in hundreds of acres of
wildlife as they enjoy a myriad of recreational opportunities including camping, fishing,
swimming, boating, hiking, picnicking and cycling.
While some retreat, many compete at The Tribute, Stewart Peninsula and The Old American,
our prestigious golf courses; The Colony Five Star, a state of the art athletic complex; and Blue
Sky Sports Center, a 43,000 square foot indoor soccer facility. The Colony's commitment to find
creative and resourceful ways to enhance sports and the quality of life for the entire
community was demonstrated when named #1 Sportstown for the State of Texas by Sports
Illustrated Magazine and the National Parks and Recreation Association. Their efforts are
further exemplified by all the sports venues which host local athletic leagues and regional, state
and national tournaments. In addition, a full-service marina recently opened at Hidden Cove
Park and features slips, rentals and a ship store.
Another family favorite is Hawaiian Falls – a water park that rivals any in North Texas. The
Colony also features 28 parks with over 3,000 acres, one of the highest acres of parks per capita
in the state. Creative agreements with the city and U.S. Army Corps of Engineers led to an
award-winning trail system that winds through acres of wildlife management areas along the
shoreline of Lewisville Lake.
Incorporated in 1977, the city’s population has steadily grown from 26,531 in 2000 to an
estimated 41,000 today. The Colony is in Denton County, has a land area of 15.7 square miles
and is surrounded by Lewisville, Grapevine, Carrollton, Denton, Plano and Frisco.
The Colony is in the highly regarded school districts of Lewisville and Little Elm. The Colony is
home to six elementary schools, two middle schools and one high school. Higher education
opportunities are available at numerous colleges and universities in North Texas, including the
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University of North Texas, Southern Methodist University, Texas Women’s University, North
Central Texas College, University of Texas at Dallas and Collin College.
COMMUNITY HIGHLIGHTS:
Located approximately 20 minutes north of downtown Dallas
Situated at State Highway 121/FM 423
Traffic counts exceed 104,000 cars per day on State Highway 121 and 41,000 on FM 423
Community population of 42,408
Secondary Retail Trade Area population of 735,673
Very high incomes
Highly-educated population base
Great development sites along State Highway 121
The Colony is a reasonably short time away from every major regional destination:
DFW Airport: 15 min.
Downtown Dallas: 20 min.
Tollway: 5 min.
I35E: 10 min.
Legacy Corporate Office Park: 5 min.
Galleria: 15 min.
Downtown Fort Worth: 35 min.
The Ballpark in Arlington: 35 min.
Cowboy Stadium: 35 min.
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Five Star Complex
Five Star was a vision that began in 1997 when the first Parks Master Plan wascompleted. The possibility of having a multi-sport athletic complex in the communityhelped to get the 4A/4B sales tax proposition passed by voters. The cost was $7.5million and attracts thousands of visitors each year. Construction began in February2002 and was completed in September 2003.
Five Star is built on an 80-acre tract of land. Amenities include:• 4-full size soccer fields• Shade structures adjacent to every playing field• 2-junior soccer fields• Built-in spectator seating on every baseball field• 2-football fields with scoreboards• 3-star shaped pavilions with picnic tables• 5-baseball fields with scoreboard• 2-softball field• 2 concession / restroom facilities• 1.3-mile lighted & paved walking trail• 2 Playground areas• Veteran's Memorial
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DEMOGRAPHIC REPORT
Incorporated: 1977
Form of Government: Council Manager with a Mayor and six council members
Elevation: 546 feet
County: Denton
Land Area: 13.7 square miles
Zip Code: 75056
Distance from DFW airport: 18 miles
Population: 42,408
Five-mile radius: 73,000
Eight-mile radius: 363,000
Nearest city with pop. 50,000+: Carrollton, TX (7.0 miles, pop 133,351)
Nearest city with pop. 200,000+: Plano, TX (4.0 miles, pop. 286,057)
Nearest city with pop. 1,000,000+: Dallas, TX (21.2 miles, pop. 1,318,000)
Nearest cities:
Plano, TX (4.0 miles)
Little Elm, TX (5.9 miles)
Frisco, TX (6.0 miles)
Carrollton, TX (7.0 miles)
Lewisville, TX (9.1 miles)
Addison, TX (9.8 miles)
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Average Household Income: $110,205
Est. Median Household Income: $84,657
Average Age: 36.3
Median Age: 35.8
Education: 62% of the population is college-educated (51% bachelor or graduate degree).
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RECENT NEWS RELEASE SUMMARIES
The Colony Economic Development Corporation Receives StateAwardJune 19, 2017/in Business /
The Colony EDC received the 2016 Economic Excellence Award from the Texas EconomicDevelopment Council for the ninth consecutive year during the TEDC Mid-Year Conference heldJune 7-9 in Plano, Texas. The Colony is one of only 33 organizations statewide to earn thishonor this year.
Galaxy Theatres Announces its stake in the DFW market, JoinsGrandscapeJanuary 26, 2017/in Business /
Grandscape and Galaxy Theatres are thrilled to announce the luxury theatre operator will bejoining the $1.5 billion development in The Colony, Texas. They are set to break ground thisyear on their 85,000+ sf, 16-screen venue with a projected open date of Spring 2019. Keepingto their vision the development team at Grandscape is excited about the unique offering thatGalaxy has and that this will be the first location in the DFW metro.
The Colony Tops the List of Healthiest Housing Markets in theU.S.October 17, 2016/in Lifestyle /
The Colony ranked among the Top 5 Healthiest Housing Markets in Texas,and placed among the Top 10 Housing Marketing in the U.S., according to anew study.
Five of the 10 healthiest U.S. housing markets are in North Texas, and all of Texas’ top homemarkets are also in the Dallas-Fort Worth area, according to the report by SmartAsset.com.
The New York-based personal finance technology firm measured home housing markets acrossthe country for factors including homeowner equity, the number of years owners stay in aproperty, the average time to sell a house and affordability.