net leased portfolio · 2017-11-03 · diversified three asset portfolio featuring 1 stnl, 1 ground...

Diversified THREE ASSET PORTFOLIO FEATURING 1 STNL, 1 Ground Lease and 1 multi-tenant asset22911 Lyden Drive A, Estero FL 33928

9540 Colerain Avenue, Cincinnati, OH 45251

13327 Tomball Parkway, Houston, TX 77086

net leased portfolio FLORIDA, TEXAS, AND OHIO

www.CapitalPacific.com

https://www.google.com/maps/place/22911+Lyden+Dr,+Estero,+FL+33928/data=!4m2!3m1!1s0x88db170e2bc20299:0xf7c6a6c1a17ae3b8?sa=X&ved=0ahUKEwiBgKm0p8_UAhVKz2MKHZczBDEQ8gEIJzAA

https://www.google.com/maps/place/9540+Colerain+Ave,+Cincinnati,+OH+45251/@39.2452187,-84.5968781,17z/data=!3m1!4b1!4m5!3m4!1s0x88404a6524f5979d:0xb9f219d28aa2c66e!8m2!3d39.2452187!4d-84.5946894


https://www.google.com/maps/place/13327+Tomball+Pkwy,+Houston,+TX+77086/@29.9150462,-95.4894257,17z/data=!4m5!3m4!1s0x8640ced08a0585c7:0x8456f50ebfe92a2c!8m2!3d29.9150462!4d-95.487237

LOAN AMOUNT . . . . . . . . . $5,944,917LOAN TO VALUE . . . . . . . . 67%TOTAL RENTALBLE SF . . . 19,095 SFAVG. TERM REMAINING . ~8 .75 years

PRICE: $8,835,000CAP: 6.33%

RARE PORTFOLIO OPPORTUNITY: THREE NET LEASED ASSETS LOCATED IN STRONG RETAIL MARKETS ACROSS THE COUNTRY

This offering includes three long term net leased properties in Texas, Florida, and Ohio and represents the opportunity for an investor to acquire a portfolio with good diversification from day one of ownership . Two of the three properties are located in tax free states, further bolstering the appeal of the portfolio .

The portfolio consists of an IHOP ground lease, a build-to-suit Brident Dental and a two-tenant strip with Mattress Firm and Aspen Dental . The property is being offered for sale with attractive in place financing that must be assumed .

The rare combination of long term leases, diverse tenancy and quality markets make this an attractive opportunity for an investor .

investment highlights

Listing Team Contact Info

Capital Pacific collaborates . Click Here to meet the rest of our San Francisco team .

chris kostaneckick@capitalpacific .com | (415) 274-2701CA BRE# 01002010

zeb ripplezripple@capitalpacific .com | (415) 274-2702CA BRE# 01242540

chris peterscpeters@capitalpacific .com | (415) 274-2703CA BRE# 01339983

jack navarrajnavarra@capitalpacific .com | (415) 274-2705CA BRE# 01909630

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 of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Listed in Conjunction with:

Andrew T . Knight, New England Commercial Brokerage | Andrew@NECBrokerage .com | (860) 648-1600Steve Sieling, Azur Commercial Capital, LLC | steve@azurcc .com | 214-888-8262Tim Albro, Crest Commercial Realty | 937-222-1600 Ext . 104 | Tim .albro@crestrealtyohio .com

John Andreinijandreini@capitalpacific .com | (415) 274-2715CA BRE# 01440360

GREEN HERMITAGE PORTFOLIO | 2

http://www.capitalpacific.com/OurPeople.aspx


income & expense

Current

Current Financing (Must Be Assumed)Price: $8,835,000 Estimated $5,944,917

Capitalization Rate: 6.33% Loan to Value 67%

Price Per Square Foot: $462.69 Interest Rate 4.54% / 4.715%Down Payment 33% $2,890,083 Amortization 30Loan Amount 67% $5,944,917 Term 10Total Leased (SF)*: 100 .00% 19,095 Net Operat- $559,044

Total Vacant (SF): 0 .00% 0 Debt Service ($385,632)Total Rentable Area (SF): 100 .00% 19,095 Pre-Tax Cash $173,412

INCOME Per Square Debt Cover- 1.45

Scheduled Rent $29 .63 $565,800

Brident Admin Fee $0 .25 $1,125 Pre-Tax 6.00%

EFFECTIVE GROSS INCOME $566,925 Principal Pay $110,462

Total Return $283,874

EXPENSE Yield 9.82%

Maintenance Expenses NNNUtility Expenses NNNInsurance NNNProperty Taxes NNNCapEx Reserve** ($0 .15) ($1,905)Non-recapture Management Fee (2 .0%)*** ($0 .31) ($5,976)

TOTAL OPERATING EXPENSES ($0.41) ($7,881)

NET OPERATING INCOME $559,044

* Includes square footage of the IHOP building (ground lease)** Excludes ground lease square footage*** Management fee exclusive to the two tenant asset (Estero)



portfolio rent roll

TENANT INFO LEASE TERMS RENT SUMMARY

Tenant Property Sq. Ft. Percent of GLA Term Monthly Rent

Annual Rent Rent/FT

Mattress Firm Estero 5,000 26 .18% Oct-14 10/31/19 $15,833 $190,000 $38 .00NN 11/1/2019 10/31/24 $17,417 $209,000 $41 .80

11/1/2024 10/31/25 $19,158 $229,900 $45 .98 $158,333 .33Option 1 11/1/2025 10/31/30 $19,158 $229,900 $45 .98 $34,833 .33Option 2 11/1/2030 10/31/35 $21,075 $252,900 $50 .58

Option 3 11/01/35 10/31/40 $23,183 $278,200 $55 .64

Aspen Dental Estero 3,200 16 .76% Nov-14 11/30/19 $9,067 $108,800 $34 .00

NN 12/01/19 11/30/24 $10,880 $119,680 $37 .40 $99,733 .33

Option 1 12/01/24 11/30/29 $11,968 $131,648 $41 .14 $10,880

Oprion 2 12/01/29 11/30/34 $13,165 $144,813 $45 .25

Option 3 12/01/34 11/30/39 $14,481 $159,294 $49 .78

Brident Dental Houston 4,500 23 .57% 01/29/15 01/31/20 $13,500 $162,000 $36 .00

NN 02/01/20 01/31/25 $14,850 $178,200 $39 .60

Option 1 02/01/25 01/31/30 $16,335 $196,020 $43 .56

Option 2 02/01/30 01/31/35 $17,969 $215,622 $47 .92

Option 3 02/01/35 01/31/40 $19,765 $237,184 $52 .71

Option 4 02/01/40 01/31/45 $21,742 $260,903 $57 .98

IHOP Cincinnati 6,395 33 .49% Nov-15 11/30/20 $8,750 $105,000

Ground Lease 12/01/20 11/30/25 $9,625 $115,500

12/01/25 11/30/30 $10,588 $127,050

Occupied 19,095 100.00% $47,150 $565,800 $29.63

Vacant 0 0.00%

Current Totals: 19,095 100.00%



portfolio CASH FLOW

For the Years Ending 12/31/2018 12/31/2019 12/31/2020 12/31/2021

Effective Gross Revenue $566,925 .00 $570,781 .00 $611,405 .00 $622,380 .00

Operating Expenses Real Estate Taxes $0 .00 $0 .00 $0 .00 $0 .00 Insurance $0 .00 $0 .00 $0 .00 $0 .00 Common Area Maintenance $0 .00 $0 .00 $0 .00 $0 .00 CapEx Reserve ($1,905 .00) ($1,905 .00) ($1,905 .00) ($1,905 .00)Non-recapture Management Fee (2.0%) ($5,976 .00) ($6,075 .60) ($6,573 .60) ($6,573 .60)

Total Operating Expenses ($7,881 .00) ($7,980 .60) ($8,478 .60) ($8,478 .60)

Net Operating Income $559,044 .00 $562,800 .40 $602,926 .40 $613,901 .40

Debt Service ($385,632 .44) ($385,632 .44) ($385,632 .44) ($385,632 .44) Cash Flow After Debt Service $173,411 .56 $177,167 .96 $217,293 .96 $228,268 .96 Cash on Cash (%) 6 .00% 6 .13% 7 .52% 7 .90%Interest Expense ($271,718) $140,511 $138,119 $135,612 Principal Paydown $109,177 $114,408 $119,130 $125,597 Total Return $282,588 $291,576 $336,424 $353,866 Total Return (%) 9 .78% 10 .09% 11 .64% 12 .24%Cummulative Principal Paydown $109,177 $223,585 $342,715 $468,312


loan abstract

MATTRESS FIRM & ASPEN DENTAL (ESTERO, FL)

Morgan Stanley Bank$3,200,000$3,048,51611/13/201412/01/202410 years4.50%$16,290.07Defeasance1%Non-recourse

LENDERLOAN AMOUNTPRINCIPAL BALANCE (SEPT-17)

ORIGINAL LOAN DATEMATURITY DATEAMORTIZATIONINTEREST RATEMONTHLY PAYMENTPREPAYMENTASSUMPTION FEERECOURSE

IHOP (CINCINNATI, OH)




MATTRESS FIRM & ASPEN DENTAL (ESTERO, FL)



BRIDENT DENTAL (HOUSTON, TX)



ORIGINAL LOAN DATEMATURITY DATEAMORTIZATIONINTEREST RATEMONTHLY PAYMENTPREPAYMENTASSUMPTION FEERECOURSE GREEN HERMITAGE PORTFOLIO | 6

Mattress Firm & Aspen DentalIDEALLY LOCATED ACROSS THE STREET FROM PREMIER SIMON LIFESTYLE CENTER

The subject property is a newly developed Mattress Firm and Aspen Dental, both of which are under corporate lease agreements with minimal landlord responsibility, and feature rent escalations every 5 years, in addition to 3 extension options . This property is located on a highly trafficked Route 41, the major north south corridor between Tampa, Fort Myers, and Naples, within an affluent region amongst numerous retail centers and country clubs .


22911 Lyden Drive A, Estero FL 33928Click for

Map



core characteristics

Mattress Firm and Aspen Dental are both proven and stable brands within their space and have retail locations across the entire country . Mattress Firm, recently acquired by Steinhoff International for $3 .8 billion, occupies more than 3,500 locations across 49 states and is the largest bedding retailer in the United States . Aspen Dental, a growing brand, has over 600 locations across 36 states and serves more than 15,000 per day .

LEASE HIGHLIGHTS• Mattress Firm signed an 11-year net lease and Aspen Dental has a 10-year

net lease, both with three 5-year extension options to renew . • Both tenants will receive rent increases of 10% every 5 years throughout

both the initial term and option periods .• The tenants are responsible for their pro rata share of taxes, insurance, and

common area maintenance with the exception of the roof and structure .

LOCATION HIGHLIGHTS

• The subject property is conveniently located on US Highway 41 across the street from the 1 .3 million square foot Coconut Point outdoor mall . The malll features over 140 stores including Apple, Bed Bath & Beyond, Best Buy, Dillard’s, Target, and a 16-screen movie theater .

• US Highway 41 is the main thoroughfare running north-south, acting as a bridge between Fort Meyers and Naples . This particular portion of Highway 41 benefits from a traffic count of over 48,000 vehicles per day, with the property being clearly visible from the road .

• The site benefits from strong demographics in the nearby area, with more than 74,000 residents with an average household income of $94,615 within a 5-mile radius .

• The Hertz Corporation recently relocated its headquarters to Estero, just up the road from the subject property . Over 700 employees work at the new 248,600 square foot building .

77,000+ Residents with an average Household income exceeding $96K within a 5-mile radius



aerialBENEFITTING FROM TRAFFIC COUNTS IN EXCESS OF 48,000 VPD

Via Coconut Point

Lyden Drive

Lyden Drive

S Tamiami Trail

S Tamiami Trail

41

41

COCONUT POINT SHOPPING

CENTER

MIAMI

HOUSING(77,970 RESIDENTS WITHIN 5 MILES)


48,500 DAILY



rent roll - Estero


Tenant Sq. Ft. Percent of GLA Term Current

RentMonthly

RentAnnual

RentRent/FT

Mattress Firm 5,000 60 .98% Oct- 14 10/31/19 $190,000 $15,833 $190,000 $38 .00

NN 11/01/19 10/31/24 $17,417 $209,004 $41 .80

11/01/24 10/31/25 $19,158 $229,900 $45 .98

Option 1 11/01/25 10/31/30 $19,158 $229,900 $45 .98

Option 2 11/01/30 10/31/35 $21,075 $252,900 $50 .58

Option 3 11/01/35 10/31/40 $23,183 $278,200 $55 .64

Aspen Dental 3,200 39 .02% Nov- 14 11/30/19 $108,800 $9,067 $108,800 $34 .00

NN 12/01/19 11/30/24 $10,800 $119,680 $37 .40

Option 1 12/01/24 11/30/29 $11,968 $131,648 $41 .14

Option 2 12/01/29 11/30/34 $13,165 $144,813 $45 .25

Option 3 12/01/34 11/30/39 $14,481 $159,294 $49 .78

Occupied 8,200 100.00% $298,800 $24,900 $298,800 $36.44

Vacant 0 0.00%

Totals 8,200 100.00%


SITE PLAN KEY

PARCEL OUTLINE:

RENTABLE AREA: 8,200 SF

INGRESS/EGRESS:

site plan

S Ta

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41

Lyde

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Bulb Lane

MONUMENT SIGN

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48,5

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This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies. GREEN HERMITAGE PORTFOLIO | 11

tenants

Mattress Firm, the largest bedding retailer in the country with over 3,500 locations across 48 states, recorded estimated sales of approximately $4 billion in fiscal 2016 . Mattress Firm offers conventional mattresses, specialty mattresses, YuMe sleep system (a revolutionary sleep system made of foam produced from coconut oil), and bedding related accessories (bed frames, mattress pads, pillows) .

The company was recently acquired by Steinhoff International Holdings, the world’s largest multi-brand/multi-national mattress retail distribution network . Steinhoff has operations in 30 countries, dealing primarily with furniture and household goods, sold under 40 different brands . (NASDAQ: MFRM)

MATRESS FIRMAspen Dental Management Inc . (ADMI) provides non-clinical support services to independently owned and operated dental practices in approximately 33 states . This includes finding the right location, payroll and benefits, equipment, accounting and marketing for their clients, leaving independent, licensed practitioners free to concentrate on patient care .

Aspen Dental has more than 550 locations that offer patients a full range of denture and dental services, from preventive care to general dentistry restoration . In 2015 alone, Aspen Dental branded practices recorded nearly 3 .7 million patient visits and welcomed nearly 785,000 new patients .

ASPEN DENTAL


www.aspendental.comwww.mattressfirm.com


www.aspendental.com

http://www.mattressfirm.com/

THE COCONUT POINT SHOPPING CENTER FEATURES

140 STORES

surrounding retail

Coconut Point Shopping Center


http://www.simon.com/mall/coconut-point

surrounding retail

SURROUNDING NATIONAL RETAILERS AT COCONUT POINT


2017 HOUSEHOLD INCOMES

POPULATION

ABOUT ESTERO, FL

demographics & map

Estero is located in Lee County, which sits along the Florida Gulf Coast between Fort Meyers to the north and Naples to the south . Estero has an estimated population of 30,800 with a growth of 869% since 2000 .

Florida Gulf Coast University is located just 15 minutes north of the subject property, which occupies 760 acres of land and has a student population of approximately 15,000 . Florida Gulf Coast University is considered first-tier among regional universities in the southern U .S ., and offers 51 different types of bachelor’s, 29 different master’s, and 6 types of doctoral degrees .

Estero is also minutes away from the Southwest Florida International Airport, which is considered to be one of the top 50 airports for passenger traffic in the U .S ., and the second busiest single runway airport in the country .

MIAMI

2 HRS 20 MIN142 MILES

48,500 DA

ILY

MATTRESS FIRM & ASPEN DENTAL LOCATION

REGIONAL MAP


1-Mile 3-Mile 5-Mile

2010 4,233 24,434 69,5472017 4,768 27,498 77,9702021 5,264 30,795 86,797


Average $115,542 $105,564 $96,242Median $67,060 $63,769 $58,786

ESTERO

TAMPA

FORT MYERS


30 MIN22 MILES


ihopCORPORATE GUARANTEED GROUND LEASE IN PREMIER RETAIL NODE OF CINCINNATI. CORPORATE LEASE GUARANTEED BY IHOP, INC. FEATURING 10% RENT INCREASES EVERY FIVE YEARS THROUGH THE REMAINDER OF THE PRIMARY TERM


9540 Colerain Avenue, cincinnati, oh 45251Click for

Map


https://www.google.com/maps/place/9540+Colerain+Ave,+Cincinnati,+OH+45251/@39.2452187,-84.5968781,17z/data=!3m1!4b1!4m5!3m4!1s0x88404a6524f5979d:0xb9f219d28aa2c66e!8m2!3d39.2452187!4d-84.5946894



IHOP, owned by DineEquity, has 1,650 locations in North America, Latin America, the Middle East, Southeast Asia, and Oceania . DineEquity is one of the largest full-service companies in the world, and has a workforce of over 200,000 team members .

LEASE HIGHLIGHTS• IHOP’s lease runs through 2030 and features 10% rent escalations every 5

years .• Tenant is responsible for its pro rata share of common area expenses each

calendar year, with minimal maintenance obligations for the Landlord .• IHOP Corporation is the Guarantor under the lease .

LOCATION HIGHLIGHTS

• The subject property is situated on Colerain Avenue, directly across the street from the Northgate Mall . Colerain Avenue experiences high traffic counts of over 29,000 vehicles per day . The Northgate Mall has 100 stores, with anchors including the Burlington Coat Factory, Macy’s, Sears, Marshalls, and a 14-screen movie theater .

• The subject property has great visibility from Colerain Avenue, and the parking lot is easily accessible to cars heading in both directions .

• IHOP is just 20 miles outside of downtown Cincinnati, and is within a densely populated community . This site benefits from 157,014 residents within a 5-mile radius, Colerain High School just down the road, and an abundance of retail anchors along Colerain Avenue .

157,000+ Residents with an average Household income exceeding $66K within a 5-mile radius



aerialBENEFITTING FROM TRAFFIC COUNTS OF NEARLY 30,000 VPD

275

275

126

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2712627 Colerain Avenue

Colerain Avenue

Northgate Square

Central Plaza

H&R BLOCK

Colerain High School

Colerain Middle School

St. John the Baptist School

Colerain Elementary

Taylor Elementary

Houston Early Learning Center

Colerain Hills

Northgate Mall

Stone Creek Towne Center

Colerain Towne Center

PEBBLE CREEK GOLF COURSE

®

HOUSING(157,014 RESIDENTS

WITHIN 5 MILES)

CINCINNATI CITY CENTER

NORTHGATE SQUARE

29,380 DAILY

68,240 DA

ILY




rent roll - Cincinnati


Tenant Name Sq . Ft . Term Current Rent

Monthly Rent

Yearly Rent

Monthly Rent/FT

Yearly Rent/FT

IHOP 6,395 Dec- 05 11/30/10 $7,292 $87,500 $1 .14 $13 .68

Ground Lease 12/01/10 11/30/15 $8,000 $96,000 $1 .25 $15 .01

12/01/15 11/30/20 $105,000 $8,750 $105,000 $1 .37 $16 .42

12/01/20 11/30/25 $9,667 $116,000 $1 .51 $18 .14

12/01/25 11/30/30 $10,583 $127,000 $1 .65 $19 .86

Totals: 6,395 $105,000 $8,750 $105,000 $1.37 $16.42


site plan

Cole

rain

Ave

nue

27

PYLON SIGN

29,3

80 D

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YSITE PLAN KEY

PARCEL OUTLINE:


INGRESS/EGRESS:


tenant overview

ABOUT IHOPSince 1958, IHOP (NYSE:DIN) has served world famous pancakes and a wide variety of breakfast, lunch, and dinner items that are loved by people of all ages . IHOP offers its guests an affordable, everyday dining experience with warm and friendly service . The company is owned by DineEquity and 99% of the restaurants are run by independent franchisees . IHOP has over 1,700 locations across the U .S . and overseas .

In 2017 IHOP ranked #12 in Customers’ Top Service Picks and #23 on the Top 500 Family Style Restuarants List from Restaurant Business Mangazine . In 2015 the restaurant chain saw revenues of $3 .23 billion, with same-restaurant sales up 8 .1% .

TOTAL LOCATIONS 1,700+

2015 SALES $3.23 BILLION

SALES UP 8.1%

www.ihop.comIhop Ranked #23 on the 2017 Top 500 Family Style Restaurants List from Restaurant Business.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 of the information. Buyer must verify the information and bears all risk for any inaccuracies.


http://www.ihop.com/

surrounding retail

SURROUNDING NATIONAL RETAIL ALONG COLERAIN AVENUE


surrounding retail

IHOP IS A PART OF THE NORTHGATE SQUARE SHOPPING



POPULATION

ABOUT CINCINNATI, OH

demographics & map

Cincinnati, the county seat of Hamilton County, is the third-largest city in Ohio, with a population of 298,800, and the 65th-largest city in the United States . The city is part of the much larger Cincinnati-Middletown-Wilmington combined statistical area, which the 2010 consensus identified as having a population of over 2,100,000 .

Cincinnati is home to 9 Fortune 500 companies, and is considered to have the fastest growing economy in the Midwestern United States, with the cost of living and unemployment rate being below the national average .

Cincinnati is home to numerous universities, including the University of Cincinnati and Xavier University, and there are more than 1 million students enrolled at the almost 300 colleges within a 200-mile radius of the city . In 2009, Cincinnati was ranked fourth on CNN’s “Top 10 Cities for New Grads” list .

1 HR 40 MIN108 MILES

29,380 DA

ILY

IHOP LOCATION

REGIONAL MAP


1 HR 44 MIN101 MILES

INDIANAPOLIS

COLUMBUS

LOUISVILLE

CINCINNATI



2010 10,579 66,162 156,1342017 10,512 66,029 157,0142021 10,549 66,405 158,575


Average $60,671 $64,154 $66,110Median $48,486 $50,730 $51,466


brident dentalWALMART RETAIL PAD WITHIN DENSELY POPULATED REGION OF TEXAS. LEASE GUARANTEED BY WESTERN DENTAL’S PARENT COMPANY.

Brident Dental’s Tomball Parkway property is located just off of a highly trafficked signalized intersection, and features excellent visibility . Brident Dental’s lease is guaranteed by Premier Dental Services Inc. Premier Dental is the parent company of Western Dental, which is one of the nation’s largest dental providers serving around one million patients annually in over 200 affiliated clinics within the Western U.S.


13327 tomball parkway, houston, tx 77086Click for

Map


https://www.google.com/maps/place/13327+Tomball+Pkwy,+Houston,+TX+77086/@29.9150462,-95.4894257,17z/data=!4m5!3m4!1s0x8640ced08a0585c7:0x8456f50ebfe92a2c!8m2!3d29.9150462!4d-95.487237


Brident Dental’s initial lease term runs through 2025, and has four 5-year options, with 10% rent increases every five years . The company is an experienced dental services organization, with over 30 locations in Texas .

LEASE HIGHLIGHTS• Brident is currently on a 10-year lease term, with 10% rent increases every

5 years .• Tenant has four 5-year options, with 10% increases every 5 years during

extension period .• Landlord has limited responsibility . Tenant is responsible for in-house

maintenance, its pro rata share of common area maintenance and utilities, in addition to maintaining and replacing the HVAC system if necessary .

• Guaranteed by Premier Dental, parent company of Western Dental .

LOCATION HIGHLIGHTS

• This location is situated on Tomball Parkway, which benefits from favorable traffic counts of over 45,000 vehicles per day

• Brident Dental is a pad to Walmart and is surrounded by retail along Tomball Parkway, including Family Dollar, ALDI, and Kroger .

• Just off of the signalized intersection of Tomball Parkway and Smiling Wood Lane, Brident Dental is easily accessible .

• This area is an extremely densely populated area of Houston, with 313,970 residents within a 5-mile radius of the subject property .313,000+ Residents with an average Household

income exceeding $64K within a 5-mile radius



aerial LOCATED 17 MILES FROM DOWNTOWN HOUSTON, THE SITE BENEFITS FROM EXCEPTIONAL DENSITY WITH 313,000 PEOPLE IN A 5-MILE RADIUS.

Veterans Memorial Drive

Cypress Creek Parkway

Sam Houston Tollway

Sam

Hou

ston

Tol

lway

Tomball Parkway

249

Willowbrook Mall

The Commons at Willowbrook

Willowchase Shopping Center

Wilbern Elementary

Francone Elementary

Cypress Creek High School

Alternative Learning Center

Bang Elementary

Cook Middle School

Gleason Elementary

Klein Intermediate

McDougle Elementary

Nitsch Elementary

Emmet and Sarah Hill

Intermediate

Davis High School

Davis Ninth Grade School

Link Elementary

Gloria B Sammons

Elementary

Conley Elementary

Spence Elementary

Plummer Middle School

Lewis Elementary

Stelle Claughton

Middle School

Eiland Elementary

Reed Elementary

®

Willowbrook Plaza

HOUSTON CITY CENTER

HOUSING(313,970 RESIDENTS

WITHIN 5 MILES)

45,098 DAILY

157,000 DAILY




rent roll - Houston


Tenant Name Sq . Ft . Term Current Rent

Monthly Rent

Yearly Rent

Monthly Rent/FT

Yearly Rent/FT

Brident Dental 4,500 01/29/15 01/31/20 $162,000 $13,500 $162,000 $3 .00 $36 .00

NN 02/01/20 01/31/25 $14,850 $178,200 $3 .30 $39 .60

Option 1 02/01/25 01/31/30 $16,335 $196,020 $3 .63 $43 .56

Option 2 02/01/30 01/31/35 $17,969 $215,622 $3 .99 $47 .92

Option 3 02/01/35 01/31/40 $19,765 $237,184 $4 .39 $52 .71

Option 4 02/01/40 01/31/45 $21,742 $260,903 $4 .83 $57 .98

Totals: 4,500 $162,000 $13,500 $162,000 $3.00 $36.00


SITE PLAN KEY

PARCEL OUTLINE:


INGRESS/EGRESS:

site plan Tomball Parkway249

NOT A PART

ENTRANCE FOR

NOT A PART

PYLON SIGN

45,098 DAILY


tenant overview

ABOUT THE GUARANTOR – PREMIER DENTAL SERVICES, INC.Premier Dental Services, Inc . is the Guarantor of Brident Dental’s Lease, and is the parent company of Western Dental, which is one of the top providers of orthodontic services in the Western U .S . Premier Dental is one of the largest dental services organizations in the United States, with over 180 locations and over 4,000 team members throughout Texas, California, Arizona, Nevada, and Colorado . Based in California, Premier Dental acts as a holding company providing all types of dental and oral health services .

TOTAL LOCATIONS 180+

TOTAL EMPLOYEES 4,000+

Brident Dental serves over 2 Million Patients annually in 200+ affiliated offices


ABOUT THE TENANT – BRIDENT DENTALBrident Dental is a leading dental services organization that offers accessible, affordable, and high-quality dental care to patients of all ages throughout 30+ locations in Texas . The company provides business support services to dental offices owned by licensed dentists, and is affiliated with a dental and oral health maintenance organization that provides services in over 180 locations . Brident Dental is currently dedicating resources towards expanding its presence, which will include acquiring individual dental clinics and group practice management companies, both within and beyond its historical geographical regions .


surrounding retail

313,000+ RESIDENTS WITHIN A 5-MILE RADIUS.


SURROUNDING RETAIL ALONG TOMBALL PARKWAY

surrounding retail



POPULATION

ABOUT HOUSTON, TX

demographics & map

Houston is the most heavily-populated city in the state of Texas, and is the fourth most populous city in the United States, with a census-estimated 2016 population of 2 .303 million within an area of 667 square miles . Houston is located within the Greater Houston metro area, which contains 9 counties, and is the fifth-most populated MSA in the United States .

The economy in Houston is one that is diverse, and is universally known for its energy industry, biomedical research, petrochemicals, and aeronautics . In addition, Houston is the top U .S . market for exports, with the ever-busy Port of Houston ranking first in international commerce and tenth among the largest ports in the world . Outside of New York City, Houston has more Fortune 500 headquarters than any other U .S . municipality within its city limits .


51,500 DAILY

BRIDENT DENTAL LOCATION

REGIONAL MAP

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 of the information. Buyer must verify the information and bears all risk for any inaccuracies. SAN ANTONIO

DALLAS

HOUSTON


2010 16,137 106,858 289,8782017 16,893 117,044 313,9702021 17,849 126,744 339,568


Average $51,120 $61,563 $64,334Median $39,409 $48,617 $48,824



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