920 18th street | historic downtown, plano, texas of ce ...€¦ · 920 18th street is located in a...

920 18th Street | Historic Downtown, Plano, Texas

Office & Residential Investment Opportunity

- 2 -920 18th Street | Historic Downtown, Plano, Texas

EXECUTIVE SUMMARY

Weitzman Group is pleased to present 920 18th Street for your consideration. This investment opportunity is a 3-year sale leaseback by SINGLEForm, a staffing company based out of Plano, TX and founded in 2008. The investment consists of a 4,960 office building with a historical designation by the City of Plano, as well as two apartments totaling 1,600 square feet and a 968 square foot single family home that is separately parceled but adjacent to the office parcel. The historical designation allows an owner to save approximately 30% on property taxes due to a local tax savings program.

SINGLEForm is a software company that helps companies have automated management, compliance, and oversight of their staffing needs. Their software automates and supervises the hiring process, secures employee data, and protects companies from fines, audits, and litigation in a cost-effective manner.

The 3-year lease will be personally guaranteed by the seller. The seller also has the option to sublease any unused space to other potential tenants. The historic office property consists of many smaller rooms that are in demand for lease by professional type tenants, such as lawyers, accountants, etc. These tenants desire a quieter setting without the inconvenience and extra costs of leasing larger office space. Landlords are able to lease individual rooms for a greater price per square foot as a result because the total rental expense is less overall than leasing space in a large office property.

Address: 920 18th Street, Plano, Texas 75074

Property Type: Office & Residential

Leased: 100%

GLA: 7,528 SF

Land Area: 0.50 Acres | 21,780 SF

Zoning: Historic D | Commercial

Pricing: $1,100,000.00

PROPERTY DETAILS | PRICING

EXECUTIVE SUMMARYOVERVIEW


TENANT SUMMARY

Next Generation HR Management Solution

Joe Ergonis, a military veteran with over four decades of experience as a sales professional in Fortune 1000 companies, understands the chal-lenge businesses owners’ face managing the workflow of their hiring process. Back in 2001, when he was approached by two young entrepre-neurs with an idea to start a staffing company, little did he know that he was about to embark on a journey that can remold this HR logistical maze. As Billy Kent and Jason Russell opened the doors to their staffing agency, RPC Company, Ergonis conceived an avant-garde paperless, compliant, and simpler staffing solution— SINGLEForm—that has now evolved into a platform for automated supervisory management, com-pliance, and oversight throughout a company’s entire employee lifecycle. At its core, SINGLEForm is an intelligent hiring work flow engine that improves the business conduct of industries by automating their hiring process, securing their employee data, and protecting them from po-tential fines, audits, and litigation.

Designed in a high-volume, fast-paced staffing environment, Ergonis released SINGLEForm in the market in 2008. The company’s unified and secure software platform treads a smart methodology to automate the vast complexities of the hiring process through a powerful policy based workflow engine. This automation works wonders in revolutionizing the way an employee is hired; mitigating risk while increasing productivity in the recruitment process, in a cost-effective fashion. Specifically designed for the staffing industry, SINGLEForm focuses on provisioning a paper-less environment that securely collects and distributes accurate data across the enterprise.

Ergonis’ vision has helped SINGLEForm reach its current stature in provisioning effective time management by eradicating the time-consuming process of filing, auditing and creating forms by automating the process altogether. Elaborating on the prospects, Ergonis emphasizes on his willingness to partner with different investors to enhance the software according to the requirements of the dynamic market environment. SIN-GLEForm has set the wheels in motion to reserve a spot for itself at the vanguard of the process automation to solve a plethora of challenges for healthcare, insurance, government contractors and Certified Public Accountant (CPA) industries.


EXECUTIVE SUMMARY

920 18th Street is located in a gentrifying area of Downtown East Plano and next to the DART (Dallas Area Rapid Transit Light Rail), a public transportation system that connects Plano with Downtown Dallas. Several new residential developments have already been built or under construction close by. Retailers in the area formed an association in 2007 called the Historic Downtown Plano Association in order to preserve and grow the Downtown Plano area. The area is now home to a variety of new housing opportunities, historical properties, and numerous interesting shops and restaurants, as well as frequent live music performances.

EXECUTIVE SUMMARYDOWNTOWN PLANO


EXECUTIVE SUMMARY

Downtown Plano has reawakened and transformed into an exciting urban center with shopping, restaurants, entertainment and nightlife. In 2002, the Dallas Area Rapid Transit (DART) light rail station opened in downtown and provided the spark for renewed interest and reinvestment. Developers and small business owners and the City of Plano have revived the heart of the city and created a vibrant, distinctive and authentic place of regional importance. Downtown Plano is ready for continued growth, with ample opportunities for redevelopment and infi ll projects to add new housing, businesses, shopping and entertainment. The prospect of a new DART Cotton Belt transit station on Downtown Plano’s southside even further expands downtown’s potential.

Urban. Historic. Artistic.

EXECUTIVE SUMMARYDOWNTOWN PLANO | FUTURE STRATEGY

• Additional 26 miles of transit rail set to traverse the Downtown area by 2022.

• Over 70,000 square feet of new commercial space, shops, restaurants and offices.

• Over 40 percent increase in historic core property values since 2014.

• Plans to develop 1,000 units of housing within 1/2 mile of the Downtown Plano Station and a total of 2,000 units within the Plano DART rail corridor. Promote a variety of housing types and price points.

• Plans to improve streets, trails and sidewalks to create a pedestrian-friendly environment and better connections among neighborhoods, mixed-use centers and transit stations.


MARKET AERIAL

POLICE DEPARTMENT& MUNICIPAL COURT

HAGGARD PARK

75

920 19THSTREET


LOC

ATIO

N M

AP


MARKET OVERVIEW

DALLAS - FORT WORTH | BY THE NUMBERS

1# TEXAS HAS OUTPACEDTHE NATION FOR JOBGROWTH IN 2017Austin Business Journal

2# TOP STATE TO FIND A JOB IN AMERICACNBC

#4 BEST STATE FOR BUSINESS 2016

TOP 10HOT HOUSING MARKET 2016

Business Insider

Texas adds 1,200 NEW RESIDENTS

every day

432,957NEW RESIDENTS IN 2016

Dallas Morning News

1# IN THE COUNTRY IN PERCENT JOBGROWTH (3%)

2# IN THE COUNTRY IN ABSOLUTE JOBGROWTH

DALLAS-FORT WORTH TOP 20BEST PLACES TO LIVE 2017

US News & World Report

TOP 5HOT HOUSING MARKET 2017

Realtor.com

DFW Region adds 360 NEW RESIDENTS

every day

43%NATURAL INCREASE

57%NET

MIGRATIONUS Census, 2015-2016

TOP 5

Forbes

TEXAS| BY THE NUMBERS


POPULATION & INCOME

14,2442018 Total Population

$58,3012018 Average Household Income

HOUSEHOLD SIZE | MEDIAN AGE

2.902018 Average Household Size

31.12018 Median Age

HOUSEHOLDS

4,8572018 Total Households

$160,4392018 Average Home Value

Tapestry Segments

NeWest Residents

Metro Fusion

American Dreamers

13C

1,736 households

11C

1,184 households

7C

819 households

35.7%

24.4%

16.9%

of Households

of Households

of Households

EDUCATION

21%Some College

23%Bachelor's/Grad/Prof Degree

EMPLOYMENT

53%White Collar

19%Blue Collar

28%Services

3.0%

UnemploymentRate

1 M

ILE

DEM

OG

RAPH

IC O

VER

VIE

W


This real estate presentation has been prepared for information purposes only, and does not purport to contain all the information necessary to reach a purchase decision for the property described herein (the “Property”). The information contained herein ( the “Information”) has been carefully compiled, but not independently verified by the Seller or Weitzman, and there is no representation, warranty or guarantee whatsoever as to its completeness or accuracy.

Any potential Purchaser shall rely entirely on its own information, judgment and inspection of the Property and its records, and neither the Seller nor Weitzman assume any liability whatsoever for errors or omissions in the Information or any other data provided in connection with the Property. Each potential Purchaser and any party related thereto agrees that neither Seller not Weitzman shall have any liability for any reason, whether for negligence or gross negligence, from the use of the Information by any person in connection with the purchase of or any other investment in the Property by a Purchaser or any other party related thereto.

Neither the Seller nor Weitzman has any liability whatsoever for any oral or written representations, warranties or agreements relating to the Property except as expressly set forth by any such party in any contract of sale executed in connection with the Property.

This presentation is subject to changes by the Seller as to price or terms, to prior sale, to withdrawal of the Property from the market, and other events beyond the control of the Seller and Weitzman.

Weitzman is the trade name of Weitzman Management Corporation, a regional realty corporation.

Acknowledgements: Michael Barera, Scott Vann, City of Plano, Historic Downtown Plano Association

EVAN ALTEMUSAssistant Vice [email protected] 214.720.6635M 832.819.8859

CONTACTS:DEREK [email protected] 214.720.3623M 814.421.5970

INFORMATION ABOUT BROKERAGE SERVICESTexas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

REGULATED BY THE TEXAS REAL ESTATE COMMISSION INFORMATION AVAILABLE AT WWW.TREC.TEXAS.GOV

IABS 1-011-2-2015

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage

actives, including acts performed by salesagents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others, including the broker’s own interests;

• Inform the client of any material information on about the property or transaction received by the broker;

• Answer the client’s questions and present any offer to or counter-offer from the client; and

• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listening to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party

to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:• Must treat all parties to the transaction

impartially and fairly;• May, with the parties’ written consent,

appoint a different license holder associated with the broker to each party (owner andbuyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose:

° that the owner will accept a price less than the written asking price; ° that the buyer/tenant will pay a price

greater than the price submitted in a written offer; and ° any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities

to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Weitzman 402795 [email protected] 214-954-0600Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone

Robert E. Young, Jr. 292229 [email protected] 214-720-6688Designated Broker of Firm License No. Email Phone

License No. Email PhoneLicensed Supervisor of Sales Agent/ Associate

Evan Altemus 632617 [email protected] 214-720-6635Sales Agent/Associate’s Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

INFORMATION ABOUT BROKERAGE SERVICESTexas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

REGULATED BY THE TEXAS REAL ESTATE COMMISSION INFORMATION AVAILABLE AT WWW.TREC.TEXAS.GOV

IABS 1-011-2-2015

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage

actives, including acts performed by salesagents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others,

including the broker’s own interests;• Inform the client of any material information

on about the property or transaction received by the broker;

• Answer the client’s questions and present any offer to or counter-offer from the client; and

• Treat all par es to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listening to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the par es the broker must first obtain the written agreement of each party

to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:• Must treat all par es to the transaction

impartially and fairly;• May, with the par es’ written consent, appoint

a different license holder associated with the broker to each party (owner andbuyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose:

° that the owner will accept a price less than the written asking price; ° that the buyer/tenant will pay a price

greater than the price submitted in a written offer; and ° any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities

to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Weitzman 402795 [email protected] 214-954-0600Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone

Robert E. Young, Jr. 292229 [email protected] 214-720-6688Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/ Associate License No. Email Phone

Derek Schuster 685656 [email protected] 214-720-3623Sales Agent/Associate’s Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

920 18th street | historic downtown, plano, texas of ce ...€¦ · 920 18th street is located in a...

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