absolute net lease ella blvd. summary the offering property absolute net lease s sam houston...

$5,268,480

7.50% Cap Rate

15-Year New Lease

Corporate Guarantee

1.82 LCR

ABSOLUTE NET LEASE ELLA BLVD.

Offering Memorandum

11095 Ella Blvd., Houston TX 77067

2


Offering Memorandum

• 7.5% Cap• Strong Corp Guarantee• Inflationary Resilient• Zero Management• 15-Year Net Lease• 100% Location• LCR 1.82

David B. Fisher, CCIMFuel & Convenience Center Investments

D. (832) 442-2828C. (936) 320-3737

[email protected]

License TX: 691654Activity ID: Z0860154

1450 Lake Robbins Drive, Suite 300The Woodlands, TX 77380

11095 Ella Blvd.Houston, Texas 77067

INVESTMENT SUMMARY…Location Summary

Investment Overview

FINANCIAL ANALYSIS…

Financial Summary

REGIONAL MAP…Aerial Photo

Regional Location

MARKET OVERVIEW…Branded Franchise

Competitive Set

Comparable Sales

Additional Pictures

Market Overview

Demographic Analysis

TABLE OF CONTENTS

5,000 SF| NET INTERIOR AREA |

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06

10

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15

16

17

25

27

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OFFERING SUMMARY

CHARLOTTE NNN

LOCATION SUMMARY


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S U B J EC T

Ella & Greens Pkwy – 14,000 APD

1. Driscol Place - 440 u2. Worthington Beltway - 326 u3. Fall Lake Apt. - 1244. Pine Lake Village - 96 u5. Bristol Apt. - 248 u6. Live Oak Bend - 252 u

1

6

2

4 53

Industrial @ 2,849,000 SF 1-Mi.A. Amazon Fulfillment Center B. Data FoundryC. Prologis D. SYSCO

A

B

C

D

OFFERING SUMMARY

CHARLOTTE NNN

INVESTMENT OVERVIEW

5


OVERVIEWDavid Fisher, CCIM and Marcus & Millichap have been retained on an exclusive basis andare pleased to present the opportunity to acquire a net leased investment where Zip InZip Out Inc. will be the tenant under a brand new 15-year absolute net lease. The ownersof Zip In Zip Out Inc. have over 80-years of collective experience in developing “Next-Generation” fuel and convenience center investments. The subject property is located at11095 Ella Blvd., Houston, TX. It was constructed in 2016 with improvements consisting ofa spacious “Next Generation” convenience center of approximately 5,000 SF, and aprimary fuel canopy @ 3,000 sf, which are of exceptional design and new construction.Included in the sale-leaseback is a buildable pad that can support a 2,500 SF retailbuilding that could be leased out or build-to-suit by the new owner thereby increasingtotal Cap Rate.

The property consists of approximately 144,619± SF of land (3.32± acres), the marquee signstands on the hard corner of Ella Blvd. and Greens Pkwy. and is visible to over 14,000 north,south, east and westbound daily travelers. Ella Blvd is a major arterial roadway that connects toBeltway 8 with circles downtown Houston. Greens Pkwy serves as a tertiary access point toInterstate Hwy 45.

This exceptional inflationary resilient net leased investment opportunity requires zero landlordresponsibilities and is a result of the developers many years of experience in developing,opening and stabilizing successful fuel and convenience center projects. Zip In Zip Out Inc. isoffering a sale-leaseback arrangement with an initial 15-year obligation with six (6) 5-yearoptions to renew and 10% rental payment increases every 5-years. The lease is backed by strongfinancials from Zip In Zip Out Inc. @ 1.82 Lease Coverage Ratio from EBITDA (See page 16 foradditional corporate information.)

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The center consists of a 5 Multiple Product Dispensers (MPDs) with 10 fueling stations and a modern designed convenience store with 15’ highceilings, spacious café & deli, large prep and cold storage areas with extensive office and dry storage space. The property supports thefollowing businesses; a premier national franchise gasoline brand Chevron, local brand “Fresco Grille”, Zip In Zip Out convenience center, andan off-site beer & wine license.

OFFERING SUMMARY

CHARLOTTE NNN

INVESTMENT OVERVIEW

6


MINI-MART

The convenience store includes a Mini-Mart with an off-site beer and wine license, aquick service restaurant (QSR) Fresco Grille, and a well stocked convenience center.Visitors to Zip In Zip Out convenience centers have come to expect a friendly place to sit,relax and enjoy quality food and competitively priced fuel in a clean and safeenvironment.

The building envelope is approximately 5,000± square feet and has stucco over steelframe construction over a concrete foundation and slab floor. The roof cover is buildupcomposition. The interior ceiling has a 15± feet elevation above slab with the top of theroof deck being 17± feet above grade. The building contains a four foot high parapetextending the exterior North, South and East facing walls to a 21± foot elevation abovegrade.

DISPENSER CANOPYThe facility contains one fuel canopy containing approx. 3,000 square feet ofarea. The canopy is brightly lit by advanced high-luminescence light-cans and isof metal frame construction supported by modern Chevron-design metal-poledispensing islands.

The five double-sided fuel dispensers (10 fueling stations) offer customers threegrades of gasoline (regular, midgrade and premium) and a separate dieseldispenser.

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Chevron Zip in Zip Out was specifically designed and targeted toward the local commuter, and neighborhood community that includesover 1,500 apartment units within easy walking distance to the property.

OFFERING SUMMARY

CHARLOTTE NNN

INVESTMENT OVERVIEW

7


UNDERGROUND FUEL TANKS

The property contains four underground fuel tanks with leak monitor systems,containment basins and related safety and EPA required improvements, whichwere all installed new in 2016. The underground tank installations conform to2016 government requirements.

Four underground tanks have a combined 30,000-gallon gasoline capacity. Theprimary gasoline tank with a 20,000 gallon capacity, and two additional gasolinetanks at 5,000-gallon capacities each.

The gasoline tanks are partitioned into three compartments providing a regular,midgrade and premium grade of gasoline. All tanks are designed with double wall,fiber-coated metal construction

YARD IMPROVEMENTS

The site has a concrete surface throughout including the fuel canopy area andabove the underground tank areas. The site has 26 automobile parking spaces inaddition to two handicapped spaces.

o Trash enclosure

o Air and water station

o Hard corner monument sign

o Turnkey buildable pad @ 2,500 SF net.

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OFFERING SUMMARY

CHARLOTTE NNN

INVESTMENT OVERVIEW

8


FEATURES

o Expansive merchandise display with the cashier counter strategically located toward the north side (right at entry) of the floor area with ample unrestricted space for customer movement in front.

o Deli food preparation area at the northwest area of the interior.

o Fresco Grille restaurant with convenient interior tables and chairs at the southeast corner of the interior space.

o Spacious top rated stainless steel walk-in coolers with 22 reach-in shelves serving both the convenience store and the restaurant/deli operation.

o Labor conscious gravity flow re-stock-dispensing shelves behind each cooler door.

o Separate men’s and women’s restrooms with extensive use of marble on walls and floor exemplify the owners commitment to quality in design details and construction.

o Large uncongested back-of-house prep and kitchen area for the Fresco Grille and Deli.

o Large stainless steel walk-in freezer located within the walk-in refrigerator.

o Climate controlled “door ajar” alert system in all walk-in coolers & freezer.

o Dry storage area and large private office.

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#

OFFERING SUMMARY

#

ABSOLUTE NET LEASE ELLA BLVD

9


9

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES *

Exlp Finance Corp 5,008

Lufkin Industries LLC 4,700

A B S Americas 2,056

Vallen Safety Supply Company 2,000

Williams Brothers Cnstr Co Inc 1,713

Newfield Exploration 1,500

Reed Academy For Engineering 1,100

CHI St Lukes Health 1,009

Schneider Electric 842

STERLING 800

TAS Commercial Concrete LLC 779

B & G Foods 774

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 8,302 133,774 314,463

2010 Census Pop 7,687 119,337 278,591

2017 Estimate HH 2,903 40,902 94,641

2010 Census HH 2,708 36,985 84,818

Median HH Income $32,560 $35,753 $40,011

Per Capita Income $13,549 $14,378 $15,788

Average HH Income $38,755 $47,016 $52,438

* # of Employees based on 5 mile radius

PROPERTY SUMMARY

THE OFFERING

Property Absolute Net Lease S Sam Houston

Property Address 11095 Ella Blvd.

Houston, TX 77067

Price $5,268,480

Capitalization Rate 7.50%

Price/SF $1,023.01

PROPERTY DESCRIPTION

Year Built / Renovated 2016

Gross Leasable Area 5,150 SF

Zoning Retail / Commercial

Type of Ownership Fee Simple

Lot Size 3.32 Acres

LEASE SUMMARY

Property SubtypeNet Leased Auto Service -

Gas/Conv

Tenant Zip In Zip Out Inc

Rent Increases 10% each 5-years

Guarantor Corporate Guarantee

Lease Type Absolute Net

Lease Commencement At Close of Escrow

Initial Lease Term 15-Years

Renewable Options Six (5) Year Options

Landlord Responsibility Zero

Tenant Responsibility 1

Right of First

Refusal/OfferNo

Note: The sale includes an add value component with an adjacent ready build retail pad that can support an additional 2,500 SF. Perfect for a build-to-suit, or lease as-is. Either way it is a real opportunity to increase yield for the new owner.

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OFFERING SUMMARY

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OFFERING SUMMARY

CAP Rate Price Price/SFInitial

Cash-on-Cash

LEASE SUMMARY7.80% $5,068,480 $984.17 9.62%

7.65% $5,168,480 $1,003.59 9.12%

7.50% $5,268,480 $1,023.01 8.63% Tenant:Absolute Net Lease S Sam

Houston

7.36% $5,368,480 $1,042.42 8.17% Guarantor: Corporate Guarantee

7.23% $5,468,480 $1,061.84 7.72% Credit Rating: Regional

Rent Commencement: At Close of Escrow

Operating Information Initial Lease Term 15-Years

NOI as of 2023 $395,136

Options:

2023 @ $434,136

2028 @ $478,114

2033 @ $525,926

2038 @ $578,519

2043 @ $636,370

Rent/SF $76.73

Gross Leasable Area 5,150 SF

Financing Lease Type: Absolute Net

New Acquisition Financing $3,687,936

Loan To Value 70.00%$76.73/SF

$6.39/SF/Month

$395,136 Annual Rent

Interest Rate 5.00% Base Rent:

Amortization Period 25 Years

Loan Constant 7.02%

Annual Debt Service Payment $258,712Rent Increases: 10% each 5-years

Year 1 Debt Service Coverage 1.53

Year 1 Debt Yield 10.71%

Year 1 Net Cash Flow After Debt Service $136,424

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Include Operating Expenses: NoANNUALIZED OPERATING

INFORMATION# of Rent Schedule Lines: 6

INCOME Year of Next Rent Increase: 2023

Net Operating Income $395,136 New Annual Rent Amount: $434,649

RENT SCHEDULE

YEAR ANNUAL RENT MONTHLY RENT RENT/SF CAP RATE

Current $395,136 $32,928 $76.73 7.50%

2023 $434,649 $36,221 $84.40 8.25%

2028 $478,114 $39,843 $92.84 9.07%

2033 $525,926 $43,827 $102.12 9.98%

2038 $578,519 $48,210 $112.33 10.98%

2043 $636,370 $53,031 $123.57 12.08%

2048 $700,007 $58,334 $135.92 13.29%


OFFERING SUMMARY

AERIAL PHOTO


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REGIONAL MAP


13

PROPERTY PHOTO


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PROPERTY PHOTO


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GLOBAL NATIONAL BRANDING

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o Chevron Corporation is an American multinational energy corporation.One of the successor companies of Standard Oil, it is headquartered in SanRamon, California, and active in more than 180 countries. Chevron is oneof the world's largest oil companies; as of 2017, it ranked nineteenth inthe Fortune 500 list of the top US closely held and public corporations.

o Zip In Zip Out Convenience Center is a Texas based company founded bythree brothers highly respected in the Houston community with acombined 80+ years of Fuel & C-Store industry experience successfullydeveloping and having owned and operated over 30 fuel and conveniencecenter properties. In 2016 they developed the Zip In Zip Out "NextGeneratiom" C-Store concept that addresses the changing demands of thetravelling public and local communities where the stores are located. Theowners have retained six Zip In Zip Out branded stores within the Houstonarea.

o The Zip In Zip Out brand has become the “Next-Generation” fuel andconvenience center standard by which other similar asset types aremeasured. Quality design, construction, and strong management willgenerate safe passive-investment returns for the investor. The investmentis backed by a strong balance sheet, a 1.82 LCR with zero managementresponsibilities. The new lease will indemnify investor 100% from anyenvironmental concerns as the tenant will remain 100% accountable.Note: Owners have a perfect environmental record!

MARKETOFFERING SUMMARY

CHARLOTTE NNN

COMPETITIVE SET

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Competitive Set 1-mi

Subject @ 5,000 sfBuilt: 2016

1. Valero @ 3,600 sfBuilt: 1983

2. Chevron @ 4,589 sfBuilt: 2018

3. Texaco @ 6,000 sfBuilt: 1995

1

2

3

MARKET

COMPARABLESCOMPARABLES

OFFERING SUMMARY

CHARLOTTE NNN

NORTH HOUSTON, TX

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18- 18 -


COMPARABLES MAP

19


(SUBJECT)

Jiffy Lube

Jiffy Lube

Stripes Convenience Store

7–Eleven and Shell Gas

and Convenience Station

Stripes

7-Eleven

Circle K

Murphy Express Ground

Lease

7-11 VALLEY RIDGE

SALES COMPARABLES

1

2

3

4

5

7

8

6

9

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PROPERTY NAMEABSOLUTE NET LEASE ELLA BLVD

SALES COMPARABLES

Avg. 5.93%

0.0

0.8

1.6

2.4

3.2

4.0

4.8

5.6

6.4

7.2

8.0

ABSOLUTENET LEASEELLA BLVD

StripesConvenience

Store

7–Elevenand ShellGas and

ConvenienceStation

Stripes 7-Eleven Circle K MurphyExpressGroundLease

7-11 VALLEYRIDGE

Average Cap Rate

Avg. $1,017.88

$0.00

$300.00

$600.00

$900.00

$1,200.00

$1,500.00

$1,800.00

$2,100.00

$2,400.00

$2,700.00

$3,000.00

ABSOLUTENET LEASEELLA BLVD

StripesConvenience

Store

7–Elevenand ShellGas and

ConvenienceStation

Stripes 7-Eleven Circle K MurphyExpressGroundLease

7-11 VALLEYRIDGE

Average Price Per Square Foot

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


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SALES COMPARABLES

SUBJECT PROPERTY

Asking Price $5,268,480

Price/SF $1,023.01

CAP Rate 7.50%

GLA 5,150 SF

Lot Size 3.32 acre(s)

Year Built 2016

ABSOLUTE NET LEASE ELLA BLVD11095 Ella Blvd, Houston, TX, 77067

1

Close Of Escrow 3/20/2015

Days On Market 281

Sales Price $3,100,000

Price/SF $770.00

CAP Rate 7.05%

GLA 4,026 SF

Year Built 2002

STRIPES CONVENIENCE STORE4420 West University Drive, Edinburg, TX, 78539

2



Price/SF $480.38

CAP Rate 5.75%

GLA 6,000 SF

Year Built 1990

7–ELEVEN AND SHELL GAS AND CONVENIENCE STATION26730 East Highway 380, Little Elm, TX, 76227

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES


rentpropertyname1


rentpropertyname1


22

SALES COMPARABLES

3


Days On Market 129


Price/SF $840.51

CAP Rate 6.43%

GLA 4,991 SF

STRIPES708 US Hwy 77, Schulenburg, TX, 78956

4


Days On Market 356


Price/SF $719.69

CAP Rate 6.40%

GLA 4,728 SF


Year Built 2006

7-ELEVEN5500 West MIle 7 Road , Mission, TX, 78574

5



Price/SF $854.10

CAP Rate 6.00%

GLA 3,009 SF


Year Built 1999

CIRCLE K1701 S 10th St, McAllen, TX, 78503

NAP

PROPERTY NAME

MARKETING TEAM


SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


23

SALES COMPARABLES

6


Days On Market 91


Price/SF $2,427.18

CAP Rate 5.15%

GLA 1,200 SF


Year Built 2018

MURPHY EXPRESS GROUND LEASEAlt Highway 90 & University Blvd, Sugar Land, TX, 77478

7



Price/SF $1,033.33

CAP Rate 4.72%

GLA 3,000 SF

Year Built 1998

7-11 VALLEY RIDGE900 Valley Ridge Blvd, Lewisville, TX, 75077

OFFERING SUMMARY

CHARLOTTE NNN

ADDITIONAL PICTURES

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OFFERING SUMMARY

CHARLOTTE NNN

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MISCELANEOUS PICTURES

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ECONOMY▪ The economy is diversifying to include biotechnology, distribution, nanotechnology and

logistics; the metro is the center of the energy production with roughly 260,000 workers.

▪ Local product manufacturing is a large segment of the economy and includes paper,

electrical and electronic machinery, iron, steel and petrochemicals.

▪ Healthcare is gaining economic prominence. Specialized medical education and training

institutions boost the local economy and supply a growing hospital system.

▪ The Port of Houston is one of the country’s busiest for exports, supplying thousands of jobs

and generating billions of dollars in revenue.

SHARE OF 2017 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Memorial Hermann Healthcare System

University of Texas

The Kroger Co.

Exxon Mobil Corp.

Shell Oil Co.

Houston Methodist

United Continental Holdings

Baker Hughes Inc.

CHI St. Luke’s Health

Hewlett Packard Enterprise* Forecast

MANUFACTURING8%

GOVERNMENT

HEALTH SERVICES

EDUCATION AND

OTHER SERVICES AND MINING

+NATURAL RESOURCES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

20%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

4%INFORMATION AND

16%

7%

14% 10% 5%

13%


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DEMOGRAPHICS

▪ The Houston metro is expected to add 506,600 people through 2022 and roughly

111,500 of these residents will be millennials in the 20- to 34-year-old cohort.

▪ During the same period, nearly 229,500 households will be formed, generating

demand for housing.

▪ The homeownership rate of 61 percent is below the national rate of 64 percent. The

median home price of $247,200 is also below that the U.S.

Outdoor activities abound in Houston as a result of the city’s favorable location and climate.

More than a dozen state parks and recreation areas lie within a short drive of Houston, as

well as more than 500 parks and open spaces and various cultural venues and museums.

Johnson Space Center is a popular tourist and educational destination. The metro is also

known internationally for its medical community and is home to the Texas Medical Center,

the largest of its kind in the world. Houston is home to four professional sports teams: the

Houston Texans, the Houston Astros, the Houston Rockets and the Houston Dynamo.

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

QUALITY OF LIFE

2017 Population by Age

0-4 YEARS

7%5-19 YEARS

22%20-24 YEARS

7%25-44 YEARS

29%45-64 YEARS

24%65+ YEARS

10%

SPORTS

EDUCATION

ARTS & ENTERTAINMENT


34.1

2017MEDIAN AGE:

U.S. Median:

37.8

$60,300

2017 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$56,300

6.9M

2017POPULATION:

Growth2017-2022*:

7.4%

2.4M

2017HOUSEHOLDS:

9.6%

Growth2017-2022*:

27

MARKETING TEAM

Source: © 2015 Experian

PROPERTY NAME

#

CREATED ON SEPTEMBER 10, 2018

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMEABSOLUTE NET LEASE ELLA BLVD

PRICING AND VALUATION MATRIX

PROPERTY NAMEABSOLUTE NET LEASE ELLA BLVD.

28

DEMOGRAPHICS

1 Miles 3 Miles 5 Miles

POPULATION

2022 Projection 9,322 143,018 335,767

2017 Estimate 8,302 133,774 314,463

2010 Census 7,687 119,337 278,591

2000 Census 5,379 90,662 213,151

INCOME

Average $38,755 $47,016 $52,438

Median $32,560 $35,753 $40,011

Per Capita $13,549 $14,378 $15,788

HOUSEHOLDS

2022 Projection 3,254 44,659 103,408

2017 Estimate 2,903 40,902 94,641

2010 Census 2,708 36,985 84,818

2000 Census 2,200 29,623 69,765

HOUSING

2017 $111,435 $111,238 $111,248

EMPLOYMENT2017 Daytime Population

14,384 143,411 300,654

2017 Unemployment 8.07% 6.37% 6.07%

2017 Median Time Traveled

32 31 32

RACE & ETHNICITY

White 29.31% 32.72% 34.76%

Native American 0.02% 0.06% 0.06%

African American 38.50% 33.84% 31.91%

Asian/Pacific Islander

6.12% 5.33% 6.63%

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap andshould not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverifiedinformation 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 duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, thecompliance with 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 orintentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus &Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty orrepresentation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forthherein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. Â© 2017 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name isnot intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, orcommercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

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TEXAS BROKERAGE | SERVICES FORM

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.

TYPES OF REAL ESTATE LICENSE HOLDERS:• A BROKER is responsible for all brokerage activities, including acts performed by sales agents 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 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 listing 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;

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Information available at www.trec.texas.govRegulated by the Texas Real Estate Commission

IABS 1-0

Marcus & Millichap 9002994 [email protected] 972-755-5200Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone

Tim A. Speck 432723 [email protected] 972-755-5200Designated Broker of Firm License No. Email Phone

Ford Noe 709695 [email protected] 713-452-4200Licensed Supervisor of Sales Agent/Associate License No. Email Phone

David Fisher 691654 [email protected] 832-442-2828

▪ May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) 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 subagentcan 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.

____________/____________/____________/____________ __________Buyer / Tenant / Seller / Landlord Initials Date

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www.MarcusMillichap.com

David Fisher, CCIM

Fuel | Convenience Center Investments

Tel: (832) 442-2828

Fax: (832) 442-2810

Marcus & Millichap

1450 Lake Robbins Rd. Suite 300

The Woodlands, TX 77380

[email protected]

Licenses: CA 691654, TX 691654

P R E S E N T E D B Y

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absolute net lease ella blvd. summary the offering property absolute net lease s sam houston...

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