boca chica shopping center - transwestern...boca chica shopping center is a newly constructed 5,628...
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NWC Expressway 77/83 & Boca Chica Boulevard, Brownsville, TX
BOCA CHICA SHOPPING CENTER
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PROPERTY INFORMATION
69E
SITESITE
BOCA CHICA BLVD38,000 CPD
21,000 CPD
66,000 CPDEXPRESSW
AY 77/8357,000 CPD
ALDR
IDGE
AVE
ZARAGOSA ST
PARE
DES
LANE
RD
SIM
PSO
N ST
OFFERED FOR SALE Total GLA 5,628 SFLocation 1873 Boca Chica Boulevard, Brownsville, TX 78521NOI $160,398Sale Price Call For Pricing (Financing Available)
Boca Chica Shopping Center is a newly constructed 5,628 SF single-story, single tenant retail building located at 1873 Boca Chica Boulevard on the northwest corner of the signalized intersection of Expressway 77/83 and Boca Chica Boulevard in Brownsville, Cameron County, TX.
Boca Chica Shopping Center is situated on .54 acres of land in the Brownsville trade area. The center is on the area’s major thoroughfare and surrounded by numerous densely populated neighborhoods.
OFFERED FOR SALE
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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AREA RETAILERS
INVESTMENT HIGHLIGHTS - Single Tenant Building Leased to Experienced Regional Dental Practice- New Construction- Hard Corner at Signalized Intersection with Freeway Visibility- Proven Concept with Strong Guarantor- Center Fronts Expressway 77/83, The Rio Grande Valley’s Dominant Thoroughfare- Agua Dental was Founded in 2012 and Currently Has Four Locations Throughout the Rio Grande Valley with Continued Plans for Expansion
AREA EMPLOYERS
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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LOCATION: NWC Expressway 77/83 & Boca Chica Boulevard
ADDRESS: 1873 Boca Chica Boulevard, Brownsville, TX 78521
ACRES: 0.54
YEAR BUILT: 2016
BUILDING NRA: 5,628
OCCUPANCY: 100%
PARKING SPACES: 25 (4.44/1,000)
CONSTRUCTION: Construction materials identified as Cinderblock, EIFS façade and concrete parking lot
LANDLORD RESPONSIBILTIES: Repair and replacement to common area; repair to roof, structure and
utility lines outside Premises; lighting in the parking area. Common areas include parking area, service drives, traffic islands, landscaped areas, loading areas, sidewalks, roof, gutters and downspouts, sprinkler risers, electrical gutters, as well as drainage and lighting facilities servicing any of the aforesaid areas
ADMIN FEE: 15%
MANAGEMENT FEE: 4% of gross revenues
NOI: $160,398
INVESTMENT OVERVIEW
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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TENANT OVERVIEW
Agua Dental
Agua Dental offers a full range of general, cosmetic and reconstructive dentistry services such as teeth whitening, crowns, preventive care and implants as well as pediatric dentistry. Founded in 2012, Agua Dental utilizes proven state-of-the-art technology to provide patients with an effective and affordable dental experience. The practice is owned and personally guaranteed by Dr. Shawn Akhavan, D.D.S, who currently operates three Agua Dental locations throughout south Texas and recently secured a forth location. Agua Dental has been in operation for five years with continued plans of expanding similar dental concepts both inside and outside the Rio Grande Valley.
www.aguadentaltexas.com
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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Villanova Ave
Aldr
idge
Ave
Las Casas St
Carthage Ct
Zaragosa St
Frontage RdFrontage Rd
Frontage RdFrontage Rd
N Frontage Rd
Pare
des L
ine
RdPa
rede
s Lin
e Rd
Palm
Blv
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69E
69E
69E
77
83
83
77
SITE4
281
69E
48
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83
77
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United States
Mexico
United States
Mexico
Mex
ico
4Boca Chica Blvd
BROWNSVILLE TRADE AREA OVERVIEW
RIO GRANDE VALLEY OVERVIEW
• Brownsville is an established, densely populated trade area with the majority of residents locally employed in government, education and health services as well as trade, transportation and utilities.
• Home to four Port of Entry bridges, two of which are commercially used, connecting Brownsville to Matamoros, Mexico which supports the Brownsville-Matamoros United partnership dedicated to serving the industrial and economic growth of the global marketplace.
• Brownsville plays a critical role in trade activity, in 2015, exports and imports with Mexico to and from Brownsville totaled $13.5 billion.
• Mexican Nationals generate $1.1 billion annually in retail spending in the Rio Grande Valley.
• Brownsville is an attractive market for young families, 11th youngest city in the U.S., as well as snow birds due to the draw of moderately priced homes, overall low cost of living and easy accessibility to healthcare.
• Home to two major award-winning hospitals, Valley Regional Medical Center and Valley Baptist Medical Center, which are among the city’s top employers.
DEMOGRAPHICS1 MILE 3 MILES 5 MILES 10 MILES
Daytime Population 19,726 127,820 196,099 246,195
Population 13,754 101,201 187,567 222,662
Average HH Income $45,568 $44,084 $46,279 $47,756
TRAFFIC COUNTSExpressway 77/83 N of Boca Chica Boulevard 66,000 cpd
Expressway 77/83 S of Boca Chica Boulevard 57,000 cpd
Boca Chica Boulevard W of Expressway 77/83 21,000 cpd
Boca Chica Boulevard E of Expressway 77/83 38,000 cpd
The Rio Grande Valley is located at the southernmost tip of Texas, on the northern bank of the Rio Grande River, which divides Mexico from the United States. The Rio Grande Valley is made up of four counties (Starr, Willacy, Cameron and Hidalgo) and populated with over 1.3 million predominately Hispanic residents. With a land area of 11,122,712 square kilometers, the Rio Grande Valley is almost twice the size of Delaware and four times the size of Rhode Island. The major cities include, Brownsville, McAllen, Harlingen, Mission, Edinburg and Pharr, in addition to several smaller towns. Boasting nine Ports of Entry bridges connecting the Valley cities to Mexico, the cities are uniquely positioned as hubs for international trade in the North American Free Trade Agreement (NAFTA) marketplace and make up the “Rioplex” along with the northern border cities of Mexico between Matamoros and Ciudad Mier. In 2016, Texas exports with Mexico exceeded $92 million with $81 million in imports from Mexico. This trade is primarily dominated by truck movements and relies on the land Ports of Entry bridges throughout the Valley. The ability to market and sell both North and South from a central location is key to the international trade created by NAFTA. As the markets continue to open and expand to Mexico and Central and South America, companies are seeking the most strategic location from which to distribute their products. Brownsville has emerged as a top destination for retailers, manufactures and logistic firms continually in pursuit of a thriving new location to grow their business.
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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PROJECTED ANNUAL OPERATING STATEMENT
CURRENT
Base Rent
Occupied Space 160,398
Vacant Space @ Market -
Gross Potential Rent 160,398
Total Reimbursements 31,452
Gross Income 191,850
Less: General Vacancy –
Effective Revenue 191,850
Reimbursable Operating Expenses
CAM 8,442
Real Estate Taxes 11,256
Insurance 2,814
Administrative Fee 1,266
Management Fee 7,674
Total Reimbursements 31,452
Net Operating Income $160,398
Notes:(1) Reconciliation expected to occur at year end(2) Operating expenses based on Landlord proforma(3) Administrative Fee based on 15% of CAM(4) Management Fee based upon 4% of Gross Revenues
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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FINANCIALS AVAILABLE UPON EXECUTION OF CONFIDENTIALITY AGREEMENT
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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LANDSCAPED AREA
PAINTED HANDICAP SYMBOL, RE: 12/A-0.2
CONCRETE PAVING, RE: CIVIL
4" WIDE PAINTED STRIPES, PAINT WHITE
EDGE OF SIDEWALK, RE: 03/A-0.2
TRASH ENCLOSURE, RE: 01/A-0.3
6" PIPE CONCRETE FILLED BOLLARD, RE: 07/A-0.2
HANDICAP PARKING SIGN, RE: 04/A-0.2
NEW REINFORCED CONCRETE WALK ON 4" MIN. A.B.C.GRANULAR FILL.
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CONCRETE WHEEL STOP, RE: 05/A-0.2 11
CONCRETE CURB RAMP. RE: 09/A-0.2
PYLON SIGN 12
1. GENERAL CONTRACTOR SHALL COMPLY WITH ALL REQUIREMENTS OFCURRENT SOILS REPORT (COMPLETED WITHIN THE PAST 6 MONTHS).
2. GENERAL CONTRACTOR SHALL VERIFY ALL DIMENSIONS ON DRAWINGFOR CONFLICTS PRIOR TO CONSTRUCTION. THE CONTRACTOR SHALLNOTIFY THE ARCHITECT OF ANY DISCREPANCIES.
3. REFER TO CIVIL DRAWINGS FOR PAVING THICKNESS, CURB TYPES ANDLONGITUDINAL AND HORIZONTAL CONTROL.
4. REFER TO LANDSCAPE DRAWINGS FOR LANDSCAPE REQUIREMENTS.
5. FOR BUILDING LOCATION DIMENSIONS AND SETBACKS, RE: CIVIL ANDARCHITECTURAL SITE PLAN.
6. NO STRUCTURE OF ANY KIND TO BE CONSTRUCTED ON, OR PLACEDWITHIN PUBLIC UTILITY EASEMENTS EXCEPT WOOD, WIRE OR REMOVABLESECTION TYPE FENCING AND/OR PAVING NOR ANY PLANTING EXCEPTGRASS. GENERAL CONTRACTOR SHALL BE REQUIRED TO REMOVE ANYOBSTRUCTIONS OR PLANTING THAT MUST BE REMOVED DURING THECOURSE OF MAINTENENACE, CONSTRUCTION OR RECONSTRUCTION OFTHE PUBLIC UTILITIES. VERIFY WITH LOCAL AGENCIES.
7. ALL SIDEWALKS ARE TO BE LIGHT BROOM FINISH UNLESS NOTEDOTHERWISE
8. COORDINATE WATER (DOMESTIC OR FIRELINE) AND GAS METERLOCATIONS WITH CIVIL DRAWINGS.
9. COORDINATE TRANSFORMER PAD LOCATIONS WITH MEP AND CIVILDRAWINGS.
10. ANY DAMAGE BY GENERAL CONTRACTOR OR SUBCONTRACTOR TOEXISTING ASPHALTIC PAVEMENT AND/OR EXISTING LANDSCAPE SHALL BEREPAIRED AT NO COST TO THE OWNER.
11. GENERAL CONTRACTOR TO PROVIDE ALL GOVERNMENTAL REQUIREDSIGNAGE NECESSARY FOR CERTIFICATE OF OCCUPANCY (FIRE LANESIGNAGE, "DO NOT BLOCK DOOR", ETC.
12. GENERAL CONTRACTOR SHALL VERIFY ALL ON SITE CONDITIONS ANDNOTIFY THE ARCHITECT OF ANY DISCREPANCIES OR OMISSIONS PRIOR TOCONSTRUCTION.
13. GENERAL CONTRACTOR TO SCHEDULE BLUE STAKE INSPECTION ANDNOTIFY ARCHITECT OF ANY DISCREPANCIES BEFORE BEGINNING ANYWORK.
14. REFER TO SITE ELECTRICAL PACKAGE FOR ANY REQUIRED SITELIGHTING.
15. REFER TO CIVIL DRAWINGS FOR ADDITIONAL NOTES ANDDIMENSIONS
KEYED NOTES 05 1/16" = 1'-0"
GENERAL NOTES
SITE PLAN
PARKING DATA
A-0.1
SITE PLAN
01
02
03
LDG job# 214.30
REVDATE
MC
ALLEN
, TEXA
S
This drawing and the design shown isthe property of the architect. Thereproduction, copying or use of thisdrawing without their written consentis prohibited and any infringement willbe subject to legal action.
PERMIT/BID SET03/16/15
SDI R
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EXPRESSWAY 77/83
LEASING PLAN
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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AREA DEVELOPMENT PLAN
69E
69E
60,000 CPD
23,990 CPD
38,000 CPD
57,000 CPD
21,000 CPD
66,000 CPD
71,000 CPD
E LOS EBANOS BLVD
BOCA CHICA BLVD
OLD ALICE RD
E MOR
RISO
N RD
PALM BLVD
COFFEE RD
OLD
PORT
ISAB
EL R
D
W PRICE RD
PAREDES LINE RD
PABL
O KIS
EL B
LVD
E RUBEN M TORRES SR BLVD36,000 CPD26,770 CP D
BARGAINFURNITURE
SITESITE
EXPRESSWAY 77/83
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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CONFIDENTIALITY AGREEMENT & DISCLAIMERTranswestern1900 West Loop South, Suite 1300Houston, TX 77027713.270.7700 / Fax 713.401.1461
CONFIDENTIALITY STATEMENTBoca Chica Shopping Center1873 Boca Chica BoulevardBrownsville, TX 78521
The undersigned has been advised that Transwestern Property Company SW GP, L.L.C. dba Transwestern has been retained on an exclusive basis by the Owner with respect to the offering or sale of Boca Chica Shopping Center, 1873 Boca Chica Boulevard, Brownsville, TX 78521 (the “Property”). The Owner has indicated that all inquiries and communications with respect to the contemplated sale of such Property be directed to Transwestern. All fees due Transwestern in connection with the sale of the Property shall be paid by the Owner. The undersigned hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property and agrees that it will not look to the Owner, the Owner’s Lender or Transwestern for any fees or commissions in connection with the sale of the Property. The undersigned also hereby acknowledges that is has not dealt with any broker, other than Transwestern, and Co-Broker identified on subsequent signature page, regarding the acquisition of the Property, or if it has, the undersigned hereby agrees to indemnify the Owner, the Owner’s Lenders and Transwestern against any compensation, liability or expense, arising from claims by Co-Broker, or any other broker or other party the undersigned had dealings with in connection with the sale of the Property.
The Owner has available for review certain information (“Confidential Information”) concerning the Property. On behalf of the Owner, Transwestern may make such Confidential Information available to the undersigned upon execution of this Confidentiality Statement. The Confidential Information is intended solely for your own limited use in considering whether to pursue negotiations to acquire the Property.
This is not an agreement to sell the Property, nor an offer of sale. No agreement binding upon the Owner of the Property, or any of its associated or affiliated companies, shall be deemed to exist, at law or equity, until the Owner of the Property enters into a formal binding agreement of sale.
The Confidential Information contains brief, selected information pertaining to the business and affairs of the Owner, and has been prepared by Owner and Transwestern, primarily from information supplied by the Owner or Owner’s Agent. It does not purport to be all inclusive or to contain all the information which a prospective purchaser may desire. Neither Transwestern, the Owner nor the Owner’s Lender make any representation or warranty, express or implied, as to the accuracy or completeness of the Confidential Information and no legal liability is assumed or to be implied with respect thereto.
By executing this Confidentiality Statement you agree that the Information provided is confidential, that you will hold and treat it in the strictest of confidence, and that you will not disclose or permit anyone else to disclose the Information to any person, firm or entity without prior written authorization of the Owner and Transwestern except that the information may be disclosed to your partners, employees, legal counsel and lenders or pursuant to a court order. Owner expressly reserves the right in its sole discretion to reject any or all proposals or expressions or interest in the property and to terminate discussions with any party at negotiations you hereby agree to return the Confidential Information to Transwestern.
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
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On Behalf of Prospective Purchaser: Co-Broker (if any)
Company: Company:
Address: Address:
City: City:
State: ZIP: State: ZIP:
Phone: Phone:
Fax: Fax:
E-mail: E-mail:
By: By:
Its: Its:
Date: Date:
Signature: Signature:
BOCA CHICA SHOPPING CENTERFOR SALE | SINGLE TENANT ASSET IN GROWING SOUTH TEXAS MARKET
Information About Brokerage ServicesBefore working with a real estate broker, you should know that the duties of a broker depend on whom the broker represents. If you are a prospective seller or landlord (owner) or a prospective buyer or tenant (buyer), you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if the parties consent in writing. A broker can assist you in locating a property, preparing a contract or lease, or obtaining financing without representing you. A broker is obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into an agreement with the owner, usually through a written - listing agreement, or by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. The buyer should not tell the owner’s agent anything the buyer would not want the owner to know because an owner’s agent must disclose to the owner any material information known to the agent.
IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into an agreement to represent the buyer, usually through a written buyer representation agreement. A buyer’s agent can assist the owner but does not represent the owner and must place the interests of the buyer first. The owner should not tell a buyer’s agent anything the owner would not want the buyer to know because a buyer’s agent must disclose to the buyer any material information known to the agent.
IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the parties if the broker complies with The Texas Real Estate License Act.
The broker must obtain the written consent of each party to the transaction to act as an intermediary. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, set forth the br ker’s obligations as an intermediary. The broker is required to treat each party honestly and fairly and to comply with The Texas Real Estate License Act. A broker who acts as an intermediary in a transaction:
(1) shall treat all parties honestly;(2) may not disclose that the owner will accept a price less than the asking price unless authorized in writing to do so by the owner;(3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information or any information that a party specifically instructs the broker in writing not to disclose unless authorized in writing to disclose the information or required to do so by The Texas Real Estate License Act or a court order or if the information materially relates to the condition of the property.
With the parties’ consent, a broker acting as an intermediary between the parties may appoint a person who is licensed under The Texas Real Estate License Act and associated with the broker to communicate with and carry out instructions of one party and another person who is licensed under that Act and associated with the broker to communicate with and carry out instructions of the other party.
If you choose to have a broker represent you,you should enter into a written agreement with the broker that clearly establishes the broker’s obligations and your obligations. The agreement should state how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee to a broker does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve those questions before proceeding.
Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.
Buyer, Seller, Landlord or Tenant Date
Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a question or complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.
01A TREC No. OP-K
Approved by the Texas Real Estate Commission for Voluntary UseTexas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.
Transwestern | 1900 West Loop South, Suite 1300 | Houston, TX 77027 | P: 713.270.7700 | www.twhoustonretail.comThe information contained herein was obtained from sources believed reliable. However, Transwestern makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of price or conditions, prior sale or lease, or withdrawal without notice.
Micha van Marcke, CCIMSenior Vice [email protected]
713.272.1231
Chace HenkeVice [email protected]
713.272.1274
FOR INFORMATION CONTACT: