stnl corporate at&t wireless 3190 e. main s , uvalde, tx...
TRANSCRIPT
Subject Property
STNL CORPORATE AT&T WIRELESS
3190 E. MAIN STREET, UVALDE, TX 78801
1901 Avenue of the Stars, Suite 630 | Los Angeles, CA 90067 | Broker BRE License No. 01961545 | PegasusInvestments.com
Subject Property
BRAND NEW 2016 PROTOTYPE BUILDING
IMMEDIATELY INVESTED $30K+ IN FAÇADE
1901 Avenue of the Stars, Suite 630 | Los Angeles, CA 90067 | Broker BRE License No. 01961545 | PegasusInvestments.com
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be
reviewed only by the party receiving it from Pegasus Investments and should not be made available to any other person or
entity without the written consent of Pegasus Investments. This Offering Memorandum has been prepared to provide
summary, unverified information 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 due diligence investigation. Pegasus Investments
has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the
subject property, the future projected 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, the compliance with State and Federal
regulations, the physical condition of the improvements thereon, or the financial condition of the business prospects of any
tenants, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this
Offering Memorandum has been obtained from sources we believe to be reliable; however, Pegasus Investments has not
verified, and will not verify, any of the information contained herein, nor has Pegasus Investments conducted any investigation
regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the
information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
1901 Avenue of the Stars, Suite 630 | Los Angeles, CA 90067 | Broker BRE License No. 01961545 | PegasusInvestments.com
DISCLAIMER
AT&T Marketing Team:
Daylin AckermanAssociate
P (310) 691-1350 x114
Brian WolfmanSenior Associate
P (310) 691-1350 x107
Kevin CatalaniVice President
P (210) 841-3237
Subject Property
CLICK HERE FOR PROPERTY VIDEO
AERIAL VIDEO
LOCATED ALONG US HIGHWAY 90THE MAJOR THOROUGHFARE BETWEEN UVALDE AND SAN ANTONIO
SUBJECT
Subject Property
OUTPARCEL TO WALMART SUPERCENTER
WALMART OPENED 2005, REMODELED IN 2013
CORPORATE GUARANTEED LEASENEW CINGULAR WIRELESS PCS, LLC
Subject Property
Single Tenant AT&T (Uvalde, TX)
INVESTMENT HIGHLIGHTS
Investment Highlights
▪ Corporate Guaranteed Lease.
New Cingular Wireless PCS, LLC is
the corporate entity that signs all
of AT&T’s Corporate retail locations
in US.
▪ Façade recently upgraded to
latest prototype. Despite brand
new, ground up construction
completed in 2016, the tenant
invested an additional $30,000
upgrading to the newest
generation of AT&T Wireless retail
stores shortly after opening.
▪ Relocation Store. AT&T previously
operated in the adjacent strip
center but relocated to this build-
to-suit location to accommodate
additional space warranted by the
stores outstanding performance.
▪ Highly Flexible Building. Property
is set up for easy conversion to
alternative use (e.g. drive-thru
retail) in the unlikely event the
tenant ever vacates - building size
and dimensions are highly sought
after among leading retailers.
Location Highlights
▪ #1 Retail Corner. Located at one
of the best retail corner in all of
Uvalde, TX.
▪ Multiple Points of Access. The
property benefits from dual
ingress/egress points from US
Highway 90.
▪ Walmart Anchor. The Walmart
Supercenter is the most dominant
anchor in all of Uvalde. The
subject property is strategically
located as a prominent outparcel.
▪ Limited Competition. The
property benefits from the limited
competition in the Uvalde market.
▪ Excellent Access & Visibility.
Strategically built to maximize the
use and access of the corner
location, the property benefits
from tremendous presence.
▪ Outparcel with limited
Restrictions. Rare outparcel to
Walmart-anchored retail power
center with limited to no use
restrictions.
Tenant Highlights
▪ AT&T Wireless. Currently in the
process of acquiring Time Warner,
AT&T is considered a best in class
wireless carrier and is the dominant
wireless carrier in Uvalde, TX.
▪ New Cingular Wireless PCS, LLC.
The tenant is a subsidiary of AT&T
Mobility, LLC, the second largest
provider of mobile communications
services in the United States, with
more than 128 million customers and
nearly $73 billion in revenues.
▪ AT&T “Strong” Investment Grade
Rating. Rated by S&P, Moody’s and
Fitch as “Strong” investment grade
tenant.
Purchase Price$2,435,400 [6.25% Cap.]
Net Operating Income [2017]$152,212.50/year + NNN
Increases10% increase of base rent every 5 years
Next Increase 4/1/2021
Lease Term9 years (expires 3/31/2026)
Options(2) 5-year, subject to increases
Lease StructureNN (see lease summary on page 11)
Building / Lot Size / Year Built~4,510 SF / ~0.71 acres / 2016
AT&T GuarantyNew Cingular Wireless PCS, LLC (Corporate)
Address 3190 E. Main Street
Uvalde, TX 78801
[Google map link]
Pricing Summary
STRATEGIC OUTPARCEL LOCATION
ONLY WALMART WITHIN A 40+ MILE RADIUS
LEASE SUMMARYTENANT: New Cingular Wireless PCS, LLC
AT&T DESIGNATION: AT&T Mobility (Corporate)
LEASE TYPE: NN(see Landlord Repairs below)
COMMENCEMENT DATE: March 28, 2016
EXPIRATION DATE: March 31, 2026
RENTABLE SF: ~4,510 SF
ADMINISTRATIVE FEE 5% of CAM charges(CAM Cap of 5% on “Controllable Expenses”)
OPTIONS: (2) 5-year options
INCREASES: 10% every 5 years
LANDLORD REPAIRS:Roof, Structure, Landscaping &
HVAC replacement
Subject Property *New construction with transferable warranties
PERFORMANCE BASED TENANT RELOCATIONBRAND NEW 2015 BUILD-TO-SUIT WITH UPGRADES IN 2016
Subject Property
TENANT OVERVIEW
AT&T is an industry leading provider of
mobile services, television, high speed
internet and smart solutions for people and
businesses. In North America, AT&T
provides high-speed mobile internet to
over 365 million people and they are
currently the largest provider of pay TV in
the United States with over 25 million
subscribers. On a global scale, their IP
network connect businesses on 6
continents representing 99% of the world’s
economy. Their advanced business services
serve nearly 3.5million business and include
nearly all of the Fortune 1000. Lead by
Chairman and CEO Randall L. Stephenson,
AT&T reported $146.8 billion in
consolidated revenue for 2015.
Obligations of AT&T Inc. are rated as
strong, investment grade by Standard &
Poor’s, Moody’s Investor Services and Fitch
Ratings. New Cingular Wireless PCS, LLC
had an equity balance in the billions as of
December 2015.
Corporate Structure: Public
Ticker: (NYSE: T)
Market Cap: $252.23 B
U.S. Store Count: 16,000+
Geographic Footprint: International
www.AT&T.com
Representative Photo
Located at the crossroads of US Highway 90 and US Highway 83, Uvalde is the county seat of Uvalde County, just 82miles west (via US Highway 90) of San Antonio, Texas. Uvalde was founded by Reading Wood Black in 1853 as thetown of Encina. In 1856, when the county was organized, the town was renamed Uvalde after Spanish governor Juande Ugalde (Cádiz, Andalucía, 1729-1816) and was chosen as county seat. It is usually considered the southern limit ofthe Texas Hill Country or the most northerly part of South Texas. Historically, Uvalde is known as the Honey Capital ofthe World for production of huajillo (also spelled guajillo) honey, a mild, light-colored honey, dating back to the1870s. Uvalde was the home of John Nance “Cactus Jack” Garner, former Speaker of the House and Vice President ofthe United States. Oscar- winning actor Matthew McConaughey, actress Dale Evans, and former Governor of TexasDolph Briscoe (after whom the post office is named), were born in Uvalde.
LOCATION OVERVIEW
HTTP://WWW.VISITUVALDE.COM/INDEX.HTML
REGIONAL MAP
Population Growth2000
Census
2010
Census
2016
Estimate
2021
Projection
Trade Area Population Growth 46,912 47,969 49,876 52,072
Rate of Population Growth +2.2% +3.9% 4.4%
Average Household Income $53,052
Median Age 36.0 yrs.
San Antonio
Austin
San Marcos
SUBJECT
Uvalde
Round Rock
Pegasus Investments
1901 Avenue of the Stars, Suite 630
Los Angeles, CA 90067
www.pegasusinvestments.com (310) 691-1350
DRE# 00776468
Chad Buelow
Managing Director
DRE Lic# 01854509
P (310) 691-1350 x111
Pegasus Capital Markets:
Tyler Johnson
Analyst
DRE Lic# 01947197
P (310) 691-1350 x112
Daylin Ackerman
Associate
P (310) 691-1350 x114
Trevor Nelson
Managing Director
P (310) 691-1350 x104
Ken Chasin
Founder
P (310) 691-1350 x100
Kevin Shelburn
Vice President
P (310) 691-1350 x105
Brian Wolfman
Senior Associate
P (310) 691-1350 x107
David Chasin
Managing Director
P (310) 691-1350 x101
Tony Veiller
Analyst
P (310) 691-1350 x113
Michael Spector
Associate
P (310) 691-1350 x109
Katherine Weaver
Senior Analyst
P (310) 691-1350 x115
Talia Tonti
Office Manager
P (310) 691-1350 x108
About Pegasus Investments
Pegasus Investments is a boutique commercial real estate investment and advisory firm based in Los Angeles, CA. Specializing in
retail shopping centers, single tenant net leased and multifamily properties throughout the United States, Pegasus has
consistently delivered on its 28 year reputation of providing high quality, white glove service throughout all stages of the
investment sales process. Pegasus provides its clients, which include high net worth private investors, family trusts, private &
public REIT’s, local and regional developers and syndicators with advisory services encompassing underwriting, market research,
investment sales and asset management. Pegasus continues to set the bar for high quality, boutique investment sales brokerage
and advisory by relying on its industry-leading talent which include experienced institutional and private sector investors.
Pegasus Asset Management:
Justin Herman
Asset Manager
P (310) 691-1350 x1003
Seth Bell
Vice President
P (310) 691-1350 x1002
Brad Kritzer
Executive Vice President
P (310) 691-1350 x106