BROWNSVILLE VILLAGE
BROWNSVILLE, TX (MSA)
*Brownsville Village must be purchased with Las Campanas, please contact Agent for details
Brownsville Village
1304 Central Blvd
Brownsville, TX 78526
SUMMARY
Las Campanas
2501 Paredes Line Rd
Brownsville, TX 78526
SUMMARY
* Please see Las Campanas OM for more details
DBA Pizza Patron
Entity on Lease Pizza Rica, LP
Corporate/Franchise Franchise
Locations 100+
Credit Rating Private
Public/Private Private
Line of Business Pizza Patrón Inc. is a United States pizza chain headquartered in San Antonio, Texas with locations in Arizona, California, Illinois and Texas. In addition to the franchise’s 100 locations across the southwest, 40 more are currently under development.
DBA Dollar General
Entity on Lease Dolgencorp of Texas, Inc.
Corporate/Franchise Franchise
Locations 14,000+
Credit Rating S&P: BBB
Public/Private NYSE: DG
Line of Business
Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee. Their stores deliver everyday low prices on items including food, snacks, health and beauty aids, cleaning supplies, family apparel, housewares, seasonal items, paper products and much more from America’s most trusted brands and products, along with Dollar General’s high-quality private brands.
DBA MetroPCS
Entity on Lease Sinity Enterprises, LLC
Corporate/Franchise Franchise
Locations Over 15,000 locations across America
Credit Rating Not Rated
Public/Private NYSE: PCS
Line of Business
MetroPCS is a prepaid wireless service in the United States that is part of T-Mobile US, Inc. MetroPCS provides nationwide talk, text, and data depending on the plan services using T-Mobile US’ GSM, HSPA, HSPA+ and 4G LTE networks.
• Stabilized Asset: Brownsville Village is currently 100% occupied and has maintained an occupancy level of approximately 90% or higher for the last 15 years. It should be noted that this includes the time frame of the great recession of 2008 where most properties across the United States lost 30% of their occupancy or more. We have also been told Dollar General has plans to upgrade their store in the next 2-3 months with reorganized isles and new coolers in the back of the store. We expect this improvement to range between $100k and $200k in total cost to the tenant.
• Credit Tenants: 100% of the tenant line up at Brownsville Village includes nationally recognized tenants. This points to strong brand awareness and traffic flow. Although none of the tenants are required to report sales, we are told that this Dollar General is doing “far above average.”
• Strong Demographics: The city of Brownsville is on the United States/Mexico Border. The city of Matamoros is a 10 minute drive from Brownsville, TX. Therefore, Brownsville enjoys daily traffic from Mexican shoppers that is not counted in the United States or the Brownsville census. Like many boarder towns, Brownsville, Texas is a desirable market.
• Below Market Rents: The average rental rate at Brownsville Village is only $9.82 psf. Rental rates in the immediate area for like kind product are ranging from $10.00 to $17.00 psf.
This line is the Texas/Mexico border
This line is the Texas/Mexico border
Gulf of Mexico
Brownsville, TX
OVERVIEW
Brownsville, Texas is located at the southernmost tip of the state of Texas in the United States. It is on the northern bank of the Rio Grande river and directly north and across the border from Matamoros, Mexico. Brownsville is a major trading center and “maquiladora” or border zone manufacturing center for U.S. companies and an international seaport. There are Gulf Coast beach areas about 20 miles east of town at the mouth of the Rio Grande, notably South Padre Island, a favorite winter and spring-break destination
Brownsville is the sixteenth-most populous city in the state of Texas with an estimated population of 183,046 in 2014. The 2014 U.S. Census Bureau estimate placed the Brownsville-Harlingen metropolitan area population at 420,392, making it the ninth most populous metropolitan area in the state of Texas. In addition, the international Matamoros–Brownsville Metropolitan Area was estimated to have a population of 1,136,995. Brownsville has been recognized as having one of the best pro-business climates in the United
States, and the city has been ranked among the least expensive places to live in the U.S. Brownsville’s urban area is one of the fastest growing in the United States, with the Port of Brownsville becoming a major economic hub for South Texas is recent years. The port, located 2 miles from the city and provides an important link between the road networks of nearby Mexico, and the Gulf Intracoastal Waterway of Texas. The city’s economy is based mainly on its international trade with Mexico through the North American Free Trade Agreement (NAFTA).
In recent news, SpaceX is building the SpaceX South Texas Launch Site, a private space launch facility east of Brownsville on the Gulf Coast. The new launch facility is expected to draw $85 million to the city of Brownsville and eventually generate approximately $51 million in annual salaries from some 500 jobs created by 2024. The facility itself is projected to employ 75–100 full-time workers in the early years with up to 150 full-time employees/contractors by 2019.
CONFIDENTIALITY AGREEMENT
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 STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.
This offering memorandum has been prepared to provide summary, unverified financial and physical 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. STRIVE 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, PCBs or asbestos, the compliance with local, 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 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, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.
Commercial Disclaimer
STRIVE hereby advises all prospective purchasers of commercial property as follows:
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.
As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.
Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs.
Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property.
By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.
Information About Brokerage Services
Texas 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 th e 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 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:
ӽ that the owner will accept a price less than the written asking price;
ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
ӽ 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.