1. education
2. high school

Big Spring
Crossing
Fully Leased WALMART
SUPERCENTER STRIP
201 W Marcy Drive, Big Spring, TX 79720
For more info on this opportunity please contact:
John Andreini
Rick Sanner
jandreini@capitalpacific.com | (415) 274-2715
CA BRE# 01440360
rsanner@capitalpacific.com | (415) 274-2709
CA BRE# 01792433
Bob Sanner
Chris Kostanecki
bsanner@capitalpacific.com | (415) 274-2717
CA BRE# 00869657
Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
ck@capitalpacific.com | (415) 274-2701
CA BRE# 01002010
In conjunction with TX Licensed Brokers:
Brad and Gavin Kam, Net Realty Advisors
(972) 661-8476 | gavin@netrealtyadvisors.com
Fully leased strip center: pad to WalMart Supercenter
with over 70% of the income stream backed by corporately
guaranteed leases
PRICE: $5,875,000
CAP: 7.34%
RENTABLE SF. . . . 19,065 SF
PRICE PER SF . . . . $308.16
Investment Highlights
LINE WAITING FOR
TENANTS TO OPEN
LAND AREA. . . . . . 1.994 Acres
LEASE TYPE. . . . . . NNN
YEAR BUILT. . . . . . 2015
Investment highlights
New construction
Excellent visibility and access: There is a huge 70 foot pylon sign visible from freeway
and multiple points of ingress/egress from Walmart
Located at the epicenter of Big Spring, where two highways intersect
Stable community: 4.5% unemployment rate, projected population growth and
home of Howard College (which has over 5,000 students and staff )
Big Spring Veterans Administration Medical Center is located directly across the
street, serving more than 79,000 veterans in the area
Lease Highlights
Reimbursement clauses for all costs – repairs, maintenance, replacements
(including roof & structure), management fees, common area maintenance, and
all other standard operating costs
Rents are at market or below market levels
No co-tenancy clauses within the subject property
Fifty percent of the GLA has rental increases in the base term
Big Spring Crossing | 2
Regional Map
ing,
Big Spr
TX
Traffic counts
in excess of
23,800 vpd on
Marcy drive
Lubbock
big spring
Big Spring
crossing
Crossing
abilene
big spring
san angelo
Big Spring Crossing | 3
Highly Visible Location
Located at the epicenter of Big Spring, where two highways intersect
87
20
20
350
t
E
HOWARD
COUNTY
Moss
Elementary
BIG SPRING MALL
Big Spring
Jr. High School
Big Spring
High School
87
Washington
Elementary
Goliad
Elementary
et
g Stre
S Greg
20
Stree
E 3rd
t
tree
4th S
00
®
Y
IL
D
A
8
3,
2
E Marc
y Drive
BIG SPRING MARKET PLACE
BIG SPRING
MCMAHON-WRINKLE-BPG
BIG SPRING
CROSSING
20
DALLAS
87
BIG SPRING
COUNTRY CLUB
Big Spring Crossing | 4
Income & Expense
ACTUAL
Price:
PROPOSED NEW LOAN
$5,875,000
Capitalization Rate:
7.34%
Price Per Square Foot:
$308.16
Loan Amount
Interest Rate *
Down Payment
30%
$1,762,500
Amortization
Loan Amount (70% LTV)
70%
$4,112,500
Term
Total Leased (SF):
100.00%
Total Vacant (SF):
0.00%
Total Rentable Area (SF):
19,065
Lot Size (Acres):
INCOME
19,065
1.994
Per Square Foot
$4,112,500
4.50%
30 Years
10
Recourse
Non-Recourse
Debt Service
$250,049
Monthly Debt Service
$20,837
Pre-Tax Cash Flow
$180,892
Debt Coverage Ratio
1.72
Scheduled Rent
$23.47
$447,378
Pre-Tax Leveraged Cash-on-cash Return
10.26%
CAM Recovery
$5.27
$100,486
Principal Paydown (Year 1)
$66,344
EFFECTIVE GROSS INCOME
Market Vacancy Reserve (Scheduled Rent)
3.00%
ADJUSTED GROSS INCOME
EXPENSES
$547,864
Total Return
($16,436)
Yield
$531,428
14.03%
*There is also an interest only option for first 5 years
Per Square Foot
CAM Expenses
$1.63
$31,050
Insurance
$0.52
$10,000
Taxes
$2.26
$43,000
Property Management Fee (3%)
$0.86
$16,436
TOTAL OPERATING EXPENSES
$5.27
$100,486
NET OPERATING INCOME
$247,236
$430,942
NOTE: Expenses CY 2015 Projections
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Big Spring Crossing | 5
Rent Roll
Sq. Ft.
Percent of
GLA
Lease
Start
Lease
Expiration
Monthly
Base Rent
Annual
Rent
Monthly
Rent/SF
Annual Rent/
SF
THE CASH STORE (Corporate)
1,890
9.90%
5/1/2015
5/1/2020
$4,883
$58,590
$2.58
$31.00
RUE 21 (Corporate)
4,935
25.90%
5/1/2015
4/30/2016
$6,786
$81,428
$1.38
$16.50
5/1/2016
4/30/2017
$6,991
$83,895
$1.42
$17.00
5/1/2017
4/30/2018
$7,197
$86,363
$1.46
$17.50
5/1/2018
4/30/2019
$7,403
$88,830
$1.50
$18.00
5/1/2019
4/30/2020
$7,608
$91,298
$1.54
$18.50
Three 5 year options with 10% rental
increases in each option
Two 5 year options with one 12.5% rental
increase
Tenant
Options
Four 5 year options with 10% rental
increases in each option
NAIL SALON
1,600
8.40%
5/1/2015
4/30/2020
$3,167
$38,000
$1.98
$23.75
SHANNON MEDICAL CENTER (Corporate)
3,040
15.90%
5/1/2015
4/30/2020
$6,080
$72,960
$2.00
$24.00
COMPLETE NUTRITION (Corporate)
1,600
8.40%
5/1/2015 10/31/2017
$3,400
$40,000
$2.08
$25.00
11/1/2017 4/30/2020
$3,467
$41,600
$2.17
$26.00
One option with a 10% rental increase
Two 5 year options with 10% rental
increases in each option
Two 3 year options at 10% rental increases
PAPA JOHN’S
1,600
8.40%
5/1/2015
4/30/2020
$3,200
$38,400
$2.00
$24.00
SUSHI HANNA
2,000
10.50%
5/1/2015
4/30/2016
$3,833
$46,000
$1.83
$22.00
5/1/2016
4/30/2025 Annual rental increase of $0.50psf
One 5 year option with a 7.5% rental
increase
5/1/2015
4/30/2020
$6,000
$72,000
$2.50
$30.00
None
Totals
$37,348.63
$447,377.50
$16.35
$196
AT&T (100+ Unit Franchisee)
2,400
12.60%
Current Totals: 19,065
100.00%
Occupied 19,065
100.00%
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Big Spring Crossing | 6
Tenants
Cottonwood Financial
Cottonwood Financial is one of the largest privately held financial service providers in the retail consumer finance
industry. They have over 330 company-owned locations, under the Cash Store brand, across the country. The company
was named three times to the Inc. 5000 list of America’s fastest-growing private companies and five times to the Dallas
100 list of the fastest-growing private companies in North Texas. Cottonwood Financial has been profitable every year
since inception and the company has zero debt. Cottonwood’s growth is funded through internally generated capital
and they plan to expand to 500 locations by the end of 2015.
Rue21
Headquartered just north of Pittsburgh, PA, Rue21 has nearly 1,000 stores in 47 states, not only in shopping malls
but also in outlet and strip centers, allowing customers to have access to the fashion-forward styles they crave.
Rue21 is one of the fastest-growing fashion retail brands in the country and is a specialty discount retailer of young
men and women’s casual apparel and accessories. In 2013, Apax Partners, a global private equity firm, acquired
the company. Rue21 offers the latest trends while staying affordable so customers don’t have to sacrifice style for
savings.
Shannon Clinic
For more than 80 years, Shannon Medical center has been serving the county and growing with the community while
serving its healthcare needs. Patients can expect to receive the same level of care and services from the same doctors
they would see at a medical center. Along with comprehensive primary care, the clinic will provide on-site radiology
services including x-ray, bone densitometry screening, on-site laboratory services, and cardiac testing.
Big Spring Crossing | 7
Tenants
Complete Nutrition
Complete Nutrition is the nation’s fastest growing nutritional supplement retailer. The company saw its revenue
grow from $5 million in 2008 to over $100 million by 2012. There are now more than 150 stores. The companies
franchisee goals are to establish over 300 $1 million revenue producing stores by the year 2020. Complete
Nutrition utilizes a national real estate firm to help them identify markets as well as locations within that market
that optimize store potential. This team focuses on finding locations that meet minimum traffic criteria and
have co-tenants that cater to the target market.
Papa John’s
Papa John’s Pizza is an American restaurant company and is the fourth largest take-out and pizza delivery restaurant
chain in the United States with headquarters in Jeffersontown, Kentucky, a suburb of Louisville. Papa John’s currently
has more than 4,600 locations in 34 countries around the world. Internationally, there are over 4,000 Papa John’s
establishments, including over 3,200 in the U.S. and the remainder spread among 33 other countries. Third quarter
2014 revenues were $390.4 million, a 12.7% increase from third quarter 2013 revenues of $346.3 million. Third quarter
2014 net income was $16.1 million, compared to a third quarter 2013 net income of $14.3 million.
AT&T
This location is part of GameStop’s Spring Mobile division, a chain of AT&T authorized wireless stores. Spring Mobile
is one of the fastest growing authorized retailers of AT&T wireless service and products. In the last 12 months, Spring
Mobile has more than doubled its size, with over 300+ stores and 100+ franchisees. GameStop’s fourth quarter net
earnings were $220.5 million. Total global sales for the 13-week fourth quarter of 2013 were $3.68 billion, a 3.4%
increase compared to $3.56 billion in the 2012 14-week fourth quarter. Consolidated comparable store sales increased
7.8% compared to the prior year quarter.
Big Spring Crossing | 8
Site Plan
M
entrA Ain
nce Fo
r
87 S
gregg
S
treet
nAiL
SALon
e Marcy drive
noT A pArT
WALMArt PArking
Big Spring Crossing | 9
Site Plan
87 S gre
gg Stree
t
Veterans Administration
Medical center
e Marcy drive
Big Spring
CroSSing
noT
A pArT
noT
A pArT
noT A pArT
Big Spring Crossing | 10
Surrounding Retail
100% OCCUPIED SINCE BUILT IN 2002
Big Spring Crossing | 11
Construction Details
Interior Description
Roof
Standing seam metal roof with
20 year warranty
Foundation
Concrete with reinforced footings 5”
reinforced concrete slab
Framing
Walls
Wood or Metal studs
Finished gypsum board,
commercial plastics
Exterior Walls
Storefront is insulated glass. Walls
above storefront and endwalls are
textured pre-fabricated panels
Electrical
Plumbing
208/120 volt 3 phase service
Individual electric meter for
each tenant space
Individual water meters
provided for each tenant.
HVAC
Fire Protection
Individual HVAC units
sized per individual tenant
requirements
Smoke alarms
Americans with
Disabilities
Properties are ADA compliant.
Big Spring Crossing | 12
Location & Demos
Big Spring, TX Overview
Big Spring is the county seat of Howard County, Texas, at the crossroads of U.S.
Highway 87 and Interstate 20.
This city is nestled in a gorge between two high foothills resulting in beautiful
vistas and an oasis in the West Texas prairie.
It is the largest city between Midland to the west, Abilene to the east, Lubbock
to the north, and San Angelo to the south.
Big Spring has a diverse and varied economy. There is a 5,000 student and
faculty college (Howard College), a VA hospital serving almost 80,000 veterans
in the surrounding counties as well as other stable economic drivers.
Other major industries include manufacturing, wind energy production,
transportation, governmental services, and healthcare.
Population
2010
2014
2019
1-Mile
3-Mile
5-Mile
4,301
4,319
4,400
26,082
28,395
29,765
29,804
32,676
34,155
1-Mile
3-Mile
5-Mile
$54,636
$48,774
$50,101
2014 Household incomes
Average
Top Employers in howard county
Employer
# of Employees*
Big Spring ISD
608
Big Spring State Hospital
600
GEO Group
550
Veterans Administration Hospital426
*Approximate
Big Spring Crossing | 13
A unique HUMAN
RESULTS-DRIVEN
client experience
The capital pacific experience - our daily commitment to our clients
[ www.CapitalPacific.com ]
John Andreini
Rick Sanner
Bob Sanner
Chris Kostanecki
jandreini@capitalpacific.com | (415) 274-2715
CA BRE# 01440360
bsanner@capitalpacific.com | (415) 274-2717
CA BRE# 00869657
For more info on this opportunity please contact:
rsanner@capitalpacific.com | (415) 274-2709
CA BRE# 01792433
ck@capitalpacific.com | (415) 274-2701
CA BRE# 01002010
Copyright © 2015 [Capital Pacific Real Estate Brokerage Company]
In conjunction with TX Licensed Brokers:
Brad and Gavin Kam, Net Realty Advisors
(972) 661-8476 | gavin@netrealtyadvisors.com
10-10-11
Approved by the Texas Real Estate Commission for Voluntary Use
Texas law requires all real estate licensees to give the following information about
brokerage services to prospective buyers, tenants, sellers and landlords.
Information About Brokerage Services
B
efore 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.
intermediary. The written consent must state who will
pay the broker and, in conspicuous bold or underlined
print, set forth the broker’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:
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.
(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.
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
(1) shall treat all parties honestly;
(2) may not disclose that the owner will accept a
price less that 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
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 , 512-936-3000 (http://www.trec.texas.gov)
TREC No. OP-K