PINE VILLAGE SHOPPING CENTER 1000 1020 North Street...Pine Village Shopping Center Overview Pine...

PINE VILLAGE SHOPPING CENTER 1000 – 1020 North Street

Nacogdoches, Texas 75961

Glenn EiknerOffice (903) 534-1200Cell (903) 352-1724Fax (903) [email protected]

FOR SALE

909 ESE Loop 323, Suite 650Tyler, Texas 75701www.burns-commercial.com

Pine Village Shopping Center

Pine Village Table of Contents

PROPERTY INFORMATION:

Aerial Photography………………………………………………………………………………………………………Pg. 3Overview/Property Description……………………………………………………………………………………Pgs. 4-5

MARKET ANALYSIS:

Demographics………………………………………………………………………………………………………………..Pgs. 6-8Site Plan, Lease Plan, Survey & Legal Description…………………………………………………………..Pgs. 9-11

POTENTIAL PAD SITE:………………………………………………………………………………..….……………………………..Pgs. 12-13

RENT ROLL & PROJECTED NOI : …………………………………………………………………………………………….…….Pgs. 14-15

LEASE ABSTRACTS…………….……………………………………………..………………………………….………….……..……Pgs. 16-34

STEVEN F. AUSTIN STATE UNIVERSITY


Pine Village Shopping Center Overview

Pine Village is a 43,282 square foot retail property situated at

the center of Nacogdoches, an East Texas college town

about 90 miles southwest of Shreveport, Louisiana and 140

miles northeast of Houston, Texas that has approximately

65,000 full-time area residents and approximately 13,000

students. The property is on the east side of North Street, the

primary north-south corridor serving the market, and just

north of Powers Street. This is an ideal location less than

one mile south of the campus of Stephen F. Austin

University. Tenants of Pine Village benefit from

straightforward access and clear visibility along this primary

retail corridor near Nacogdoches Memorial Hospital.

ADDRESS:

SIZE:

LOCATION:

PARKING:

YEAR BUILT:

OCCUPANCY:

TRAFFIC COUNT:

PARKING:

At the center of Nacogdoches, part of the main

north-south corridor

1000 – 1020 North Street,

Nacogdoches, Texas 75961

Approximately 43,282 square feet on +/-5.861 acres

1960

Approximately 210 spaces

88.98%

20,000 cars per day (North Street)

Approximately 210 spaces

SALE PRICE: $5,300,000.00


Property Description

INVESTMENT OVERVIEW

Address:Total Size (NRSF):Land Area:Year Built:Number Of Tenants:Physical Occupancy:

1000 North Street, Nacogdoches, TX 7596143,282 Square Feet± 5.861 Acres (255,306 s.f.)19609 (10 units total, 8 currently occupied plus ice machine lease)88.98%

UNDEVELOPED PAD SITE

An undeveloped pad site at the South entrance to the center offers an opportunity to expand the center by 5 – 7,000 s.f. of retail space with potential bay sizes from 1,200 to 7,000 square feet.

CONSTRUCTION DETAILSZoning:Improvements:Building Exterior:

Roof:Site Pavement:Site Lighting:

PARKING Total Spaces:Parking Ratio:

B-2, General Business1 building, 1 storyPainted brick and stucco façade with stone accents and metalawnings over standard aluminum-framed, plate glassstorefronts and doors; rear of building has metal doors andloading docks with cargo doors.Flat roof, with mounted HVACs.Asphalt-covered parking lot with concrete curbs and sidewalks.Wall mounted and metal halide poles.

Approximately 210 spaces total.4.85 per 1,000 NRSF


Pine Village Market Analysis

Nacogdoches

• Nacogdoches County (population approx. 65,466) is located deep in Texas Forest Country. Nacogdoches (population approx. 33,405),the largest city in the county, is the home of Steven F. Austin State University. Fall 2013 enrollment was over 13,000 students.

• The racial and ethnic composition of the permanent population was 51% non-Hispanic white, 28.4% non-Hispanic Black and 16.8% Hispanic or Latino at the 2010 Census.

GENERAL DEMOGRAPHICS

Texas is experiencing the fastest population growth in the country and the decade-long pattern of domestic migration continuesto be a very strong part of Texas’ growth. As we add more than 1,000 people a day, each new Texan and new business increasesdemand in the state and our economy is relatively healthy and improving. Texas led the nation by gaining 387,397 residentsfrom July 2012 through June 2013 or 1.5%.

Texas led the nation in job growth for the fourth straight year in 2013, reflecting the state’s strength and resilience recoveringfrom the recession that ended in mid-2009. Texas’ unemployment rate fell to 6% in December, from 6.2% a year earlier – lowerthan the US jobless rate, which declined from 7.9% a year earlier. Although Texas’ job growth last year was broad-based, theenergy industry played a large role. Oil and gas is a big reason Houston and Dallas have ranked high nationwide in job creationduring the recovery. But, it also drove growth in related industries, such as petrochemical and manufacturing. Other majorindustries include electronics, airlines, cattle, cotton and lumber.

TEXAS

ECONOMY / EMPLOYMENT

• Besides the stable anchor that Stephen F. Austin State University provides the Nacogdoches job market, roughly 25 companies with 100 ormore employees operate facilities in Nacogdoches, two of which have over 1,600 employees.

• Nacogdoches ranks No. 7 out of 254 Texas counties in agricultural production, with the poultry, cattle and timber industries having served as the foundation of the local agricultural economy for decades.

• Over the past four years, Nacogdoches County has seen a net gain of nearly 1,400 new jobs, most at salaries well above the prevailing local wage rate.

• Recently, Cooper Power Systems, Parker Hannifin, Lee Container and Mast Motorsports have experienced major expansions, while Select Energy Services, Exco Operating Company and EOG Resources have each opened major operating facilities in the county.

• Southern Power Company’s $475 million biomass power generating facility, the largest in the United States, began operation in June 2012.• Nacogdoches was one of the first three communities in Texas to be recognized as a Certified Retirement Community. This state program

recognizes communities that are exemplary in several areas, including housing safely, working opportunities, healthcare services and transportation.


Pine Village Market Analysis

• Nacogdoches is located at the intersection of U.S. Highway 59, State Highway 21, and State Highway 7. Nacogdoches is 65 miles south ofInterstate 20. It is located approximately 140 miles northeast of Houston, Texas, 90 miles southwest of Shreveport, Louisiana and 160miles southeast of Dallas, Texas.

LOCATION

EDUCATION

• Steven F. Austin State University, opened in 1923, graduated its largest class with 1,287 students participating in the May 2013 ceremonies.The growing school attracts over 13,000 students to Nacogdoches and its beautiful 418-acre campus.

HEALTHCARE

• Healthcare providers include two major hospitals, two outpatientsurgery centers, home-based and community-based health services,skilled nursing care, rehabilitation facilities, urgent care clinics andassisted living centers.

• Nacogdoches Memorial Hospital has been serving the area for morethan 80 years. The general and surgical hospital has 216 beds. It is theonly Level III Trauma Center in the region.

• The Nacogdoches I.S.D. consists of nine schools serving K-12, Domus Development recently added the 310-unit Lumberjack

Lofts, an upscale student housing community located on the west side of Pearl Street, within walking distance to the university.

• The Nacogdoches I.S.D consists of nine schools serving K-12,

including Nacogdoches High School.


1-mi. 3-mi. 5-mi.

Population

2013 Male Population 2,772 15,223 19,607

2013 Female Population 3,625 17,973 22,363

% 2013 Male Population 43.33% 45.86% 46.72%

% 2013 Female Population 56.67% 54.14% 53.28%

2013 Total Population: Adult 5,968 26,676 32,661

2013 Total Daytime Population 9,691 43,135 49,490

2013 Total Employees 6,159 23,654 24,809

2013 Total Population: Median Age 21 25 25

2013 Total Population: Adult Median Age 20 36 38

2013 Total population: Under 5 years 181 2,138 2,976

2013 Total population: 5 to 9 years 103 1,803 2,610


2013 Total population: 15 to 19 years 2,191 4,441 5,114

2013 Total population: 20 to 24 years 2,403 7,067 7,682









2013 Total population: 65 to 69 years 46 963 1,303

2013 Total population: 70 to 74 years 35 719 939



2013 Total population: 85 years and over 29 611 682

% 2013 Total population: Under 5 years 2.83% 6.44% 7.09%

% 2013 Total population: 5 to 9 years 1.61% 5.43% 6.22%
















% 2013 Total population: 85 years and over 0.45% 1.84% 1.62%

2013 White alone 3,886 19,353 24,864

2013 Black or African American alone 1,875 9,540 10,477

2013 American Indian and Alaska Native alone 22 177 209

2013 Asian alone 147 570 731

2013 Native Hawaiian and OPI alone 5 20 20

2013 Some Other Race alone 316 2,802 4,744

2013 Two or More Races alone 146 734 925

2013 Hispanic 811 5,639 8,921

2013 Not Hispanic 5,586 27,557 33,049

% 2013 White alone 60.75% 58.30% 59.24%

% 2013 Black or African American alone 29.31% 28.74% 24.96%

% 2013 American Indian and Alaska Native alone 0.34% 0.53% 0.50%

% 2013 Asian alone 2.30% 1.72% 1.74%

% 2013 Native Hawaiian and OPI alone 0.08% 0.06% 0.05%

% 2013 Some Other Race alone 4.94% 8.44% 11.30%

% 2013 Two or More Races alone 2.28% 2.21% 2.20%

1-mi. 3-mi. 5-mi.

Population

% 2013 Hispanic 12.68% 16.99% 21.26%

% 2013 Not Hispanic 87.32% 83.01% 78.74%

2000 Not Hispanic: White alone 4,248 18,230 22,430

2000 Not Hispanic: Black or African American alone 1,210 7,267 7,899

2000 Not Hispanic: American Indian and Alaska Native alone 16 68 80

2000 Not Hispanic: Asian alone 78 280 356

2000 Not Hispanic: Native Hawaiian and OPI alone 8 15 15

2000 Not Hispanic: Some Other Race alone 14 23 23

2000 Not Hispanic: Two or More Races 71 275 327

% 2000 Not Hispanic: White alone 69.23% 62.02% 61.89%

% 2000 Not Hispanic: Black or African American alone 19.72% 24.72% 21.80%

% 2000 Not Hispanic: American Indian and Alaska Native alone 0.26% 0.23% 0.22%

% 2000 Not Hispanic: Asian alone 1.27% 0.95% 0.98%

% 2000 Not Hispanic: Native Hawaiian and OPI alone 0.13% 0.05% 0.04%

% 2000 Not Hispanic: Some Other Race alone 0.23% 0.08% 0.06%

% 2000 Not Hispanic: Two or More Races 1.16% 0.94% 0.90%

Population Change

Total: Employees (NAICS) n/a n/a n/a

Total: Establishements (NAICS) n/a n/a n/a

2013 Total Population 6,397 33,196 41,970

2013 Households 1,605 11,898 14,701

Population Change 2010-2013 257 1,370 1,967

Household Change 2010-2013 14 132 261

% Population Change 2010-2013 4.19% 4.30% 4.92%

% Household Change 2010-2013 0.88% 1.12% 1.81%

Population Change 2000-2013 261 3,803 5,731

Household Change 2000-2013 -64 908 1,408

% Population Change 2000 to 2013 4.25% 12.94% 15.81%

% Household Change 2000 to 2013 -3.83% 8.26% 10.59%

Housing

2000 Housing Units 1,882 12,118 14,648

2000 Occupied Housing Units 1,669 10,990 13,293

2000 Owner Occupied Housing Units 238 4,592 6,393

2000 Renter Occupied Housing Units 1,431 6,398 6,900

2000 Vacant Housings Units 213 1,128 1,355

% 2000 Occupied Housing Units 88.68% 90.69% 90.75%

% 2000 Owner occupied housing units 14.26% 41.78% 48.09%

% 2000 Renter occupied housing units 85.74% 58.22% 51.91%

% 2000 Vacant housing units 11.32% 9.31% 9.25%

2013 Household Income: Median $21,331 $27,083 $31,049

2013 Household Income: Average $30,569 $41,168 $44,629

2013 Per Capita Income $15,929 $17,538 $17,894

2013 Household income: Less than $10,000 456 2,267 2,447

2013 Household income: $10,000 to $14,999 185 1,245 1,422

2013 Household income: $15,000 to $19,999 125 1,221 1,350

2013 Household income: $20,000 to $24,999 137 863 963







2013 Household income: $60,000 to $74,999 68 685 1,236

2013 Household income: $75,000 to $99,999 64 849 1,114




2013 Household income: $200,000 or more 1 190 223

DEMOGRAPHICS



Site Plan


Lease Plan

Potential Pad Site



Pad Site Study

Lease Abstracts Apria Healthcare

Square Footage: 2,983

Specific Use:

Documentation: Original lease dated July 31, 2000, first amendment dated September 1, 2005, and new lease dated January 20, 2011.

Rent Commencement Date: September 1, 2000

Lease Expiration Date: August 31, 2015

Term: 5 years + 2 years + 3 years + 5 years

Security Deposit: $1,665.00

Base Rent:

Premises may be used for (i) general warehouse and distribution uses, (ii) general office uses, (iii) the operation of a non-retail pharmacy for the compounding of pharmaceuticals but not for the sale of pharmaceuticals to the general public and (iv) support for infusion and respiratory therapy and reasonably related purposes.

Period Annually Monthly $/SF/Year

September 1, 2000 – August 31, 2005 $19,980.00 $1,665.00 $6.70

Term 1: September 1, 2005 – August 31, 2006 $23,160.00 $1,930.00 $7.76

Extension Terms:

New Lease:


Term 1: September 1, 2006 – August 31, 2007 $23,736.00 $1,978.00 $7.96Term 2: September 1, 2007 – August 31, 2010* $25,512.00 $2,126.00 $8.55


* The second extension option is assumed, but no lease documentation is available for this period. The rental rate is assumed based on what was cited for that option period in the first amendment to the original lease, but this may or may not have been the actual rate. Also, note that the Tenant reimbursed both insurance and Real Estate Tax costs on a basis of increases over a base year (2,000, then 2004), whereas the reimbursement method under the new lease is NNN.

Renewal Options: None.

CAM Payments: Tenant shall pay its pro rata share of all CAM expenses.

Insurance Payments: Tenant shall pay its pro rata share of Insurance expenses.


RE Tax Payments: Tenant shall pay its pro rata share of Real Estate Tax expenses.

Utilities: Tenant shall promptly pay all charges for electricity, water, gas, telephone service, sewage service and other utilities furnished to the premises.

Breakpoint: N/A

Tenant shall keep the leased premises in good, clean and habitable condition and shall at its sole cost and expense make all neededrepairs and replacements which includes without limitation: lighting, heating, air conditioning, fire-protection sprinkler systems,plumbing, kitchen exhaust systems, and other electrical, mechanical and electromotive installation, equipment and fixtures, ducts,conduits, pipes and wiring, and any sewer stoppage located in, under and above the leased premises. Tenant is responsible for thepreventive maintenance to the HVAC.

Lease Abstracts Apria Healthcare

Exclusives/Restrictions: N/A

Percentage Rent: N/A

Landlord Maintenance:

Executor: Apria Healthcare, Inc.

Co-Tenancy/Termination: N/A

Estoppel Certificate: Tenant shall provide an estoppel certificate within 30 days upon request by the Landlord.

Additional Information: N/A

Landlord shall maintain and keep the foundation, the exterior walls (except plate glass; windows, doors and otherexterior openings, window and door frames, moulding, closure devices, locks and hardware, special store fronts;lighting, heating, air conditioning, plumbing and other electrical, mechanical and electromotive installation equipmentand fixtures; signs, placards, decorations or other advertising media of any type; and interior painting or othertreatment of interior walls), exterior walls and roof of the leased premises in good repair.

Tenant Maintenance:


Lease Abstracts Buddy’s Home Furnishings


Specific Use:

Documentation: Lease dated December 30, 2010 and first amendment dated January 12, 2011.

Rent Commencement Date: July 1, 2011

Lease Expiration Date: March 31, 2017

Term: 5 years and 9 months


Base Rent:

Premises shall be used primarily for rent to own services, leases and sales of furniture. Consumer electronics and appliances, with ancillary operations of tax refund services only to the extent such services are marketed to tenant’s customers that have paid for some other use and/or service authorized and for no other use.


July 1, 2011 – March 31, 2012 $30,000.00 $2,500.00 $4.37

Term 1: April 1, 2017 – March 31, 2020 $54,510.50 $4,542.54 $7.95

Remaining Renewal Options:

Term 2: April 1, 2020 – March 31, 2023 $57,781.13 $4,815.09 $8.42

Renewal Option(s): 2, 3-year renewal options remaining. Tenant must provide written notice not less than 6 months prior.

CAM Payments: Tenant shall pay its pro rata share of all CAM expenses.


April 1, 2012 – March 31, 2017 $60,000.00 $5,000.00 $8.75



Tenant Maintenance: Tenant shall keep the leased premises in good, clean and habitable condition and shall at its sole cost and expense make all neededrepairs and replacements which includes without limitation: lighting, heating, air conditioning, fire-protection sprinkler systems,plumbing, kitchen exhaust systems, and other electrical, mechanical and electromotive installation, equipment and fixtures, ducts,conduits, pipes and wiring, and any sewer stoppage located in, under and above the leased premises. Tenant is responsible for thepreventive maintenance to the HVAC.


Breakpoint: N/A

Lease Abstracts Buddy’s Home Furnishings




Executor: Value Wise Rent to Own, LLC




Landlord shall maintain and keep the foundation, the exterior walls (except plate glass; windows, doors and otherexterior openings, window and door frames, moulding, closure devices, locks and hardware, special store fronts;lighting, heating, air conditioning, plumbing and other electrical, mechanical and electromotive installation equipmentand fixtures; signs, placards, decorations or other advertising media of any type; and interior painting or othertreatment of interior walls), exterior walls and roof of the leased premises in good repair.


Lease Abstracts H & R Block

Square Footage (current): 2,100

Specific Use:

Documentation: Original lease dated May 8, 1994, second lease dated October 7, 2003, lease renewal dated May 6, 2008, and newest

Rent Commencement Date: August 1, 1994

Lease Expiration Date: May 31, 2017

Term: 2 years and 9 months +3 years + 3 years and 5 months + 5 years + 3 years and 8 months

Security Deposit: None

Base Rent:

Premises may be used for the purpose of providing to the public the preparation of Income Tax Returns, Electronic Filing of Income Tax Returns, Facilitation of Refund Anticipation Loans, Public Income Tax Courses and Financial Services and other related general activities.


August 1, 1994 – July 31, 1995 $12,000.00 $1,000.00 $6.00

Term 1: May 1, 1997 – April 30, 2000* $14,400.00 $1,200.00 $7.20

Renewal Option Exercised:

Square Footage (original): 2,000

lease dated January 1, 2014, and first lease amendment dated January 2, 2014.

August 1, 1995 – July 31, 1996 $13,200.00 $1,100.00 $6.60 August 1, 1996 – April 30, 1997 $14,400.00 $1,200.00 $7.20

Undocumented Period:

May 1, 2000 – September 30, 2003**

October 1, 2003 – September 30, 2008 $16,200.00 $1,350.00 $8.10

Second Lease Term:

Term 1: October 1, 2008 – September 30, 2013 $18,000.00 $1,500.00 $9.00

Renewal Option Exercised:



Renewal Option(s): None remaining.

CAM Payments:


* The first renewal option is assumed, but no lease documentation is available for this period. The rental rate is assumedbased on what was cited for that option period in the original lease, but this rate may or may not have been the actual rate.Also, note that the Tenant previously reimbursed both Insurance and Real Estate Tax expenses on a basis of increases over abase year (1993), whereas the reimbursement method under the new lease is NNN.** No lease documents or information is available for the undocumented period from May 2000 through September 2003.

New Lease Term:

June 1, 2015 – May 31, 2017 $18,900.00 $1,575.00 $9.00October 1, 2013 – May 31, 2015 $17,157.00 $1,429.75 $8.17

Tenant shall pay its pro rata share of all CAM expenses. Lease indicated Tenant pays an additional 15% of CAM expenses as overhead costs, but these have never been charged.


Utilities: Tenant shall promptly pay all charges for electricity, water, gas (but only if provided by Landlord), telephone service,sewage service and other utilities furnished to the premises.

Tenant Maintenance: Tenant shall keep the leased premises in good, clean and habitable condition and shall at its sole cost and expense make allneeded repairs and replacements which includes without limitation: cracked or broken glass, lighting, heating, airconditioning, fire-protection sprinkler systems, plumbing, kitchen exhaust systems, grease traps and roof grease protectionsystems, and other electrical, mechanical and electromotive installation, equipment and fixtures, ducts, conduits, pipes andwiring, and any sewer stoppage located in, under and above the leased premises. Tenant is responsible for the preventivemaintenance to the HVAC.

Breakpoint: N/A



Executor: JACS, Inc.

Landlord shall maintain and keep the foundation, the exterior walls (except plate glass; windows, doors and other exterioropenings, window and door frames, moulding, closure devices, locks and hardware, special store fronts; lighting, heating,air conditioning, plumbing and other electrical, mechanical and electromotive installation equipment and fixtures; signs,placards, decorations or other advertising media of any type; and interior painting or other treatment of interior walls),exterior walls and roof of the leased premises in good repair.



Exclusives/Restrictions:




Landlord shall not permit any firm other than JACS, Inc. to engage principally or incidentally in the business of preparing income tax returns or the electronic filing of income tax returns or the facilitation of refund anticipation loans.


Lease Abstracts Hospice of East Texas Shop


Specific Use:

Documentation: Lease dated June 21, 2011 and first amendment dated January 20, 2014.

Rent Commencement Date: October 1, 2011

Lease Expiration Date: June 30, 2017

Term: 3 years


Base Rent:

Premises may be used as a resale shop of consumer goods and for no other purpose


July 1, 2011 – September 30, 2011 $0.00 $0.00 $0.00

Term 1: July 1, 2014 – January 31, 2015 $54,000.00 $4,500.00 $6.40

Extension Term:

Term 2: February 1, 2015 – June 30, 2017 $60,000.00 $5,000.00 $7.12

Renewal Option(s): None.

CAM Payments: None.

Insurance Payments: None.

October 1, 2011 – June 30, 2013 $48,000.00 $4,000.00 $5.69

RE Tax Payments: None.


Tenant Maintenance: Tenant will not damage the Premises and will pay the cost of repairing any damage done to the Premises by Tenant or Tenant’sagents, employees, or invitees. Tenant shall keep the Premises free of waste and nuisance and in good condition.

July 1, 2013 – June 30, 2014 $54,000.00 $4,500.00 $6.40


Breakpoint: N/A

Lease Abstracts Hospice of East Texas Shop




Executor: Hospice of East Texas


Estoppel Certificate: Tenant shall provide an estoppel certificate upon request by the Landlord.


Landlord shall provide and maintain the facilities necessary to supply water, electricity, gas (if applicable), telephoneservice and sewerage service to the Premises.


Lease Abstracts KDLS Ice House

Square Footage: 253

Specific Use:

Documentation: Lease dated June, 2012.

Rent Commencement Date: August 15, 2012

Lease Expiration Date: August 14, 2017

Term: 5 years

Security Deposit: $500.00

Base Rent:

Premises may be used only for the construction, operation, repair and maintenance of an ice and water vending machine and for no other purpose.


August 15, 2012 – August 14, 2017 $6,000.00 $500.00 $23.72

Renewal Option(s): None.

CAM Payments: None.

Insurance Payments: None.

RE Tax Payments: None.

Utilities: Tenant shall supply, at its sole cost and expense, all utilities needed to operate within the premises.

Tenant Maintenance: Tenant will not damage the Shopping Center and will pay the cost of repairing any damage done to the Property by Tenant orTenant’s agents, employees, or invitees. Tenant shall keep the Premises free of waste and nuisance and in good condition.

* The square footage above is the actual size of the mini-outparcel per the Lease, but is not included in Property’s net size.

Breakpoint: N/A



Executor: KDLS Ice House

Landlord shall provide and maintain the facilities necessary to supply water, electricity, gas (if applicable), telephone service andsewerage service to the Premises.


Lease Abstracts KDLS Ice House






Lease Abstracts Kim’s Nail Spa


Specific Use:

Documentation: Lease dated July 14, 2009 and first amendment dated January 2, 2014.

Rent Commencement Date: January 5, 2010

Lease Expiration Date: December 31, 2017

Term: 5 years + 3 years and 1 month


Base Rent:

Premises may be used for the operation of a nail salon and a massage parlor and for no other use or purpose.


November 6, 2009 – January 4, 2010 $0.00 $0.00 $0.00

Term 1: December 1, 2014 – December 31, 2017 $24,000.00 $2,000.00 $15.00

Extension Term:

Renewal Option(s):

CAM Payments:


January 5, 2010 – November 30, 2014 $24,000.00 $2,000.00 $15.00


Utilities: Tenant shall promptly pay all charges for electricity, water, gas (but only if provided by Landlord), telephone service, sewage service and other utilities furnished to the premises.

Term 1: January 1, 2018 – December 31, 2022 $27,600.00 $2,300.00 $17.25

Remaining Renewal Option:

1, 5-year renewal option remaining. Tenant must provide written notice of not more than 12 months and not less than 9 months prior.

Tenant shall pay its pro rata share of all CAM expenses. Lease indicates Tenant pays an additional 15% of CAM expenses as overhead costs, but these have never been charged.


Lease Abstracts Kim’s Nail Spa





Tenant Maintenance:

Breakpoint: N/A



Executor: Hang Nguyen

Tenant shall keep the leased premises in good, clean and habitable condition and shall at its sole cost and expense make allneeded repairs and replacements which includes without limitation: cracked or broken glass, lighting, heating, airconditioning, fire-protection sprinkler systems, plumbing, kitchen exhaust systems, grease traps and roof grease protectionsystems, and other electrical, mechanical and electromotive installation, equipment and fixtures, ducts, conduits, pipes andwiring, and any sewer stoppage located in, under and above the leased premises.

Landlord shall maintain and keep the foundation, the exterior walls (except plate glass; windows, doors and other exterioropenings, window and door frames, moulding, closure devices, locks and hardware, special store fronts; lighting, heating,air conditioning, plumbing and other electrical, mechanical and electromotive installation equipment and fixtures; signs,placards, decorations or other advertising media of any type; and interior painting or other treatment of interior walls),exterior walls and roof of the leased premises in good repair.


Lease Abstracts La Michoacana


Specific Use:

Documentation:

Rent Commencement Date: November 1, 2003

Lease Expiration Date: October 31, 2018

Term: 5 years + 5 years + 5 years


Base Rent:

Premises may be used as a Mexican meat market and grocery and for no other use or purpose.


November 1, 2003 – October 31, 2008 $45,600.00 $3,800.00 $ 7.60

Term 1: November 1, 2008 – October 31, 2013 $52,800.00 $4,400.00 $ 8.80

Renewal Options Exercised:

Renewal Option(s):

CAM Payments:


RE Tax Payments: Tenant shall pay its pro rata share of Real Estate Tax expenses above the 2003 base year amount ($0.78 psf).

Utilities: Tenant shall promptly pay all charges for utility services to the leased premises.

None remaining.

Tenant shall pay its pro rata share of all CAM expenses.

Lease dated October 29, 2003, first renewal option exercise letter dated September 8, 2008, second renewal option exercise letter dated July 22, 2013.

Term 2: November 1, 2013 – October 31, 2018 $61,200.00 $5,100.00 $10.20

Tenant Maintenance: Tenant shall keep the premises in good, clean condition and shall at its sole cost and expense make all needed repairs and replacements, including replacement of cracked or broken glass, except for repairs and replacements required to be made by the Landlord. Landlord Maintenance: Landlord shall maintain and keep the foundation, the exterior walls (except glass, windows, doors, door closure devices, window and door frames, moulding, locks, hardware and interior painting or other treatment of exterior walls), the roof and HVAC, in good repair.


Lease Abstracts La Michoacana






Breakpoint: N/A

Executor: Celina Ortiz, d/b/a Christina’s Meat Market, LTD, La Michoacana #16


Lease Abstracts The Wound Care Center


Specific Use:

Documentation:

Rent Commencement Date: December 27, 2012

Lease Expiration Date: December 31, 2022

Term: 10 years

Security Deposit: $0.00

Base Rent:

Premises shall be used for the operation of a wound care clinic and the provision of medical services related thereto and for noother purpose.


December 27, 2012 – December 31, 2017 $97,588.56 $8,132.38 $22.25

Term 1: January 1, 2022 – December 31, 2026 $106,141.20 $8,845.10 $24.20

Remaining Renewal Option:

CAM Payments:



Utilities: Tenant shall promptly pay all charges for electricity, water, gas, telephone service, sewage service and other utilities furnished to the premises..

* Original base rental amounts in Lease ($7,492.75 per month for first 5 years, then $8,041.00) were increased by 8.5367% due to increase in construction allowance to Tenant Not the case for option period.

Tenant shall pay its pro rata share of all CAM expenses.

Lease dated July 12, 2012, lease addendum dated July 12, 2012 and first amendment dated January 2, 2013.

Tenant Maintenance: Tenant shall keep the premises in good, clean and habitable condition and shall at its sole cost and expense keep the premisesfree of insects, rodents, vermin and other pests and make all needed repairs and replacements, including replacement ofcracked or broken glass, except for repairs and replacements required to be made by the Landlord. Tenant’s responsibilitiesinclude the repairs and replacement of all lighting, heating, air conditioning, plumbing and other electrical, mechanical andelectromotive installation, equipment and fixtures and also include all utility repairs in ducts, conduits, pipes and wiring and any

January 1, 2018 – December 31, 2022 $104,737.68 $8,728.14 $23.88

Renewal Option(s) 1, 5-year renewal option remaining. Tenant must provide written notice not less than 180 days prior.


Lease Abstracts The Wound Care Center






Breakpoint: N/A

Executor: TH Healthcare, Ltd.

sewer stoppage located in, under and above the leased premises. Tenant is responsible for the preventive maintenance tothe HVAC

Landlord Maintenance: Landlord shall maintain and keep the foundation, the exterior walls (except plate glass; windows, doors and other exterioropenings, window and door frames, moulding, closure devices, locks and hardware, store fronts; signs, placards,decorations or advertising media of any type; and interior painting or other treatment of interior walls), and the roof of theshopping center, in good repair.


Lease Abstracts Texas Home Health


Specific Use:

Documentation:

Rent Commencement Date: July 23, 2009

Lease Expiration Date: July 31, 2016

Term: 7 years


Base Rent:

Premises may be used for the operation of a home health care agency that supplies health care professionals that provide health services on location & general business office and for no other purpose.


July 23, 2009 – July 31, 2014 $64,365.00 $5,363.75 $10.50

CAM Payments:



Utilities: Tenant shall pay for all utilities furnished to the premises.

Tenant shall pay its pro rata share of all CAM expenses. Overall NNN charges shall not increase on an overall cumulative basis by more than 7% in any calendar year.

Lease dated March 19, 2009 and rent commencement and acceptance of occupancy letter dated July 23, 2009.

Tenant Maintenance: Tenant shall at its own cost and expense, keep the interior of the leased premises (including without limitation, windows, doors,glass, fixtures, equipment and all other components or parts of the premises which landlord has not expressly agreed tomaintain or repair) in a good and safe condition of repair and in good working order (making such renewals and replacements asmay be necessary), including, without limitation, performing adequate preventive maintenance on the heating, ventilation andair-conditioning equipment. Tenant’s responsibilities also include the maintenance, repair and replacement of HVAC, fire-protection sprinkler systems, plumbing, kitchen exhaust systems and other electrical, mechanical and electromotive installation,equipment and fixtures. In addition, tenant’s responsibilities shall also include all repairs in ducts, conduits, pipes and wiring, andany sewer stoppage located in, under and above the leased premises.

August 1, 2014 – July 31, 2016 $74,019.72 $6,168.31 $12.07

Renewal Option(s) None.


Lease Abstracts Texas Home Health

Exclusives/Restrictions:





Breakpoint: N/A

Executor: Texas Home Health of America, L.P.

Landlord Maintenance: Landlord shall make such repairs or replacements to the common areas, utility lines servicing the premises or any commonareas, exterior of the leased premises (including the roof, gutters, downspouts and outside walls, glass and doors), and buildingsystems, including electrical, plumbing and HVAC as may be necessary to keep the same in good condition or repair in keepingwith similar shopping centers.

During the term including any renewal term, Landlord agrees not to lease space elsewhere in the building to any other tenantengaged in the same business of the tenant.


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