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COMMERICAL LAND OPPORTUNTY
18.26 AC ±HIGHLY VISIBLE PARCEL ON
THE SOUTHEAST CORNER OFN WATERFORD OAKS DR.
AND E BELT LINE RD.
OFFERING MEMORANDUMAVAILABLE FOR SALE
$2,739,000 ($150,000/AC)
EVA HORTONManaging Director
ALBERT SPIERSAssociate
PRESENTED BY:
TAMELA THORNTONManaging Director
2
I EXECUTIVE SUMMARY 3
II PROPERTY OVERVIEW 4 -11
III MARKET OVERVIEW 12-17
CEDAR HILL LAND OPPORTUNITY OFFERING MEMORANDUM
Eva HortonManaging Director
Albert SpiersAssociate
TABLE OF CONTENTS
We obtained the information in this offering package from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submittedsubject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates forexample only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
Tamela ThorntonManaging Director
3
Newmark Knight Frank’s Southwest Investment teamin Houston, as an exclusive agent, is pleased toexclusively present the opportunity to acquire a18.26 AC ± land tract in Cedar Hill, TX located onthe southeast corner of N Waterford Oaks Dr. andE Belt Line Rd. This highly visible parcel presentsinvestors with the unique opportunity to own asizeable land tract near Cedar Hill’s primary retailcorridor.
EXECUTIVE SUMMARY IEXECUTIVE SUMMARY
INTEREST OFFERED: 100 Percent Fee Simple
OFFERING PRICE: $2,739,000 ($150,000/AC)
OFFER SUMISSION PROCEDURE:
Seller and Agent will assess the qualification of any partysubmitting a non-binding letter of intent in accordancewith Seller’s objectives. In making this assessment, Sellerwill consider a number of factors including, but not limitedto, price, time frame of closing, and perceived ability ofthe party to complete the transaction.
BID DEADLINE: All submissions must be faxed, emailed or hard copydelivered. Offer should be submitted in the form of anon-binding letter of intent and should specify thefollowing:
Offering Price
Due Diligence Period
Closing
Earnest Money Deposit
Contingencies (if any)
References
Documentation of previously completedtransactions
Sources of funds
Any other information having a direct bearingon investor’s ability to close the proposedtransaction
INVESTMENT HIGHLIGHTS:
Strategically situated within the DFW metroplex located approximately 40minutes southeast of downtown Fort Worth and 20 minutes southwest ofDowntown Dallas.
Densely populated submarket - currently over 168,767 in a 5-mile radius.
Site features a sizable18.26 ± acre parcel of undeveloped land.
Highly-visible property with expansive frontage along Highway 101 andHighway 61.
Located in the northeastern quadrant of a dense retail trade area at theintersection of Belt Line Rd. and Hwy 67, with local area retailers including 24Hour Fitness, Chase Bank, Red Robin, CareNow Urgent Care, JCPenney,Smoothie Factory, Cinemark, Pier 1, Hobby Lobby, Chili’s, DSW ShoeWarehouse, Homegoods, Wells Fargo Bank, and more.
Huge traffic counts - located approximately 2.7 miles east of Hwy 67 with over63,000 CPD at the intersection of Hwy 67 and Belt Line Rd.
Located in affluent Dallas - Fort Worth suburb - average household incomeis $86,271 within a 1 mile radius, well above the national average.
OFFERING SUMMARY :
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LOCATION Southeast corner of N Waterford Oaks Dr. and E Belt Line Rd. Cedar Hill, TX 75115
COUNTY Dallas County
SITE SIZE (AC) 18.26 AC (795,405.6 SF)
TAX PARCEL ID 65087725510020200
ZONING LR - Local Retail
UTILITIES All utilities available subject to independent verification.
FRONTAGE 1180.59’ along E Belt Line Rd.288.91’ along S Waterford Oaks Dr.
2017 TAXES$14,420.09
LOCAL TENANT SAMPLE Methodist Family Health Center, Walmart, National Tire & Battery, ALDI, Exxon, American Eagle Credit Union, Brookdale (Senior Living), O’Reilly Auto Parts, Wash IT Kwik, Cancun’s Ameri-Mex Restaurant, Kwik Car Lube & Tune, AutoZone, Walgreens, Shell, United States Post Office, The Home Depot, Chick-fil-A, Wendy’s, Dollar Tree, Albertsons, CVS, Kohl’s, Marshalls, Hobby Lobby
TRAFFIC MAP:
IIPROPERTY OVERVIEW
PROPERTY OVERVIEW
18.26 ACRES ±
5
PROPERTY LOCATION IIPROPERTY OVERVIEW
SUBJECT PROPERTY
18.26 ACRES ±
6
TAX PARCEL MAP IIPROPERTY OVERVIEW
7
AERIAL MAP IIPROPERTY OVERVIEW
SUBJECT PROPERTY
18.26 ACRES ±
HIGHLANDS ELEMENTARY SCHOOL
661 STUDENTS
WATERFORD OAKS ELEMENTARY SCHOOL
573 STUDENTS
BESSIE COLEMAN MIDDLE SCHOOL796 STUDENTS
CEDAR HILL HIGH SCHOOL
1,670 STUDENTS
8
ZONING MAP IIPROPERTY OVERVIEW
9
PROPERTY PHOTOGRAPHS IIPROPERTY OVERVIEW
Replace
E BELT LINE RD.
S WAT
ERFO
RD O
AKS R
D.
PRIMEROSE AT CEDAR HILL
APARTMENTS132 UNITS
98.5% OCCUPIED
10
Growth & Development:Cedar Hill’s positive growing future is attributed to its prosperous business climate, educationalopportunities, and natural beauty. With a population of nearly 49,600 people, Cedar Hill isexperiencing an influx of both startups and established companies: now is the time to develop in CedarHill.
Cedar Hill Economic Development Corporation has been a huge proponent in the city’s development.Since 2000, the city has added several retail outlets. The opening of The Plaza at Cedar Hill, in the fallof 2000, began the growth. The city currently has over four million square feet of retail and is a highlydiverse, very cosmopolitan community which makes it very progressive. In 2014, Midtown Apartmentswas developed. The $26 million project is a 255-unit, 3-apartment story complex that lies within theCity Center area plan providing residents direct access to outdoor recreation activities, retail andrestaurants.
The City Center Vison Plan is a specific area plan dedicated to transforming Cedar Hill's City Centerinto a walkable, mixed-use destination. The scope of the project is incredibly huge as it centers aroundthe Government Center and includes 800 acres of land from Hillside Village to the Historic Downtownarea. City Council adopted the City Center Development Plan in October 2014, and the implementationof this plan is fully underway.
Business development in the form of light manufacturing, commercial and retail enterprises havesubstantially increased since 1998. Cedar Hill currently has four industrial parks and several largeindustrially zoned tracts of land capable of accommodating almost any industrial development that fitsCedar Hill’s target market.
HRO Arcitects, in association with Berkenbile Landscape Architects, completed schematic designs for asignature park for Cedar Hill. The park, adjacent to City Hall, will serve as a hub in the growing trailsystem in Cedar Hill, and bring together varied groups and individuals in an urban space designed toaccommodate music performance, food trucks, individual and group exercise activities, and natureopportunities including nature trails, water features and a great lawn.
Sometimes referred to as the "hill country of Dallas,” Cedar Hill is a suburb of Dallas and is part of the “Best Southwest” area, which includes the nearbycities of DeSoto, Duncanville, and Lancaster. Located just 16 miles southwest of downtown Dallas, 1001 E Belt Line Rd. is a prime location within the DFWmetroplex. Cedar Hill is a 40 minute drive from downtown Fort Worth and has an abundance of major thoroughfares including I-20, I-35 E, I-45, US 67,and FM 1382 that provide multiple connections anywhere within DFW.
MARKET OVERVIEW IIIMARKET OVERVIEW
11
LOCAL DEMOGRAPHICS IIIMARKET OVERVIEW
Population Demographics Average Income
49,59740%
Total Residents Higher Education Labor Force
26,742People
MedianHousehold
Income
$70K $63K
Top Jobs By Occupation
Office and Administrative Support
13.87%
Sales
13.02%
Executives, Managers and Administrators
11.4%
Food Preparation, Serving
7.81%
Education, Training/ Library
6.59%
MedianHousehold Expenditure
9561,1331,6541,8892,012
IIIMARKET OVERVIEW
COMMUNITY SNAPSHOT
13
TRAFFIC CONJESTION MAP IIIMARKET OVERVIEW
This map was produced using reliable private and government sources. This information is provided without representation or warranty.
14
AREA DENSITY MAP IIIMARKET OVERVIEW
This map was produced using reliable private and government sources. This information is provided without representation or warranty.
15
Q+A: CEDAR HILL’S HIKE & BIKE TRAIL IN THE MIDST OF CONSTRUCTION – August 6, 2018
Through partnerships with state, local, and nonprofit organizations, the City is currently constructing a hike and bike trail alongFM 1382 to provide recreational access to these tremendous natural resources. In early 2018, construction began on Phase IIof the FM 1382 Hike and Bike Trail, from the entrance to Cedar Hill State Park to the city limits. This section of the trail willinclude a pedestrian bridge spanning a drainage ravine and the installation of an architectural overlook and amenity station.Source: https://dallasinnovates.com/qa-cedar-hills-hike-bike-trail-in-the-midst-of-construction1231/
CEDAR HILL, JIM LAKE COMPANIES ANNOUNCE MIXED-USE DEVELOPMENT PROJECT IN HISTORIC DOWNTOWN – June 19, 2018
The 40,000-square foot project, located at W. Belt Line Road and Broad Street, will offer a mix of uses, including retail,restaurant, and office space. Approval of the agreement marks the beginning of initial phases of the project; construction isexpected to begin in mid-2019 and to be completed in 2021.Source: https://www.cedarhilltx.com/CivicAlerts.aspx?AID=1350
CONSTRUCTION PROJECTS TAKE SHAPE IN CEDAR HILL’S MIDTOWN AREA – January 15, 2018
The midtown area is part of an overall strategic plan for the City Center. It is a specific area plan dedicated to transformingCedar Hill's City Center into a walkable, mixed-use destination that will have a sense of place. City Center consists of threesub-districts referred to as Uptown, Midtown and Historic Downtown. The City created a Tax Increment Financing (TIF) Zone asa tool to dedicate funds for public improvements in the district. Construction projects in midtown prove that visioning andplanning go a long way in the development process. New additions include a Fairfield Inn & Suites hotel and additional diningoption Hooter’s. Projected completion date on these projects, weather permitting, is second quarter of this year.Source: http://www.cedarhilledc.com/Construction_projects_take_shape_in_Cedar_Hill_Midtown_area
PROGRESS ON US 67 EXPANSION PROJECT IN CEDAR HILL – October 16, 2017
Progress has begun on the US 67 Expansion Project in Cedar Hill, Texas. The project will add capacity to the highway, as wellas rebuild the ramps within the project limits. The project stretches from Beltline Road to Wheatland Road and runs throughthree cities: Cedar Hill, Duncanville, and Dallas. At Belt Line and FM 1382 crossings, Texas U-Turns will be added. Texas U-Turns allow vehicles to make a U-Turn before entering the intersection. This reduces traffic volume and congestion through theintersection. Construction began on September 25. The new lane and ramps could expect to be open in the fall of 2019.Source: http://atlanta.curbed.com/2016/4/7/11379650/plans-announced-howell-station-mixed-use
NEWS & DEVELOPMENT – CEDAR HILL, TX IIIMARKET OVERVIEW
CEDAR HILL WELCOMES NEW MEDICAL OFFICE DEVELOPMENT – March 28, 2017
A groundbreaking ceremony was held March 28, 2017, to welcome a future development at the southeast corner of Joe WilsonRd & Pleasant Run Rd. The development will come in two phases: (1) construction on a 4,920 sf medical office, (2) futureconstruction to include a 7,000 sf structure on the 4.642 acre site.Source: http://www.cedarhilledc.com/Breaking_Ground_on_New_Medical_Office_Legacy_Crossing
www.ngkf.com
Eva HortonManaging DirectorT [email protected]
Tamela ThorntonManaging DirectorT [email protected]
Albert SpiersAssociateT [email protected]
Houston1700 Post Oak Blvd.2 BLVD Place, Suite 250Houston, TX 77056713.626.8888
11-2-2015
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 the 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:
ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ 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.
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.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone
