Capital Markets |
Investment P
roperties
321 E. SPRING STREET
PALESTINE, TEXAS 75801
PALESTINE TOWN CENTER | Affiliated Business Disclosure and Confidentiality Agreement
© 2014 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.
This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and
qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.
Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.
The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc. If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.
Table of Contents
Executive Summary
1
The Offering
Investment Summary
Investment Highlights
Market and Asset Overview
4
Property Summary
Tenant Summaries
Location Map
Aerial
Market Summary
Comparables
Demographics
Financials
14
Rent Roll
Estimated Reimbursement Schedule
Tenant Notes
Income and Expense Analysis
Expiration Schedule
2
Palestine Town CenterEXECUTIVE SUMMARY
The Offering
CBRE’s Retail Investment Property Group is pleased to present Palestine
Town Center (“Property”) a 14,925 square foot shopping center in
Palestine, Texas. Shadow to Kroger, the Property is situated at the
northwest corner of East Spring Street and North Mallard Street in
Downtown Palestine, the county seat of Anderson County. Some nearby
area retailers include Kroger, Family Dollar, Dollar General, and Regions
Bank.
Located in Palestine’s Downtown/Old Town area, Palestine Town Center
has excellent access and visibility from both East Spring Street and North
Mallard Street. There are three points of entry from East Spring Street
(US 287) and two points of entry from North Mallard Street (SH 19) as
well as convenient cross-access throughout and with Kroger.
The Property is currently 83.6% occupied leaving 16.4% or 2,450
square feet of retail space available for lease-up. With the Property’s
close proximity to Palestine Regional Medical Center and Palestine
Rehabilitation Hospital, there is an expanded tenant pool supporting
medical centers including lab services, medical supplies, uniform stores,
or florists.
Currently, Palestine Town Center’s tenant lineup includes a combination
of complementary personal care and service tenants generating steady
traffic and promoting cross shopping. Tenants include Western Finance,
Preferred Choice Income Tax, Gold Star Finance as well as Angles Hair
Studio, Fancy Nails, and Livingston Hearing Aid Center.
Property Specifics
Price:
$1,018,000
Price PSF:
$68.21
NOI:
$91,597
CAP Rate:
9.00%
Occupancy:
83.6%
GLA:
± 14,925 SF
Land Area:
± 1.29 acres or ± 56,192 square feet
Year Built:
1987
Palestine
Palestine is located in East Texas approximately 108 miles southeast of
Dallas, 150 miles north of Houston, and less than 50 miles south of
Tyler. Two major healthcare facilities Palestine Regional Medical Center
and Palestine Regional Rehabilitation Hospital have a combined 500
employees and 50 volunteers as well as more than 80 physicians. The
city is a popular tourist destination, as well as home to two college
campuses: University of Texas – Tyler and Trinity Valley Community
College.
Palestine’s advanced transportation system, natural resources,
affordable real estate, and a diversified economy make it a good place
for business.
• Sanderson Farms, Inc. major expansion initiative, creating
approximately 1,350 new jobs and $265 million in capital
investment
• Reinstatement of short-haul freight and turnkey transload services at
the Texas State Railroad
• Millions of gallons per day of surplus water available for
businesses and residents
• 352-acre business park with shovel-ready and build to suit sites
• New real estate search and business ombudsman services offered
through Palestine Economic Development Corporation
• Successful joint city-county property tax abatement program
• Recognized by Texas Highways magazine as one of the top locations
MARKET AND ASSET OVERVIEW
Property Summary
ADDRESS: 321 East Spring StreetPalestine, Texas 75801 Anderson County
LEGAL DESCRIPTION: Palestine Town Center Block 1, Lot 2
BUILDING AREA: ± 14,925 SF
LAND AREA: ± 1.29 acres or ± 56,192 square feet
CONFIGURATION: One, single story building
YEAR BUILT: 1987
PARKING: ± 79 Surface Spaces
PARKING RATIO: ± 5.267 per 1,000 SF
INGRESS/EGRESS: Three points of entry from Spring Street; two points of entry from North Mallard Street; and cross-access with neighboring properties
STRUCTURE: Concrete tilt wall with brick overlay veneer and steel framing
AGE OF ROOF: 1986
ROOF COMMENTS: Metal roof, good condition with regular maintenance
HVAC: Individual roof mounted individual HVAC units
TRAFFIC COUNTS:
East Spring Street (EB/WB) ± 9,442 vpd North Mallard Street (NB/SB) ± 15,668 vpd (source CoStar)
6
Palestine Town CenterLocation Map
PALESTINE TOWN CENTER
Aerial
E. Spring St.
E. Spring St.
Avenue A
Avenue A
N. Church St.
N. Church St.
N. Mallard St.
N. Mallard St.
8
Palestine Town CenterAerial
Walmart Walmart Bon Appetit Walmart
Distribution Center Crock et R oad Crock et R oad E. Spring St. E. Spring St. Walmart Distribution Center
Site Plan
Av
enue A
Mallard St.
U .S. H igh w ay 84 - Spr ing R oadKroger
NAP
Kroger Fuel Station Tenant Size 1800 750 1,100 2,500 1,250 2,450 750 1,750 1,500 750 1,500 101 105 107A 107B 113 121 127 129 133 135 139N
NAP
107B 121Tenant Suite Size
USA Donut 101 1,800
Pending Lease 105 750
Fancy Nails 113 1,250
Preferred Choice Income
Tax 127 750
Gold Star Finance 129 1,750
TX State Low Cost Insurance 133 1,500
Tenant Suite Size
Livingston Hearing Aid
Center 135 750
Angles Hair Studio 139 1,500
Available 121 2,450
Western Finance 107A 1,100
10
Palestine Town CenterMarket Summary - Palestine, Texas
PALESTINE OVERVIEW
The City of Palestine is located in east Texas in Anderson County
and was founded in 1846. Palestine is located at the intersection of
U.S. Highways 79 and 287, at the center of the county, some 108
miles southeast of Dallas and 150 miles north of Houston. The town
originally thrived off the transportation of goods down the Trinity
River, and then in the 1870’s, Palestine saw a significant increase
in population and economic growth with the arrival of the railroad
industry.
POPULATION AND POPULATION GROWTH
A population of 18,192 people the City of Palestine population
declined 2.73% from 2010 and is projected to decline another 0.25%
to 17,147 people by 2019. The current year median age for Palestine
is 34, while the average age is 36. The racial composition of Palestine,
Texas is currently estimated to be: 61.1% are White alone, 23.0% are
Black or African American alone, 0.6% are American-Indian alone,
1.1% are Asian alone, 0.1% are Native Hawaiian and Other Pacific
Islander alone, 11.0% are some other race, and 3.2% are two or more
races. Sources: Claritas and InfoUSA
There are an estimated 6,802 households in the Lufkin area which
represents a -2.8% growth over 2010. During the next five years
households are projected to grow -0.3%.
WORKFORCE
In Palestine, Texas the current workforce stands at 6,980 and the
population over the age of 16 is 13,566. Currently 45% of the
workforce is in white collar jobs, 29.4% are in service and farm jobs,
and 25.63% is in Blue Collar jobs. Current unemployment stands at
5.9%. The estimated median household income in Palestine is currently
over $35,585 and is projected to grow -16.0% over the next five years.
ECONOMY
The City of Palestine continues to have a strong Union Pacific Railroad
presence as Palestine is an ideal location for distribution to Texas,
Louisiana, Arkansas, and Oklahoma. It is centered just over two
hours from Dallas and Houston, Texas and Shreveport, Louisiana. In
the 1980’s, Walmart built their first distribution center outside of their
home state of Arkansas because of Palestine’s central location. That
distribution center still operates today as one of only seven Fashion
Distribution Centers in the U.S. The successful operations of that center
led Walmart to build a second distribution center in Palestine in 1994.
Source: City of Palestine.
EDUCATION
Palestine Independent School District (PISD) and Westwood Independent
School District (WISD), primarily serves the City of Palestine. As of the Fall
of 2014 PISD has 3,678 students and WISD has 1,700 students across
Rent Comparables
Property GLA Year Built/
Renovated
Current
Occupancy Major Tenants
Available
SF Asking Rent NNN
Palestine Town Center 321 East Spring Street Palestine, Texas
15,000 1987 83.7% USA Donut, Fancy Nails, Gold Star Finance,
Livingston Hearing Aids, Angler Hair Studio 2,450 $8.00-$10.00 $3.43
1
Palestine Shopping Center 328-330 East Spring Street Palestine, Texas
37,505 1979 62.1% Family Dollar, Customer's Choice, Texas Family
Protective Services, Beauty & Gifts 14,205 $5.00 - $6.00 $2.50
2
Palestine Retail Center 419 Old Elkhart Road Palestine, Texas
10,850 2009 100.0% Verizon, Sports Clips, Little Caesars, Family Smiles,
Wright Insurance, Magic Nails & Sp 0 $15.00 - $18.00 $3.75
3
Palestine Plaza Retail Center 1803-2024 Crockett Road Palestine, TX
119,720 1975 / 1993 100.0% Beal's, Dollar Tree, CiCi's Pizza, Pro-Cuts, Hibbett
Sports, Snap Fitness, Rent-A-Center 0 $12.00-$17.00 $2.01
4
Palestine Place 2025 Crockett Road Palestine, TX
21,000 1984 100.0% Sherwin Williams, Andy's Tobacco,
OneMain Financial, Beltone Hearing Aids 0 $12.00-$15.00 $3.25
5 2213 S. Loop 256
12
Palestine Town CenterRent Comparables
© 2014 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at any time without notice or obligation of any kind on the part of CBRE. The Information is protected by copyright and shall be fully enforced.
Demographics
ONE-MILE RADIUS FIVE-MILE RADIUS TEN-MILE RADIUS
POPULA
TION
2014 Estimated Population 5,872 22,479 30,871 2019 Projected Population 5,817 22,517 31,059 2010 Census Population 6,073 23,017 31,480 2000 Census Population 5,754 21,355 28,571 Growth 2010-2014 -3.31% -2.34% -1.94% Growth 2014-2019 -0.94% 0.17% 0.61%2014 Estimated Median Age 33.08 35.89 37.89
2014 Estimated Average Age 35.55 37.60 38.62
HOUSEHOLDS
2014 Estimated Households 2,039 8,506 11,712 2019 Projected Households 2,013 8,527 11,795 2010 Census Households 2,118 8,708 11,942 2000 Census Households 2,113 8,166 11,026 Growth 2010-2014 -3.74% -2.33% -1.93% Growth 2014-2019 -1.25% 0.26% 0.71%2014 Est. Average Household Size 2.67 2.59 2.59
INCOME
2014 Est. Median Household Income $32,114 $36,107 $37,810
2019 Prj. Median Household Income $26,575 $30,073 $30,879
2000 Cen. Median Household Income $25,087 $29,873 $30,918
2014 Est. Average Household Income $45,535 $49,849 $51,760
2014 Estimated Per Capita Income $15,810 $18,862 $19,638
HOUSING
2014 Estimated Housing Units 2,458 9,814 13,576
2014 Estimated Occupied Units 2,039 8,506 11,712
2014 Estimated Vacant Units 420 1,309 1,863
2014 Est. Owner Occupied Units 1,146 5,498 8,070
2014 Est. Renter Occupied Units 893 3,007 3,642
2014 Est. Median Housing Value $90,856 $90,712 $91,060
Rent Roll
Palestine Town Center
Lease Dates Minimum Rent Recoveries Total % of
Tenant Suite GLA % Start End Annual Monthly PSF Annual PSF Revenue Revenue
USA Donut 101 1,800 12.06% 03/12 02/18 $16,200 $1,350 $9.00 $6,170 $3.43 $22,370 15.67% Pending Lease 105 750 5.03% 11/14 10/16 $4,500 $375 $6.00 $2,571 $3.43 $7,071 4.95% Fancy Nails 113 1,250 8.38% 04/13 12/15 $10,620 $885 $8.50 $4,285 $3.43 $14,905 10.44% [2] Preferred Choice Income Tax 127 750 5.03% 10/03 MTM $9,000 $750 $12.00 $2,571 $3.43 $11,571 8.11% Gold Star Finance 129 1,750 11.73% 06/13 06/16 $10,500 $875 $6.00 $5,999 $3.43 $16,499 11.56% TX State Low Cost Insurance 133 1,500 10.05% 10/06 09/15 $13,500 $1,125 $9.00 $5,142 $3.43 $18,642 13.06% Livingston Hearing Aid Center 135 750 5.03% 05/14 04/17 $6,000 $500 $8.00 $2,571 $3.43 $8,571 6.00% Angles Hair Studio 139 1,500 10.05% 09/14 08/17 $10,500 $875 $7.00 $5,142 $3.43 $15,642 10.96%
Available 121 2,450 16.42% - - $0 $0 $0.00 $0 $0.00 $0 0.00%
Western Finance 107A 1,100 7.37% 09/11 08/16 $9,900 $825 $9.00 $3,771 $3.43 $13,671 9.58% Pending Lease 107B 1,325 8.88% 11/14 10/16 $9,275 $773 $7.00 $4,542 $3.43 $13,817 9.68%
Total Count / GLA 11 14,925 100% Totals $99,995 $42,762 $142,757 100.00%
Occupied 10 12,475 83.6% Available 1 2,450 16.4% Total Avg Rent / GLA 8.02 12,475 100.0% Notes:
Rent Roll
[1] Static analysis information obtained from the September 2014 Rent Roll and the 2013 Income Statement.
16
Palestine Town CenterEstimated Reimbursement Revenue
Palestine Town Center
CAM Management Fee Insurance Real Estate Taxes Total Recovery
Tenant Suite GLA % Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF
USA Donut 101 1,800 12.06% $270 $1.80 $57 $0.38 $20 $0.14 $166 $1.11 $514 $3.43 Pending Lease 105 750 5.03% $113 $1.80 $24 $0.38 $9 $0.14 $69 $1.11 $214 $3.43 Fancy Nails 113 1,250 8.38% $188 $1.80 $40 $0.38 $14 $0.14 $115 $1.11 $357 $3.43 Preferred Choice Income Tax 127 750 5.03% $113 $1.80 $24 $0.38 $9 $0.14 $69 $1.11 $214 $3.43 Gold Star Finance 129 1,750 11.73% $263 $1.80 $56 $0.38 $20 $0.14 $162 $1.11 $500 $3.43 TX State Low Cost Insurance 133 1,500 10.05% $225 $1.80 $48 $0.38 $17 $0.14 $139 $1.11 $428 $3.43 Livingston Hearing Aid Center 135 750 5.03% $113 $1.80 $24 $0.38 $9 $0.14 $69 $1.11 $214 $3.43 Angles Hair Studio 139 1,500 10.05% $225 $1.80 $48 $0.38 $17 $0.14 $139 $1.11 $428 $3.43
Available 121 2,450 16.42% $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00 $0 $0.00
Western Finance 107A 1,100 7.37% $165 $1.80 $35 $0.38 $13 $0.14 $102 $1.11 $314 $3.43 Pending Lease 107B 1,325 8.88% $199 $1.80 $42 $0.38 $15 $0.14 $122 $1.11 $378 $3.43
Totals 14,925 100% $1,871 $398 $142 $1,153 $3,563
Notes:
Estimated Reimbursement Revenue
[1] Analysis assumes all in-place tenants reimburse net of Common Area Maintenance, Management Fee, Insurance, and Real Estate Taxes. A thorough review of the final 2013 CAM Reconciliations is necessary to enhance these projections.
Tenant Notes
Palestine Town Center
Base Rental Increases Option Notes
Tenant Suite GLA Date PSF Renewal Notes
USA Donut 101 1,800 One 5-year renewal option @ FMV not to exceed a 7% increase
Tenant: Ngoun (Richard) Lay Chhor LL right to terminate with 180 days notice [2] Pending Lease 105 750
Fancy Nails 113 1,250 One 3-year renewal option @ FMV
Tenant: Minh Hang Tran, Individually LL right to terminate with 90 days notice [2] Preferred Choice Income Tax 127 750 Tenant: Cecilia Kennedy
LL right to terminate with 90 days notice [2] Gold Star Finance 129 1,750 One 3-year renewal option @
FMV
Tenant: Gold Star Finance Inc.
LL right to terminate with 90 days notice [2] TX State Low Cost Insurance 133 1,500 Tenant: TSLC, LLC
Guarantor: Dennis M. Morris
LL right to terminate with 180 days notice [2] Livingston Hearing Aid Center 135 750
Angles Hair Studio 139 1,500 09/15 09/16
$8.00 $9.00
Tenant: William J. Rogers, Jr.
Available 121 2,450
Western Finance 107A 1,100 Tenant: Western-Shamrock Corporation Lessee has the right to terminate with 30-days notice if legislation changes and tenant can no longer operate.
Pending Lease 107B 1,325
Totals 14,925
Notes:
Tenant Notes
[1] Tenant notes per Lease review.
18
Palestine Town CenterIncome and Expense Analysis
Palestine Town Center
% of
In-Place PSF EGR
INCOME
Base Rent $99,995 $6.70 70.0%
Percentage Rent $0 $0.00 0.0%
Total Rental Revenue $99,995 $6.70 70.0%
Expense Reimbursements
CAM Recoveries $22,457 $1.50 15.7%
Management Fee Recoveries $4,771 $0.32 3.3%
Insurance Recoveries $1,702 $0.11 1.2%
Real Estate Tax Recoveries $13,832 $0.93 9.7%
Total Expense Reimbursements $42,762 $2.87 30.0%
Total Other Revenue $0.00 $0.00 0.0%
Total Gross Revenue $142,757 $9.56 100.0%
Effective Gross Revenue (EGR) $142,757 $9.56 100.0%
OPERATING EXPENSES Common Area Maintenance
Repairs and Maintenance $6,604 $0.44 4.6%
Repairs & Maintenance-Electrical $692 $0.05 0.5%
Electricity $2,339 $0.16 1.6%
Water $5,901 $0.40 4.1%
Parking Lot Repair $175 $0.01 0.1%
Cleanup $4,799 $0.32 3.4%
Canopy & P/L Lights $532 $0.04 0.4%
Exterminating $435 $0.03 0.3%
Trash Disposal $4,091 $0.27 2.9%
Landscape Maintenance $1,299 $0.09 0.9%
Total Common Area Maintenance $26,867 $1.80 18.8%
Income and Expense Analysis [1]
Management Fee $5,708 $0.38 4.0%
Total Insurance $2,036 $0.14 1.4%
Total Real Estate Taxes $16,549 $1.11 11.6%
Total Recoverable Expenses $51,160 $3.43 35.8%
Total Non-Recoverable Expenses $0 $0.00 0.0%
Total Operating Expenses $51,160 $3.43 35.8%
Net Operating Income $91,597 $6.14 64.2%
Net Operating Income (Variance)
Capitalization Rate 9.00%
Cash-on-Cash Return [2] 17.21%
Notes:
[1] Expense information obtained from the 2013 Income Statement. Management Fee is included at an estimated 4% of EGR. Real Estate Taxes are per the most recent assessed value and millage rates from the Anderson County Appraisal District. Analysis does not incorporate the Texas Margin Tax and assumes a buyer will consult their tax advisor to assess their exposure to this expense.
[2] Cash on Cash Return based on market loan assumptions.
Palestine Town Center
% of
In-Place PSF EGR
INCOME
Base Rent $99,995 $6.70 70.0%
Percentage Rent $0 $0.00 0.0%
Total Rental Revenue $99,995 $6.70 70.0%
Expense Reimbursements
CAM Recoveries $22,457 $1.50 15.7%
Management Fee Recoveries $4,771 $0.32 3.3%
Insurance Recoveries $1,702 $0.11 1.2%
Real Estate Tax Recoveries $13,832 $0.93 9.7%
Total Expense Reimbursements $42,762 $2.87 30.0%
Total Other Revenue $0.00 $0.00 0.0%
Total Gross Revenue $142,757 $9.56 100.0%
Effective Gross Revenue (EGR) $142,757 $9.56 100.0%
OPERATING EXPENSES Common Area Maintenance
Repairs and Maintenance $6,604 $0.44 4.6%
Repairs & Maintenance-Electrical $692 $0.05 0.5%
Electricity $2,339 $0.16 1.6%
Water $5,901 $0.40 4.1%
Parking Lot Repair $175 $0.01 0.1%
Cleanup $4,799 $0.32 3.4%
Canopy & P/L Lights $532 $0.04 0.4%
Exterminating $435 $0.03 0.3%
Trash Disposal $4,091 $0.27 2.9%
Landscape Maintenance $1,299 $0.09 0.9%
Total Common Area Maintenance $26,867 $1.80 18.8%
Expiration Schedule
Palestine Town Center
EXPIRATION SCHEDULE
Suite Tenant Expiration Available MTM 2014 2015 2016 2017 2018 2019
121 Available - 2,450
127 Preferred Choice Income Tax MTM 750
133 TX State Low Cost Insurance 09/15 1,500
113 Fancy Nails 12/15 1,250
129 Gold Star Finance 06/16 1,750
107A Western Finance 08/16 1,100
105 Pending Lease 10/16 750
107B Pending Lease 10/16 1,325
135 Livingston Hearing Aid Center 04/17 750
139 Angles Hair Studio 08/17 1,500
101 USA Donut 02/18 1,800
Total Expiration Area 2,450 750 0 2,750 4,925 2,250 1,800 0
C B R E | E x c l u s i v e A g e n t s