westpark plaza

WESTPARK PLAZA
SAN ANTONIO, TEXAS
OFFERING SUMMARY
Holliday Fenoglio Fowler, L.P. acting by and
through Holliday GP Corp. a Texas licensed
real estate broker (“HFF”)
INVESTMENT OVERVIEW
On behalf of the Owner, HFF is pleased to present the opportunity to purchase Westpark Plaza (the “Property”), a 134,187 square foot retail center prominently located on NW Loop
410 in the Northwest submarket of San Antonio, Texas. The Property features easy access to major thoroughfares, superior visibility and impressive surrounding demographics.
With 87% occupancy and a diverse rent roll with major tenants boasting an average remaining lease term of 8.0 years, Westpark Plaza offers steady cash flow coupled with upside
potential through lease-up of vacancies in a rising rental rate environment in one of the top five fastest growing cities in the country.
INVESTMENT HIGHLIGHTS
•Positioned with maximum visibility along NW Loop 410 between intersections with Ingram
Road and Culebra Road providing easy access to a large and mature trade area.
•Strong infill demographics and traffic including a population of approximately 370,000 within
a 5 mile radius and traffic counts of approximately 197,367 vehicles per day along NW Loop
410.
•Significant capital improvements totaling over $250,000 completed in 2014 include awnings
upgrades, parking lot asphalt repairs plus stripe and seal and façade improvements. Additional
improvements currently underway include roof repairs, main pylon and landscaping upgrades
totaling nearly $100,000.
•Diverse and balanced rent roll with an average remaining lease term of 8.0 years for major
tenants alongside substantial upside potential in base rental revenue through lease-up of
vacant space in a rising rental rate environment.
•Attractive $10 million dollar assumable loan at a 4.45% rate and a 0.25% assumption fee.
•Robust San Antonio economy including population growth more than double the national
average and unemployment rates well below both the Texas and national averages.
2
PROPERTY OVERVIEW
Location:
Size:
Acreage:
Parking:
Occupancy:
6703-6759 NW Loop 410
San Antonio, TX 78238
Approx. 134,187 square feet
10.80 acres
3.7 : 1,000 SF (490 spaces)
87%
MAJOR TENANTS
Tenant
FAMSA, Inc.
Teppanyaki Grill & Buffet
Blast Fitness
ABH Property Mgmt (Bingo)
Total
*excluding renewal options
% of
Lease
Remaining
SF
Property Expiration Lease Term*
40,362
30.1%
Dec-20
5.8
27,096
25,000
11,828
104,286
20.2%
18.6%
8.8%
77.7%
Sep-23
Sep-25
Jan-24
8.6
10.6
8.9
8.0
SAN ANTONIO OVERVIEW
San Antonio is the center of economic activity and commerce in South Central Texas as well as home
to five Fortune 500 companies – USAA, Valero Energy, Clear Channel Communications, NuStar Energy
and Tesoro Petroleum. San Antonio enjoys a diverse industry portfolio that continues to strengthen
and build upon the city’s historic economic base including tourism, insurance, healthcare and
biotechnology, energy, government, military, telecommunications and telemarketing. San Antonio’s
population growth rate has doubled that of the national average over the last decade and has a
significantly lower unemployment rate at 3.8% compared to 5.4% nationally. A favorable location
for regional and international trade, an adequate infrastructure, a young bilingual workforce, and low
living and business costs all support steady growth for the San Antonio economy.
LEON VALLEY
BAND
E
RA RO
A
D
DEMOGRAPHICS
Description
1 Mile Radius 3 Mile Radius
5 Mile Radius
Population
2020 Projection
2015 Estimate
2000 Census
Growth 2015-2020
Growth 2010-2015
2015 Est. Average Household Income
2015 Est. Median Household Income
Source: 2015 The Nielson Company
8,453
7,925
6,044
6.67%
6.31%
$52,517
$43,769
119,733
111,748
86,703
7.15%
7.71%
$57,611
$46,014
367,549
344,791
275,679
6.60%
6.79%
$58,217
$46,414
BA
WURZ
INGRAM PARK MALL
INNER WEST SIDE
ROAD
INGRAM
19
67
7 ,3
CA
RS
R
PE
OLIVER WENDELL HOLMES
HIGH SCHOOL
Y
DA
RO
CO
G
IR
FA
ROA
D
WESTPARK PLAZA
AD
CH RO
O
TR
AN
U
P
3
SOUTHERN
CAREERS
INSTITUTE
ND
PA
R
KW
AY
VAC
A
4,19 NT
9 SF
Blast Fitness
25,000 SF
Exp. 09/25
Teppanyaki Grill & Buffet
27,096 SF
Exp. 09/23
ABH Prop Mgmt, LLC
(Bingo)
11,828 SF
Exp. 01/24
VACANT
8,476 SF
FAMSA, Inc.
40,362 SF
Exp. 12/20
Eyemart
3,500 SF
Exp. 10/18
ATM
Exp. 10/19
CONNALLY LOOP / ROUTE 410
I - 410 ACCESS RD / NW LOOP 410
Fud
dr
7,40 uckers
0
MTM SF
I - 410 ACCESS RD / NW LOOP 410
CONNALLY LOOP / ROUTE 410
VAC
A
1,33 NT
5
Elw SF
E x p ood
. 10/
17
VAC
3,30 ANT
9 SF
ADDITIONAL INFORMATION
If you have any questions or require additional information, please contact any of the individuals below.
JOHN TAYLOR | Managing Director | [email protected] | 512.532.1950
BARRY BROWN | Senior Managing Director | [email protected] | 469.232.1968
DREW FULLER | Analyst | [email protected] | 512.532.1931
RYAN MCBRIDE | Senior Analyst | [email protected] | 512.532.1932
JEREMY WOMACK | Managing Director | [email protected] | 512.532.1965 (FINANCING INQUIRIES)
500 West 5th Street | Suite 1200
Austin, TX 78701
512.532.1900
www.hfflp.com
©2015 HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt
placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
HFF has been engaged by the owner of the properties to market them for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square
footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation
and rely on those results. The information contained herein is subject to change.