OM - Furr`s Buffet

Furr's Buffet - Fort Worth
3233 Alta Mere Drive, Fort Worth, TX 76116
●
●
●
●
●
Kenneth Wimberly, CCIM
Brad Motley
Managing Director
NNN Investment Specialist
817.635.1013
817.980.0512
[email protected]
[email protected]
0503180
Each Office is Independently Owned and Operated
Sales Price: $1,800,000
Cap Rate 9.05%
Guaranteed by Buffet Partners,
L.P., owner of Furr's Buffet
concept. Operates 50+ units in
AR,AZ,CO,KS,NM,OK, and TX.
Percentage Rent Clause in
Lease Agreement
Outstanding Fort Worth, TX
Location
925 Businesses within a 1 mile
radius with over 7,000
employees
Noble Crest Property Group
1301 S. Bowen Road, Suite 400
Arlington, TX 76013
682.233.0424 (p)
866.858.8191 (f)
www.ncpgtexas.com
Real Estate Investment Details
ANALYSIS
Analysis Date:
December 2012
PROPERTY
Property:
Property Address:
Year Built:
Furr's Buffet - Fort Worth
3233 Alta Mere Drive
Fort Worth, TX 76116
1980
PURCHASE INFORMATION
Property Type:
Purchase Price:
Tenants:
Total Rentable Sq. Ft.:
FINANCIAL INFORMATION
Retail
$1,800,000
1
11,736
All Cash
LOANS
Debt
Term
Rate
Payment
LO Costs
All Cash
INCOME & EXPENSES
Gross Operating Income:
Monthly GOI:
Total Annual Expenses:
CONTACT INFORMATION
$162,883
$13,574
$0
Kenneth Wimberly, CCIM
817.635.1013
[email protected]
0503180
Brad Motley
817.980.0512
[email protected]
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections
and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or
other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting,
tax or other professional area before making any decisions.
Furr's Buffet - Fort Worth
Property Description
3233 Alta Mere Drive
Fort Worth, TX 76116
Kenneth Wimberly, CCIM
817.635.1013
This property is +/- 11,736 square feet currently
net leased by Buffet Partners, LP, owner of
Furr's Buffet restaurant concept with more than
50 units in AR,AZ,CO,KS,NM,OK, and TX,
sitting on +/- 1.8 AC of land near the busy
intersection of Alta Mere and Camp Bowie in
Fort Worth, Texas. The property is highly visible
and has a left turn ingress/egress from Alta Mere
Drive (+/- 33,000 VPD). There is a percentage
rent clause in the lease and the store has
roughly $2-2.25M in annual sales.
Fort Worth is currently the 5th biggest city in
Texas, with a 2.37% annual population growth rate. This particular area of Fort Worth has seen
massive redevelopment in recent years. Currently, there are 925 businesses and more than 7,000
employees within a one mile radius of this property. Major retail tenants in the immediate area
include: Quick Trip, RaceTrac, Midas, Pep Boys, and DriveTime.
About Furr’s
Owned by Buffet Partners, L.P. of Dallas, Furr’s has a long and rich tradition of serving fresh,
wholesome meals in the south-central and southwest U.S. Founded by brothers Roy and Key Furr
in 1946, Furr’s continues to provide warm, family focused service in a casual, comfortable
environment. Today, Buffet Partners operates 44 Furr's and Furr's Fresh Buffet locations in seven
western and southern states. Guests continue to enjoy favorite recipes that made Furr’s restaurants
famous, including the legendary Millionaire Pie and Skillet-Grilled Chicken Fried Steak. Guests also
crave Furr’s contemporary new items such as grilled sirloin steak, golden-fried butterflied shrimp,
Citrus-Fired Chicken, hand-carved roast beef, baked fish; fresh build-your-own salads; steamed
veggies; oven-baked breads; and mouthwatering desserts. Furr's all-you-wish-to-enjoy buffet
serves delicious food you wish you had time to cook, all for one price of about $10.
Furr's Buffet - Fort Worth
3233 Alta Mere Drive
Fort Worth, TX 76116
Maps and Aerials
Kenneth Wimberly, CCIM
817.635.1013
Furr's Buffet - Fort Worth
3233 Alta Mere Drive
Fort Worth, TX 76116
Maps and Aerials
Kenneth Wimberly, CCIM
817.635.1013
Furr's Buffet - Fort Worth
Executive Summary
3233 Alta Mere Drive
Fort Worth, TX 76116
Kenneth Wimberly, CCIM
817.635.1013
ACQUISITION COSTS
Purchase Price, Points and Closing Costs
Investment - Cash
$1,800,000
$1,800,000
INVESTMENT INFORMATION
Purchase Price
Price per Tenant
Price per Sq. Ft.
$1,800,000
$1,800,000
$153.37
INCOME, EXPENSES & CASH FLOW
Gross Scheduled Income
Total Vacancy and Credits
Operating Expenses
Net Operating Income
Debt Service
Cash Flow Before Taxes
$162,883
$0
$0
$162,883
$0
$162,883
FINANCIAL INDICATORS
Cash on Cash Return Before Taxes
9.05%
Debt Coverage Ratio
Capitalization Rate
Gross Income / Square Feet
N/A
9.05%
$13.88
Furr's Buffet - Fort Worth
Financial Summary
3233 Alta Mere Drive
Fort Worth, TX 76116
Kenneth Wimberly, CCIM
817.635.1013
Asking Price $1,800,000
Cap Rate 9.05%
3233 Alta Mere Drive | Fort Worth, TX 76116
Net Operating Income
$162,883
Rent/Month
$13,574
Rentable Square Feet
Land Area
11,736
1.86 acres
Ownership Type
Fee Simple
Lease Type
NNN
Landlord Responsibilities
Roof/Structural
Lease Term
5 years
Tenant Name
Buffet Partners, LP
Rent Commencement
05/01/2012
Credit Rating
Private
Lease Expiration Date
12/31/2017
Stock Symbol
Private
Guarantor
Web Site
Buffet Partners, LP
www.furrs.net
INVESTMENT HIGHLIGHTS
❖
Sales Price: $1,800,000
Cap Rate 9.05%
❖
Guaranteed by Buffet Partners, L.P., owner of
Furr's Buffet concept. Operates 50+ units in
AR,AZ,CO,KS,NM,OK, and TX.
❖
Percentage Rent Clause in Lease Agreement
❖
Outstanding Fort Worth, TX Location
❖
925 Businesses within a 1 mile radius with over
7,000 employees
RENT SCHEDULE
Term
1-5
NOTES
Increase
Annual Rent
$162,883
Monthly Rent
$13,573.58
PER/SF
$13.88
Buffet Partners operates about 50 cafeteria-style buffet restaurants under the names Furr's Family Dining and Furr's Buffett. 2(5)
year options.
Traffic Count Map
Furrs - Alta Mere
Ring: 1, 3, 5 Miles
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Source: ©2011 MPSI (Market Planning Solutions Inc.) Systems Inc. d.b.a. DataMetrix®
August 14, 2012
©2012 Esri
Traffic Count Profile
Prepared by Kenneth Wimberly
Furrs - Alta Mere
Latitude: 32.724102
Longitude: -97.440673
Ring: 5 miles radius
Distance:
Street:
Closest Cross-street:
Year of Count:
Count:
0.09
Altamere Dr
Arbor Ave (0.06 miles N)
2009
33,000
0.24
Altamere Ave
Chapel Ave (0.04 miles NE)
1998
37,000
0.32
US Hwy 80
Lackland Rd (0.1 miles E)
2009
17,570
0.35
Ramona Dr
Slocum Ave (0.05 miles N)
1999
580
0.36
US Hwy 377
Floyd Dr (0.1 miles NE)
2009
8,740
0.37
W Elizabeth Ln
Lackland Rd (0.02 miles W)
2009
8,880
0.43
Floyd Dr
Camp Bowie Blvd (0.03 miles NW)
2009
2,270
0.54
US Hwy 80
Curtis Dr (0.03 miles E)
1998
21,000
0.58
Clayton Rd W
Fortune Rd (0.02 miles N)
2009
1,050
0.60
Lackland Rd
Locke Ave (0.06 miles N)
2009
10,830
0.67
US Hwy 80
Karen St (0.05 miles W)
2009
21,000
0.69
Williams Rd
Norman Ave (0.03 miles N)
2009
6,050
0.69
Calmont Ave
Irene St (0.02 miles E)
2009
4,840
0.71
Cherry Ln
Slocum Ave (0.08 miles S)
2009
10,420
0.71
Calmont Ave
Hill Ave (0.04 miles W)
2009
5,420
0.72
Curzon Ave
Tex Blvd (0.01 miles W)
1999
880
0.77
Clayton Rd E
Camp Bowie Blvd (0.01 miles NW)
2009
1,520
0.77
Chapin Rd
Coates Cir (0.06 miles W)
2009
2,030
0.78
Altamere Dr
West Fwy (0.05 miles N)
1993
19,421
0.78
Shannon Dr
Brants Ln (0.05 miles N)
1999
140
0.79
West Fwy
Altamere Dr (0.11 miles NW)
1997
10,930
0.80
Clayton Rd E
Pelham Rd (0.03 miles NE)
2009
1,710
0.80
Clayton Rd E
Woodstock Rd (0.06 miles S)
2009
1,560
0.81
West Fwy
Altamere Dr (0.1 miles W)
1997
4,230
0.82
Green Oaks Rd
West Fwy (0.03 miles N)
1999
7,560
0.82
Southwest Blvd
Davenport Ave (0.03 miles S)
2004
35,000
0.83
Brazos Ave
Southwest Blvd (0.05 miles NE)
1999
180
0.83
West Fwy
Green Oaks Rd (0.14 miles E)
2004
12,144
0.83
West Fwy
Green Oaks Rd (0.06 miles E)
2004
2,015
0.83
I- 30
Altamere Dr (0.1 miles W)
1997
96,720
Data Note:The Traffic Profile displ ys up to 30 of the closest a vailable traffic counts within the largest radius around your site. The years of
the counts in the database range from 2011 to 1963. Just over 68% of the counts were taken between 2001 and 2011 and 86% of the counts
were taken in 1997 or later. Traffic counts are identified y the street on which the y were recorded, along with the distance and direction to
the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the t o-way
Average Daily Traffic (ADT) that passes that location
Source: ©2011 MPSI Systems Inc. d.b.a. DataMetrix®
Traffic Count Map - Close Up
Furrs - Alta Mere
Ring: 1, 3, 5 Miles
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Source: ©2011 MPSI (Market Planning Solutions Inc.) Systems Inc. d.b.a. DataMetrix®
August 14, 2012
©2012 Esri
Demographic and Income Profile
Furrs - Alta Mere
Ring: 1 mile radius
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Summary
2010
2011
2016
Population
7,840
7,901
8,687
Households
3,210
3,235
3,533
Families
1,962
1,990
2,169
2.44
2.44
2.45
Owner Occupied Housing Units
1,729
1,725
1,931
Renter Occupied Housing Units
1,481
1,510
1,603
34.6
34.6
34.8
Area
1.92%
1.78%
1.74%
2.28%
4.24%
State
1.51%
1.52%
1.44%
1.82%
3.18%
National
0.67%
0.71%
0.57%
0.91%
2.75%
2016
Average Household Size
Median Age
Trends: 2011 - 2016 Annual Rate
Population
Households
Families
Owner HHs
Median Household Income
2011
Households by Income
Number
Percent
Number
Percent
<$15,000
385
11.9%
391
11.1%
$15,000 - $24,999
463
14.3%
376
10.6%
$25,000 - $34,999
440
13.6%
309
8.7%
$35,000 - $49,999
619
19.1%
626
17.7%
$50,000 - $74,999
558
17.2%
833
23.6%
$75,000 - $99,999
301
9.3%
427
12.1%
$100,000 - $149,999
262
8.1%
343
9.7%
$150,000 - $199,999
101
3.1%
110
3.1%
$200,000+
107
3.3%
119
3.4%
Median Household Income
Average Household Income
Per Capita Income
$41,616
$60,488
$23,846
2010
Population by Age
$51,222
$68,742
$26,845
2011
2016
Number
Percent
Number
Percent
Number
Percent
0-4
662
8.4%
664
8.4%
742
8.5%
5-9
612
7.8%
616
7.8%
671
7.7%
10 - 14
494
6.3%
497
6.3%
547
6.3%
15 - 19
501
6.4%
502
6.4%
511
5.9%
20 - 24
482
6.2%
486
6.2%
514
5.9%
25 - 34
1,220
15.6%
1,236
15.6%
1,386
16.0%
35 - 44
1,055
13.5%
1,055
13.4%
1,103
12.7%
45 - 54
1,079
13.8%
1,072
13.6%
1,059
12.2%
55 - 64
813
10.4%
829
10.5%
967
11.1%
65 - 74
448
5.7%
463
5.9%
623
7.2%
75 - 84
308
3.9%
314
4.0%
357
4.1%
164
2.1%
167
2.1%
206
85+
2010
Race and Ethnicity
2011
2.4%
2016
Number
Percent
Number
Percent
Number
White Alone
5,633
71.8%
5,662
71.7%
6,110
70.3%
Black Alone
781
10.0%
782
9.9%
880
10.1%
0.7%
American Indian Alone
Asian Alone
Pacific Islander Alone
Some Other Race Alone
Two or More Races
Hispanic Origin (Any Race)
Percent
44
0.6%
46
0.6%
57
112
1.4%
110
1.4%
122
1.4%
7
0.1%
7
0.1%
8
0.1%
1,037
13.2%
1,066
13.5%
1,251
14.4%
226
2.9%
227
2.9%
261
3.0%
2,498
31.9%
2,568
32.5%
3,169
36.5%
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
August 14, 2012
©2012 Esri
Page 1 of 6
Demographic and Income Profile
Furrs - Alta Mere
Ring: 1 mile radius
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Trends 2011-2016
Annual Rate (in percent)
4
3.5
3
2.5
2
1.5
Area
State
USA
1
0.5
0
Population
Households
Families
Owner HHs
Median HH Income
Population by Age
14
Percent
12
10
8
6
4
2011
2016
2
0
0-4
5-9
10-14
15-19
20-24
25-34
45-54
55-64
65-74
75-84
85+
2011 Population by Race
2011 Household Income
$25K - $34K
13.6%
35-44
70
$15K - $24K
14.3%
65
60
55
<$15K
11.9%
50
$200K+
3.3%
Percent
45
$35K - $49K
19.1%
$150K - $199K
3.1%
40
35
30
25
20
15
$100K - $149K
8.1%
$50K - $74K
17.2%
10
5
$75K - $99K
9.3%
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2011 Percent Hispanic Origin: 32.5%
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
August 14, 2012
©2012 Esri
Page 2 of 6
Demographic and Income Profile
Furrs - Alta Mere
Ring: 3 mile radius
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Summary
2010
2011
2016
Population
77,741
78,329
84,867
Households
34,279
34,495
37,109
Families
18,579
18,804
20,106
2.25
2.25
2.27
Owner Occupied Housing Units
15,021
15,061
16,807
Renter Occupied Housing Units
19,258
19,434
20,301
35.3
35.5
36.2
Area
1.62%
1.47%
1.35%
2.22%
4.62%
State
1.51%
1.52%
1.44%
1.82%
3.18%
National
0.67%
0.71%
0.57%
0.91%
2.75%
2016
Average Household Size
Median Age
Trends: 2011 - 2016 Annual Rate
Population
Households
Families
Owner HHs
Median Household Income
2011
Households by Income
Number
Percent
Number
Percent
<$15,000
5,190
15.0%
5,323
14.3%
$15,000 - $24,999
5,152
14.9%
4,251
11.5%
$25,000 - $34,999
4,677
13.6%
3,583
9.7%
$35,000 - $49,999
5,701
16.5%
5,471
14.7%
$50,000 - $74,999
5,955
17.3%
8,525
23.0%
$75,000 - $99,999
2,889
8.4%
4,037
10.9%
$100,000 - $149,999
2,814
8.2%
3,447
9.3%
$150,000 - $199,999
891
2.6%
1,116
3.0%
1,228
3.6%
1,355
3.7%
$200,000+
Median Household Income
Average Household Income
Per Capita Income
$39,668
$58,895
$26,328
2010
Population by Age
$49,726
$67,106
$29,727
2011
2016
Number
Percent
Number
Percent
Number
Percent
0-4
5,966
7.7%
5,931
7.6%
6,465
7.6%
5-9
5,242
6.7%
5,270
6.7%
5,625
6.6%
10 - 14
4,382
5.6%
4,411
5.6%
4,762
5.6%
15 - 19
4,434
5.7%
4,442
5.7%
4,468
5.3%
20 - 24
5,983
7.7%
6,017
7.7%
6,188
7.3%
25 - 34
12,557
16.2%
12,608
16.1%
13,669
16.1%
35 - 44
9,525
12.3%
9,514
12.1%
9,785
11.5%
45 - 54
10,496
13.5%
10,492
13.4%
10,314
12.2%
55 - 64
8,522
11.0%
8,731
11.1%
10,125
11.9%
65 - 74
5,117
6.6%
5,315
6.8%
7,073
8.3%
75 - 84
3,767
4.8%
3,818
4.9%
4,287
5.1%
1,751
2.3%
1,781
2.3%
2,107
85+
2010
Race and Ethnicity
2011
2.5%
2016
Number
Percent
Number
Percent
Number
Percent
White Alone
55,346
71.2%
55,677
71.1%
59,270
69.8%
Black Alone
10,082
13.0%
10,029
12.8%
10,893
12.8%
492
0.6%
497
0.6%
574
0.7%
1,332
1.7%
1,323
1.7%
1,499
1.8%
American Indian Alone
Asian Alone
Pacific Islander Alone
Some Other Race Alone
Two or More Races
Hispanic Origin (Any Race)
56
0.1%
56
0.1%
62
0.1%
8,138
10.5%
8,435
10.8%
9,934
11.7%
2,294
3.0%
2,311
3.0%
2,636
3.1%
19,782
25.4%
20,478
26.1%
25,396
29.9%
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
August 14, 2012
©2012 Esri
Page 3 of 6
Demographic and Income Profile
Furrs - Alta Mere
Ring: 3 mile radius
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Trends 2011-2016
Annual Rate (in percent)
4.5
4
3.5
3
2.5
2
1.5
Area
State
USA
1
0.5
0
Population
Households
Families
Owner HHs
Median HH Income
Population by Age
16
14
Percent
12
10
8
6
4
2011
2016
2
0
0-4
5-9
10-14
15-19
20-24
25-34
35-44
45-54
55-64
65-74
75-84
85+
2011 Population by Race
2011 Household Income
$15K - $24K
14.9%
70
65
$25K - $34K
13.6%
60
55
<$15K
15.0%
50
$200K+
3.6%
$35K - $49K
16.5%
Percent
45
$150K - $199K
2.6%
40
35
30
25
20
15
$100K - $149K
8.2%
10
5
$50K - $74K
17.3%
$75K - $99K
8.4%
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2011 Percent Hispanic Origin: 26.1%
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
August 14, 2012
©2012 Esri
Page 4 of 6
Demographic and Income Profile
Furrs - Alta Mere
Ring: 5 mile radius
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Summary
2010
2011
2016
181,340
182,984
197,317
Households
76,905
77,570
83,360
Families
43,649
44,221
47,199
2.28
2.28
2.29
Owner Occupied Housing Units
39,891
40,014
44,139
Renter Occupied Housing Units
37,014
37,556
39,222
35.0
35.1
35.8
Area
1.52%
1.45%
1.31%
1.98%
3.47%
State
1.51%
1.52%
1.44%
1.82%
3.18%
National
0.67%
0.71%
0.57%
0.91%
2.75%
2016
Population
Average Household Size
Median Age
Trends: 2011 - 2016 Annual Rate
Population
Households
Families
Owner HHs
Median Household Income
2011
Households by Income
Number
Percent
Number
Percent
<$15,000
9,864
12.7%
9,853
11.8%
$15,000 - $24,999
9,735
12.6%
7,890
9.5%
$25,000 - $34,999
9,405
12.1%
7,070
8.5%
$35,000 - $49,999
12,442
16.0%
11,609
13.9%
$50,000 - $74,999
14,597
18.8%
20,316
24.4%
$75,000 - $99,999
7,905
10.2%
10,699
12.8%
$100,000 - $149,999
7,651
9.9%
9,379
11.3%
$150,000 - $199,999
2,495
3.2%
2,844
3.4%
$200,000+
3,472
4.5%
3,698
4.4%
Median Household Income
Average Household Income
Per Capita Income
$45,893
$66,211
$29,225
2010
Population by Age
$54,432
$74,533
$32,604
2011
2016
Number
Percent
Number
Percent
Number
Percent
0-4
12,519
6.9%
12,459
6.8%
13,516
6.9%
5-9
11,490
6.3%
11,559
6.3%
12,303
6.2%
10 - 14
10,290
5.7%
10,358
5.7%
11,130
5.6%
15 - 19
12,000
6.6%
12,031
6.6%
12,055
6.1%
20 - 24
16,001
8.8%
16,131
8.8%
16,577
8.4%
25 - 34
28,475
15.7%
28,700
15.7%
31,141
15.8%
35 - 44
22,525
12.4%
22,543
12.3%
23,123
11.7%
45 - 54
24,647
13.6%
24,695
13.5%
24,228
12.3%
55 - 64
20,274
11.2%
20,789
11.4%
24,015
12.2%
65 - 74
11,604
6.4%
12,062
6.6%
15,989
8.1%
75 - 84
7,774
4.3%
7,864
4.3%
8,789
4.5%
3,744
2.1%
3,793
2.1%
4,450
85+
2010
Race and Ethnicity
2011
2.3%
2016
Number
Percent
Number
Percent
Number
Percent
White Alone
140,087
77.3%
141,175
77.2%
149,735
75.9%
Black Alone
16,973
9.4%
16,955
9.3%
18,709
9.5%
American Indian Alone
1,166
0.6%
1,175
0.6%
1,330
0.7%
Asian Alone
4,048
2.2%
4,036
2.2%
4,584
2.3%
116
0.1%
116
0.1%
127
0.1%
14,177
7.8%
14,704
8.0%
17,321
8.8%
Pacific Islander Alone
Some Other Race Alone
Two or More Races
Hispanic Origin (Any Race)
4,773
2.6%
4,823
2.6%
5,513
2.8%
40,079
22.1%
41,490
22.7%
51,627
26.2%
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
August 14, 2012
©2012 Esri
Page 5 of 6
Demographic and Income Profile
Furrs - Alta Mere
Ring: 5 mile radius
Prepared by Kenneth Wimberly
Latitude: 32.724102
Longitude: -97.440673
Annual Rate (in percent)
Trends 2011-2016
3
2.5
2
1.5
1
Area
State
USA
0.5
0
Population
Households
Families
Owner HHs
Median HH Income
Population by Age
14
Percent
12
10
8
6
4
2011
2016
2
0
0-4
5-9
10-14
15-19
20-24
25-34
45-54
55-64
65-74
75-84
85+
2011 Population by Race
2011 Household Income
$25K - $34K
12.1%
35-44
75
$15K - $24K
12.6%
70
65
60
<$15K
12.7%
55
50
Percent
$35K - $49K
16.0%
$200K+
4.5%
$150K - $199K
3.2%
45
40
35
30
25
20
15
$100K - $149K
9.9%
$50K - $74K
18.8%
$75K - $99K
10.2%
10
5
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2011 Percent Hispanic Origin: 22.7%
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
August 14, 2012
©2012 Esri
Page 6 of 6
Professional Biographies
Noble Crest Property Group
KEN WIMBERLY, CCIM
Kenneth F. Wimberly serves as Managing Director for KW Commercial (Noble Crest Property
Group), specializing in investment sales with a strong background in land sales, lot sales and
acquisition, syndications, site selection, bank REO’s, and buyer/tenant representation. His clients
include commercial developers, residential developers, homebuilders, banks, and private
investors.
Prior to joining KW Commercial, Wimberly served as a Senior Advisor at Sperry Van Ness. He is founder and president of
a real estate investment firm, Noble Crest Capital, Inc. (NCC), and previously served as an agent for Ritter and Associates
Real Estate, specializing in land sales. Wimberly served his country as an aircrew member flying aboard EP-3E aircraft as
a CTR (cryptologist technician – Morse code) for the United States Navy, stationed in Misawa, Japan. He has also worked
in the insurance/investment field and has held the Series 6, Series 7, and Series 63 investment licenses and the Group I
insurance license. He received his CCIM designation in 2010 and is a member of the International Council of Shopping
Centers (ICSC).
Wimberly is a member of the Greater Fort Worth Association of Realtors, the Texas Association of Realtors, and the
Society of Commercial Realtors. Additionally, he served as the 2008 Chairman of the Board of Directors for the Society of
Commercial Realtors in Fort Worth. He previously served on the RCA/Governing Council of the Texas Association of
Realtors.
He is active in his community and volunteers his time as a “Big” in the Big Brothers/Big Sisters program. He has two
children, Knox and Grace, and is engaged to be married to Amber Prater in March 2013. The family enjoys spending
their time travelling, snow skiing, playing board games, and playing Texas Hold’em Poker!
BRAD MOTLEY
Brad Motley joined Noble Crest Property Group | KW Commercial as an Associate specializing in
NNN properties in 2012.
Brad has a BBA in Real Estate from the University of Texas in Arlington and was a member of the
Golden Key International Honor Society. Brad’s real estate career began in 2007 as a
Commercial Sales/Leasing Agent for ERA Courtyard Realtors and West Texas Realty in Lubbock,
Texas. During this time he represented buyers and tenants in both the office and retail sectors.
He also represented sellers of retail properties.
After graduation, Brad started Motley Investment Group, LLC, a commercial real estate investment company dedicated
to retail and office rehab projects and still serves as owner/manager. Brad has also served as Managing Partner of
Mehagan, Motley and Associates, LLC, a commercial remodeling company.
Brad lives in Haslet, Texas with his wife, Emily and enjoys baseball, golf and hunting.
Information About Brokerage Services
Noble Crest Property Group
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.
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 sub agency 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.
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 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
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:
(1) Shall treat all parties honestly;
(2) May not disclose that the owner will accept a price
less than 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
(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.
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 the 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..
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