REPRESENTATIVE PHOTO
Exclusive OFFERING | $1,063,000 – 7.00% CAP
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
214.915.8890
BOB MOORHEAD
bob@exp1031.com
JOE CAPUTO
joe@exp1031.com
RUSSELL SMITH
russell@exp1031.com
property. 2,976+ SF building on 0.33+ acre site
tenant. Lessee: Speedy Cash | 230+ locations in the US, Canada, and UK.
lease structure. 10-year corporate absolute NNN lease with (2) 5-year options and 10% rent increase every 5-years during base term and option periods.
location. The subject property is located on the northeast corner of the stop-lit intersection of Sam Houston Blvd (15,465 Cars / Day) and U.S. 77 (41,000 Cars /
Day) in San Benito, TX. The site is directly accessible via Sam Houston Blvd as well as US 77, which has entry and exit ramps .1-mile before and after the subject
property. US 77 is part of an arterial north/south highway system that spans from the international border with Mexico to the Oklahoma state line north of
Gainesville. National credit tenants in the immediate trade area include McDonald’s, Subway, Jack In The Box, Dollar General, Family Dollar, AutoZone, Valero,
Stripes, Cricket Wireless, and many others. The subject property is within close proximity to three schools as well as a Union Pacific rail line.
The site is located in the Texas Rio Grande Valley. This 4-county area has a population of 1,138,872 which grew by 36.05% over the last 10-years.
Table of contents | Disclaimer
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
Disclaimer
PAGE 1:
COVER
PAGE 2:
TABLE OF CONTENTS | DISCLAIMER
PAGE 3:
INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 4-5:
AERIAL PHOTOS
PAGE 6:
SITE PLAN
PAGE 7:
SITE RENDERING
PAGE 8:
LOCATION OVERVIEW
PAGE 9-10:
LOCATION MAPS
PAGE 11:
DEMOGRAPHICS
REPRESENTATIVE
SUBJECTPHOTO
PROPERTY
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located 695 S. Sam Houston Blvd, San Benito, TX by the owner of the Property
(“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller
and Agent make no representations or warranties as to the accuracy of the information
contained in this Offering Memorandum. The enclosed materials include highly confidential
information and are being furnished solely for the purpose of review by prospective
purchasers of the interest described herein. The enclosed materials are being provided
solely to facilitate the prospective investor’s own due diligence for which it shall be fully and
solely responsible. The material contained herein is based on information and sources
deemed to be reliable, but no representation or warranty, express or implied, is being made
by Agent or Seller or any of their respective representatives, affiliates, officers, employees,
shareholders, partners and directors, as to the accuracy or completeness of the information
contained herein. Summaries contained herein of any legal or other documents are not
intended to be comprehensive statements of the terms of such documents, but rather only
outlines of some of the principal provisions contained therein. Neither the Agent nor the
Seller shall have any liability whatsoever for the accuracy or completeness of the
information contained herein or any other written or oral communication or information
transmitted or made available or any action taken or decision made by the recipient with
respect to the Property. Interested parties are to make their own investigations, projections
and conclusions without reliance upon the material contained herein. Seller reserves the
right, at its sole and absolute discretion, to withdraw the Property from being marketed for
sale at any time and for any reason. Seller and Agent each expressly reserves the right, at
their sole and absolute discretion, to reject any and all expressions of interest or offers
regarding the Property and/or to terminate discussions with any entity at any time, with or
without notice. This offering is made subject to omissions, correction of errors, change of
price or other terms, prior sale or withdrawal from the market without notice. Agent is not
authorized to make any representations or agreements on behalf of Seller. Seller shall
have no legal commitment or obligation to any interested party reviewing the enclosed
materials, performing additional investigation and/or making an offer to purchase the
Property unless and until a binding written agreement for the purchase of the Property has
been fully executed, delivered, and approved by Seller and any conditions to Seller’s
obligations hereunder have been satisfied or waived. By taking possession of and
reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
2
Investment overview
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
Lease overview
PRICE:
$1,063,000
CAP RATE:
Initial Lease Term:
10-Years, Plus 2, 5-Year Options to Renew
7.00%
Rent Commencement:
Estimated October 2014
NET OPERATING INCOME:
$74,400
Lease Expiration:
Estimated October 2024
BUILDING AREA:
2,976+ Square Feet
Lease Type:
Absolute NNN
LAND AREA:
0.33+ Acres
Rent Increases:
10% in Lease Year 6 & Each Option Period
YEAR RENNOVATED:
2014
Year 1-5 Annual Rent (Current):
$74,400
Year 6-10 Annual Rent:
$81,840
LANDLORD RESPONSIBILITY:
None
Year 11-15 Annual Rent (Option 1):
$90,204
OWNERSHIP:
Fee Simple Interest
Year 16-20 Annual Rent (Option 2):
$99,041
OCCUPANCY:
100%
Tenant overview
SCIL TEXAS LLC, d/b/a Speedy Cash
SPEEDY CASH | http://www.speedycash.com
Speedy Cash is one of the largest, fastest growing providers of short-term loans and financial services in the United States, Canada, and the United Kingdom. In
1997, the first store opened in Riverside, California. Speedy Cash was founded by three childhood friends from Wichita, Kansas. Thanks to their determination to
be better and strong entrepreneurial spirit (which is very much alive in the company today), Speedy Cash is an American success story. Speedy Cash will grow
well beyond 250 stores in the USA, Canada, and UK. Speedy Cash has distinguished itself from competitors with quality product offerings, genuine Customer
Service, robust operating systems, a state-of-the-art call center, and a track record of new product innovation. Speedy Cash Holds Corp offers a variety of
alternative financial related services and products to their customers’ needs. Services include cash advances, installment loans, vehicle title loans, check cashing,
gold buying, money transfer services, reloadable prepaid debit cards and a number of other ancillary financial products and services. Employees are excited to be
SUBJECTgrown
PROPERTY
a part of the Speedy Cash family, as witnessed by low turnover rates and energized Company culture. The company has consistently
well ahead of other
payday loan lenders and is primed for continued growth and enduring success.
PRIOR TO PANDA EXPRESS EXPANSION
Speedy Cash operates under two principal brands in the U.S. as either “Speedy Cash” or “Rapid Cash”. They operate in the U.K. as “Speedy Cash” and their
principal brand operates in Canada as “Cash Money”. As of December 31, 2011 they operated a total of 102 US retail locations in ten states under Speedy Cash
and Rapid Cash brands. They also have a significant internet presence and offer loans online in 22 states. In May 2011, the company acquired 114 Cash Money
stores to establish a presence in Canada and as of December 2011 operated 120 retail locations in Canada. In 2011 the company began offering loans in the U.K
and continues to expand its presence with the opening of stores in 2012 and 2013.
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AERIAL PHOTO
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
Gateway To
Graduation
Academy
Dr. C.M. Cash
Elementary
San Benito
School
Landrum
Elementary
4
AERIAL PHOTO
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
5
SITE PLAN
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
6
SITE RENDERING
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
7
Location overview
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
IMMEDIATE TRADE AREA
RIO GRANDE VALLEY
The subject property is located on the northeast corner of the stop-lit intersection of
Sam Houston Blvd (15,465 Cars / Day) and U.S. 77 (41,000 Cars / Day) in San
Benito, TX. The site is directly accessible via Sam Houston Blvd as well as US 77,
which has entry and exit ramps .1-mile before and after the subject property. US 77
is part of an arterial north/south highway system that spans from the international
border with Mexico to the Oklahoma state line north of Gainesville.
The Rio Grande Valley is located in the southernmost tip of Texas and is made
up of 4 counties: Starr County, Hidalgo County, Willacy County, and Cameron
County. This area is anchored by the cities of Brownsville, McAllen, Edinburg,
Pharr and Mission. These 4 counties where these cities area located have a
combined population of 1,138,872 and is growing quickly Hidalgo County,
which encompasses the McAllen-Edinburg-Mission Metropolitan Statistical
Area had a population increase of 36.05% placing it as the 11th fastest
growing Metropolitan Statistical Area from 2000 to 2010 in the United States.
National credit tenants in the immediate trade area include McDonald’s, Subway,
Jack In The Box, Dollar General, Family Dollar, AutoZone, Valero, Stripes, Cricket
Wireless, and many others. The subject property is within close proximity to three
schools as well as a Union Pacific rail line.
SAN BENITO, TEXAS
Situated in deep South Texas near the center of the lower Rio Grande Valley, San
Benito is flanked by Mexico to its west, while the Gulf of Mexico lies to its east. Just
outside San Benito’s city limits is an industrial park that houses several giant
warehouses that store goods for shipment to and from Mexico’s maquiladoras.
The warehouses at Los Indios employ a significant number of San Benito area
residents. The Los Indios Free Trade Bridge, located about ten miles south of
San Benito on F.M. 509 at Los Indios on the U.S. / Mexican border, is utilized
in transporting the goods across the border. This year-to-date the bridge has
seen more than 1.7 million vehicles and pedestrians cross the international
span, with the numbers expected to increase as time goes by.
The city’s economy is also impacted by the North American Free Trade
Agreement (NAFTA), the growth of manufacturing plants and the shipping
industry of fruits and vegetables via the Free Trade International Bridge at Los
Indios. The maquiladora (twin manufacturing plant) industry sprung from
NAFTA. It operates on the concept of manufacturing with labor-intensive work
performed in Mexico, where labor costs less, coupled with support facilities on
the U.S. side.
Demonstrating an interest in eco-tourism, the city is working on a constructed
wetlands project that will purify water, provide an area for recreational bird
watching and attract visitors to the community. The Rio Grande Valley is one of
the top 12 birding hot spots in the nation and every year, thousands of
naturalists converge upon the Rio Grande Valley in search of some of the 484
species which have been sighted locally. Additionally, San Benito is home to a
solar panel energy project that will provide power to a new water treatment
plant that is under construction.
The McAllen-Edinburg-Mission MSA is also part of the transnational
metropolitan area (TMA) of Reynosa–McAllen, known unofficially as “RioPlex”
or “BorderPlex”. The transnational statistical area is represented by 40 of
America’s top 100 retailers.
More than 80 of Fortune 500’s global
manufacturers have operations in the MSA. Included among them are: AT&T,
Bissell, Black & Decker, BMW, Delco, Drexel, Meyer, Eaton, Emerson, GE,
Johnson Controls, Nokia, R.R. Donnelley & Sons, Panasonic, Siemens, Sony,
Symbol, TRW, West Bend and Whirlpool. The TMA is the retail center of South
Texas and Northern Mexico, drawing from a consumer base of over 8.2 million
people.
The Rio Grande Valley and the rest of South Texas are among the most
dynamic regions of Texas. In a recent economic report by the State
Comptroller the economic outlook of the region was rated as excellent with a
job creation expected to outpace that of the rest of the state through 2012.
This sector has become the driving force in the local economy, which has
grown 138% over the last decade to over $3.58 billion and employing 27% of
the local workforce.
MSA / TMA ACCOLADES:
• Fastest Growing Metro Area in the Nation –Fiscal Times, 2012.
• No. 1 Best Housing Market in the Nation –Wall Street Journal, 2012.
• No. 4 Best Mid-Sized Cities for Jobs –Forbes, 2011.
• Top 100 Location for Doing Business –Area Development Magazine, 2011
• One of the Top Ten Best Areas for Recession Recovery -Forbes, 2009.
• One of the Best Places to Launch a Small Business –CNN Money, 2009.
• MSA Ranked 1st in High Technology Sector Growth in 2008.
• MSA has the 3rd Lowest Cost of Living in the US.
• Mexican Nationals Account for 20% to 35% of Border Exported Retail Sales.
8
Location map
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
9
Location map
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
10
Demographics
Speedy Cash
695 S. Sam Houston BLVD, San Benito, TX
Demographic snapshot
Radius
1 Mile
3 Mile
5 Mile
2019 Projection
15,138
28,618
57,463
2014 Estimate
14,605
27,619
55,092
2010 Census
14,466
27,378
53,458
Growth 2014-2019
3.65%
3.62%
4.30%
Growth 2010-2014
0.96%
0.88%
3.06%
2019 Projection
4,285
8,415
17,145
2014 Estimate
4,131
8,118
16,447
2010 Census
4,088
8,049
16,015
Growth 2014 - 2019
3.73%
3.66%
4.24%
Growth 2010 - 2014
-0.65%
0.18%
2.74%
Owner Occupied
2,688
5,745
11,077
Renter Occupied
1,443
2,373
5,370
2014 Avg Household Income
$35,630
$41,749
$49,083
2014 Med Household Income
$26,735
$30,586
$35,036
<$25,000
1,990
3,478
6,282
$25,000 - $50,000
1,177
2,275
4,271
$50,000 - $75,000
647
1,302
2,916
$75,000 - $100,000
208
584
1,521
30
181
541
$125,000 - $150,000
5
110
340
$150,000 - $200,000
52
125
285
$200,000+
23
61
291
Population:
Households:
McALLEN-REYNOSA INTERNATIONAL BRIDGE
2014 Households by Household Inc:
$100,000 - $125,000
SOUTH PADRE ISLAND, TX
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