FOR SALE 15+ Acres SAGINAW, TEXAS The Frey Young Group, LLC Size: Zoning: 15.07 Acres with frontage on Old Decatur Road Adjacent to rear of new Wal-Mart 214,000 sq. ft. SuperCenter Presently zoned AG future CC Community Commercial 4949 Westgrove Drive Suite 200 Dallas, TX 75248 Office: 972-239-8753 Ext. 3815 Direct: 469-341-3815 Cell: 214-616-9658 Office Fax: 972-239-5174 dfrey@freyyoung.com www.freyyoung.com Comments: Old Decatur Road frontage. Access from Highway 287 also. Single family, multi-family, and commercial users. Behind the new Wal-Mart Superstore. Price: $2.50 per sq. ft. or $1,641,123. Contact: Don Frey The Frey Young Group, LLC 4949 Westgrove Drive, Suite 200 Dallas, TX 75248 Office: 469-341-3815 Fax: 972-239-5174 Cell: 214-616-9658 All information in this presentation is from sources deemed reliable by our firm, but no guarantee is made or responsibility assumed by The Frey Young Group, LLC as to its accuracy or completeness, and you are advised to make your own analysis and verification. This presentation is subject to change in price, corrections, prior sale or withdrawal without notice.
Saginaw Area Overview Saginaw, Texas sits solidly in the heart of the Dallas/Fort Worth Metroplex. Saginaw remains an agriculture business center for much of Texas, with some of the largest grain storage facilities in the United States. Conveniently located nine miles North of Downtown Fort Worth and 37 miles West of Dallas, Saginaw is situated just a few minutes away from Eagle Mountain Lake and Lake Worth. Alliance Airport and Texas Motor Speedway are located within 15 miles of the city, and The Federal Bureau of Printing and Engraving facility is located less than a mile from Saginaw. The city is the ultimate in transportation convenience. The community is located at the intersection of Interstate Loop 820 and Highway 287, less than a mile from Interstate 35W. The Dallas/Fort Worth Airport is 20 miles east of Saginaw and Meacham Airport is only three miles away. The Saginaw area is served by four financial institutions: Wells Fargo Bank, Southwest Bank, American Bank, and First Convenience Bank. The Education Employees Credit Union is also located in Saginaw. The city of Saginaw was settled in 1848 by David Thurmond and his family from Virginia. In 1882, Jarvis J. Green from Michigan named the city Saginaw after a city in his home state. The first public school was started in 1893, with the Post Office established in 1933. Saginaw was incorporated in 1949 and in 1966, with a population of 1,740, the citizens voted to build a new City Hall. In 1983, the City Hall moved to its current location on West McLeroy Boulevard. The city is currently a Home Rule city with a Council-Manager form of government. The elected officials include the Mayor and six council members. They are elected at large and serve a three-year term. The population increased from 1,001 in the 1960 census to 5,736 in the 1980 census. The 1990 census count was 8,551, followed by the 2000 census count of 12,374. The 2005 estimated population was 17,510, with a forecast of 18,404 for 2006. Area Recreation and Attractions Saginaw has seven parks, two public tennis courts, a rollerblade court, a volleyball court, a softball field, a disc golf course, recreation center, community center and senior citizens center. Each school within the Eagle Mountain-Saginaw School District has playgrounds and facilities available to the public. Willow Creek Park is a 65-acre park containing a one and one-half mile jogging/ bicycle path, picnic sites, lighted softball and soccer fields, tennis courts, roller-blade court, disc golf course, and a playground. A large pavilion at the North end of the park is available by reservation.
Other parks located throughout the city include: Highland Station Park, located on High Country Trail, featuring children's play area and hiking trail Brian Schwengler Park, located at Thompson Drive and Longhorn Road, featuring children's play area William Houston Park, located on Park Center Boulevard, featuring children's play area Opal Jo Jennings Park, located at Opal Street and Mustang Drive, featuring children's play area Sagewood Park, located on Sagewood Lane, featuring children's play area Knowles-Towery Park, located at Saginaw Boulevard and West Southern Avenue, featuring gazebo and outdoor stage The Saginaw Recreation Center is located at 633 W. McLeroy Boulevard. It has four multipurpose activity rooms, a full-size gymnasium, a performance area, an equipped fitness center, restroom/locker/shower facilities, a game room, and a racquetball court. Adult programs include jazzercise, step aerobics, Pilates, massage therapy, CRP certification, Tae Kwon Do, Tong IL Lo martial science, and karate. Youth activities include cheerleading, gymnastics, music, hip-hop dance, tap, ballet, karate, and fun time live. Basketball, baseball, softball, and volleyball leagues are also offered through the Recreation Center. The Saginaw Community Center is located at 720 Park Center Boulevard, with the Log Cabin Senior Citizens Center located at 405 South Belmont Street. Saginaw is the home of Eagle Mountain Lake, a beautiful body of water often dotted by sailboats and cabin cruisers. Also within a short distance of the city, are the historic Fort Worth Stockyards, the magnificent Bass Performance Hall, Kimbell Art Museum, Amon Carter Museum of Western Art, Texas Motor Speedway, the Southwestern Exposition Fat Stock Show and Rodeo, and Six Flags Over Texas Amusement Park. The community is also conveniently located to major sporting events with national teams: the Texas Rangers featured at the Ballpark in Arlington, and the Dallas Cowboys, whom will be relocating to their new stadium in Arlington upon its completion in 2010. A few years ago, the citizens of Saginaw were presented with a bond election for a variety of projects. One of the projects presented and voted for approval was the construction of a city aquatic center. Over the past several months, city staff has worked closely with Kimley- Horn, city engineers and architects, on the design of this facility. At the June 6, 2006 City Council meeting, construction bid was awarded to Workman Construction. The Saginaw Aquatic Center will feature a six-lane competition lap pool, a leisure pool that will have a custom train themed play structure with water slides, several spray and splash features, and a small train slide. Also featured at the Aquatic Center will be a large water slide, full service concession stand, showers, lockers, restrooms, two group pavilions, and lots of shade and seating. This development will be located at 633 West McElroy Boulevard, approximately one to two miles from the development site of La Mira Villa Apartment Homes and Retail. Area Schools Served by the Eagle Mountain-Saginaw Independent School District, the city features Central Administration Offices that provide oversight of nine elementary schools, three middle schools, and three high schools.
Market Analysis Saginaw, Texas The Fort Worth area's job base increased by 18,100 positions during the past year, registering a 2.2% increase from year earlier employment levels. Occupancy in Fort Worth is over 92% in whole and is forecasted to shoot up to over 93% by this time next year. In the Fort Worth metro, conditions remain highly competitive, though noted improvement is occurring in areas like Southwest Tarrant County, Northwest Tarrant County, Haltom City/Richland Hills, and Centreport. Despite an increased volume of new units coming on line in the Intown/Cultural District, demand is likely to keep pace with the new supply, causing a minor increase in occupancy for the neighborhood. Sizable rent growth and meaningful occupancy increases occurred in many submarkets, which is very exciting for owners and operators in the region The property is located in Saginaw. Its strategic location provides easy access to Interstate 820, and I -35 West. The property will be located in the Northwest Tarrant County submarket. The Northeast Tarrant County submarket posted demand for 850 units in the year-ending 2 nd quarter 2006. Demand was boosted by new supply, as 830 new apartments were completed during this period. This demand puts the submarket at the top 20% for the entire Dallas Forth Worth area. The Northwest submarket came in with a 94% occupancy the last quarter. This put it in the top 15% occupancy leaders in DFW And in the top 1% for Tarrant County. All indicators say incredible market incredible timing. In a three and one half mile radius of the property, you will find limited multi-family residential opportunities available. With just 10 communities and much distance between several of the assets an aggressive lease plan with great management will allow this project to be occupied quickly. The 10 communities have a total of 2,024 units, only six are actual competitors for the property, the others are much older and truly do not compete. The occupancy in Saginaw is at a fantastic 97%, the occupancy average for the 10 communities is 80%, however this average includes two new construction properties in lease up, if you exclude these the occupancy is 94%.
Neighborhood Summary The new property will be located at W. McLeroy and Old Decatur Highway. As outlined in the area summary previously, the Saginaw area is a developing area, and it is anticipated that positive growth will be the trend for many years in this area. Below is a summary of the areas that immediately adjoin the proposed development. North East Corner: Zoned Commercial and its bounds meet up with a well established single family home development. Some lots are still under construction, but demand is high and they are filling up. There is a lovely park and community pool at the entrance located on W. McLeroy and Knowles Road less than a third of a mile away from the subject property. North West Corner: Lennar Homes single family home development with prices starting at the 100s to 120s. The entrance is very clean and beautifully landscaped. South East Corner: Zoned Multifamily (11.48 Acres is also bounded by a well established single family home development. The entrance is located at McLeroy and Knowles Road on the south side and the entrance offers Willow Creek Park with exercise stations and walking trails that run throughout the development. N. Saginaw Blvd. and Bailey Boswell Road: Offers the newest shopping in the area. The northwest corner offers a brand new Wal-Mart, CVS Pharmacy and strip shopping that offers a number of tenants including Radio Shack and Cato's for women. The southwest corner has a new Albertson's ( approximately two + years old) and many of the favorite fast food chains such as McDonald's, Wendy's, Taco Bell and others. This is the main shopping area of Saginaw. Since 2002, Saginaw has added one additional Middle School and one additional High School. The Shops at Longhorn will be a fine addition to the area and this newest proposed retail will be located at the south east corner of Longhorn and Old Decatur Road.