Marketing Information - Campana Waltz Commercial Real Estate

Marketing Information - Campana Waltz Commercial Real Estate

For Sale
14858 Warwick Boulevard
Newport News, Virginia
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Campana Waltz Commercial Real Estate, LLC
Janice Lewis, CCIM
11832 Fishing Point Drive, Suite 400
Newport News, Virginia 23606
757.327.0333
Janice@CampanaWaltz.com
www.CampanaWaltz.com
This information was obtained from sources deemed to be reliable, but is not warranted.
This offer subject to errors and omissions, or withdrawal, without notice.
FOR SALE
14858 Warwick Boulevard
Newport News, Virginia
Location:
14858 Warwick Boulevard, Newport News, Virginia 23608
Description:
The Property is an attractive 1-story commercial building containing
approximately 1,200 square feet in a busy corridor in the Denbigh
neighborhood of Newport News. This was once used as a dentist office.
This location is perfect for the office or retail business.
Land Area:
.24 acres
Sales Price:
$145,000.00 Price reduced to $135,000.
Lease:
The Ownership will entertain a lease also.
Parking:
8-10 spaces
Traffic Count:
Zoning:
C1– Retail Commercial District. Multiple allowable uses by right are
attached in the marketing package.
General Information:
 Great road frontage on Route 60 / Warwick Boulevard
 Well established area
 Surrounded by numerous retailers and solid residential
neighborhoods
Also included:





Aerial and Location Maps
Floor Plan and Property Photographs
List of uses which are allowed by right
Newport News Enterprise Zone # 2-A
Demographics
For Additional Information, Please Contact:
Janice Lewis, CCIM
Campana Waltz Commercial Real Estate, LLC
11832 Fishing Point Drive, Suite 400
Newport News, Virginia, 23606
757.327.0333
Janice@CampanaWaltz.com
www.CampanaWaltz.com
This information was obtained from sources deemed to be reliable, but is not warranted.
This offer subject to errors and omissions or withdrawal without notice.
14858 Warwick Boulevard, Newport News
Reception
Admin
Office
.
closet
Office
RR
RR
Walk way
Office
sink
Kitchen
Break
Area
closet
Office
Office
Utility Room
Floor Plan – 1,200 +/- square feet on .24 acres
14858 Warwick Boulevard, Newport News
Property Pictures – 1,200 +/- square feet on .24 acres
FRONT OF THE BUILDING
BACK OF THE BUILDING
FRONT ENTRANCE / RECEPTION AND HALLWAY
OFFICE
OFFICE WITH EXIT DOOR BREAK AREA
For Sale
14858 Warwick Blvd. Newport News, Virginia
50,711 vehicles per day
This information was obtained from sources deemed to be reliable, but is not warranted.
This offer subject to errors and omissions, or withdrawal, without notice.
FACT SHEET : NEWPORT NEWS ENTERPRISE ZONES #2 AND #2-A
Enterprise Zone Program: A package of grants, tax incentives, financing eligibility and other benefits
offered by the Commonwealth of Virginia and the City of Newport News to new and expanding
businesses within the designated Enterprise Zone.
Contact: Department of Development (757) 926-8428
Matt Johnson, Business Retention Coordinator (757) 597-2840 Ext. 3
Tricia F. Wilson, Business Development Specialist (757) 926-3793
Benefits: Both the Commonwealth of Virginia and the City of Newport News offer financial rewards to
qualified new and expanding Enterprise Zone firms. Benefits offered by Virginia are grants, while benefits
offered by the City include tax incentives, grants, loan availability and technical assistance.
Benefits Available to Qualified Firms from the Commonwealth
 Real Property Investment Grant
 Job Creation Grant
Benefits Available to Qualified Firms from the City
 Expansion/Relocation Cost Reduction Incentive
 Business License Fee Abatement
 Refund of Local Electric and Gas Utility Taxes
 Commercial Rehabilitation Property Tax Abatement
 Waiver of Building Permit and Development Fees
Application to the Commonwealth:
For application forms and instructions for state Enterprise Zone incentives, please go to:
https://dmz1.dhcd.virginia.gov/EZApplication.
Application to the City:
Application forms and assistance are available from the City of Newport News, Department of
Development. Application forms may also be downloaded at
http://www.nngov.com/development/downloads/incentives/ez2application.pdf.
Commercial Rehabilitation Property Tax Abatement:
If you are substantially renovating a building that is twenty years of age (fifteen if in an Enterprise Zone)
or older, you may be eligible for a Commercial Rehabilitation Property Tax Abatement.
Low Interest Loans:
The City, through its Economic Development Authority and its Redevelopment and Housing Authorities,
offers a variety of low-interest loans for fixed asset acquisition. Companies located in a Virginia Enterprise
Zone may be eligible for enhanced benefits under these programs. For more information about the City’s
low-interest loan programs, call: Ms. Tricia Wilson, Business Development Specialist 757-926-3793 or
visit the City’s website at http://www.nngov.com/development/resources/loanleadin.html.
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Date: 9/4/2012
C1 (Retail Commercial) Allowable Uses, Newport News
Page 1 of 4
Housing for Older Persons, Single Family attached
Housing for Older Persons, Multiple Family
Group Home
Halfway House
Bed & Breakfast
Adult Care Residence
Custodian Apartment
Congregate House for Children
C
C
C
C
P
C
P
C
Health
Hospice
Medical Center Complex
Hospital
Medical and Dental Laboratory
Nursing Home, Convalescent Home
Optician
Outpatient Care Clinic
Pharmacy/Drug Store
Physical Therapist
Physician, Dentist or Optometrist
Veterinary Facility with Kennel
Veterinary Facility without Kennel
Utilities
Electrical Substation
Elevated Water Storage Tank
Local Utilities
Communication Tower/Antenna
Transmission Lines
Educational Services
Child Care Center
College, University
Other Educational/Group Instruction
Vocational School
Business School
Community Facilities
Church/Synagogue
Community Center
Fire Station
Funeral Home
Library
Lodge, Fraternal or Social Organization
Neighborhood Swimming Pool
Police Station
Post Office/Parcel Pick Up Station
Public/Private Golf Courses
P
P
P
P
P
P
P
P
P
P
C
P
P
P
P
C
C
P
P
P
P
P
P
P
P
P
P
P
P
P
P
P
C1 (Retail Commercial) Allowable Uses, Newport News
Page 2 of 4
Public/Semi-Public Museum or Art Gallery
Public Park
Business Services
Admin Support Offices
Bank, Loan Office or Credit Union
Business Admin Offices
Parcel Distribution Center
Professional Office
Personal Services
Artist or Photography Studio
Beauty/Barber Shop
Coin Operated Commercial Laundry
Dry Cleaning Pickup
Dry Cleaning Plant
Recording studio
Shoe Repair
Tailor Shop
Travel Agency
Pet Grooming Service
Recreational Uses
Billiard Parlor
Bingo Parlor
Bowling Alley
Coin Operated Amusement Arcade
Country/Yacht Club
Health Club/Fitness Center
Skateboard Ramp
Skating Rink
Theater or Stage
Retail Services
Adult Use
Appliance Sales
Appliance Services
Bakery (Retail)
Bicycle Sales & Service
Book Store
Building Supply, Retail
Camera Store
Cemetery Monument Sales
Computer Sales & Service
Concession Stand
Convenience Store without gasoline
Craft Store
P
P
P
P
P
C
P
P
P
P
P
C
P
P
P
P
P
C
C
C
C
P
P
C
C
P
C
P
P
P
P
P
C
P
P
P
P
P
P
C1 (Retail Commercial) Allowable Uses, Newport News
Page 3 of 4
Department Store
P
Duplicating Store
P
Extended Stay Motel
P
Florist, Horticultural & Nursery
P
Furniture & Upholstery Store
P
Garden Supply Store
P
Golf Pro Shop/Clubhouse
P
Grocery Store
P
Hardware Store
P
Home Accessory Store
P
Ice Cream/Candy Store
P
Interior Decorating Store
P
Jewelry Sales, Service & Repair
P
Kennel
C
Light Equipment Rental & Leasing
P
Liquor Store
P
Mall/Mall Building (Enclosed)
P
Medical Supply Sales
P
Motel/Hotel
P
Needlework & Piece Goods Store
P
Novelty & Souvenir Store
P
Off-Premise Sale of Alcohol in an Establishment <1,600SF C
Pawn Shop
C
Pet Store
P
Printing Engraving, Blueprinting & Copying
P
Restaurant/Cafeteria/Delicatessen w/Drive-Thru Service P
(not adjacent to residential property)
Restaurant/Cafeteria/Delicatessen w/o Drive-Thru Service P
Restaurant/Cafeteria/Delicatessen w/Drive-Thru Service C
(adjacent to residential property)
Retail Sales by Wholesaler of Same Goods
P
Sporting Goods
P
Stationery Store
P
Tennis Pro Shop/Clubhouse
P
Toy or Hobby Store
P
Used Merchandise Sales
P
Variety Store
P
Video Rental
P
Wearing Apparel/Shoe Store
P
Auto & Marine Services
Auto Parts Store (No Service)
P
Automobile Fuel & Kerosene Sales (Supplemental)
C
Automobile Gasoline Supply Station
C
Automobile Sales/New Car Dealership
C
C1 (Retail Commercial) Allowable Uses, Newport News
Page 4 of 4
Car Wash
Automobile Upholstery
Automobile, Limousine, Van, Motorcycle Leasing/Rental
Boat & Yacht Sales
Boat Basin
Marina
Transportation
Bus Stop, Bus Shelter or Taxi Stand
Helistop or Heliport
Off-Site Parking Lot or Garage
Transit Terminal for Bus, Rail, Boat, Ship or Other
Mass Transit
Wholesale & Warehouse
Distribution Center for Retail Goods, Mail Order
Distribution Warehouse
Mini-Storage Warehouse-Single Entrance Interior Storage
Open Industrial
Small Repair, Small Construction Shop &
Small Contractors Office
C = Conditional Use
P = Permitted Use
C
C
C
C
P
C
P
C
P
C
C
C
C
C
Demographic and Income Profile
14858 Warwick
14858 Warwick Blvd, Newport News, VA, 23608, NN Enterpris...
Ring: 1 mile radius
Summary
Prepared by Janice Lewis, CCIM
Latitude: 37.136917597
Longitude: -76.54536997
2010
2011
2016
12,883
12,914
12,943
Households
4,911
4,924
4,967
Families
3,439
3,448
3,450
2.62
2.62
2.60
Owner Occupied Housing Units
2,925
2,822
2,831
Renter Occupied Housing Units
1,986
2,102
2,136
33.4
33.5
33.8
Area
0.05%
0.17%
0.01%
0.06%
2.76%
State
0.86%
0.87%
0.73%
1.04%
3.62%
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
585
11.9%
623
12.5%
$15,000 - $24,999
640
13.0%
533
10.7%
$25,000 - $34,999
698
14.2%
604
12.2%
$35,000 - $49,999
924
18.8%
777
15.7%
$50,000 - $74,999
1,066
21.6%
1,027
20.7%
$75,000 - $99,999
567
11.5%
830
16.7%
$100,000 - $149,999
343
7.0%
440
8.9%
$150,000 - $199,999
56
1.1%
75
1.5%
$200,000+
47
1.0%
56
1.1%
Median Household Income
Average Household Income
Per Capita Income
$42,420
$52,905
$20,153
2010
Population by Age
$48,594
$59,002
$22,618
2011
2016
Number
Percent
Number
Percent
Number
Percent
0-4
966
7.5%
958
7.4%
972
7.5%
5-9
975
7.6%
975
7.6%
972
7.5%
10 - 14
958
7.4%
958
7.4%
961
7.4%
15 - 19
987
7.7%
987
7.6%
926
7.2%
20 - 24
856
6.6%
864
6.7%
836
6.5%
25 - 34
1,994
15.5%
2,000
15.5%
2,039
15.8%
35 - 44
1,674
13.0%
1,664
12.9%
1,591
12.3%
45 - 54
1,876
14.6%
1,869
14.5%
1,704
13.2%
55 - 64
1,363
10.6%
1,380
10.7%
1,476
11.4%
65 - 74
757
5.9%
779
6.0%
958
7.4%
75 - 84
382
3.0%
383
3.0%
402
3.1%
97
0.8%
97
0.8%
106
85+
2010
Race and Ethnicity
2011
0.8%
2016
Number
Percent
Number
Percent
Number
Percent
White Alone
4,948
38.4%
4,926
38.2%
4,734
36.6%
Black Alone
6,209
48.2%
6,241
48.3%
6,283
48.6%
75
0.6%
75
0.6%
79
0.6%
546
4.2%
542
4.2%
547
4.2%
16
0.1%
16
0.1%
17
0.1%
Some Other Race Alone
400
3.1%
416
3.2%
504
3.9%
Two or More Races
690
5.4%
696
5.4%
777
6.0%
1,282
10.0%
1,336
10.3%
1,659
12.8%
American Indian Alone
Asian Alone
Pacific Islander Alone
Hispanic Origin (Any Race)
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
October 05, 2012
©2012 Esri
Page 1 of 6
Demographic and Income Profile
14858 Warwick
14858 Warwick Blvd, Newport News, VA, 23608, NN Enterpris...
Ring: 1 mile radius
Prepared by Janice Lewis, CCIM
Latitude: 37.136917597
Longitude: -76.54536997
Trends 2011-2016
Annual Rate (in percent)
3.5
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
12
Percent
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
14.2%
35-44
$15K - $24K
13.0%
45
40
35
<$15K
11.9%
$200K+
1.0%
$150K - $199K
1.1%
Percent
30
$35K - $49K
18.8%
$100K - $149K
7.0%
25
20
15
10
$50K - $74K
21.6%
$75K - $99K
11.5%
5
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2011 Percent Hispanic Origin: 10.3%
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
October 05, 2012
©2012 Esri
Page 2 of 6
Demographic and Income Profile
14858 Warwick
14858 Warwick Blvd, Newport News, VA, 23608, NN Enterpris...
Ring: 3 mile radius
Summary
Prepared by Janice Lewis, CCIM
Latitude: 37.136917597
Longitude: -76.54536997
2010
2011
2016
Population
75,322
75,153
74,577
Households
28,018
27,943
27,909
Families
19,359
19,299
19,125
2.59
2.59
2.57
Owner Occupied Housing Units
15,375
14,802
14,792
Renter Occupied Housing Units
12,643
13,141
13,117
31.2
31.2
31.5
Area
-0.15%
-0.02%
-0.18%
-0.01%
2.52%
State
0.86%
0.87%
0.73%
1.04%
3.62%
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
3,130
11.2%
3,225
11.6%
$15,000 - $24,999
2,866
10.3%
2,349
8.4%
$25,000 - $34,999
3,542
12.7%
2,971
10.6%
$35,000 - $49,999
5,054
18.1%
4,148
14.9%
$50,000 - $74,999
6,169
22.1%
5,747
20.6%
$75,000 - $99,999
3,687
13.2%
5,196
18.6%
$100,000 - $149,999
2,569
9.2%
3,177
11.4%
$150,000 - $199,999
663
2.4%
799
2.9%
$200,000+
263
0.9%
297
1.1%
Median Household Income
Average Household Income
Per Capita Income
$47,539
$58,244
$22,713
2010
Population by Age
$53,839
$64,493
$25,226
2011
2016
Number
Percent
Number
Percent
Number
Percent
0-4
6,032
8.0%
5,950
7.9%
6,001
8.0%
5-9
5,404
7.2%
5,390
7.2%
5,335
7.2%
10 - 14
5,112
6.8%
5,100
6.8%
5,088
6.8%
15 - 19
5,673
7.5%
5,646
7.5%
5,287
7.1%
20 - 24
6,975
9.3%
6,988
9.3%
6,741
9.0%
25 - 34
12,746
16.9%
12,750
17.0%
12,891
17.3%
35 - 44
9,653
12.8%
9,568
12.7%
9,101
12.2%
45 - 54
10,221
13.6%
10,127
13.5%
9,176
12.3%
55 - 64
6,925
9.2%
6,986
9.3%
7,409
9.9%
65 - 74
3,758
5.0%
3,844
5.1%
4,657
6.2%
75 - 84
2,110
2.8%
2,101
2.8%
2,150
2.9%
710
0.9%
704
0.9%
744
85+
2010
Race and Ethnicity
2011
1.0%
2016
Number
Percent
Number
Percent
Number
Percent
White Alone
35,967
47.8%
35,640
47.4%
34,023
45.6%
Black Alone
29,330
38.9%
29,410
39.1%
29,469
39.5%
408
0.5%
407
0.5%
438
0.6%
2,992
4.0%
2,946
3.9%
2,935
3.9%
183
0.2%
181
0.2%
200
0.3%
Some Other Race Alone
2,473
3.3%
2,582
3.4%
3,108
4.2%
Two or More Races
3,967
5.3%
3,985
5.3%
4,403
5.9%
Hispanic Origin (Any Race)
7,382
9.8%
7,676
10.2%
9,481
12.7%
American Indian Alone
Asian Alone
Pacific Islander Alone
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
October 05, 2012
©2012 Esri
Page 3 of 6
Demographic and Income Profile
14858 Warwick
14858 Warwick Blvd, Newport News, VA, 23608, NN Enterpris...
Ring: 3 mile radius
Prepared by Janice Lewis, CCIM
Latitude: 37.136917597
Longitude: -76.54536997
Trends 2011-2016
Annual Rate (in percent)
3.5
3
2.5
2
1.5
1
Area
State
USA
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
45-54
55-64
65-74
75-84
85+
2011 Population by Race
2011 Household Income
$25K - $34K
12.7%
35-44
45
$15K - $24K
10.3%
40
35
$35K - $49K
18.1%
<$15K
11.2%
Percent
$200K+
0.9%
30
$150K - $199K
2.4%
25
20
15
$100K - $149K
9.2%
$50K - $74K
22.1%
10
5
$75K - $99K
13.2%
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2011 Percent Hispanic Origin: 10.2%
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
October 05, 2012
©2012 Esri
Page 4 of 6
Demographic and Income Profile
14858 Warwick
14858 Warwick Blvd, Newport News, VA, 23608, NN Enterpris...
Ring: 5 mile radius
Summary
Prepared by Janice Lewis, CCIM
Latitude: 37.136917597
Longitude: -76.54536997
2010
2011
2016
109,078
109,258
109,498
Households
41,957
42,026
42,393
Families
28,402
28,431
28,426
2.52
2.52
2.51
Owner Occupied Housing Units
24,063
23,324
23,672
Renter Occupied Housing Units
17,894
18,702
18,721
32.6
32.7
33.1
Area
0.04%
0.17%
0.00%
0.30%
2.61%
State
0.86%
0.87%
0.73%
1.04%
3.62%
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
3,877
9.2%
3,993
9.4%
$15,000 - $24,999
3,896
9.3%
3,166
7.5%
$25,000 - $34,999
4,856
11.6%
4,030
9.5%
$35,000 - $49,999
7,390
17.6%
6,008
14.2%
$50,000 - $74,999
9,447
22.5%
8,842
20.9%
$75,000 - $99,999
5,734
13.6%
8,082
19.1%
$100,000 - $149,999
4,761
11.3%
5,914
14.0%
$150,000 - $199,999
1,329
3.2%
1,577
3.7%
736
1.8%
781
1.8%
$200,000+
Median Household Income
Average Household Income
Per Capita Income
$51,699
$64,511
$25,610
2010
Population by Age
$58,802
$71,711
$28,569
2011
2016
Number
Percent
Number
Percent
Number
Percent
0-4
8,169
7.5%
8,079
7.4%
8,184
7.5%
5-9
7,429
6.8%
7,424
6.8%
7,381
6.7%
10 - 14
7,248
6.6%
7,249
6.6%
7,277
6.6%
15 - 19
7,888
7.2%
7,869
7.2%
7,401
6.8%
20 - 24
9,906
9.1%
9,952
9.1%
9,646
8.8%
25 - 34
17,578
16.1%
17,636
16.1%
17,953
16.4%
35 - 44
13,978
12.8%
13,907
12.7%
13,343
12.2%
45 - 54
15,368
14.1%
15,289
14.0%
13,985
12.8%
55 - 64
10,717
9.8%
10,874
10.0%
11,674
10.7%
65 - 74
6,137
5.6%
6,312
5.8%
7,744
7.1%
75 - 84
3,471
3.2%
3,476
3.2%
3,612
3.3%
1,190
1.1%
1,191
1.1%
1,296
85+
2010
Race and Ethnicity
2011
1.2%
2016
Number
Percent
Number
Percent
Number
Percent
White Alone
59,383
54.4%
59,242
54.2%
57,612
52.6%
Black Alone
36,062
33.1%
36,220
33.2%
36,532
33.4%
523
0.5%
522
0.5%
569
0.5%
4,277
3.9%
4,239
3.9%
4,335
4.0%
240
0.2%
237
0.2%
264
0.2%
Some Other Race Alone
3,327
3.1%
3,495
3.2%
4,258
3.9%
Two or More Races
5,266
4.8%
5,303
4.9%
5,927
5.4%
Hispanic Origin (Any Race)
9,834
9.0%
10,279
9.4%
12,848
11.7%
American Indian Alone
Asian Alone
Pacific Islander Alone
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
October 05, 2012
©2012 Esri
Page 5 of 6
Demographic and Income Profile
14858 Warwick
14858 Warwick Blvd, Newport News, VA, 23608, NN Enterpris...
Ring: 5 mile radius
Prepared by Janice Lewis, CCIM
Latitude: 37.136917597
Longitude: -76.54536997
Trends 2011-2016
Annual Rate (in percent)
3.5
3
2.5
2
1.5
1
Area
State
USA
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
$25K - $34K
11.6%
50
$15K - $24K
9.3%
$35K - $49K
17.6%
45
40
<$15K
9.2%
Percent
$200K+
1.8%
35
$150K - $199K
3.2%
30
25
20
15
$50K - $74K
22.5%
$100K - $149K
11.3%
10
5
$75K - $99K
13.6%
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2011 Percent Hispanic Origin: 9.4%
Source: U.S. Census Bureau, Census 2010 Data. Esri forecasts for 2011 and 2016.
October 05, 2012
©2012 Esri
Page 6 of 6
AGENCY DISCLOSURE
In a real estate transaction, when the Agent represents the:
Seller/Landlord:
then an Agent under a listing agreement with a seller acts as the agent for the seller. The
listing company and all of its broker/agents, and the selling company and all of its agents
as subagents of the seller, would owe their fiduciary duties to the seller. The broker and
broker's agents may still provide buyer/tenants, as customers, with information about
properties and available financing, may show them properties, and may assist them in
preparing an offer to purchase, option or lease a particular property.
Buyer/Tenant:
then an Agent under a contract with a buyer acts as the agent for that buyer only, as a
"Buyer/Broker/Agent," and the Agent is not the seller's agent, even if the Purchase
Contract provides that the Seller or the Listing Broker will pay the Agent for the services
rendered to the buyer/tenant. An Agent acting as the buyer's/tenant's agent must disclaim
sub agency if offered and must disclose the Buyer/Tenant Broker/Agent relationship when
dealing with the seller's/landlord's Agent or the Seller/Landlord. The Buyer/Tenant
Broker/Agent owes its fiduciary duties to the buyer/tenant.
Buyer and Seller (Acting as a Dual Agent):
then an Agent, either acting directly or through one or more of the brokerage firm's other
Agents, may be the Agent of both the buyer and the seller, but only if the scope of the
agency is limited by a written agreement and only with the express knowledge and written
consent of both the buyer and the seller. An Agent representing both the buyer and the
seller must disclose all information regarding the agency relationship, including the
limitation on the Agent's ability to represent either party folly and exclusively. The Agent
must not disclose to either party, without the prior consent of the party adversely affected
by the disclosure, any information obtained within the confidentiality and trust of the
fiduciary relationship. As an example, the Agent must not tell the buyer that the seller
will accept a price lower than the listing price, nor tell the seller that the buyer will pay a
price offered, without the prior consent of the party adversely affected by the disclosure.
Campana Waltz Commercial Real Estate, LLC is the
Listing Broker,
Dual Agent for the property submitted in this information package.
Buyer Broker,
Acknowledged by:
Campana Waltz Commercial Real Estate, LLC