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THE FOUNTAINS AT BONITA CREEKLuxury Living in South Texas
Offering Memorandum
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NON-ENDORSEMENT & DISCLAIMER NOTICE
CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by
the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to
establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the
income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the
property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal
regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s
plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained
from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained
herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever
regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this
marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or
endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of
Marcus & Millichap, and is solely included for the purpose of providing tenant lessee
information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
TO SCHEDULE A SHOWING, PLEASE CONTACT:
KENT MYERS - (512) 338-7853 OR [email protected]
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THE FOUNTAINS AT BONITA CREEK1 2 7 0 W . O A K L A W N R D • P L E A S A N T O N , T X • 7 8 0 6 4
EXCLUSIVELY LISTED BY
O F F I C E S N AT I O N W I D E A N D T H R O U G H O U T C A N A D A
WWW.MARCUSMILLICHAP.COM
Kent MyersFirst V ice President Investments
Myers Mult i family of Marcus & Mil l ichapAustin, TX
Direct 512.338.7853kent.myers@marcusmil l ichap.com
License: TX 0561047
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29EXECUTIVE SUMMARYInvestment Overview • Investment Highlights
Summary of Terms
MARKET OVERVIEWLocation Overview • Location Highlights • City Overview
Demographic HighlightsPROPERTY DESCRIPTIONProperty Details • Amenities
RENT COMPARABLESRent Comparables Summary • Rent Comparables Details
TABLE OF CONTENTS
PRESENTED BY
THE FOUNTAINS AT BONITA CREEK
23 FINANCIAL ANALYSISRent Roll • Operating Data • Operating Statement
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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EXECUTIVE SUMMARYTHE FOUNTAINS AT BONITA CREEK
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INVESTMENT OVERVIEW
The Fountains at Bonita Creek is an 84-unit, luxury garden-style apartment community located in the city of Pleasanton, Texas. Built in
2017, the property consists of three-story apartment buildings constructed of wood frame and stucco with masonry accents and pitched roofs.
The Fountains at Bonita Creek offers a mix of three spacious floor plans consisting of one-bedroom/one-bathroom units measuring 775 square
feet each, two bedroom/two-bathroom units measuring 1,135 square feet each, and three-bedroom/three-bathroom units measuring 1,326
square feet each, with a community average unit size of 1,059 square feet.
The Fountains at Bonita Creek is gated, well-maintained, and landscaped with mature trees, trimmed bushes, and a grassy courtyard
area. The property’s numerous community amenities include: a resident entertainment room with fully equipped kitchen, billiard table, and
flat-screen TVs; a business center with high-speed internet, fax, and copier; an internet café with coffee bar; a state-of-the-art fitness center;
a resort-style swimming pool; a poolside cabana area with wireless internet; an outdoor kitchen with gas grill; and covered parking spaces.
Corporate units are also available.
The well-appointed, energy-efficient apartment homes feature spacious rooms with nine-foot ceilings,
granite countertops, brushed-nickel hardware, garden-style bathtub, ceiling fans, computer niche, oversized
walk-in closets, and private patios/balconies with French doors and outside storage. The gourmet kitchens
are fully-equipped with designer stainless-steel appliances and pantry space. Select units offer ceramic tile
flooring, an island in the kitchen area, crown molding accents, and full-size washer/dryer.
The Fountains at Bonita Creek is located in the city of Pleasanton, part of the San Antonio – New
Braunfels Metropolitan Statistical Area in south Texas. Pleasanton is conveniently located thirty miles south
of San Antonio with Corpus Christi 110 miles southeast and Austin 110 miles northeast. Thanks to a low cost
of living and a high quality of life, Pleasanton’s economy is thriving, and its population is expanding. The
Fountains at Bonita Creek is a quiet, suburban property closely surrounded by employment opportunities,
a strong retail presence, and recreational activities. Within just a couple miles, residents can find an H-E-B,
Walmart, the Atascosa River Park, and much more. A best-in-class asset, this unique offering provides inves-
tors long term stability with upside potential and long-term value appreciation.
>16% PROJECTED GROWTH IN THE AREA BETWEEN 2018-2022
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► Class A New Construction
► Luxury Community Amenities
► Shopping and Restaurants Close By
► Dynamic Greater San Antonio Market
► Low Cost of Living
► Rapidly Expanding Population
INVESTMENT HIGHLIGHTS
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SUMMARY OF TERMS
INTEREST OFFEREDMarcus & Millichap has been selected to exclusively market for sale The Fountains at Bonita Creek, a luxury apartment complex
located in Pleasanton, Texas.
TERMS OF SALEThe Fountains at Bonita Creek is offered on an Open Bid basis free and clear of existing debt. The net operating income figures
for the property assume a fiscal year starting 2018. Historical operating documentation, third party reports and Financial model
can be found in the online document data portal.
PROPERTY TOURSProspective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be
arranged with Kent Myers. Please do not contact the tenants, on-site management or staff without prior approval. At no time shall
the tenants, on-site management or staff be contacted without prior approval.
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CLASS A CONSTRUCTION WITH FIRST-CLASS FINISHES
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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PROPERTY DESCRIPTION
THE FOUNTAINS AT BONITA CREEK
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INVESTMENT OVERVIEW Year Built 2017
Number of Units 84
Total Square Feet 88,992
Average Unit Size 1,059 SF
Site Size 7.18 Acres
Density 11.70 Units/ Acre
PARKING
Number of Spaces 255 Open Surface Covered Parking Available for $25Parking Ratio 1.5 Spaces/ Unit
PERSONNEL
Manager Third Party
LEASING FEES
Application Fee $50
No Administration Fee
Security Deposit $300-500
Pet Fees $300 Deposit ($150 Non-Refundable) $10 Monthly Rent Pet Policy Weight and Breed Restrictions Apply
SCHOOL INFORMATION
Pleasanton ISD 3,549 Students
Pleasanton Primary School
Pleasanton Elementary School
Pleasanton Junior High School
Pleasanton High School
UTILITIES Water/Sewer Submetered, Billed Back to Residents
Electric Resident Responsible
Phone/Cable/Internet Resident Responsible
CONSTRUCTION Style Wood Frame & Stucco With Masonry Accents
Roofing Pitched
Number of Buildings 4
Number of Stories 3
TAX INFORMATION Tax Valuation $6,500,000
Tax Rate 2.600309%
PROPERTY DETAILSTHE FOUNTAINS AT BONITA CREEK • 1270 W. OAKLAWN RD • PLEASANTON, TX • 78064
LAUNDRY
Full-Size Washer/ Dryer Connections in All Units
Can Rent Washer/ Dryers For $55/month
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The Fountains at Bonita Creek
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UNIT AMENITIES
► Designer Stainless Steel Appliances
► Granite Counter Tops
► Kitchen Pantries
► Ceiling Fans
► Oversized Walk-In Closets
► Garden-Style Bath Tubs
► Private Patios/Balconies with French Doors
► Energy Efficient Design
► Fantastic Country Views
COMMUNITY AMENITIES
► Fully Gated Community
► Resort-Style Swimming Pool & Poolside Cabana
► Outdoor Kitchen with Gas Grill
► Entertainment Room with Fully Equipped Kitchen,
Billiards Table, and Multiple Flat-Screen Televisions
► Internet Café with Coffee Bar
► Business Center with High-Speed Internet, Fax, and Copier
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The Fountains at Bonita Creek
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A LIFESTYLE OF COMFORT AND CONVENIENCE
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MARKET DRIVERS
► ENERGY AND PETROCHEMICAL SECTOR: The Eagle Ford Shale Play and other gas and oil
deposits attract major energy and petrochemical companies to the area.
► SAN ANTONIO MSA: The metro’s diversified economy benefits Pleasanton in many ways.
AREA AMENITIES
► STRATEGIC LOCATION: Pleasanton residents are only thirty minutes from San Antonio’s lively
downtown and all the attractions the big city has to offer.
► BEAUTY: The area is known for its big, beautiful live oak trees.
► HISTORY/CULTURE: Coining itself as the “Birthplace of the Cowboy”, Pleasanton is full of
historical markers reminiscent of the bountiful cattle town it once was.
► Tourism- Over 20 million tourists visit San Antonio and its attractions annually, contrib-
uting substantially to the city’s economy with tourism employing an estimated 94,000
people with an economic impact of over $10.7 billion in the local economy.
► Military- Known as “Military City USA”, San Antonio is home to one of the largest military
concentrations in the nation with an overall employment of 89,000 people within the
three military installations comprising Joint Base San Antonio (JBSA) – Fort Sam Hous-
ton, Lackland Air Force Base, and Randolph Air Force Base.
► Business- The city is home to six Fortune 500 companies- Valero Energy Corp, Tesoro
Corp, USAA, iHeartMedia, Nustar Energy, and CST Brands- as well as the headquarters
for H-E-B, the 14th-largest private company in the United States.
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JUST 30 MINUTES FROM LIVELY DOWNTOWN SAN ANTONIO
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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FINANCIAL ANALYSIS
THE FOUNTAINS AT BONITA CREEK
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RENT ROLL SUMMARY
UNIT TYPE# OF
UNITSAVG SQ
FEETAVG RENT
AVG RENT/ SQ FT
MONTHLYINCOME
1 Bd / 1 Ba 24 775 $949 $1.22 $22,776
2 Bd / 2 Ba 48 1,135 $1,229 $1.08 $58,992
3 Bd / 2 Ba 12 1,326 $1,475 $1.11 $17,700
Totals/Weighted Averages 84 1,059 $1,184 $1.12 $99,468
Gross Annualized Rents $1,193,616
Unit Distribution Unit Rent
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OPERATING DATAINCOME CURRENT YEAR 1
Gross Scheduled Rent $1,193,616 $1,212,480
Less: Vacancy/Deductions 7.0% $83,157 8.1% $98,190
Total Effective Rental Income $1,110,459 $1,114,290
Other Income $145,482 $145,482
Effective Gross Income $1,255,941 $1,259,772
Less: Expenses 34.3% $430,521 38.6% $486,226
Net Operating Income $825,420 $773,546
Cash Flow $825,420 $773,546
Debt Service $483,139 $483,139
Net Cash Flow After Debt Service 13.69% $342,281 11.62% $290,406
Principal Reduction $110,652 $116,314
Total Return 18.12% $452,933 16.27% $406,720
EXPENSES CURRENT YEAR 1
Real Estate Taxes $169,020 $169,020
Insurance $35,214 $25,000
Utilities - Electric $31,799 $31,799
Utilities - Water & Sewer $20,987 $20,987
Repairs & Maintenance $12,456 $37,800
Landscaping $1,350 $1,350
Marketing & Advertising $1,373 $1,373
Payroll & Payroll Taxes $72,810 $72,810
Alarm Monitoring/Inspection $6,506 $6,506
General & Administrative $13,167 $13,167
Misc. Expenses $2,317 $2,317
Operating Reserves $21,000 $21,000
Management Fee $42,522 $44,092
Total Expenses $430,521 $486,226
Expenses/Unit $5,125 $5,788
Expenses/SF $4.84 $5.46
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OPERATING STATEMENT
INCOME CURRENT YEAR 1 NOTES PER UNIT PER SF
Gross Potential Rent 1,193,616 1,193,616 14,210 13.41
Loss/ Gain to Lease 18,864 1.6% [1] 225 0.21
Gross Scheduled Rent 1,193,616 1,212,480 14,434 13.62
Physical Vacancy (45,591) 4.7% (60,624) 5.0% [2] (722) (0.68)
Economic Vacancy
Concession (37,566) 3.1% (37,566) 3.1% (447) (0.42)
Total Vacancy ($83,157) 7.0% ($98,190) 8.1% ($1,169) ($1)
Economic Occupancy 93.03% 91.90%
Effective Rental Income 1,110,459 1,114,290 13,265 12.52
Other Income
Utility Bill-Back 38,434 38,434 458 0.43
All Other Income 107,048 107,048 1,274 1.20
Total Other Income $145,482 $145,482 $1,732 $1.63
Effective Gross Income $1,255,941 $1,259,772 $14,997 $14.16
NOTES ► [1] Gain to lease is based on the July 31 rent roll annualized.
► [2] Year one vacancy is 5.0% for market underwriting standards.
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EXPENSES CURRENT YEAR 1 NOTES PER UNIT PER SF
Real Estate Taxes 169,020 169,020 [3] 2,476 2.34
Insurance 35,214 25,000 [4] 298 0.28
Utilities - Electric 31,799 31,799 379 0.36
Utilities - Water & Sewer 20,987 20,987 [5] 250 0.24
Repairs & Maintenance 12,456 37,800 [6] 450 0.42
Landscaping 1,350 1,350 16 0.02
Marketing & Advertising 1,373 1,373 16 0.02
Payroll & Payroll Taxes 72,810 72,810 867 0.82
Alarm Monitoring/Inspection 6,506 6,506 77 0.07
General & Administrative 13,167 13,167 157 0.15
Misc. Expenses 2,317 2,317 [7] 28 0.03
Operating Reserves 21,000 21,000 [8] 250 0.24
Management Fee 42,522 3.5% 44,092 3.5% 525 0.50
Total Expenses $430,521 $486,226 $5,788 $5.46
Expenses as % of EGI 34.3% 38.6%
Net Operating Income $825,420 $773,546 $9,209 $8.69
► [3] Proforma tax value is based on 80% of the proposed sale value by the Atasocsta county mil rate of 2.600309.
► [4] Insurance is a quote from a broker. Current value includes builders liability.
► [5] Water is net of tenant reimbursement.
► [6] $450 per unit per annum is used to represent a stabilzed operation.
► [7] Includes postage, dues and subscriptions, background checks, & advertising and promotion.
► [8] $250 per unit per annum is assumed for agency execution.
OPERATING STATEMENT
NOTES
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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RENT COMPARABLES
THE FOUNTAINS AT BONITA CREEK
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PROPERTY NAMEDISTANCE
FROM SUBJECT
YEAR BUILT
AVG SFAVG
RENTAVG RENT
PER SFOCCUPANCY
The Fountains at Bonita Creek1270 W. Oaklawn Rd, Pleasanton, TX, 78064
2017 1,059 $1,184 $1.12 100%
*Chaparral Place Corporate Apts1121 W. Oaklawn Rd, Pleasanton, TX, 78064
.4 mi 2013 869 $1,338 $1.55 93%
The Haven701 Oakhaven Rd, Pleasanton, TX, 78064
.8 mi 1983 875 $867 $1.00 **70%
Eagle View830 Stadium Dr, Pleasanton, TX, 78064
1.4 mi 1970 756 $750 $1.00 100%
*Eagle Heights375 Airport Rd, Pleasanton, TX, 78064
2.4 mi 2016 918 $1,376 $1.51 93%
Averages 895 $1,103 $1.24
RENT COMPARABLES – SUMMARY
* Corporate-Leased Apartments**Complex Under Renovation
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EAGLE HEIGHTS
CHAPARRAL PLACE CORPORATE APTS
THE HAVENThe Fountains at Bonita Creek
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EAGLE VIEW
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CHAPARRAL PLACE1121 W. Oaklawn Rd, Pleasanton, TX, 78064
THE FOUNTAINS AT BONITA CREEK270 W. Oaklawn Rd, Pleasanton, TX, 78064
1
RENT COMPARABLES
84 TOTAL UNITS
2017 YEAR BUILT
WTD. AVG 1,059 $1,184 $1.12 WTD. AVG 869 $1,338 $1.55
UNIT TYPE SQFT RENT RENT/SF
1x1 775 $949 $1.22
2x2 1,135 $1,229 $1.08
3x2 1,326 $1,475 $1.11
UNIT TYPE SQFT RENT RENT/SF
1x1 742 $1,125 $1.52
2x2 995 $1,550 $1.58
60 TOTAL UNITS
2013 YEAR BUILT
*All Units Fully Furnished & All Bills Included
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EAGLE VIEW830 Stadium DrPleasanton, TX, 78064
THE HAVEN701 Oakhaven RdPleasanton, TX, 78064
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56 TOTAL UNITS
1983 YEAR BUILT
WTD. AVG 875 $867 $1.00
UNIT TYPE SQFT RENT RENT/SF
1x1 675 $750 $1.11
2x1 875 $850 $0.97
3x1 1,075 $1,000 $0.93
EAGLE HEIGHTS375 Airport RdPleasanton, TX, 78064
4
UNIT TYPE SQFT RENT RENT/SF
1x1 675 $700 $1.04
2x1 837 $800 $0.96
UNIT TYPE SQFT RENT RENT/SF
1x1 773 $1,240 $1.60
1x1 881 $1,320 $1.50
1x1 892 $1,350 $1.51
2x2 1,124 $1,600 $1.42
WTD. AVG 756 $750 $1.00
40 TOTAL UNITS
1970 YEAR BUILT
88 TOTAL UNITS
2016 YEAR BUILT
*All Bills Included
WTD. AVG 918 $1,376 $1.51
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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35
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LOCATION OVERVIEW
Famous for their “Live Oaks and Friendly Folks”, Pleasanton, Texas is one of the most beautiful
small towns in south Texas. Pleasanton is situated at the juncture of the Atascosa River and Bonita Creek
in Atascosa County. The city is conveniently located on Oaklawn Road (Texas Highway 97), one of the
primary arterials in Pleasanton and enjoys easy access to major thoroughfares including US-281 and In-
terstate 37, which connect residents to the numerous dining options, shopping destinations, employment
centers, and entertainment venues in Pleasanton as well as San Antonio, just 30 miles to the north.
Pleasanton is a great place to work, live and play where metropolitan amenities blend with small
town hospitality and values. One can dive into the rich history of the old cowboy town at the Longhorn
Museum or the city’s impressive public library. Enjoying a comfortable annual temperature of 70 degrees,
residents of Pleasanton love to enjoy the outdoors at the beautiful Atascosa River Park. The town comes
alive every year with several parades and events, including a chili cook-off, fiddler’s contest, carnival, and
most notably, the Cowboy Homecoming Parade. Residents of Pleasanton can also easily enjoy the number
of attractions San Antonio has to offer such as the San Antonio Zoo, Tower of the Americas, or the Alamo.
Energy-sector activities play a significant part in driving Pleasanton’s economy. The area sits atop the Eagle Ford
Shale and is almost entirely in the liquids-rich or oil window in the southern and eastern portions of the Atascosa County.
The mining/quarrying/oil/gas extraction industries employ twenty-eight times more than people than what would be expect-
ed in a location this size.
Pleasanton is a city in the San Antonio – New Braunfels Metropolitan Statistical Area that covers an eight-county
region with nearly 2.4 million residents, making it the third-largest metro in Texas and the 25th-largest in the nation. It is also
the second-fastest growing major metropolitan area in the state after Austin. San Antonio has a diversified economy with
a metropolitan Gross Domestic Product of approximately $96.8 billion and its economy is focused primarily within military,
health care, government civil service, financial services, oil and gas, and tourism sectors.
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► Conveniently Located 30 Miles South of San Antonio
► Highly Visible Location with Proximity to Interstate 37 & US-281
► Small Town Hospitality with Metropolitan Benefits
► Business-Friendly
► Abundance of Recreational Activities
► Sits Atop the Eagle Ford Shale
LOCATION HIGHLIGHTS
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LOCAL ATTRACTIONS
► H-E-B 1 Mile from site
► Chili’s Grill & Bar 1.4 Miles from site
► Walmart 1.3 Miles from site
► Atascosa River Park 1.3 Miles from site
► Plestex Theatre 1.5 Miles from site
► Pleasanton ISD Schools 1.3 Miles from site
► Coastal Bend College 2.1 Miles from site
► Methodist Hospital South 2 Miles from site
► Longhorn Museum 2.9 Miles from site
RETAIL & RESTAURANTS
PARKS & RECREATION
SCHOOLS & HOSPITALS
LANDMARKS
Methodist Hospital South
Walmart
Chili’s Grill & Bar
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Chili’s Grill & Bar
Pleasanton ISD Schools
H-E-B
Coastal Bend College
Longhorn Museum
Atascosa River Park
Plestex Theatre
The Fountains at Bonita Creek
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SAN ANTONIO OVERVIEW
The San Antonio metro is located in the southern portion of central Texas,
covering 412 square miles and straddling the Interstate 35 Corridor, one of
the fastest-growing areas in the state. The metro encompasses eight counties:
Bandera, Atascosa, Kendall, Comal, Bexar, Guadalupe, Medina and Wilson.
Situated only 145 miles from Nuevo Laredo, Mexico, San Antonio is an easy
drive on Interstate 35 from the border and serves as a major gateway between
the United States and Mexico. The area is further enhanced by an extensive
transportation network that provides shipping options to domestic and inter-
national markets as well as the Eagle Ford Shale formation that runs through
Atascosa and Wilson counties. San Antonio is the most populous city in the
metro, housing more than 1.4 million residents.
STRONG POPULATION GROWTHThe metro is maintaining population growth and household formation well above the national level and generating the need for housing options.
ROBUST JOB CREATIONMore than 47,000 jobs are expected to be created though 2022. Many positions will be related to Eagle Ford, one of the largest oil and gas developments in the world.
METRO HIGHLIGHTS
LOW COST OF LIVINGMore affordable home prices compared with other nearby markets and no state personal income tax contribute to a lower the cost of living.
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► The economy is anchored by the industries of healthcare, tourism and national defense.
► The Eagle Ford Shale deposit has contributed to the diversification of jobs into the energy
sector. Valero’s corporate headquarters are here, as well as NuStar Energy, Halliburton, NOV,
Baker-Hughes and Tesoro.
► Lackland Air Force Base, Randolph Air Force Base, Fort Sam Houston and Camp Bullis are
among the many military installations located in the metro.
► An important component of the healthcare industry is South Texas Medical Center, a
conglomerate of hospitals, clinics and research and higher-education facilities.
ECONOMY
MAJOR AREA EMPLOYERS
South Texas Medical Center
USAA
Wells Fargo
Baptist Health System
Southwest Research Institute
Methodist Healthcare System
JPMorgan Chase
Christus Santa Rosa Health System
Toyota Motor Manufacturing Texas
H-E-B
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► The metro is expected to add nearly 177,500 people through 2022, resulting
in the formation of roughly 88,400 households.
► A relatively youthful population contributes to a homeownership rate of 63
percent, which compares with the national rate of 64 percent.
► Roughly 26 percent of residents age 25 and older hold a bachelor’s degree; of
those residents, 9 percent also have earned a graduate or professional degree.
DEMOGRAPHICS
QUALITY OF LIFECulture and history abounds in such places as La Villita, the Spanish Governor’s Palace, San
Fernando Cathedral, Jose Antonio Navarro State Historical Park and the Alamo. Tradition
blends with more modern attractions, such as the River Walk, a 2.5-mile stretch of parks,
cafes, nightclubs and hotels. New upscale apartments are being built along the walk, bringing
more residents into the city. The metro is also home to numerous sporting events and teams,
including the NBA’s San Antonio Spurs, the AHL’s Rampage and AA baseball’s Missions.
Arena football is offered by the San Antonio Talons, and the University of Texas San Antonio
Roadrunners play NCAA Division 1 football. Art enthusiasts can visit many museums and cul-
tural centers in San Antonio.
SPORTS
EDUCATION
ENTERTAINMENT
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SAN ANTONIO METRO AREA
2Q17 – 12 MONTH PERIOD
EMPLOYMENT
increase in total em-ployment Y-O-Y
► Approximately 19,700 positions
were created over the past 12
months, led by 4,300 jobs generat-
ed in the construction sector and
an additional 3,700 workers in
trade, transportation and utilities.
► Unemployment in the metro
declined 50 basis points to 3.4
percent during the first quarter of
2018, remaining below the nation-
al rate by 70 basis points.
CONSTRUCTION
units completed Y-O-Y
► Of the 1,600 apartments complet-
ed during the first quarter of 2018,
approximately 770 were brought
online in the area near Interstate
10 and Loop 1604.
► Nearly 8,300 units were underway
at the end of March, and though
deliveries will remain concentrated
in Far Northwest and West San
Antonio this year, construction is
rising in Southwest and Central
San Antonio.
VACANCY
basis point increase in vacancy Y-O-Y
► Apartment vacancy has been on
the rise for the past two years,
reaching 7.6 percent in the first
quarter of 2018. One year ago,
the rate increased 50 basis points.
► Vacancy is highest in Class C
properties, resting at 7.7 percent
in March. The rate rose nearly
200 basis points over the past
two years, for the largest advance
among property classes.
RENTS
increase in effective rents Y-O-Y
► Rent growth remained steady over
the past year, with the average
effective rent rising to $936 per
month in the first quarter of 2018.
► Class C rent growth during the
past 12 months was the strongest
among property classes, with the
average rate rising 8.1 percent
year over year to $789 per month.
1.9% 7,400 70 2.9%
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DEMOGRAPHICS HIGHLIGHTS
10,120
$59,646 $134,700
POPULATION
MEDIAN HOUSEHOLD INCOME MEDIAN PROPERTY VALUE
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POPULATION 1 MILE 3 MILES 5 MILES
2022 ProjectionTotal Population
2,957 11,388 16,778
2017 EstimateTotal Population
2,902 11,048 16,191
2010 CensusTotal Population
2,701 10,312 15,193
2000 CensusTotal Population
2,233 9,346 13,766
Daytime PopulationsTotal Population
2,893 10,422 14,335
HOUSEHOLDS 1 MILE 3 MILES 5 MILES
2022 ProjectionTotal Households
1,118 4,223 6,188
2017 EstimateTotal Households Average (Mean) Household Size
1,056
2.61
3,980
2.69
5,793
2.72
2010 CensusTotal Households
982 3,734 5,473
2000 CensusTotal Households
836 3,322 4,775
Growth 2015 - 2020 5.87% 6.11% 6.82%
HOUSING UNITS 1 MILE 3 MILES 5 MILES
Occupied Units
2021 Projection 1,118 4,223 6,188
2016 Estimate 1,077 4,134 6,080
Owner Occupied 669 2,650 3,998
Renter Occupied 388 1,330 1,795
Vacant 21 154 287
Persons In Units
2016 Estimate Total
Occupied Units1,056 3,980 5,793
1 Person Units 28.41% 25.25% 24.84%
2 Person Units 29.45% 31.36% 30.97%
3 Person Units 16.19% 16.16% 16.64%
4 Person Units 14.39% 14.07% 13.78%
5 Person Units 6.53% 7.69% 7.89%
6+ Person Units 5.02% 5.45% 5.87%
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES
2017 Estimate
$200,000 or More 4.62% 4.52% 4.83%
$150,000 - $199,000 5.44% 3.31% 2.98%
$100,000 - $149,000 15.44% 13.26% 12.73%
$75,000 - $99,999 11.13% 10.83% 10.35%
$50,000 - $74,999 24.50% 24.73% 25.48%
$35,000 - $49,999 12.54% 11.36% 12.20%
$25,000 - $34,999 9.65% 8.30% 8.43%
$15,000 - $24,999 9.11% 9.82% 9.66%
Under $15,000 7.58% 13.87% 13.33%
Average Household Income $84,429 $77,996 $78,851
Median Household Income $59,337 $55,881 $55,600
Per Capita Income $31,451 $28,332 $28,412
HOUSEHOLDS BY INCOME 1 MILE 3 MILES 5 MILES
Population By Age
2017 Estimate Total Population 2,902 11,048 16,191
Under 20 28.07% 28.91% 28.77%
20 to 34 Years 19.52% 19.10% 19.17%
35 to 39 Years 5.76% 6.29% 6.36%
40 to 49 Years 11.40% 11.55% 11.79%
50 to 64 Years 15.93% 17.75% 17.78%
Age 65+ 19.31% 16.39% 16.11%
Median Age 37.06 36.57 36.59
Population 25+ by Education Level
2017 Estimate Population Age 25+ 1,909 7,183 10,568
Elementary (0-8) 4.69% 6.89% 7.08%
Some High School (9-11) 9.57% 9.08% 8.80%
High School Graduate (12) 34.75% 35.01% 37.37%
Some College (13-15) 23.37% 22.32% 22.33%
Associate Degree Only 6.12% 5.94% 6.14%
Bachelors Degree Only 12.86% 11.53% 10.24%
Graduate Degree 7.38% 6.74% 5.83%
Population by Gender
2017 Estimate Total Population 2,902 11,048 16,191
Male Population 47.47% 47.91% 48.11%
Female Population 52.53% 52.09% 51.89%
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E X C L U S I V E LY L I S T E D B Y
THE FOUNTAINS AT BONITA CREEK
Kent MyersFirst V ice President InvestmentsMyers Mult i family of Marcus & Mil l ichapAustin, TXDirect 512.338.7853kent.myers@marcusmil l ichap.comLicense: TX 0561047