Posted in General on September 13, 2018

HAVE: For Sale: State Leased Investment Property – Lufkin

FOR SALE: Reduced Price! – State of Texas Leased Investment Property 28,000SF – Lufkin, Texas 

The area is primarily newer commercial development
Annual rent increases through portion of CPI increases to offset expense increases
Low maintenance, concrete parking lot
Building can be expanded to accommodate future tenant growth
This was a build to suit and lease in 2002. New 5 year lease renewal through 9/30/2022. The lease states that is may be renewed up to 5 times for periods up to 60 months each for a total of 300 months. Originally through 2012, it has been renewed once for a 10 year period.
All tenants are stable with a strong history and all of the leases are guaranteed by the State of Texas, with an AAA credit rating.
Annual rent increases are available based on the Consumer Price Index changes, with no early termination clauses.
Texas Health and Human Services Commission (HHSC), oversees several state departments such as:
Texas Department of Aging and Disability Services, Texas Dept. of State Health Services and Texas Dept. of Family and Protective Services, along with itself.
HHSC provides many benefits and services throughout Texas including: Medicaid, Children’s Health Insurance Program, Texas Women’s Health Program, temporary assistance for needy families, SNAP food benefits and nutritional programs, family violence services, refugee services, and disaster assistance.
This is an excellent opportunity for potential investors looking for great cash flow, and the ability to create equity through mortgage reduction from tenant paid rents. This type of asset is appealing to banks and financial institutions, and debt quotes are available.
Located on 58 / S. Chestnut Street
Please see website for Offering Memorandum

 


Wes Hallmark, CCIM, SIOR       
Senior Investment Advisor
SVN / Hallmark & Associates
Commercial Real Estate Advisors
806-797-2190 ext. 202  Office
806-797-4160 FAX

 

NTCAR1 NTCAR2