TEXAS OFFICE OF THE ATTORNEY GENERAL

Price

Unstated

NOI

Unstated

Building Size

120,000 SQ FT

Tenant

State of Texas, Attorney General Child Support Division

Occupancy

100%

Property Type

Office

Year Built

1996

Lot Size

6.74 Acres

Status

Sold

Lease Term

10 Years

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Jake Trautvetter

Capital Markets

858 558 5624 | Email

AAA CREDIT TENANCY
100% leased to State of Texas, AAA credit rating from S&P

LONG-TERM LEASE
New 10-year lease with State of Texas

MISSION-CRITICAL FACILITY
Headquarters for Office of the Attorney General, Child Support Division

BUILD-TO-SUIT CONSTRUCTION
Facility was built-to-suit for State of Texas

COMMITTED TENANT
Tenant has demonstrated ongoing commitment to the facility with recent lease renewal

HIGHLY DESIREABLE MARKET LOCATION
Located in the highly desirable market of Austin, the 11th largest city in the United States

CLOSE PROXIMITY TO DOWNTOWN
Convenient location less than 5 miles from downtown Austin

The State of Texas Office of the Attorney General Child Support Division Headquarters is a single-tenant, 120,000 square foot office building located in Austin, Texas.

This facility was built-to-suit for the State of Texas, and benefits from a central, convenient location in Austin. As the headquarters location for the Office of Attorney General Child Support Division, this building is mission-critical to the tenant.

The State of Texas demonstrated its long-term, ongoing commitment to this facility via a new 10-year lease term which commenced in February 2017. The lease includes a 5.5-year firm term, which is extremely rare for any state-leased assets, which almost always include termination rights throughout the term. The State of Texas features the highest possible credit rating, graded AAA from Standard & Poor’s, Fitch, and Moody’s.

As part of the lease renewal process, significant capital improvements were made to the property, including replacement of all HVAC units over 5 years in age, and extensive upgrades to both the interior and exterior of the building, as well as a new state-of-the-art energy management system.

Located in the highly desirable market of Austin, the 11th largest city in the United States, the subject property is situated less than 5 miles from downtown, allowing for fast, easy access to the courthouse and the ability to house a large number of employees at an economical rental rate.