U.S. FEDERAL GOVERNMENT CREDIT
Single-tenant facility leased to the U.S. Federal Government, guaranteed by the full faith and credit of the United States of America, providing exceptional income durability and credit quality

NEW 17-YEAR LEASE TERM
First-generation lease for a new 17-year term, with a rare 15-year firm, non-cancellable period, for the specific requirements and use of the Federal Bureau of Prisons (BOP) via the U.S. General Services Administration (GSA)

ESSENTIAL FEDERAL DETENTION CENTER WAREHOUSE
The BOP Federal Detention Center (FDC) Houston Warehouse is essential to BOP operations related to the Federal Detention Center in downtown Houston (opened in 1999, with space for 1,118 prisoners) which holds male and female inmates prior to and during federal court proceedings and inmates serving short sentences; BOP FDC Houston Warehouse serves the storage requirements for food service inventory, trust fund inventory, excess and future project items, emergency and natural disaster supplies, and secure space for BOP vehicle fleet during emergency situations

RELOCATION FACILITY FOR BOP
The new BOP FDC Houston Warehouse replaces a prior facility and significantly improves storage and logistics, including additional interior storage space and immediate proximity to the Federal Detention Center that is now less than 2 miles versus the prior distance of nearly 20 miles away

SPECIFIC BOP OPERATIONAL REQUIREMENTS
The BOP FDC Houston Warehouse meets specific requirements identified for BOP operations, including docks for 53 foot trailers, bay doors for BOP vehicle access, dock height of 11 feet wide and 50 inches tall, minimum bay width of 11 feet, minimum bay depth to accommodate a 90 foot vehicle without impeding traffic, a 192 foot minimum truck turning radius for semi-tractor trailer trucks, space for BOP freezers, minimum 21 foot ceiling heights for pallet racking system areas, and live load capacity of 333 pounds per square foot

INFILL HOUSTON INDUSTRIAL SUBMARKET / 6% VACANCY RATE
Houston BOP FDC Warehouse is situated within the Houston Southwest Inner Loop Submarket, which features an industrial vacancy rate of only 6% (CoStar) and provides exceptional access to downtown Houston with a driving distance of less than 2 miles; infill, high barrier to entry location with no new industrial space under construction or delivered within the past 12 months