STATE OF TEXAS – AAA CREDIT
100% leased to the State of Texas, featuring the highest available credit rating of AAA from Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings

NEW 10-YEAR LEASE WITH 2.5% ANNUAL RENT INCREASES
State of Texas lease renewal in 2024 for a new 10-year term commencing in November 2025; lease structure features 2.5% annual base rent increases and tenant responsibility for utilities and janitorial services

BUILD-TO-SUIT WITH HIGH BUILDING UTILIZATION
Build-to-suit facility for State of Texas completed in 1995 for occupancy by the Disability Determination Services (DDS) division of the Texas Health & Human Services Commission; currently 691 employees of the State of Texas work from this facility, with employee growth expected to reach a total of 800 in this location

LEASE RENEWAL WITH EXPANDED SQUARE FOOTAGE
2024 lease renewal by State of Texas expanded DDS space by 15,258 square feet to occupy the total building footprint of 199,258 square feet, including DDS occupancy of a 3,075 square foot portion that was previously shared with another State of Texas agency; renewal includes a special improvement project with lighting and HVAC upgrades

ESSENTIAL SOCIAL SECURITY SERVICES
The subject property houses disability specialists, finance professionals, IT support, medical reviewers, and administrators for Disability Determination Services, all of which oversee the process related to disability claims and associated benefits available under the regulations of Social Security; the DDS division is part of the Texas Health & Human Services Commission, which is the second-largest function of Texas state government ($46.3 Billion in Fiscal Year 2025 appropriations) 

FEDERAL-FUNDED PROGRAM
U.S. Social Security Administration reimburses Texas Disability Determination Services for 100% of allowable expenditures, including direct and indirect costs

CENTRAL LOCATION IN AUSTIN, TX / STATE CAPITAL
Situated in a prime location in Austin, Texas, the subject property benefits from an exceptional, central position approximately five miles south of downtown and five miles west of the Austin International Airport, and features excellent freeway access with immediate proximity to Interstate 35 and Highway 71; Austin is the State Capital of Texas and the 26^th largest metropolitan area within the United States, with a population of nearly 2.5 million in the MSA