Texas Department of Criminal Justice
State of TX Lease • AAA Credit | Low Price Point | Over $81.7K in Recent Improvements
Marketing description
Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the leased fee interest in the building of the single-tenant State of Texas office facility located in Horizon City (El Paso), Texas (the "Property"). The Property is leased to the State of Texas operating as the Department of Criminal Justice ("TDCJ"). The State of Texas carries an investment-grade credit rating of AAA by Standard & Poor's and Aaa by Moody's.
Investment highlights
State of Texas Lease - The State of Texas carries an investment-grade credit rating of AAA by Standard & Poor's and Aaa by Moody's.
Larger Building | Early Extension - Only 5 years into the initial term, the TDCJ had the Landlord expand their building by almost 50%.
Recent Renovations - Over the past few years, the Landlord has invested more than $81,700 in repairs for the Tenant.
Long-Term Tenant - The State of Texas - TDCJ recently exercised a 5-year extension. The TDCJ has been at this location for over 15 years, since 2009.
Excellent Visibility - Horizon Blvd is the major East-West thoroughfare with over 23,423 cars per day.
El Paso - El Paso is located about 30 minutes northwest of the TDCJ
Demographics - Within 10 miles of this location, there are over 188,485 people with an average HH Income of $88,699.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
