State of Texas - Department of Family & Protective Services
Corpus Christi, TX | AAA Credit Tenant | 10 Year Lease
Marketing description
The Ficke Team of Colliers is pleased to present a rare, AAA-rated State of Texas investment offering long-term, non-cancellable income. The Texas Department of Family & Protective Services (DFPS) recently exercised a 10-year renewal at market rent and occupies the property under a full-service gross lease with a 7-year non-cancellable term and 3% annual escalations—delivering predictable, growing cash flow with zero credit risk.
The property serves as the headquarters for DFPS Region 11, supporting a 16-city network with mission-critical services. Purpose-built with specialized layouts and security features, combined with a central Corpus Christi location and high relocation costs, the asset offers strong tenant retention.
Built in 1995 and expanded in 2010, the 51,307 SF property sits on 4.27 acres and is undergoing tenant-driven improvements. With a long operating history and newly extended lease, 4201 Greenwood Drive represents a highly secure, state-leased investment.
Investment highlights
AAA Credit Tenant
Lease is backed by the State of Texas Department of Family & Protective Services, one of the few U.S. states with AAA credit ratings from all major agencies.
Fresh 10-Year Renewal Executed
DFPS recently exercised a 10-year renewal at a marked-to-market rental rate, confirming long-term commitment to this location.
7 Years Firm / Non-Cancellable
Full-Service Gross lease includes a firm term through March 31, 2032, providing durable income security.
Contractual Rent Growth
Lease features 3.0% annual rent escalations, creating visible NOI growth.
Mission-Critical Regional Headquarters
Facility serves as the DFPS Region 11 headquarters, supporting a 16-city regional network.
Specialized, Hard-to-Replace Buildout
Property includes numerous private offices, dedicated client service areas, family meeting rooms, observation rooms, and on-site security.
Meaningful Relocation Barriers
Estimated replacement cost of $275–$300/SF and lack of comparable alternative space in Corpus Christi materially reduce relocation risk.
Long Operating History at Site
DFPS has occupied this location for over 30 years, with the property built in 1995 and expanded/renovated in 2010.
Recently Improved Facility
Ownership has completed interior improvements including new carpet and paint, resulting in a refreshed facility.
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