State of Texas – Dept. of Criminal Justice

1616 Rothwell Street - Houston TX 77020

LTV (Loan to Value)	65.00%	Current NOI	$470,584.00
Interest Rate	4.250%	Capital Rate	7.000%
Fixed Term	10 Years	Land Area	1.34 Acre
Amortization	25 Years	Lease Type	NN
Loan Amount	$4,369,708.20	Property Type	Public/Government
Payment	$23,672.37	Property Lease	Government
Bulding Size	23,604 SF	Remaining Terms	9 Years

Location Description

NNN Lenders is pleased to offer for sale the fee simple interest in a single-tenant office building leased to the State of Texas (S&P: ‘AAA') with 9 years of remaining term. The property is located near downtown Houston, TX and serves as the central parole office for the Department of Criminal Justice (TDCJ). The building features two floors of office space consisting of 23,604 square feet on an approximate 1.335 acre site. The property was completely gutted and renovated in 2014 and features a new roof, new HVAC system and interior office build-out. Houston is the fifth-largest metropolitan area in the United States and led the nation in job and population growth in 2014.

Highlights

Best-in-Class Tenant - The property is 100% leased to the State of Texas which boasts a credit rating of AAA…

Property Description

As the fourth-largest city in the United States of America, Houston boasts a population of more than 2 million and a gross domestic product (GDP) of almost $500 billion. This culturally diverse and internationally significant metropolitan area includes more than 6 million people within its 630 square mile borders. Houston's economy accounts for over one third of the State of Texas's GDP and is larger than 43 other U.S. States' GDP, not to mention sovereign nations' (Austria's, Venezuela's or South Africa's, to name a few). Only 26 countries other than the United States have a gross domestic product exceeding Houston's regional gross area product. Rated as a global city (by Globalization and World Cities Study Group and Network and by global management consulting firm A.T. Kearney), Houston's economy has a broad industrial base in energy, manufacturing, aeronautics, and transportation. It is also leading in health care sectors and building oil field equipment; only New York City is home to more Fortune 500 headquarters.The Houston metropolitan area ranks first in Texas and third in the U.S. within the Category of “Best Places for Business and Careers” by Forbes magazine. Foreign governments have established 92 consular offices in metropolitan Houston, the third highest in the nation. Forty foreign governments maintain trade and commercial offices here and 23 active foreign chambers of commerce and trade associations. Twenty-five foreign banks representing 13 nations operate in Houston, providing financial assistance to the international community. Houston has received too many accolades to list on this page but here are a few: Kiplinger's Personal Finance Best Cities list which ranks cities on their local economy, employment opportunities, reasonable living costs and quality of life; Forbes ranked fourth for highest increase in the local technological innovation over the preceding 15 years; first for Forbes Best Cities for College Graduates; first on Forbes list of Best Cities to Buy a Home; and best city for shopping, according to Forbes. In 2013, Houston was identified as the #1 U.S. city for job creation by the U.S. Bureau of Statistics after it was not only the first major city to regain all the jobs lost in the preceding economic downturn, but after the crash, more than two jobs were added for every one lost.