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Government

Workforce Solutions

4680 FM 365, Port Arthur, TX 77642

Listing Price: $4,500,000

Cap Rate
2.76%
Tenant Name
Texas Workforce Solution
Years Remaining On Lease
9.3
Gross SF
12,093
Guarantor
State Agency
Rentable SF
12,093
Price/Gross SF
$372.12
Lease Type
Ground Lease
Rent Per Square Feet
$20.24

Investment Overview

The Port Arthur Office is a 12,000 square foot facility located on Highway 365 at Twin City Highway in Port Arthur, Texas. This location was a build-to-suit development for Workforce Solutions Southeast Texas in 2018 and is leased to the Southeast Texas Workforce Development Board. Workforce Solutions Southeast Texas executed the lease for this property in 2017 for a 10- year term, with two five year options, demonstrating their commitment to this location. Furthermore, this lease includes base rent increases every five years, providing NOI growth that is seldom seen in a government real estate investment. Workforce Solutions Southeast has a long-standing reputation as a tenant with one of the highest possible renewal probabilities in the commercial real estate industry. The Port Arthur Workforce Solutions Office benefits from a central location within the city.

Investment Highlights

  • Ten Year Lease with Seven Years Remaining In The Current Term
  • Two Five Year Renewal Options
  • Rent Bumps Every Five Years

Exclusively Listed By

Financing By

Listing Price: $4,500,000

Cap Rate
2.76%
Tenant Name
Texas Workforce Solution
Years Remaining On Lease
9.3
Gross SF
12,093
Guarantor
State Agency
Rentable SF
12,093
Price/Gross SF
$372.12
Lease Type
Ground Lease
Rent Per Square Feet
$20.24

Investment Highlights

  • Ten Year Lease with Seven Years Remaining In The Current Term
  • Two Five Year Renewal Options
  • Rent Bumps Every Five Years

Investment Overview

The Port Arthur Office is a 12,000 square foot facility located on Highway 365 at Twin City Highway in Port Arthur, Texas. This location was a build-to-suit development for Workforce Solutions Southeast Texas in 2018 and is leased to the Southeast Texas Workforce Development Board. Workforce Solutions Southeast Texas executed the lease for this property in 2017 for a 10- year term, with two five year options, demonstrating their commitment to this location. Furthermore, this lease includes base rent increases every five years, providing NOI growth that is seldom seen in a government real estate investment. Workforce Solutions Southeast has a long-standing reputation as a tenant with one of the highest possible renewal probabilities in the commercial real estate industry. The Port Arthur Workforce Solutions Office benefits from a central location within the city.

Exclusively Listed By

Financing By

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