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Office

State of Texas Health and Human Services Commission

28 Western Plaza Dr, Amarillo, TX 79109

Listing Price: $4,366,000

Cap Rate
6.07%
Gross SF
30,102
Rentable SF
30,102
Price/Gross SF
$145.04
Lot Size
3.12 acres
Year Built
2010

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership in 28 Western Plaza Drive, Amarillo, Texas. The subject property consists of 30,102 square feet fully occupied by the State of Texas Department of Health and Human Services Commission. This lease is guaranteed through the State of Texas and administrated through the Texas Facilities Commission and the state carries a AAA credit rating from S&P. The state took occupancy of the property when it was constructed in 2010 and most recently signed a new ten-year lease in 2021 showing their long-term commitment to this site. This is a modified gross lease with annual rent increases subject to the consumer price index, providing the owner a hedge on inflation, and it has five, five-year renewal options. The Health and Human Services Commission is responsible for managing the programs that assist families with food, health care, safety, and disaster services. This includes the Women, Infants and Children program (WIC), Children’s Medicaid, and Supplemental Nutritional Assistance programs (SNAP). Centrally located in Amarillo, the property benefits from excellent visibility along Western Plaza Drive which is just off Interstate 40. The area is surrounded by national retailers including Michaels, Burlington, Olive Garden, McDonald’s, IHOP and Waffle House. It is in close proximity to the Western Crossing Mall. Olsen Park Elementary School and Tascosa High School are both within a one-mile radius.

Investment Highlights

  • The State of Texas has "AAA" Stable S&P Credit Rating
  • The State of Texas "State Income Tax Free State"
  • 100 Percent Occupied | Long Term Lease

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Office

State of Texas Health and Human Services Commission

Listing Price: $4,366,000

Cap Rate
6.07%
Gross SF
30,102
Rentable SF
30,102
Price/Gross SF
$145.04
Lot Size
3.12 acres
Year Built
2010

Investment Highlights

  • The State of Texas has "AAA" Stable S&P Credit Rating
  • The State of Texas "State Income Tax Free State"
  • 100 Percent Occupied | Long Term Lease

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership in 28 Western Plaza Drive, Amarillo, Texas. The subject property consists of 30,102 square feet fully occupied by the State of Texas Department of Health and Human Services Commission. This lease is guaranteed through the State of Texas and administrated through the Texas Facilities Commission and the state carries a AAA credit rating from S&P. The state took occupancy of the property when it was constructed in 2010 and most recently signed a new ten-year lease in 2021 showing their long-term commitment to this site. This is a modified gross lease with annual rent increases subject to the consumer price index, providing the owner a hedge on inflation, and it has five, five-year renewal options. The Health and Human Services Commission is responsible for managing the programs that assist families with food, health care, safety, and disaster services. This includes the Women, Infants and Children program (WIC), Children’s Medicaid, and Supplemental Nutritional Assistance programs (SNAP). Centrally located in Amarillo, the property benefits from excellent visibility along Western Plaza Drive which is just off Interstate 40. The area is surrounded by national retailers including Michaels, Burlington, Olive Garden, McDonald’s, IHOP and Waffle House. It is in close proximity to the Western Crossing Mall. Olsen Park Elementary School and Tascosa High School are both within a one-mile radius.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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