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1504 E Mulberry St Angleton, TX 77515

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For Sale
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Portfolio of four Texas State leased buildings for sale.

Property size:
42,921 SF

Property Features for 1504 E Mulberry St

General Information

Standard status
Active
Size
42,921 SF

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Listing Contact
Brian Corriston
Brian Corriston
Source: Crexi

Listing Agency: Northmarq - Houston Listing Agent: Brian Corriston

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Four Texas State Leased Buildings

Offered for sale is a portfolio of four buildings leased to the State of Texas. These buildings may be purchased individually or in smaller groups. The State of Texas holds an investment-grade credit rating of AAA by Standard & Poor's and Aaa by Moody's. Three of the properties, located in Angleton, Bellville and Hempstead, are Houston suburbs, while the fourth in Sherman, is a Dallas suburb. The Department of Family and Protective Services (DFPS) is a tenant in Angleton, Bellville and Sherman. Health and Human Services (HHSC) is also a tenant at Angleton and Bellville, as well as Hempstead. The third tenant in the portfolio is the Department of State Health Services (DSHS), located at the Bellville property. Constructed as build-to-suits for each tenant, the buildings were completed in 2018, 2019 and 2020. The leases have approximately 3 to 5 years of remaining term, with a weighted average term just under 4 years for the portfolio. Each lease has options remaining and they all feature annual CPI increases equivalent to 50% of the CPI, the highest percentage allowed by the State of Texas. The four properties total 42,921 square feet and occupy a combined 7.6 acres. All four properties have been professionally maintained. The locations are suburbs of Dallas and Houston. Each of the locations has good visibility within its market and is nearby either the retail or office/medical corridor. They are all located nearby or adjacent to busy state highways as well. Each of these locations has a strong population base and household income. Within a 30-minute drive, the population ranges from 72,000 people (Bellville) to over 244,000 people (Hempstead). The average HH income averages from $68,000 (Bellville) to $142,000 (Hempstead).
Location Intelligence

Current Use by Public Records

Brazoria County Child ... Social Service Agency

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
Angleton
County
Brazoria
State
Texas
Longitude
-95.415099
Latitude
29.173305

FAQs

What type of property is this?
Office building - Portfolio of four Texas State leased buildings for sale.
Where is this office building located?
The property is located at 1504 E Mulberry St Angleton, TX.
What are key features of this property?
This property features: - Leased to the State of Texas with AAA (S&P) and Aaa (Moody's) investment-grade credit rating.; - Portfolio of four well-maintained buildings built-to-suit between 2018-2020.; - Leases feature annual CPI increases and remaining options.
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