AAA Texas DST
Amarillo, TX
| Asset Class: | Office |
| Leverage | 0% - All-Cash/Debt-free |
| Location | Amarillo, TX |
| Minimum Investment: | $100,000 |
| Current Distribution | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
In an income tax-free state, AAA Texas DST is a 29,747 sq ft office building that is leased to the Texas Department of Family Protective Services (DFPS). The DFPS in Amarillo services 26 surrounding counties, making it critical to the department’s ability to serve the Texas Panhandle.
The lease is guaranteed by The State of Texas, which is one of only 12 states to carry the highest possible rating across the three major credit rating agencies. The Property’s location makes it easily accessible to some of Amarillo’s busiest roads and highways.
MSA Details
Amarillo has recently experienced its most economic development in 30 years. Amazon, Asset Protection Unit, and Texas Tech University Vet School were named some major organizations contributing to the city and metropolitan area’s economic growth. Through the COVID-19 pandemic in Texas, the Amarillo Chamber of Commerce announced a new initiative to help local businesses rebound from the pandemic. Beyond the famed Route 66, Amarillo is conveniently connected to the region and country via rail, airports and highways. The central position and access to a multitude of transportation options make it ideally suited for distribution operations. National companies such as Ben E. Keith, Affiliated Foods, Inc., and AmeriCold have built successful operations in Amarillo. The locational benefits are enhanced by the Foreign Trade Zone status which helps local companies import/export more expediently and at a reduced expense.
Property Highlights
- 29,747 sq ft office building leased to the Texas Department of Family and Protective Services
- Lease is guaranteed by The State of Texas, which is one of only 12 states to carry the highest possible rating across the three major credit rating agencies (Moody’s: Aaa; S&P: AAA; Fitch AAA)
- The DFPS employs 250+ people here and uses this location to service 26 surrounding counties making it critical to the department’s ability to serve the Texas Panhandle
- The tenant recently executed a lease extension showing its commitment to staying in the location
- The lease features annual CPI adjusted increases potentially protecting against inflation
- Texas is one of the rare states with no state income, inheritance or estate taxes
- The Property has easy access to some of the busiest streets in Amarillo and national retailers are in the area with over 2,350,000 square feet of occupied retail space within a one-mile radius
Source: Preliminary Information
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
All DST properties shown are subject to availability. There can be no assurance that the DST properties shown will be available.
