Office•Medical•For Sale

State of Texas Leased Office Lufkin Tx

1210 South Chestnut Street, Lufkin, Texas 75901

Sale Price $2,800,000
Sale Type Investment
Bldg Type Multi-Tenant
Class B
Status Existing
Year Built 2002
Stories 2
The area is primarily newer commercial development Annual rent increases through portion of CPI increases to offset expense increases Low maintenance, concreted parking lot Building can be expanded to accommodate future tenant growth This was a build to suit and lease in 2002. New 5 year lease renewal through 9/30/2022. The lease states that is may be renewed up to 5 times for periods up to 60 months each for a total of 300 months. Originally through 2012, it has been renewed once for a 10 year period. All tenants are stable with a strong history and all of the leases are guaranteed by the State of Texas, with an AAA credit rating. Annual rent increases are available based on the Consumer Price Index changes, with no early termination clauses.

1 Spaces

1
7/20/2018 12:00:00 AM 7/20/2018 4:18:36 PM

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