101 Thermon Drive OFFERED BY San Marcos, TX 78666
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 EXECUTIVE SUMMARY – 101 Thermon Drive
Tarantino Properties, Inc. is pleased to offer the exclusive opportunity to purchase 101 Thermon Drive (the “Property”), a 100% leased free standing office building located approximately 30 miles south of Austin in San Marcos, TX. This 13,858 SF office building sits on 2.35 Acres of land fronting I-35 with over 131,286 vehicles per day and is fully leased to Flatiron Constructors, Inc. on a NNN lease. The building is one story, features two courtyards of outdoor space, has a standing metal seam roof and is designed with primarily individual private offices. The site has excellent access and visibility from I-35 and has excess land available for future development. With just over 4 years remaining on this Lease, 101 Thermon provides the opportunity to invest in the property cash flow while also benefiting from the continued growth in the Austin and San Antonio Corridor. In 2016, Amazon opened its regional fulfillment center less than 2 miles from the property. San Marcos has been ranked as the fastest growing city the US between 2013 -2015 and home to Texas State University, the fourth largest university in Texas with an enrollment in excess of 38,000 students.
Property Summary Property: 101 Thermon Drive San Marcos, TX 78666
Size: 13,858 Occupancy: 100% Tenant: Flatiron Constructors, Inc. Year Built: 1980 Parking: 44 Spaces Acreage: 2.35 Acres
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 101 Thermon Drive
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 AERIAL – 101 Thermon Drive
101 Thermon
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 AERIAL – 101 Thermon Drive
101 Thermon
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 PRICING DETAILS – 101 Thermon Drive
LOCATION 101 Thermon Drive, San Marcos, TX 78666
Price $3,441,319 Rentable SF 13,858 SF Building Price/SF $248/SF Land Price/SF $33.56/SF CAP Rate 6.75% (as of 1/1/21) Year Built 1980 Lot Size 102,540 SF or 2.35 AC
LEASE SUMMARY Tenant Name Flatiron Constructors, Inc. Property Use General Office Rental Schedule Lease Guarantor Corporate Lease Type Triple-Net BASE BASE RENT MONTHS RENT Roof and Structure Landlord PER MONTH Lease Term 5 Years PSF/YEAR Lease Commencement Date August 12, 2019 Present – 12/31/20 $15.75 $18,201.75 Rent Commencement Date December 15, 2019 1/1/21 – 12/31/21 $16.75 $19,357.42 Lease Expiration Date December 31, 2024 1/1/22 – 12/31/22 $17.25 $19,935.25 Term Remaining on Lease 4 Years 1/1/23 – 12/31/23 $17.75 $20,513.08 Options One (1) Five (5) Year at MKT 1/1/24 – 12/31/24 $18.25 $21,090.92 Increases See Rental Schedule
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 FLOOR PLAN – 101 Thermon Drive
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 101 Thermon Drive
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 SURVEY – 101 Thermon Drive
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 TENANT OVERVIEW – 101 Thermon Drive
ABOUT FLATIRON Flatiron develops innovative solutions to build critical infrastructure and landmark projects. Flatiron builds roads, bridges, rail, airports, dams, industrial, water and underground projects from common to complex, large-scale jobs. Delivering successful projects under a variety of contracting methods, Flatiron has unparalleled design-build and public-private partnership experience and expertise. Founded in Boulder, Colorado, in 1947, and named for the unique rock formations there, Flatiron now operates across the U.S. and Canada. Flatiron is a subsidiary of German-based HOCHTIEF, one of the world’s largest international construction service providers.
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 TENANT OVERVIEW – 101 Thermon Drive
Replacement of the current US 181 Harbor Bridge in Replace and repair the apron and improve the drainage of Corpus Christi, Texas the gate pavement around Concourses B and C at Denver International Airport.
Building Wellsburg Bridge in the state of West Virginia Building C-470 Tolled Express Lanes in Douglas County, Colorado
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 TENANT OVERVIEW – 101 Thermon Drive
Engineering News-Record (ENR) Source: flatironcorp.com
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 AUSTIN MSA OVERVIEW
Austin is the state Capital of Texas, an inland city bordering the Hill Country region. The MSA, which includes Travis, Williamson, Hays, Bastrop and Caldwell Counties, is home to over 2.2 million people and is one of the fastest growing MSAs in the country.
Famous for its laid-back atmosphere, fierce loyalty to the local economy, and its notoriety as the “Live Music Capital of the World,” the city is cited as one of the top cities to live in by many major publications. Austin has earned the nickname “Silicon Hills” because companies such as Apple, Dell Computer, IBM, Intel, AMD, National Instruments and Samsung.
In addition, the city is home to The University of Texas’ flagship institution, which was ranked 28th out of the top 100 universities in the world by Times Higher Education. The University’s top ranked Division I athletic program also provides sports entertainment opportunities in the city.
With its desirable climate and abundance of entertainment options, the city is an attractive location both for current and potential residents. Over the past decade the area has enjoyed a sustained period of economic and population expansion as local companies increase their business capacity and others relocate to this attractive central U.S. location.
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 Texas Innovation Corridor Map – San Marcos, TX
Source: Greater San Marcos Partnership
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 Major Employers – San Marcos, TX
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 SAN MARCOS OVERVIEW
San Marcos, Texas is an exciting, historic community in the heart of Central Texas midway between Austin and San Antonio known for the country’s largest outlet mall, a historic downtown square, and tons of waterways to kayak, paddleboard or float on.
Modern San Marcos, Texas was founded in 1851 and has flourished for more than 161 years. In 2001, the community celebrated our Sesquicentennial-our 150th Birthday-with an entire year of special events, commemorations and special publications.
Today, San Marcos is home to Texas State University, the fourth largest university in Texas (alma mater of Lyndon Baines Johnson) the famous San Marcos outlet malls (largest in the Southwest) an historic downtown with many live music venues, Our residents come from diverse backgrounds and are dedicated to an exciting variety of civic, educational, cultural, sports, outdoor and religious activities.
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500 TENANT OVERVIEW – 101 Thermon Drive
For more information: Nick Tarantino, CCIM [email protected] 512-302-4500