San Marcos, TX 78666 OFFERED BY...San Marcos, TX 78666 OFFERED BY EXECUTIVE SUMMARY – 101 Thermon Drive For more information: Nick Tarantino, CCIM [email protected] 512-302-4500

For more information: Nick Tarantino, CCIM [email protected] 512-302-4500

101 Thermon DriveSan Marcos, TX 78666

O F F E R E D B Y

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 DriveSan Marcos, TX 78666

Size: 13,858

Occupancy: 100%

Tenant: Flatiron Constructors, Inc.

Year Built: 1980

Parking: 44 Spaces

Acreage: 2.35 Acres

101 Thermon Drive


AERIAL – 101 Thermon Drive


101 Thermon

AERIAL – 101 Thermon Drive


101 Thermon

PRICING DETAILS – 101 Thermon Drive


LOCATION 101 Thermon Drive, San Marcos, TX 78666

Price $3,441,319Rentable SF 13,858 SFBuilding Price/SF $248/SF

CAP Rate 6.75% (as of 1/1/21) Year Built 1980Lot Size 102,540 SF or 2.35 AC

LEASE SUMMARY

Tenant Name Flatiron Constructors, Inc.

Property Use General Office

Lease Guarantor CorporateLease Type Triple-Net

Roof and Structure LandlordLease Term 5 Years

Lease Commencement Date August 12, 2019

Rent Commencement Date December 15, 2019

Lease Expiration Date December 31, 2024

Term Remaining on Lease 4 Years

Options One (1) Five (5) Year at MKT

Increases See Rental Schedule

Land Price/SF $33.56/SF

MONTHSBASE RENT

PSF/YEAR

BASE RENT PER MONTH

Present – 12/31/20 $15.75 $18,201.75

1/1/21 – 12/31/21 $16.75 $19,357.42

1/1/22 – 12/31/22 $17.25 $19,935.25

1/1/23 – 12/31/23 $17.75 $20,513.08

1/1/24 – 12/31/24 $18.25 $21,090.92

Rental Schedule

FLOOR PLAN – 101 Thermon Drive


101 Thermon Drive


SURVEY – 101 Thermon Drive


TENANT OVERVIEW – 101 Thermon Drive


ABOUT FLATIRONFlatiron 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.



Replacement of the current US 181 Harbor Bridge in Corpus Christi, Texas

Replace and repair the apron and improve the drainage of 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



Source: flatironcorp.com Engineering News-Record (ENR)


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.


Texas Innovation Corridor Map – San Marcos, TX

Source: Greater San Marcos Partnership


Major Employers – San Marcos, TX


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.



Documents

San Marcos, TX 78666 OFFERED BY...San Marcos, TX 78666 OFFERED BY EXECUTIVE SUMMARY – 101 Thermon Drive For more information: Nick Tarantino, CCIM [email protected] 512-302-4500