Overview
Transwestern is pleased to present the exclusive opportunity to acquire 3610 Vine Street
(the "Property"), a 23,165-square-foot, two-story office building in Abilene, Texas.
The Property is fully leased through the Texas Facilities Commission to its sole occupant, the Texas Department of Family and Protective Services (DFPS). Backed by the credit of the State of Texas, the tenancy provides a stable, government-supported income stream from a mission-critical agency that has occupied the Property since 1999.
In December 2024, DFPS executed a new 10-year lease term commencing April 1, 2026, and extending through March 31, 2036. The renewal reset rental rates to market, increasing rent from $9.67 per square foot to $18.99 per square foot and underscoring the agency's long-term commitment to the location.
Annual fixed rent increases of approximately 3% drive contractual income growth throughout the lease term, with rent reaching $24.78 per square foot by expiration. Supported by State of Texas credit, a fresh 10-year lease term and built-in rent growth, the Property offers dependable long-term cash flow with minimal credit risk.
Investment Highlights
Located in Abilene, Texas, the county seat of Taylor County and the primary commercial center of West Central Texas, the Property benefits from a strategic location along Interstate 20 approximately 150 miles west of Dallas-Fort Worth.
The market is supported by a diverse economy anchored by Dyess Air Force Base, higher education, healthcare and government employment.
Fully occupied by the Texas Department of Family and Protective Services (DFPS), the Property serves as a key regional office supporting agency operations throughout West Central Texas.
As part of a December 2024 lease renewal, ownership is funding significant interior upgrades, including new slip-resistant flooring, renovated ADA-compliant restrooms, improved break rooms and fresh interior paint, reflecting the tenant's long-term commitment
to the location. The modified gross lease structure, under which the tenant pays its own utilities and janitorial expenses, helps minimize landlord responsibilities and operating costs.
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