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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a recent 2015 constructed Origin Bank located in an affluent submarket of Houston, Texas. The subject property is leased to Origin Bank, a banking and financial service provider with 44 banking locations throughout Texas, Louisiana and Mississippi, including 19 locations in the State of Texas and 9 throughout the Houston Metro area. The Asset is encumbered by an absolute triple-net lease with 13 years remaining, inclusive of 2.00% annual escalations and four, five-year renewal options. The Asset benefits from a strategic location directly across the street from an H-E-B anchored shopping center at the lighted intersection of San Felipe Street (35K VPD) and Fountain View Drive (15K VPD), offering optimal visibility and accessibility. This offering possesses excellent real estate fundamentals and presents the unique opportunity to acquire a long-term investment leased to a growing financial service provider in a high growth submarket of Houston.
HIGH QUALITY REGIONAL BANKING TENANCY WITH DRIVE-THRU
•Origin Bank is a top ranked bank that recently achieved record net income of $28.3 million for the quarter-ending December 31st, 2021. The bank provides a wide array of financial services across their 44 banking locations with total assets of $7.86 billion and total deposits of $6.57 billion at year-end December 31st, 2021.
EXCEPTIONAL REAL ESTATE FUNDAMENTALS
•The Asset is located directly across the street from an H-E-B anchored shopping center at a lighted intersection of Fountain View Drive and San Felipe Street, a corner that experiences traffic counts of 50,000 vehicles per day. This ideal positioning puts the Asset two miles from the Galleria, 10 miles to downtown Houston and the Houston Medical Center and within close proximity to some of Houston’s most affluent neighborhoods including Memorial, Tanglewood, and Briargrove.
EXCELLENT FINANCIAL SERVICE PROVIDER DEMOGRAPHICS
•The property is surrounded by a dense and affluent demographic base with 522,625 residents and average annual household income of $122,855 within a 5-mile radius.
OPTIMAL LONG-TERM NET LEASE STRUCTURE
•Origin Bank is operating on an absolute NNN lease with 13 years remaining, inclusive of 2.00% annual escalations and four, five-year options.