Allen, TX - Strike Photonics HQ

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, Strike Photonics headquarters located in Allen, Texas (Dallas-Fort Worth MSA). The tenant, Strike Photonics, Inc., has approximately 19 years remaining with 2 (10-year) options to extend, demonstrating their long-term commitment to the site. The lease features rare 2% annual rental increases throughout the initial term and FMV rent increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed by Strike Biotech, Inc. and is NNN with landlord responsibilities limited to structure making it an ideal, low-management investment opportunity for passive investor in an Income tax free state.

The asset is 100% occupied by Strike Photonics, a technology platform company utilizing photonic chip designs for multiple application fields that include rapid viral testing, electronic warfare, telecommunications, and bio-medical testing and monitoring. The company specializes in integrated circuit technology increase performance and security, reduce chip count and integration complexity, enabling clients to focus on breakthrough pathogen detection, screening, and monitoring for a safer and healthier future. Built in 1996, the state-of-the-art building is situated on 14.04 acres of land with approximately 474 on site parking spaces. The site totals 164,866 SF and is comprised of 83,000 SF of office space, 67,000 SF of lab and warehouse space, and 14,866 SF designated as mechanical space. Amenities within the property include five dock high doors equipped with levelers, one drive-in door, 200 kW generator, top of the line security system, two 350-ton Trane chillers, and two 2500 KVA Oncor transformers.

Strike Photonics is strategically located along Sam Johnson Highway, an arterial thoroughfare that supports over 181,000 vehicles per day. The asset is positioned at an ideal, centralized location with just a 25 minute drive to Downtown Dallas, 30 minutes to Dallas Fort Worth Airport, 30 minutes to Love Field Airport, and 50 minutes to downtown Fort Worth. Furthermore, the subject is located within the heart of Collin County, the 8th fastest growing county in the nation which experienced a population increase of more than 284,000 over the past decade. The property is within close proximity of multiple apartment complexes including The Lofts at Watters Creek (342 units), Alleia Watters Creek (252 units) and The Inkwelll Watters Creek Apartments (363 units), providing current and future employees convenient residential options to choose from. The 5-mile subject trade area is supported by more than 287,000 residents and 77,000 daytime employees who boast an affluent average household income of more than $138,000.