AT&T

AT&T is a hard corner single tenant retail asset located across from H-E-B within an affluent submarket of Midland, Texas.  Built in 2012, the Property is located on 0.52 acres at the hard corner intersection of a thriving and dominate retail corridor approximately 5 minutes from the Midland Airpark.  AT&T has just under 3 years of term remaining with one (1) five-year renewal option and a 10% rent escalation. As a testament to the strength in the submarket and location, AT&T exercised their first 5-year renewal option in 2022 showing long term commitment to the Property. The lease features limited landlord responsibilities and an annual rent of $38.69 PSF NN. With over 5,900 stores across the United States, AT&T is ranked #74 on the Fortune 500 list and reported revenue in excess of $122.3 billion in 2024. AT&T is the worlds third largest telecommunications company by revenue and third largest wireless carrier in the United States with over 117.9 million subscribers. AT&T corporate credit is rated “BBB” by S&P and “Baa2” by Moody’s, both considered investment grade. The Property benefits strong demographics, a hard corner location with excellent residual value and visibility, multiple ingress/egress points and a two-sided pylon sign. The average household income exceeds $138,300, $129,900 and $126,300 in a one, three and five mile radii, respectively. Notable retailers at the intersection include H-E-B, Walgreens, H-E-B Fuel, Whataburger, Starbucks, Nothing Bundt Cakes, Rusty Taco, Monarch Dental, Club Pilates, I Luv Pho and Mint Salon amongst others.