Marcus & Millichap is pleased to present to the market a highly desirable asset occupied by Ferguson Enterprises, Inc., a BBB+ credit tenant (NYSE: FERG) located in Victoria, Texas. The property consists of a main concrete building totaling 26,116-square feet and a 10-garage door building consisting of 4,300-square feet on a 3.11-acre lot. Ferguson executed a 65-month lease in 2016 and requested major capital improvements to the building to be able to conduct their daily operations. The improvements were in excess of $650,000 and included high-grade concrete to be laid in the storage yard, paved areas and drive-in ramps that needed to be redesigned and improved to be able to allow over 25,000 pounds of operations. The property was also completely fenced off in designated areas with 8-foot cedar fencing on the side and 6-foot in the back of the property allowing the tenant to have a secure and private yard. In 2022, Ferguson converted their 1st lease option to extend to a 5-year extension showing commitment to the site. There are 2 (3-year) extensions remaining at the end of their lease on August 31st, 2027. The tenant is paying only $6.40 annual rent per square foot, which is below the market rental rate of over $9.00 annual rent. The tenant is also benefiting from the 3.11-acre lot that they utilize and has extensive benefits to their daily operations. This offering is ideal for an investor who is seeking to acquire a very desirable asset occupied by a BBB+ credit tenant in a location that has a proven track record for a tenant who exercised they option to extend with a modification to extend the option showing commitment to the location. The property is being offered at a very attractive 6.00% capitalization rate and includes 90% CPI increases at each extension period.