About the Property

The subject property is located on the western side of the Houston MSA in the city of Sugar Land, Texas. Sugar Land is one of the fastest-growing cities in Texas, having grown more than 158 percent in the last decade. Some of the other national tenants in the surrounding area include: Wells Fargo, 7-Eleven, CVS, Walgreens, Pizza Hut, Sonic, Domino’s, McDonald’s, Popeye’s Chicken, Kroger, Subway, Wal-Mart, Burger King, Bank One, Blockbuster, and Firestone Tire and Auto.

Tenant

Washington Mutual (or WaMu; NYSE: WM) is the United States’ largest savings and loan association. Despite its name, it is not a credit union, and ceased being a mutual company in 1983. It is publicly traded on the New York Stock Exchange. In March 2006, Washington Mutual began moving into its new headquarters, WaMu Center, located in downtown Seattle. The company’s previous headquarters, Washington Mutual Tower, still stands about a block away from the new building on Second Avenue.

Washington Mutual’s principal activities are to provide financial services to consumers and small businesses such as retail banking, mortgage lending, consumer lending, business banking, business lending, insurance services, credit card services, commercial real estate mortgage and consumer investment services.

Washington Mutual is the sole surviving major Seattle-based bank after the flurry of mergers in the 1980s and 1990s ended the independence of Rainier Bank, Seafirst Bank, and People’s Bank, among others. Washington Mutual operates more than 2,600 retail banking, mortgage lending, commercial banking, and financial services offices, as of June 30, 2006.

Detail Information

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