FBI & CBP

Price

Unstated

NOI

Unstated

Building Size

10,879 SQ FT

Tenant

FBI & CBP

Occupancy

100%

Property Type

Office

Year Built

2011

Lot Size

0.89 Acres

Status

Sold

Lease Term

3.75 Years

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Aaa CREDIT TENANCY – Lease is guaranteed by the United States of America, with Aaa credit rating

MISSION-CRITICAL FACILITY – Houses FBI and DHS-CBP Office of Internal Affairs

HIGH-SECURITY, SPECIALIZED BUILDING – Highly secure federal law enforcement facility with specialized security features

BUILD-TO-SUIT CONSTRUCTION – 2011 build-to-suit according to the specific needs of FBI and Homeland Security

SIGNIFICANT REPLACEMENT COST – Replacement cost of facility is projected at over $6 million

SITE SELECTED BY FEDERAL GOVT – Location was pre-selected by GSA prior to project bids and development

DOWNTOWN LOCATION – Situated in downtown Del Rio one block from U.S. Courthouse

The Federal Bureau of Investigation (FBI) and Customs and Border Protection Office of Internal Affairs (CBP-OIA) Facility in Del Rio, Texas is a 10,879 square foot single-tenant building, leased to the U.S. Federal Government and built-to-suit according to the specific needs of FBI and CBP-OIA.

This facility is mission-critical to the tenant agencies, which must maintain operations in Del Rio due to its key location along the international border with Mexico and status as one of the 10 busiest border crossings between the United States and Mexico.

The Del Rio FBI Resident Office is responsible for a wide area of coverage, which includes Dimmit, Edwards, Kinney, Maverick, Terrell, Val Verde, and Zavala Counties. This is an exceptionally important area of oversight, as this encompasses a significant portion of the U.S./Mexico border in West Texas. The CBP-OIA office in Del Rio is one of 22 field office locations spread throughout the United States. CBP-OIA is responsible for ensuring compliance with all CBP-wide programs and policies relating to corruption, misconduct, or mismanagement, and screens potential CBP employees for suitability.

This location was pre-selected by the General Services Administration (GSA) prior to soliciting offers to design and build the facility, demonstrating the importance of this specific parcel to the government’s objectives for the tenants. Located one block from the U.S. Courthouse in downtown Del Rio and approximately four miles from the international border crossing. Built-to-suit for the tenant in 2011 at a cost of approximately $6 million, this asset is essentially irreplaceable, and given current construction costs, could not be replaced for less than the market value.

The property is leased via the GSA under an original 10-year term, and is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Services. The GSA has a long-standing reputation as a tenant with one of the highest possible renewal probabilities in the commercial real estate industry. Historical data published by the GSA regarding their portfolio of over 8,000 leases nationwide reflects a retention rate which typically exceeds 95%.