FBI FIELD OFFICE

Price

Unstated

NOI

Unstated

Building Size

96,607 SQ FT

Tenant

The Federal Bureau of Investigation

Occupancy

100%

Property Type

Office

Year Built

2001

Lot Size

11.75 Acres

Status

Sold

Lease Term

20 Years

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Jake Trautvetter

Capital Markets

858 558 5624 | Email

The FBI Field Office in Richmond serves as the regional headquarters, responsible for oversight of six FBI resident agencies located throughout the state of Virginia.

As one of only 56 FBI Field Offices in the United States, this offering presents a rare opportunity to acquire a major facility for one of the most desirable tenant agencies within the Federal Government.

The GSA lease is guaranteed by the United States of America, which features an Aaa credit rating from Moody’s Investor Services.

GSA recently exercised a 5-year lease renewal option for the FBI that will commence in January 2016, evidencing their ongoing commitment to this facility.

Security features include 100 foot setbacks, reinforced security fencing and vehicle barriers, perimeter wall, blast resistant envelope and window features, intrusion detection systems, and Secure Work Environment (SWE) space.

The FBI Field Office in Richmond is located approximately 100 miles from Washington D.C.  This non-CBD location was strategically selected by the FBI giving the facility close proximity to FBI Headquarters, the hub for the Federal Government and access to major interstates.

Ownership undertook an energy retrofit and efficiency program in 2013, which included extensive LED lighting upgrades and full HVAC commissioning. Post-project analysis has shown the retrofit to have reduced the property’s energy consumption by an average of 36,222 kWh per month, resulting in an average savings of 15%.

The FBI Field Office in Richmond, Virginia is a 96,607 square foot facility that is 100% leased by the U.S. General Services Administration (GSA) for occupancy by the U.S. Department of Justice, Federal Bureau of Investigation (FBI).  This highly specialized and secure facility was built-to-suit for the tenant in 2001.

This facility serves as the regional headquarters and is responsible for oversight of six FBI resident agencies located throughout the state of Virginia. As one of only 56 FBI Field Offices in the United States, this offering presents a rare opportunity for an investor to acquire a major, mission critical facility occupied by one of the most desirable tenant agencies within the Federal Government.

GSA recently exercised a 5-year lease renewal option that will commence in January 2016, evidencing the tenant’s ongoing commitment to this facility. The lease 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%.

This FBI Field Office is designated as an Interagency Security Committee (ISC) Level IV facility, making it one of the most highly secured buildings in the federal government portfolio of both owned and leased assets. Security features include 100 foot setbacks, reinforced security fencing and vehicle barriers, perimeter wall, blast resistant envelope and window features, intrusion detection systems, and Secure Work Environment (SWE) space, all of which are crucial to the tenant’s security requirements. Additionally, this facility was designed to accommodate contiguous expansion of at least 20% which enhances the long-term viability of this asset due to its ability to accommodate any future growth needs of the tenant.

The FBI has a long history in the state capital of Richmond, having established and maintained a field office there since 1937.  This facility plays an extremely critical role in the FBI network, as the Richmond Division covers 82 counties within the commonwealth of Virginia. The Richmond Field Office is charged with oversight of six FBI satellite offices, known as resident agencies, located in Winchester, Fredericksburg, Charlottesville, Lynchburg, Roanoke, and Bristol.