IRS – NORTH POINTE CORP. CENTER

Price

Unstated

NOI

Unstated

Building Size

132,674 SQ FT

Tenant

Internal Revenue Service (IRS) & Kaplan College

Occupancy

87%

Property Type

Office

Year Built

1988

Lot Size

6.13 Acres

Status

Sold

Lease Term

12 Years

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Jake Trautvetter

Capital Markets

858 558 5624 | Email

87% Leased to two credit tenants: IRS and Kaplan College

GSA – IRS accounts for 67% of building SF and 80% of income

Aaa Credit tenancy, guaranteed by United States of America

Both IRS and Kaplan leases include scheduled base rent increases

Built-to-Suit for IRS in 1988 serving as regional headquarters, and sole Sacramento campus location for Kaplan College since 1999

New 15-year lease renewal by IRS in 2012

17,877 Square feet of vacant space provides upside potential and opportunity to add value with future expansion by Kaplan College or IRS

$6.77 Million in capital improvements since 2007

New acquisition financing can be placed on the property at exceptionally attractive rates and terms

Building is Energy Star Rated

IRS – North Pointe Corporate Center is a four-story office building, totaling 132,674 square feet, located in the California state capital city of Sacramento. The property is 87% leased and occupied by two credit tenants, the U.S. General Services Administration (GSA), which has approximately 12 years remaining on the lease term, and Kaplan College.  The Internal Revenue Service (IRS) anchors this building via the GSA lease, which accounts for 67% of the rentable square footage, with Kaplan College occupying an additional 19% of the building. This is a strategic location for both IRS and Kaplan, and each tenant has a history of long-term occupancy in the building.

IRS – North Pointe Corporate Center benefits from exceptional visibility and access due to its position on a small hillside on the major thoroughfare of Watt Avenue.  The site overlooks the junction of Interstate-80 and the Capital City Freeway, which experience close to 300,000 vehicles per day.  The property is accessible directly from an Interstate-80 freeway off-ramp, and is located within a 5-minute walk to the regional light rail and bus service at the Watt Station. Kaplan College enjoys significant benefit from prominent building–top signage, providing valuable exposure to the high traffic volume which passes by the property.