Internal Revenue Service (IRS) & Kaplan College
132,674 SQ FT
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.