U.S. ARMY CORPS OF ENGINEERS

Price

Unstated

NOI

$2,570,219

Building Size

199,257 SQ FT

Tenant

U.S. Army Corps of Engineers & U.S. Social Security Administration

Occupancy

100%

Property Type

Office

Year Built

1996

Lot Size

17.17 Acres

Status

Sold

Lease Term

Unstated

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

SINGLE-TENANT FEDERAL GOVERNMENT OFFICE
Property is 100% leased to the United States Federal Government

Aaa CREDIT TENANCY
Lease is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Services

MISSION-CRITICAL FACILITY
Vicksburg District Office is one of the largest civil works districts within the U.S. Army Corps of Engineers, and is responsible for 68,000 square miles encompassing seven major river basins in three states, including 278 miles of the Mississippi River

NEW LONG-TERM LEASE
Long-term location for U.S. Army Corps with ongoing commitment to the facility demonstrated via a new 12-year firm lease term

The U.S. Army Corps of Engineers (USACE) Vicksburg District Headquarters is a 199,257 square foot, two-story, single-tenant office building that is 100% leased to the United States Federal Government.

This facility houses mission-critical functions for U.S. Army Corps, serving as one of 41 USACE district offices worldwide. The Vicksburg District is one of six districts within the Mississippi Valley Division, which is a primary area of focus for USACE.

The Vicksburg District Office is a long-term home for the US Army Corps of Engineers, with continued commitment to the facility demonstrated via a new 12-year firm lease term with the General Services Administration (GSA) for 170,693 square feet, commencing August 1, 2016. The remaining balance of 28,564 square feet are occupied by both USACE Information Technology (USACE-IT) and U.S. Social Security Administration (SSA) via a separate GSA lease which was just extended for a new 3-year term. It is anticipated that SSA will relocate from this facility by the end of the 3-year extension and USACE-IT will expand into the balance of the space. The leases are 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%.