VA OUTPATIENT CLINIC

Tenant

U.S. Department of Veterans Affairs

Location

Knoxville, IA

Price

Unstated

CAP Rate

Unstated

Lease Term

15 Years

Occupancy

100%

Building Size

16,731 SQ FT

Property Type

Medical Office

Year Built

2017

Lot Size

2.94 Acres

Status

Sold

Property Contacts:

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Jake Trautvetter

Capital Markets

858 558 5624 | Email

Kari Fiske

Brokerage Coordinator

858 334 4032 | Email

SINGLE-TENANT FEDERAL GOVERNMENT FACILITY
100% Leased to the U.S. Department of Veterans Affairs

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

LONG-TERM, FIRM LEASE
New 15-Year firm lease term with no termination rights

BUILD-TO-SUIT CONSTRUCTION
2017 build-to-suit healthcare facility

RELOCATION OF VA SERVICES IN KNOXVILLE (97-YEAR HISTORY) – Relocation of existing VA clinic that was originally founded in Knoxville in 1920

SUSTAINABLE AND ENERGY-EFFICIENT DESIGN
Designed and constructed to achieve LEED Silver for Healthcare Certification

 

The Veterans Affairs (VA) Outpatient Clinic in Knoxville, Iowa is a new build-to-suit healthcare facility consisting of 16,731 rentable square feet that was completed in January 2017.

The subject property is 100% occupied via a new 15-year firm term with the U.S. Department of Veterans Affairs, with no termination rights. The lease is guaranteed by the United States of America, which features an Aaa credit rating from Moody’s Investor Services. This non-cancellable lease is a rare structure for the Federal Government, and demonstrates the tenant’s long-term commitment to the facility.

This new facility is a relocation of existing VA services in Knoxville, where the VA has a 97-year history of providing healthcare to Veterans, and is a product of over 10 years of work to obtain approvals to establish a new location for this market area. Previously, VA services were offered at the now-closed VA Medical Complex, which first opened in 1920. The building is designed to achieve LEED Silver for Healthcare Certification, incorporating a variety of features related to sustainability and energy efficiency.