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GOVT News

Closed Transaction: U.S. Federal Facility

09.28.2023

GOVT Real Estate Group Closes U.S. Federal Government Facility in the San Francisco Bay Area

San Diego, California | September 28thth, 2023 –GOVT Real Estate Group announced today the recent sale of a highly secure and specialized building that was redeveloped-to-suit for the U.S. General Services Administration (GSA) with completion in 2022. This 15,930 square-foot facility in the San Francisco Bay Area is leased on a long-term basis, guaranteed by the full faith and credit of the United States of America.

The U.S. Federal Government Facility was constructed according to specific needs of the tenant, with significant levels of security. The U.S. General Services Administration funded Tenant Improvements in excess of $10.825 million ($680 per foot), demonstrating exceptionally significant investment into the building by the tenant. The property is located in the San Francisco Bay Area MSA, the 13th largest metro area in the United States with a population exceeding 4.6 million.

The property was acquired by an independent asset manager that focuses on government property acquisitions and was sold on behalf of a development firm based in California.

 

GOVT Real Estate Group

GOVT Real Estate Group is the national market leader in government property sales and investor services, with transaction volume exceeding $7 billion and closings in 45 states. Founded in 2005, GOVT Real Estate Group provides highly skilled client representation via unmatched expertise and experience, and a network of influential relationships with institutional and private capital sources that is global in reach. Through the power of specialization, GOVT Real Estate Group maximizes value and optimizes results on every assignment.

GOVT Real Estate Group’s transaction experience includes facilities occupied by all active government departments and agencies, including FBI, DEA, IRS, FEMA, FDA, ATF, OSHA, Veterans Affairs, Secret Service, Homeland Security, Immigration and Customs Enforcement, Citizenship and Immigration Services, Social Security, U.S. Attorneys, U.S. Courts, Customs and Border Protection, Air Force, Department of Defense, Army Corps of Engineers, Defense Health Agency, Health Resources and Services, Department of Interior, Forest Service, Bureau of Land Management, Fish & Wildlife, Geological Survey, Environmental Protection Agency, Department of Energy, Military Entrance Processing Command, Department of Agriculture, and National Parks Service.