US General Services Administration
Baton Rouge, LA
Unstated
Unstated
20 Years
90.06%
27,569 SQ FT
Office
Rehab 2020
1.51 Acres
Sold
FEDERAL GOVERNMENT CREDIT
Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security
20-YEAR LEASE TERM
First-generation lease for new 20-year term (15 years firm) providing the maximum primary lease term as permitted by federal procurement regulations
NEW CONSTRUCTION
Complete redevelopment and reconstruction of existing shell building with completion in 2020, built according to strict federal guidelines and tenant-specific requirements to suit operational needs
ESSENTIAL FACILITY – NATIONAL HD CLINICAL CENTER
The HRSA National Hansen’s Disease Clinical Center is the only facility in the United States devoted to diagnosis, treatment, and research of this disease, providing essential services including consultations for physicians, pathology, shipping of medication, educational materials, and surgical care and rehabilitation
SIGNIFICANT TENANT INVESTMENT
$3.667 million paid by the federal government in tenant improvements, demonstrating significant investment in this facility
THE HEALTH RESOURCES & SERVICES ADMINISTRATION (HRSA)
National Hansen’s Disease Clinical Center in Baton Rouge, Louisiana is a single tenant medical building which is the only facility in the United States devoted to diagnosis, treatment, and research concerning Hansen’s Disease (HD).
The HRSA National HD Clinical Center is a first-generation facility for the U.S. Federal Government and is leased via the U.S. General Services Administration (GSA) for a new 20-year lease term, with 15 years firm. The lease is guaranteed by the full faith and credit of the United States of America, featuring an Aaa credit rating from Moody’s Investors Service and offering unrivaled income security. 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%.
Consisting of 27,569 square feet, the existing shell building was substantially redeveloped and reconstructed to suit the specific needs of the tenant agency, with completion and lease commencement in July of 2020. HRSA invested significant funds into this clinic, with tenant improvement costs totaling $3.667 million.
Services at the National HD Clinical Center include consultations for physicians treating complicated cases of HD, pathological review of biopsies, shipping of antibiotics, educational materials, and surgical care and rehabilitation. The clinic is located in immediate proximity to Interstate 12 with freeway visibility, nearby Baton Rouge Country Club, and is surrounded in the area by major tenants including Costco, Walmart, Albertson’s, McDonald’s, CVS, Walgreens, FedEx, UPS, Cracker Barrel, national hospitality chains, and more.
