U.S. Border Patrol

Tenant

U.S. Customs & Border Protection

Location

Chula Vista, CA

Price

Unstated

CAP Rate

Unstated

Lease Term

9.5 Years Remaining

Occupancy

100%

Building Size

59,322 SQ FT

Property Type

Office

Year Built

1998

Lot Size

4.46 Acres

Status

Sold

SINGLE-TENANT FEDERAL GOVERNMENT FACILITY
Exceptional tenant credit, with lease guaranteed by United States of America, featuring an Aaa credit rating

SAN DIEGO SECTOR HEADQUARTERS FOR US BORDER PATROL
CBP San Diego Sector covers all of San Diego County and oversees eight CBP stations

BUILD-TO-SUIT CONSTRUCTION
Built-to-suit according to strict federal government standards to meet tenant-specific needs and requirements

COMMITTED TENANT – RECENT LEASE RENEWAL
New long-term lease renewal, demonstrating ongoing tenant commitment

EXCELLENT LOCATION IN SAN DIEGO
Located within the highly regarded Eastlake Business Park, with close proximity to United States / Mexico border

STRONG SUBMARKET FUNDAMENTALS
The Chula Vista submarket benefits from strong fundamentals, with an office vacancy rate of only 6.5%

The United States Customs & Border Protection (CBP) San Diego Sector Headquarters is a 100% occupied, single-tenant, 59,322 square foot office building which serves the highly essential mission of responsibility for all of Border Patrol activities in San Diego County, overseeing eight CBP stations in Brown Field Airport, Boulevard, Campo, Chula Vista, El Cajon, Imperial Beach, San Clemente, and Murrieta.

CBP San Diego Sector Headquarters was built-to-suit for the tenant in 1998 according to strict federal standards to meet the specific requirements of CBP, with ongoing tenant commitment to this location demonstrated through a new 10-year lease renewal which was executed in 2018.

This asset benefits from exceptional tenant credit, with a lease guarantee by the United States of America, featuring an Aaa credit rating from Moody’s Investors Service. GSA has a long-standing reputation as a tenant with one of the highest possible renewal probabilities, with historical data published by GSA reflecting a retention rate that typically exceeds 95% across their portfolio of over 8,000 leases nationwide.

The subject property is located within the highly regarded Eastlake Business Park in the Chula Vista submarket of San Diego, with convenient access to CA Highway 125 and close proximity to the United States border with Mexico. The Chula Vista submarket benefits from strong fundamentals and tenant demand, with an office vacancy rate of only 6.5%.

The San Diego Sector encompasses 56,831 square miles including 931 miles of coastal border from the California border with Mexico north to Oregon. San Diego Sector’s primary operational area of responsibility consists of 7,000 square miles including 60 linear miles of international boundary with Mexico and 114 coastal border miles along the Pacific Ocean. The San Diego Sector encompasses coastal beaches and expansive mesas that lead to coastal and inland mountains, rugged canyons, and high desert. Directly south of San Diego lie the Mexican cities of Tijuana and Tecate, Baja California, which have a combined population of more than four and a half million people.