U.S. Federal Government facility in Fort Lauderdale, Florida. Single-tenant, 16,000 square foot facility that was comprehensively redeveloped with completion in March 2018.
Leased via a new 15-year term with the General Services Administration (GSA), and is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investors Service. 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%.
The subject property benefits from a central location within Florida’s renowned Gold Coast, and is part of the Greater Miami Metro area, the 8th largest in the United States and 73rd largest in the world, with a population exceeding 6 million residents. The property has immediate access to Highway 441 and is in close proximity to Fort Lauderdale-Hollywood International Airport.