- Details
- Investment Highlights
- Description
Tenant
GSA
Location
Imperial, CA
Price
Unstated
CAP Rate
Unstated
Lease Term
Unstated
Occupancy
Unstated
Building Size
57,538 SQ FT
Property Type
Office
Year Built
Unstated
Lot Size
4.71 Acres
Status
Sold
GSA
Imperial, CA
Unstated
Unstated
Unstated
Unstated
57,538 SQ FT
Office
Unstated
4.71 Acres
Sold
SOURCED PRIVATE CALIFORNIA 1031 EXCHANGE BUYER
THREE PROPERTY GSA & COUNTY PORTFOLIO
SOLD WITH TERMINATION OPTION ON 62% OF OCCUPANCY
LONG-TERM GOVERNMENT TENANTS
MISSION-CRITICAL LOCATION NEAR CALEXICO PORT OF ENTRY (POE) BETWEEN U.S. / MEXICO
OCCUPIED BY KEY LAW ENFORCEMENT AGENCIES
RECENT LEASE RENEWALS AND TENANT EXPANSION
The Imperial Valley GSA Portfolio is comprised of three contiguous office buildings, each housing mission critical government tenants with long-term leases in place, located in Imperial, California. This location offers immediate proximity to both of the Ports of Entry between the United States and Mexico in Calexico, which is a crucial area for the agencies that occupy these facilities due to their focus on immigration and drug trafficking control. The West Calexico Port of Entry (POE) was the third most active POE into the United States in 2012 by pedestrian crossings, at 4.885 million, in addition to over 4 million personal vehicle crossings. The East Calexico POE had nearly 750,000 truck crossings in 2012, making it the fifth-ranked POE by truck crossings along the Southern U.S. border.
Four tenant agencies occupy the Imperial Valley GSA Portfolio: U.S. Department of Homeland Security, Immigration and Customs Enforcement (ICE) and Citizenship and Immigration Services (CIS); U.S. Department of Justice, Executive Office of Immigration Review (EOIR); and Imperial County, High-Intensity Drug Trafficking Areas Program (HIDTA). In total, there are three leases for these properties. Two leases are with the Federal Government, through the General Services Administration (GSA) and one lease is with Imperial County. The Imperial County lease is funded by the Federal Government as part of the High Intensity Drug Trafficking Areas (HIDTA) program created by Congress with the Anti-Drug Abuse Act of 1988, which provides assistance to Federal, state, local, and tribal law enforcement agencies.