IRS REGIONAL HQ

Tenant

Internal Revenue Service & Kaplan College

Location

Sacramento, CA

Price

Unstated

CAP Rate

Unstated

Lease Term

Unstated

Occupancy

87%

Building Size

132,674 SQ FT

Property Type

Office

Year Built

1988

Lot Size

6.13 Acres

Status

Sold

SOLD ON ALL CASH BASIS
No buyer financing

COMPETITIVE OFFER PROCESS
with best and final round

87% LEASED TO TWO CREDIT TENANTS
IRS and Kaplan College

ANCHORED BY IRS
Accounting for 67% of building SF and 80% of gross income

NEW 15-YEAR LEASE RENEWAL
by IRS in 2012

BUILT-TO-SUIT FOR IRS
Serving as regional headquarters

$6.77 MILLION IN CAPITAL IMPROVEMENTS

GRE Group was hired by Amstar to market this IRS Regional Headquarters office, which included Kaplan College as a second major tenant in the building with only 1 year remaining on the lease term. GRE Group was able to successfully overcome the challenges of less than 100% government occupancy and a very short Kaplan lease, creating a competitive bid process culminating in a best and final offer round.