U.S. Probation Office
Asheville, NC
Unstated
Unstated
9 Years Remaining
100%
13,430 SQ FT
Office
2017
30,492 SQ FT
Sold
LONG-TERM FEDERAL LEASE
New 10-Year lease term with U.S. Federal Government
Aaa CREDIT TENANCY
Lease guaranteed by the United States of America
ESSENTIAL FACILITY
Western District Office for U.S. Probation, supervising federal probation in 11 counties and pretrial coverage in 18 counties
NEW CONSTRUCTION
Build-to-suit in 2017 for U.S. Probation
CLOSE PROXIMITY TO FEDERAL COURTHOUSE
Situated within one mile from the U.S. District Court
The U.S. Probation Office, Western District of North Carolina is a single-tenant, 13,430 square foot facility that was built-to-suit according to strict Federal Government specifications, with completion in October 2017.
Located in downtown Asheville, North Carolina, this facility is mission critical to the tenant, supervising federal probation in 11 counties and pretrial coverage in 18 counties within North Carolina.
The property is leased to the General Services Administration (GSA) for a new 10-year term, and is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Services. 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%.
