San Diego, CA – August 10, 2017 – The Government Real Estate Group of Cushman & Wakefield announced today the closing of the U.S. Citizenship and Immigration Services (USCIS) Field Office, a 21,116 square foot building located in the capital city of Montgomery, Alabama. This facility is leased under a new 15-year term with the U.S. Federal Government, and serves as the headquarters for USCIS in Alabama. The property was sold to a public, non-traded REIT that acquires properties leased to the federal government.
“The USCIS location in Montgomery was a compelling offering due to the importance of this new headquarters location, which is responsible for providing all USCIS services in the state of Alabama. The state previously did not have a USCIS location, forcing these services to be provided at offices in surrounding states,” said Travis Trautvetter, Vice Chairman of Cushman & Wakefield, who led the transaction team. “We were able to achieve a key objective of the seller in this transaction, structuring an earn-out provision as part of the sale agreement that allows our client to capitalize on the expected expansion of the USCIS leased space within the building, while avoiding the need to delay the sale until the expansion actually occurs.”
About Government Real Estate Group
The Government Real Estate Group (GRE Group) of Cushman & Wakefield is a specialized team focused exclusively on assets leased to government tenants located throughout the United States. GRE Group is the national market leader in investment sales of government properties, with transaction volume exceeding $3.5 billion and closings in 45 states.