- Details
- Investment Highlights
- Description
Tenant
U.S. Department of Veterans Affairs
Location
Baton Rouge, Louisiana
Price
Unstated
CAP Rate
Unstated
NOI
Unstated
Lease Term
20 Years
Occupancy
100%
Building Size
7,738 SQ FT
Property Type
Office
Year Built
2023 Redevelopment
Lot Size
0.98 Acres
Status
Available
Property Contacts:
U.S. FEDERAL GOVERNMENT CREDIT
Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security
NEW 20-YEAR LEASE TERM
First-generation lease with U.S. Department of Veterans Affairs for new 20-year term commencing in November 2023, featuring a rare government lease structure with no termination rights through Lease Year 15
2023 CONSTRUCTION – FINISH-TO-SUIT / RELOCATION
Finish-to-suit for VA, completed in November 2023 and relocating existing Vet Center services in Baton Rouge to a new single-tenant, high-quality facility; project was a redevelopment of a former credit union building to meet the specific requirements of tenant
SIGNIFICANT TENANT INVESTMENT
VA funded $1.99 million in new tenant improvement costs ($257 per foot) paid in lump sum at project completion, demonstrating significant tenant investment in the facility
OUTSTANDING LOCATION IN RETAIL CORRIDOR
The new Vet Center in Baton Rouge features an outstanding location in direct proximity to a primary retail corridor with surrounding tenants that include Super Target, Walmart Supercenter, Costco, Top Golf, Albertsons, Home Depot, Kohl’s, Sam’s Club, Lowe’s Home Improvement, Sonic, Starbucks, Shell, Jack in the Box, Mall of Louisiana, and auto dealerships for Mercedes, GMC, BMW, Dodge-Jeep-RAM, Lexus, Toyota, and more
BATON ROUGE – STATE CAPITAL OF LOUISIANA
Baton Rouge, the State Capital of Louisiana, ranks as the 99th largest city within the United States, with a population exceeding 227,000