- Details
- Investment Highlights
- Description
Tenant
Social Security Administration
Location
Merced, California
Price
Unstated
CAP Rate
Unstated
NOI
Unstated
Lease Term
12 Years Remaining
Occupancy
93%
Building Size
20,699 SQ FT
Property Type
Office
Year Built
2021
Lot Size
2.0 Acres
Status
Available
Property Contacts:
U.S. FEDERAL GOVERNMENT CREDIT
Anchored by the U.S. Federal Government, with lease guaranteed by the full faith and credit of the United States of America, featuring an Aaa credit rating and unrivaled income security
15-YEAR LEASE TERM
First-generation lease for occupancy by U.S. Social Security Administration commenced in October 2021 for a new 15-year term
NEW CONSTRUCTION – 2021 REDEVELOPMENT
Comprehensive redevelopment-to-suit for SSA in 2021, designed and constructed to meet the specific needs of SSA and federal building security requirements
RELOCATION OF SSA SERVICES
The new SSA Branch Office in Merced provides a long-term base of operations meeting all modern security and space requirements for SSA, replacing the prior SSA location
EXCEPTIONAL MARKET FUNDAMENTALS – 1.2% VACANCY RATE
Located in downtown Merced, within the Central Valley of California, featuring strong demographics related to populations receiving Social Security services; the Merced market area benefits from exceptional tenant and occupier demand, with a current office vacancy rate of only 1.2% (per CoStar Analytics)
ADJACENT TO MERCED MALL
Situated adjacent to Merced Mall, with a tenant roster of Kohl’s, Starbucks, Chipotle, CVS, Target, JC Penney, dd’s Discounts, Big Lots, Michaels, Olive Garden, and Panera, plus numerous national tenants within a one-block radius, including Dutch Brothers, Jack in the Box, Burger King, 7-Eleven, Best Buy, Food 4 Less, and more