SSA BRANCH OFFICE

Tenant

Social Security Administration

Location

Bloomingdale, IL

Price

$3,442,000

CAP Rate

8.00%

Lease Term

10 Years

Occupancy

100%

Building Size

10,844 SQ FT

Property Type

Office

Year Built

1997

Lot Size

1.25 Acres

Status

Under Contract

Property Contacts:

Jake Trautvetter

Capital Markets

858 558 5624 | Email

Travis Trautvetter

Vice Chairman

858 558 5609 | Email

Kari Fiske

Brokerage Coordinator

858 334 4032 | Email

NEW 10-YEAR LEASE TERM
New 10-year GSA lease with 5 years firm

Aaa CREDIT TENANCY
Lease guaranteed by the United States of America – Aaa credit rating

BUILD-TO-SUIT CONSTRUCTION
Built-to-suit in 1997 according to the strict requirements and specifications of the General Services Administration (GSA)

NEW TENANT IMPROVEMENTS
Scheduled tenant improvements include new roof, LED lighting fixtures, carpet, vinyl flooring, paint, parking lot maintenance and upgrades to security and electrical systems

EXPANSION CAPABILITY
Property includes additional land adjacent to the SSA office, with Final Site Approval and structural elements built in place to facilitate a 4,000 square foot tenant expansion or to accommodate an additional agency or tenant

SURROUNDED BY MAJOR TENANTS
Surrounding tenants include Walgreens, Starbucks, Dunkin’ Donuts, Ace Hardware, McDonald’s, Chase Bank, and CVS

RARE CHICAGO MSA INVESTMENT OPPORTUNITY
Rare opportunity to acquire a federal government-leased building located in the highly sought-after market of Chicago

The Bloomingdale SSA Branch Office is a single-tenant, 10,844 square foot office facility located approximately 18 miles from O’Hare International Airport.

This facility was built-to-suit for the SSA in 1997, designed and developed according to the strict standards and specific requirements of the U.S. Federal Government. Scheduled tenant improvements for the property include a new roof, LED lighting fixtures, new carpet and vinyl flooring, paint, parking lot maintenance and upgrades to security and electrical systems.
The property is leased for a new 10-year term via the General Services Administration (GSA), demonstrating the long-term commitment to this location. The lease is projected to commence in November 2019 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%.

Property includes additional land adjacent to the SSA office, with Final Site Approval and structural elements built in place to facilitate a 4,000 square foot tenant expansion or to accommodate an additional agency or tenant. This location benefits from excellent accessibility, with immediate proximity to Highway 20 near the intersection of Interstate 355 and Interstate 290. Other nearby national tenants include Walgreens, Starbucks, Dunkin’ Donuts, Ace Hardware, McDonald’s, Chase Bank and CVS. The Bloomingdale SSA is a rare opportunity to acquire a federal government-leased building located in the highly sought-after market of Chicago, Illinois.