State of Georgia

Tenant

State of Georgia

Location

Atlanta, GA

Price

Unstated

CAP Rate

Unstated

Lease Term

Original 20-Year Term | 19 Years Remaining

Occupancy

100%

Building Size

50,000 SQ FT

Property Type

Office

Year Built

Renovated 2021

Lot Size

4.24 Acres

Status

Available

Property Contacts:

Travis Trautvetter

Vice Chairman - Capital Markets

858 367 5105 | Email

Jake Trautvetter

Senior Director – Capital Markets

858 558 5624 | Email

Kari Fiske

Senior Brokerage Specialist

858 334 4032 | Email

STATE OF GEORGIA – INVESTMENT GRADE CREDIT
100% leased to the State of Georgia, featuring an AAA credit rating from Fitch, Moody’s, and S&P; one of only 15 states in the country with the highest credit rating from all three ratings agencies

NEW 20-YEAR LEASE
State of Georgia leases this facility for a new 20-year term commencing in July 2020, demonstrating an ongoing commitment to this location and providing a quality, long-term base of operations for Georgia Division of Child Support Services

REGIONAL OFFICE FOR CHILD SUPPORT SERVICES
Previously housing local DCSS operations serving DeKalb County, DCSS consolidated and expanded operations at the subject property to occupy 100% of the building, which now serves as a regional office for Region 8, including DeKalb, Clayton, and Henry counties, as well as servicing interstate clients

ATTRACTIVE LEASE STRUCTURE, ANNUAL 2.5% RENT GROWTH
Lease features compelling 2.5% annual base rent increases for the duration of the 20-year lease term, and a favorable structure with tenant directly responsible for janitorial, electricity, water, gas, sewer, and telephone

SIGNIFICANT CAPITAL IMPROVEMENTS
Comprehensive renovation and significant base building upgrades with new tenant improvements; major capital repairs included a new roof with 20-year warranty, landscape and parking lot upgrades, and extensive reconstruction to meet State of GA requirements for “like new” shell condition, as well as standards for lighting/ceilings, electrical, telephone, and data, HVAC, fire protection, plumbing, millwork, doors, finishes, and restrooms

ATLANTA MSA LOCATION
Located within Atlanta MSA, the 9th largest metro area within the United States, with over 6 million residents

The State of Georgia Division of Child Support Services Regional Office is a 50,000 square foot, single-tenant office building that is 100% leased to the State of Georgia for occupancy by the Division of Child Support Services (DCSS), a division of the Department of Human Services. The State of Georgia executed a new 20-year lease term for this facility, commencing in July of 2020, demonstrating an ongoing commitment to this location and providing a quality, long-term base of operations for DCSS.

The State of Georgia features an investment-grade credit rating of AAA from Fitch, Moody’s, and S&P, and is one of only 15 states in the country with the highest existing credit rating from all three ratings agencies. The lease features compelling 2.5% annual base rent increases for the duration of the 20-year lease term, and a landlord-favorable structure with tenant directly responsible for janitorial, electricity, water, gas, sewer, and telephone.

The subject property previously housed local DCSS operations serving DeKalb County in 13,500 square feet, and was the second-largest DCSS office in the State of Georgia by staffing and case load. Via the new lease and renovation of this facility, DCSS consolidated and expanded regional operations at this location for Region 8, and now occupy100% of the 50,000 square foot building, creating a long-term home for the DCSS Regional Office. DCSS Region 8 is responsible for DeKalb, Clayton, and Henry counties, as well as servicing of interstate clients that reside outside of Georgia. DCSS leadership personnel are now based in this Regional Office, and the second floor of the building serves as the state-wide training and meeting center for DCSS.

The subject property underwent a comprehensive renovation and significant base building upgrades with new tenant improvements as part of the State of Georgia lease renewal; major capital repairs included a new 20-year white foam TPO roof, landscape and parking lot upgrades, and extensive reconstruction to meet State of GA requirements for “like new” shell condition, as well as standards for lighting/ceilings, electrical, telephone, and data, HVAC, fire protection, plumbing, millwork, doors, finishes, and restrooms. Additionally, the State of Georgia paid to fit out the entire facility with new furniture and new communications and cabling.

Located within the Atlanta MSA, the 9th largest metro area within the United States with over 6 million residents, the State of Georgia DCSS Regional Office is positioned immediately north of Interstate 20 with quick access to the freeway, and other major retailers and tenants in direct proximity, including Lowe’s Home Improvement, Walmart Supercenter, Publix Super Market, Walgreens, and more. This site is located approximately 16 miles from downtown Atlanta, and approximately 23 miles from the Atlanta International Airport.