USCIS FIELD OFFICE

Tenant

U.S. Citizenship & Immigration Services

Location

San Antonio, Texas

Price

Unstated

CAP Rate

Unstated

NOI

Unstated

Lease Term

8.5 Years Remaining

Occupancy

100%

Building Size

60,838 SQ FT

Property Type

Office

Year Built

2016

Lot Size

6 Acres

Status

Available

Property Contacts:

Travis Trautvetter

Managing Partner | Capital Markets

858 367 5105 | Email

Jake Trautvetter

Managing Partner | Capital Markets

858 367 5102 | Email

Kari Fiske

Director | Operations

858 367 5450 | Email

Isabel Musgrove

Director | Marketing

858 367 0929 | Email

U.S. FEDERAL GOVERNMENT CREDIT
Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security

FIRST-GENERATION LEASE
First-generation lease for an original 15-year term, occupied by U.S. Department of Homeland Security, Citizenship and Immigration Services (USCIS)

REGIONAL FACILITY FOR U.S. CITIZENSHIP & IMMIGRATION SERVICES
The San Antonio Field Office is one of only five USCIS regional offices throughout the state of Texas

2016 REDEVELOPMENT FOR USCIS
Comprehensive redevelopment-to-suit for USCIS, with completion in 2016, constructed to meet specific requirements of the tenant and in adherence with strict federal building security standards

SIGNIFICANT TENANT IMPROVEMENT
Over $5 million in new tenant improvements funded by USCIS, demonstrating significant tenant investment in the facility

GREEN BUILDING-LEED SILVER CERTIFICATION
LEED Silver Certified (Commercial Interiors), evidencing green designed and built with sustainability and efficiency

SAN ANTONIO LOCATION – 24th LARGEST MSA
Located in San Antonio, the 24th largest metro area in the United States, with an MSA population exceeding 2.6 million

PRIME HIGHWAY FRONTAGE, HOME DEPOT SHADOW ANCHOR
Shadow anchored by Home Depot as the adjacent tenant within a retail shopping center fronting Highway 281, outparcels include McDonald’s, CareNow Urgent Care, Taco Cabana, and Discount Tire, with H-E-B, Chick-fil-A, Whataburger, Walgreens, and many other national tenants situated in immediate proximity

The U.S. Citizenship and Immigration Service (USCIS) Field Office in San Antonio, Texas, is the anchor tenant in the subject property, a two-tenant, 61,500-square-foot commercial building located within a shopping center that is shadow anchored by Home Depot. The USCIS Field Office occupies 65% of the building in a 40,000 square foot suite, with Planet Fitness occupying 34% of the building in a 20,838 square foot space.

The subject property was redeveloped to suit for USCIS with completion in 2016 and is occupied via an original 15-year, first-generation lease term with the U.S. General Services Administration (GSA), with 8.5 years of lease term currently remaining. This facility is a relocation of the previous USCIS office in San Antonio and received a significant investment from the tenant, with over $5 million in new tenant improvements funded by USCIS. The building is LEED Silver Certified for Commercial Interiors, evidencing a green, energy-efficient, and sustainable design.

The U.S. General Services Administration lease is guaranteed by the full faith and credit of the United States of America, which has a credit rating of Aaa from Moody’s Investor Services and offers unrivaled income security. 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 that typically exceeds 95%.

Planet Fitness is the co-tenant within this facility, with occupancy having commenced in 2015. This is a high-performing location for Planet Fitness, which also benefits from an economical lease rate of only $13.46 per foot. The original lease term with Planet Fitness was for a 10-year period; 2.5 years currently remain, with two 5-year renewal options featuring 10% rent increases at the beginning of each option period. Planet Fitness has over 2,000 locations system-wide and revolutionized the fitness industry with the development of the low-cost/high-value business model.

San Antonio is the 24th largest MSA in the United States, containing an estimated 2021 population exceeding 2.6 million. Shadow anchored by Home Depot as the adjacent tenant within a retail shopping center fronting Highway 281, outparcels to the center include McDonald’s, CareNow Urgent Care, Taco Cabana, and Discount Tire, with H-E-B, Chick-fil-A, Whataburger, Walgreens, and many other national tenants situated in immediate proximity.