- Details
- Investment Highlights
- Description
Tenant
U.S. Department of Agriculture
Location
Atlanta MSA | Newnan, GA
Price
Unstated
CAP Rate
Unstated
Lease Term
Original 20-Year Firm Term | 7.5 Years Remaining
Occupancy
100%
Building Size
121,163 SQ FT | 8 Building Campus
Property Type
Unstated
Year Built
2009 Build-to-Suit
Lot Size
17 Acres
Status
Sold
Property Contacts:
U.S. FEDERAL GOVERNMENT CREDIT
Lease guaranteed by the full faith and credit of the United States of America, featuring an Aaa credit rating and unrivaled income security
LONG-TERM FIRM LEASE
20-year firm lease term with approximately 7.5 years remaining
ONE-OF-ONE, ESSENTIAL NATIONAL FACILITY
National Detector Dog Training Center for USDA-APHIS is the only facility of its kind in the United States and performs a mission-critical function as a frontline defense to the agricultural industry; responsible for training of canines in service at national airports throughout the United States for use by USDA and Customs & Border Protection
BUILD-TO-SUIT CONSTRUCTION, LEED GOLD CERTIFICATION
Highly specialized campus facility consisting of eight buildings, built-to-suit in 2009, with LEED Gold certification
REDUCED LANDLORD RESPONSIBILITIES
Unique federal lease structure, with tenant responsible for majority of operating expenses
ATLANTA MSA LOCATION
Located within Atlanta MSA, the 9th largest metro area within the United States
The USDA National Detector Dog Training Center is a highly unique campus that is the only facility of its kind in the United States, serving an essential function in the housing and training of canines to service national airports throughout the United States for use by the U.S. Department of Agriculture, Animal and Plant Inspection Service (APHIS) and U.S. Customs and Border Protection (CBP).
Built-to-suit for USDA in 2009, and certified to LEED Gold standards, this asset is leased for an original 20-year firm term with USDA, with approximately 7.5 years remaining. The lease is an exceptionally rare federal structure, with the tenant responsible for electricity, water, sewer, trash removal, janitorial services & supplies, pest control, lawn maintenance, maintaining equipment of government-provided and appliances, and security system monitoring. The 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 National Detector Dog Training Center (NDDTC) consists of eight specialized buildings which serve critical purposes unique to the canine training process. Throughout the term of the lease, USDA has continued to expand and add improvements to the NDDTC, evidencing their ongoing financial and operational commitment to the facility. Improvements include an Administration and Training Building, Training Area, Quarantine Building, Veterinarian Building, Kennel Building, and Warehouse Building. Due to the unique nature of this campus, the size of the facilities are dictated by capacity for canines rather than typical federal metrics of rentable square foot per person, which makes this asset less susceptible to footprint reductions.
Detector Dogs are an essential tool that have been utilized since the 1940s by USDA-APHIS and CBP to safeguard America’s agriculture and natural resources from harmful pests and diseases, working at airport terminals, and warehouses, seaports, mail facilities, and in the field. Expert APHIS teams train detector dogs at the NDDTC to search international passenger baggage, cargo, and parcels for prohibited agricultural product at major U.S. Ports of Entry, both airports and land border crossings. Trained detector dogs also search cargo facilities and postal distribution centers to identify mailed items that might include prohibited items, including invasive species.