- Details
- Investment Highlights
- Description
Tenant
U.S. Department of Veterans Affairs
Location
Confidential, U.S.
Price
Unstated
CAP Rate
Unstated
NOI
Unstated
Lease Term
20 Years
Occupancy
100%
Building Size
25,080 SQ FT
Property Type
Medical Office
Year Built
2024
Lot Size
3.11 Acres
Status
Available
Property Contacts:
100% LEASED TO THE U.S. FEDERAL GOVERNMENT
Single-tenant facility leased to 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
NEW 20-YEAR LEASE TERM
First-generation lease with U.S. Department of Veterans Affairs commenced in April 2024 for a new 20-year term expiring in April 2044, providing the maximum allowable lease term per federal contracting regulations
2024 BUILD-TO-SUIT CONSTRUCTION
New construction, designed and built-to-suit for VA with completion in 2024; state-of-the-art healthcare facility delivering coordinated patient care services via the VA’s Patient Aligned Care Team (PACT) model
$7.5 MILLION IN TENANT-FUNDED IMPROVEMENTS ($300/SQ FT)
Tenant-funded improvements in excess of $7.5 million ($300 per square foot) evidences the significant investment in this location by VA and creates an attractive asset basis that is well below both current and future replacement costs
EXPANSION & RELOCATION OF VA SERVICES
The new VA Outpatient Clinic provides expanded and relocated services for local Veterans; the subject property is a single-tenant clinic in excess of 25,000 square feet, and replaces the prior clinic in the area which was comprised of approximately 9,500 square feet and housed within a multi-tenant building
EXCELLENT LOCATION LARGE U.S. METRO AREA
The new VA Outpatient Clinic is positioned with immediate proximity to a primary intersection containing major national tenants that include Walmart Supercenter, Lowe’s Home Improvement, Chick-Fil-A, Kohl’s, Wells Fargo, Five Guys, Panera, and efficient access to Interstate 80 and Highways 370, 275, and 75