VA Outpatient Clinic

Tenant

U.S. Department of Veterans Affairs

Location

Sault Ste. Marie, MI

Price

Unstated

CAP Rate

Unstated

NOI

Unstated

Lease Term

9 Years Remaining

Occupancy

100%

Building Size

6,905 SQ FT

Property Type

Office

Year Built

2023 Redevelopment

Lot Size

1.8 Acres

Status

Avaliable

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. GOVERNMENT CREDIT
100% leased to the U.S. Federal Government, guaranteed by the full faith and credit of the United States of America, featuring an Aaa credit rating and unrivaled income security

NEW, FIRST-GENERATION LEASE
First-generation lease with the U.S. Department of Veterans Affairs for a new 10-year firm lease term

2023 CONSTRUCTION
Redevelopment-to-suit completed in 2023; renovation of an existing building shell plus 2,000 square feet of additional new construction, designed and built according to tenant-specific requirements to deliver a state-of-the-art healthcare facility for VA

SIGNIFICANT TENANT INVESTMENT
Veterans Affairs invested significant funds into the facility, with a lump sum Tenant Improvement payment at project completion totaling $1.766 million ($256 per square foot)

VA CLINIC EXPANSION & RELOCATION
The new Sault Saint Marie VA Clinic relocates and expands the existing Veterans Affairs services within this area, providing improved services and facilities for over 1,400 Veteran patients