The Ficke Team of Colliers International is pleased to present this exclusive investment opportunity for the Social Security Administration (SSA) office located at 1005 Factory Outlet Blvd., West Frankfort, IL 62896. This single-tenant property consists of a 6,527 rentable square-foot office building that was developed in 2000 as a build-to-suit for the SSA that includes 38 parking spaces on 1.21 acres. The property is encumbered by the original 20-year gross lease, that was recently extended for two-years firm term and one-year soft term to expire on March 22, 2023 by the General Services Administration (GSA). This is an excellent opportunity for an investor to negotiate a new long-term lease, as the GSA lease provides investors stable returns guaranteed by the US Government.
This is a high-traffic facility, located just west of Interstate I-57, with the closest SSA being over 28 miles from this location. This building is well maintained with a new roof and LED lights installed throughout (interior and exterior) in 2020. There is also a new hot water heater and computer room HVAC unit installed in 2019. The main HVAC unit is about five-years.
United States Government Lease (AA+)
Build-to-Suit Facility for the GSA/SSA in 2000
New roof in 2020
New LED lights installed throughout in 2020
New Hot water heater installed in 2019
New computer room HVAC unit installed in 2019
High Probability for Lease Renewal for this high-traffic facility
Well-maintained masonry facility
Great location just West of Interstate I-57
Attractive 9.56% cash-on-cash yield
- Property Type
Office
- Year Built
2000
- Total Acres
0.15
- Property ID
2174998
