Property Details
State of Tennessee - Department of Human Services
Colliers International is pleased to present this exclusive investment opportunity to acquire the State of Tennessee Department of Human Services located at 601 5th Street, Jellico, Tennessee. This office building is comprised of 3,600 square feet and sits on 0.57 acres and includes 28 parking spaces. The property is encumbered by a new seven (7)-year lease to the State of Tennessee Department of Human Services (TDHS) with three (3)-one (1) year options. The TDHS is a long-term tenant in this building since it was developed in 2006. Improvements as part of this lease renewal include an access mechanism for the State’s access control group to automatically lock and unlock the file room, new transaction windows, new lobby area paint, and new signage on the front glass doors and on the building. In addition, ownership is replacing the roof. This opportunity provides an investor with stable cash flow from a strong credit tenant, as the State of Tennessee enjoys a AAA S&P credit rating.
New 7-Year lease with 3-1-Year Options effective March 1, 2021
Build-to-suit for the DHS in 2006
Parking lot includes 28 parking spaces
Lease guaranteed by the State of Tennessee (AAA S&P Credit Rating)
Modified Gross Lease Structure, as the State of Tennessee pays direct for Utilities, Janitorial Service and Supplies
Mission Critical Agency Responsible for Family Assistance and Child Support Services, Rehabilitation Services, and Community and Social Services
Tennessee is a No Income Tax state
- Property TypeOffice
- Year Built2006
- Total Acres0.08
- Number of Floors1
- Property ID2179537