2401-2405 South Wilcox Drive, Kingsport, TN 37660

Colliers International and The Ficke Team are pleased to present investors with the opportunity to acquire a single-tenant office located at 2401-2405 South Wilcox Drive Kingsport, TN 37660. The property is 100% occupied by the Social Security Administration (SSA) with the General Services Administration (GSA) administering the newly executed 10 year lease which is backed by the full faith and credit (AA+ S&P Rated) of the United States Federal Government. This ecommerce-resistant investment provides secure cash-flow with risk adjusted yields that provides investors with a secure investment over the remaining 8 years of current lease term. With GSA tenants averaging over 30+ years occupancies, investors will be able to realize additional upside through escalating operating expense rent reimbursements adjusting with Consumer Price Index (CPI) increases in addition to an increase in the shell-rent effective May 18th, 2023.

The subject property serves as a field office for the Social Security Administration which administers and oversees the application process for Disability, Retirement, and Medicaid benefits in addition to fielding application forms, filing appeals, and Medicare prescription drug benefit assistance services. The Social Security Administration is headquartered in Woodlawn, Maryland and includes 10 regional offices, 8 processing centers, approximately 1,300 field offices, and 37 Teleservice Centers. As of 2018, about 60,000 people were employed by SSA. Social Security is the largest social welfare program in the United States.

Kingsport is a city in Sullivan and Hawkins counties in Tennessee and is commonly included in what is known as the Mountain Empire, which spans a portion of southwest Virginia and the mountainous counties in northeastern Tennessee. Kingsport is centrally located along the Interstate 81 and Interstate 26 corridors, within a day’s drive of over 70% of the U.S. population. Home and global headquarters to specialty chemical manufacturer and Fortune 500 company, Eastman (NYSE: EMN), Kingsport is an ideal environment for business with no state income taxes with a growing population of 54,000 within Kingsport surrounded by the Tri-Cities surrounding market of 509,355 (https://movetokingsport.com/about/facts-and-stats/).

22,848 SF Rentable Built Area
2.33 Acres
100% Occupancy
Built in 1999