Colliers Government Solutions Capital Markets, as exclusive representative for Owner, is pleased to present the opportunity to acquire The Union Trust Building, a historically redeveloped, 7 story, 41,043 SF office building in downtown Parkersburg, West Virginia. The asset is 75.2% leased to the United States of America for multiple federal operations including the Social Security Administration, Internal Revenue Service and Department of Labor with a weighted average lease term of 12 years.
In addition to the U.S. Federal Government anchor tenancy, The Union Trust Building presents investors the opportunity to create significant value through the lease up of 10,161 SF, including the entire top floor with panoramic views of downtown Parkersburg and the Ohio River. The combination of in-place credit backed cash flow and material upside opportunity is highly unique and desirable.
Parkersburg, WV, the states 3rd largest city, is the regional hub of operations for private and public sector operations along the Ohio Valley. The market includes major operations for the U.S. Treasury (500,000+ SF), Camden Clark Medical System and DuPont along with WV University Parkersburg and the State of West Virginia. Parkersburg is the main employment center for the 160,000 person MSA covering a portion of West Virginia and Ohio.
Federal Government Hub
Cash Flow Stability with Value Creation Opportunitiy
Upside Concentrated in Top Floor Availability
Premier Class A Office Building in Multi-State MSA
- Property Type
Office
- Year Built
1903
- Total Building Size
60,000RSF
- Total Acres
0.94
- Building Class
A
- Property ID
1728730
