Colliers International is pleased to present an investment opportunity, 26452 East Lynn Road, Wayne, West Virginia.
Developed in 1976 and substantially renovated in 1980, 2013, 2016, and 2019, this single-tenant office building is 100% leased to the State of West Virginia Department of Health and Human Resources (DHHR). Due to the wide range of necessary and life-saving services to many West Virginia residents, the DHHR needed to increase their staff in 2016, resulting in the agency adding a 5,000 square foot addition. The agency is currently supported by a staff of 65 employees working full time from this facility. This well-maintained masonry building includes a large parking lot with 82 parking spaces.
The interior comprises custom renovations to the tenant’s specifications that includes 18 cell parabolic lights throughout, marble windowsills, server room, conference room, employee lounge, and storage area. The current lease for this long-term tenant expires September 30, 2023. The tenant is responsible for utilities, snow and ice removal, janitorial services and supplies, and garbage removal. The lease is guaranteed by the State of West Virginia that enjoys an Aa2 Moody’s credit rating.
State of West Virginia Guaranteed Lease (Aa2 Moody’s Credit Rating)
Critical Mission Agency
65 DHHR Employees Provide Needed Services from this Facility
Long-term tenant since 1976
Custom Tenant Improvement Specifications
Well-Maintained Masonry Building
Tenant Responsible for Utilities, Snow/Ice Removal, Janitorial Services and Supplies, and Garbage Removal
Attractive 14.50% Leveraged Return
