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Views: 208 DOM: 64 Updated: 06.29.24 Posted: 05.09.24 Status: Active

Summary

Price $3,090,000
Built/Renov 2024
Tenant Social Security Administration
Cap Rate 8.75%
Lease Type Modified Gross
Guarantor Corp Rated
Size/SF 9,331
Lease Start 07-27-2003
#Units 1,318
Price/SF $331.15
Expiration 06-27-2028
Tenant Type Government
NOI $270,412
R. Term 3.11
Ownership Fee Simple
Rent/SF $28.98
Increases 0.0%/0/yrs
Pop 5Mi 230,246
Lot/AC 1.14
Options 0/0yrs
AHHI 5Mi $101,777

Lease Highlights

  • Social Security Administration has been operating in this location since 2003
  • 4 years remaining on the current lease term
  • GSA reimburses landlord annual real estate tax rent in addition to the difference between the actual taxes and the tax base
  • Lease guaranteed with the full faith and credit of the U.S. Government (S&P: AA+)

Location Description

Social Security Administration is strategically located on South Roberts Road. This single-tenant property consists of 9,331 rentable square feet developed in 2004 as a build-to-suit for GSA/SSA that includes 60 parking spaces and sits on 1.14 acres. The 5-mile trade area is supported by a population of 230,246 residents with an average household income of $101,777. Palos Hills, located in...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Social Security Administration
  • Guarantor:Corp Rated
  • Company:U.S. Federal Government
  • # Units:1,318
  • Tenant S&P: AA+
  • Moody’s: Aaa
  • Stock:Private

About Tenant

The United States Social Security Administration (SSA) is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of...


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Listing Broker

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