Net Leased GSA Property for Sale
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Net Leased GSA Property for Sale

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Net Leased GSA Property for Sale Net Leased GSA Property for Sale Document Transcript

  • NET LEASED INVESTMENT OFFERINGGSA - Federal Bureau of Investigation 1109 Airport Parkway Cheyenne, WY 82001 www.bouldergroup.com
  • TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Ten Year Cash Flow5) Aerial6) Site Plan7) Map8) Tenant Profile9) Demographic Comparison Report10) Location Overview11) Contact Information www.bouldergroup.com
  • CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Boulder Group and should not be made available toany other person or entity without the written consent of The Boulder Group. This Offering Memorandum has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. The Boulder Group has not made any investigation, and makes no warranty orrepresentation. The information contained in this Offering Memorandum has been obtained from sources webelieve to be reliable; however, The Boulder Group has not verified, and will not verify, any of the informationcontained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein. www.bouldergroup.com
  • EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARYThe Boulder Group is pleased to exclusively market for sale a single tenant GSA property fully occupied by the FederalBureau of Investigation (FBI) located in Cheyenne, Wyoming. The 7,804 square foot building was a build-to-suitdevelopment in 2011 for the FBI. The property features a 16 stall secured underground parking garage and a 15 year roofwarranty. The underground parking is only accessible by cleared personnel and is fenced off for further security. Theunderground parking could potentially be converted to office space.The property is located along Airport Parkway adjacent to the Cheyenne Regional Airport. This is a strategic location for theFBI due to the proximity of the Cheyenne airport. The building is located on a forty year land lease with the CheyenneRegional Airport Board. Cheyenne recently passed Proposition 7G which granted $4.8 Million to the Cheyenne AirportBoard to aid in the construction of a new terminal for the Cheyenne Regional Airport. The new $16.4 Million, two-storyterminal expansion will include a 35,000 square foot terminal, a terminal apron with room for four additional aircrafts andover 400 parking spaces. Additionally, the Cheyenne VA Medical Center is in close proximity to the property.The property was a build-to-suit for the FBI with the United States Government guaranteeing the original 15 year lease withexpiration in January 2036. The lease is a modified gross lease with adjusting operating expenses by CPI as well as a baseyear for taxes. The United States Government is rated AA+ (investment grade) by Standard & Poor’s.INVESTMENT HIGHLIGHTS • Lease guaranteed by the Unites States of America • Investment grade rated tenant (Standard & Poor’s: AA+) • Long term lease with 14 years remaining • As of November 2011 the GSA had a renewal probability of 96.9% and an average length of tenancy of 32.3 years according to GSA Rollover data • Recent build-to-suit construction for the FBI • 15 year roof warranty • Adjacent to the Cheyenne Regional Airport, which is currently undergoing a $16.4 million expansion www.bouldergroup.com
  • PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $3,844,179Cap Rate: 7.25%Net Operating Income: $279,017Renewal Options: NoneLease Commencement Date: February 1, 2011Lease Expiration Date: January 31, 20261Tenant: GSA – Federal Bureau of InvestigationCredit Rating: AA+ (Standard and Poor’s)Year Built 2011Lease Type: Modified Gross Leasehold2Rentable Square Feet: 7,804Land Size: 1.62 Acres(1)GSA has the right to terminate the lease beginning February 1, 2021 by providing sixty days written notice.(2)The property is subject to a forty year ground lease to the Cheyenne Regional Airport Board. www.bouldergroup.com
  • TEN YEAR CASH FLOW NET LEASED INVESTMENT OFFERINGTEN YEAR CASH FLOW www.bouldergroup.com
  • AERIALNET LEASED INVESTMENT OFFERING AERIALwww.bouldergroup.com
  • SITE PLANNET LEASED INVESTMENT OFFERING SITE PLANwww.bouldergroup.com
  • MAPNET LEASED INVESTMENT OFFERING MAPwww.bouldergroup.com
  • TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILEThe General Services Administration (GSA) is an independent agency of the United States government, established in1949 to help manage and support the basic functioning of federal agencies. The GSA supplies products andcommunications for U.S. government offices, provides transportation and office space to federal employees, anddevelops government-wide cost-minimizing policies, and other management tasks. The GSA’s mission is to useexpertise to provide innovative solutions for our customers in support of their missions and by so doing foster aneffective, sustainable, and transparent government for the American people. GSA oversees the business of the U.S.federal government. GSA’s acquisition solutions supplies federal purchasers with cost-effective high-quality productsand services from commercial vendors.GSA employs about 12,000 federal workers and has an annual operating budget of roughly $26.3 billion,approximately 1% of which is appropriated from taxpayer dollars. GSA oversees $66 billion of procurement annually.It contributes to the management of about $500 billion in U.S. The GSA owns and leases over 354 million squarefeet of space in 8,300 buildings in more than 2,200 communities nationwide.The Federal Bureau of Investigation (FBI) is agency of the United States Department of Justice that serves as afederal criminal investigative unit and an internal intelligence agency. The FBI has a total annual budget of $7.9Billion. The mission of the FBI is to protect and defend the United States and to provide leadership and criminaljustice services to federal, state, municipal and international agencies and partners.Tenant: Federal Bureau of InvestigationWebsite: www.fbi.gov (FBI)Guarantor: United States of AmericaStandard & Poor’s Rating: AA+Employees: 35,664Annual Budget: $7.9 Billion www.bouldergroup.com
  • DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORTPopulation 3-mi. 5-mi 10- 10-miTotal Population 57,080 76,742 81,863Total Households 23,527 30,647 32,488IncomeMedian Household Income $50,107 $51,363 $52,023Average Household Income $59,722 $60,838 $61,595 www.bouldergroup.com
  • LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEWCheyenne is the capital and most populous city in Wyoming and is the county seat ofLaramie County. At the time of the 2010 U.S. Census, Cheyenne had a population of59,466. The largest employers in Cheyenne include the F.E. Warren Air Force Base, theWyoming National Guard, Cheyenne Regional Medical Center, Burlington NorthernSanta Fe railroad, Union Pacific railroad and Lowe’s and Wal-Mart, which each operatedistribution centers in the city.Cheyenne is home to the F.E. Warren Air Force base, which is one of the three strategicmissile bases in the United States. The Air Force base has been in Cheyenne since1867, making the base the oldest active military installation within the Air Force. Thebase is a designated place by the U.S. Census and is home to over 3,000 residents.www.cheyenne.org www.bouldergroup.com
  • CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003 847.562.8500rblank@bouldergroup.com jimmy@bouldergroup.com www.bouldergroup.com