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INVESTMENT HIGHLIGHTS
TOP TIER CREDIT The Government of the State of Georgia carries an investment-grade credit rating by all major rating agencies, including an AAA rating with a stable outlook from S&P. With a GDP of $776B, if Georgia were a stand-alone country, it would be the 21st largest economy in the world.
BRAND NEW LONG-TERM LEASE WITH PREFERRED ESCALATIONS After a thorough RFP process, DCS entered into a fifteen (15) year full service lease with 2.00% annual escalations to base rent.
RELOCATION AND EXPANSION The Property was gutted down to the shell and renovated to the requested spec of the Department of Community Supervision, allowing the Clayton County and Henry County DCS offices to combine their operations at this location.
RECENT & MID-TERM CAPITAL IMPROVEMENTS The building just underwent a full renovation, including a new roof (17 years of warranty), all new HVAC system (5 package units on the roof), and an upcoming reseal/re-stripe of the parking lot. The lease also requires the landlord to provide a refurbishment allowance of $15/sf ($218,685) after the 90th month (7.5yrs) of the lease. Tenant may use any unused portion of the allowance as a rent credit as of the 102nd month following the commencement date.
MISSION-CRITICAL LOCATION The Property is one of 55 Department of Community Supervision field offices serving the state of Georgia. With the subject property housing the operations for both Clayton county and Henry county, the office serves a population of 545,000 people.
LIKELIHOOD OF RENEWAL Government Tenants have a market-leading retention rate of their first-generation leases and generally are long-term occupants of their properties.
Exclusively Listed by the Northmarq National Healthcare Group
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