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t r a n s l a t e

Multi-Tenant State Government Leased Office Investment | 9% Cap Rate | ±85,783 SF

U.S.
PRICE : $8,275,000
CAP RATE: 9%
PROPERTY TYPE: Office
SITE SIZE: 0.71 Acres
BUILDING SIZE: 85,783 SF
YEAR BUILT: 1971

Highlights

  • Top three floors, approximately 75% of building are sticky government tenants
  • These state government tenants are rated high credit by Moody’s
  • Ground floor tenants a mix of medical and synergistic retail
  • Priced below replacement costs at $96.46 per SF
  • Full-service leases with some pass throughs
  • Broker of Record: Brian Brockman (Bang Realty – New England, Inc) | CT License # REB.0792373

Description

Opportunity to acquire an 9% cap rate mostly government leased office building. The four-story buildings top 3 floors encompassing approximately 75% of the building are leased by high credit state government tenants. The location of the building one block from a major transit hub is perfect for the essential services provided by the tenants.

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