HIGH CAP RATE AUCTION SALE

Six building Office Complex totaling ±61,128 SF situated on 6.77 acres in Macon, GA. Strong cash flowing property with diverse tenant mix including GSA lease, T-12 NOI = $359,931. Approximately ±49.02% occupied, providing huge value-add potential.

GSA – Social Security Administration

Marcus & Millichap is pleased to present this fee simple ownership interest in 230 West Lake Street in Bloomingdale, Illinois. The subject property is occupied by the General Service Administration (GSA). General Service Administration (GSA) operates under a full service gross lease and is guaranteed by the United States of America, which has a credit rating of Aaa from Moody’s Investor Services. The Social Security Administration lease commences April 1, of 2020. GSA has shown long-term commitment to the site, with one of the highest possible renewal probabilities in the commercial real estate industry.

The facility was a built-to-suit for SSA in 1997 and is designed and developed according to the strict standards and specific requirements of the U.S. Federal Government. The subject property is comprised of 10,844-square feet, with 4,000-square feet of potential building area to the west for future development. The potential expansion area has dimensions of 129’6’’ wide and can be expanded a little more than 30’ out per the original site plan. This would give an additional 4,000-square feet of office space. Capital improvements were made to the light fixtures, new roof, flooring, paint, parking lot and upgrades to security and electrical systems.
This location benefits from excellent accessibility, with immediate proximity to Interstate 355 and Interstate 290. Nearby national tenants include Walgreens, Starbucks, Dunkin’, McDonald’s, and Chase Bank.
An investor has the opportunity to acquire a federal government leased building with 10-years of lease term remaining.

Cal Twin Towers

The Cal Twin Towers is a ±151,829 rentable square feet Bakersfield Landmark Class A Office Building. Originally built in 1984 for Continental Telephone as part of the historic Tenneco Land redevelopment expanding the west portion of Bakersfield which has become the main financial corridor commonly referred to as the “California Corridor.” Cal Twin Towers is a Class A office building offering convenient access to retail shopping, restaurants, hotels, financial services, as well as easy access to all of Bakersfield since its located close to Highway 99, Highway 58, the Westside Parkway, and the Centennial Corridor Freeway (Under Construction). Cal Twin Towers also provides Tenants panoramic views of southwest Bakersfield as well as having on-site Property Management & engineering services. The property also has free surface parking and extensive covered parking. As one of the most energy efficient office buildings in Bakersfield, Cal Twin Towers is fully retrofitted with LED lighting and digital HVAC controls. In addition, a carport mounted solar PV system (separately owned) provides electricity cost savings.