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U.S. Social Security Admin Field Office 2921 N Valderas St
10,375 SF Office Building Angleton, TX 77515 $2,573,088 ($248/SF) 6.50% Cap Rate
Investment Highlights
- U.S. FEDERAL GOVERNMENT CREDIT- Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security
- 2006 BUILD-TO-SUIT for SSA- Built-to-suit for SSA in 2006 with upgrades in 2022 to the tenant and building improvements
- SURROUNDED BY ESSENTIAL BUSINESSES & SERVICES- Situated with convenient access from the primary arterial of Highway 288 with nearby businesses
- NEW 15-YEAR LEASE TERM- Lease renewal with SSA in 2022 for a new 15-year term, including a rare 13-year firm (non-cancellable) period
- HOUSTON MSA - 5th LARGEST MSA IN UNITED STATES Angleton, Texas is located 43 miles southwest of Houston, the 5th largest MSA in the U.S.
- Base Rent Increase in Lease Year 9
Executive Summary
The new lease with SSA includes a rare 13-year firm (non-cancellable) period, and a base rent increase in Lease Year 9. As part of the lease renewal, upgrades were performed to the tenant and building improvements as specified by SSA. This facility adheres to strict federal construction and security standards, including secure perimeter fencing.
The lease is guaranteed by the full faith and credit of the United States of America, featuring an Aaa rating from Moody’s Investor Services and unrivaled income security. Additionally, the GSA has a long-standing reputation as a tenant with one of the highest possible renewal probabilities in the commercial real estate industry. Historical data published by the GSA regarding their portfolio of over 8,000 leases nationwide reflects a retention rate which typically exceeds 95%.
Angleton, Texas is located 43 miles southwest of Houston, the 5th largest Metropolitan Statistical Area in the United States, with a population exceeding 7.2 million. Angleton SSA is situated with convenient access from the primary arterial of Highway 288, with nearby businesses and services that include Walmart Supercenter, Tractor Supply Co, Kroger, McDonald’s, Best Western, Chili’s Grill & Bar, Whataburger, Angleton Recreation Center, Angleton High School, and Angleton Junior High.
Property Facts
Amenities
- Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Public Administration
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Social Security provides financial protection for the nation’s people, supporting Americans throughout all of life’s journeys. They administer retirement, disability, survivor, and family benefits, and enroll individuals in Medicare. They also provide Social Security Numbers, which are unique identifiers needed to work, handle financial transactions, and determine eligibility for certain government services. Social Security provides retirement income for almost every American worker. They also administer Supplemental Security Income (SSI) to some individuals over a certain age who have limited income and resources. With retirement, disability, and survivors benefits, Social Security is one of the most successful anti-poverty programs in the nation's history. Social Security is committed to helping maintain the basic well-being and protection of the people they serve. They pay benefits to millions of people including retirees, children, widows, and widowers.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Public Administration | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 1313-3000-153 | Improvements Assessment | $768,970 |
| Land Assessment | $618,430 | Total Assessment | $1,387,400 |
PROPERTY TAXES
Presented by
GOVT Real Estate Group
U.S. Social Security Admin Field Office | 2921 N Valderas St
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