4319 N Brady St
Davenport, IA 52806

This is a new 15-year lease with 10 years firm and commenced on March 1, 2012. The property is leased through February 28, 2027 to the United States Government and is occupied by the United States Social Security Administration (SSA). The tenant has the option to cancel the lease at any time after February 28, 2022 by giving 90 days’ notice to Landlord. There are no renewal options. Landlord is responsible for all maintenance and repairs on this modified gross lease. Tenant pays additional rent each year for increases to operating expenses by CPI over the base year amount. Tenant also pays taxes in excess of the base year tax amount. The Property is located along the city’s primary north-south commercial thoroughfare, North Brady Street (23,500 VPD), and is directly across the street from the North Park Mall. This 1.07 million square foot mall features Dillard’s, JCPenney, Sears, Von Maur, Barnes & Noble, and Younkers, and is surrounded by numerous retail and restaurant outlots. The North Park Mall serves a trade area that spans a 50-mile radius and includes more than 370,000 residents. Davenport’s trade area encompasses major national retailers including Walmart Supercenter, Sam’s Club, Home Depot, Lowe’s, Menard’s, SuperTarget, Dick’s Sporting Goods, Gander Mountain, Dunham’s Sporting Goods, Best Buy, Kohl’s, OfficeMax, Gordman’s, Michael’s, Petco, American Appliance, Big Kmart, Shoe Carnival, Dollar Tree, Toys R Us, Babies R Us, Maurice’s, Guitar Center, and Jo-Ann Fabrics, among others. The above mentioned retailers are all located within a 3-mile radius. The subject property is centrally located within this vibrant trade area, which assures a stable and growing property value for the owner long into the foreseeable future. The subject building was constructed for office use in 1982 with a renovation / expansion that was completed in early 2012 for the Government Services Administration and specifically the U.S. Social Security Administration. The single-story freestanding building features 11,877 sf of gross building area of which there are 10,827 sf usable, as determined by general GSA standards. The majority of the “usable” square footage is the foyer and public restroom space, which is “usable” to most replacement tenants. The building features high visibility and exposure along Brady Street with primary access into the site located along Brady Street. A Salvation Army is located directly to the south and a Carpetland store is located directly to the north of the property. The site features abundant parking for 65 vehicles. The property consists of 3.67 acres of land. The zoning allows for an additional 18,000 sf of office to be developed. GSA is currently seeking an additional site in Davenport. Adding an additional facility on the vacant land would be ideal, as GSA is already shouldering the cost and could amortize the costs over both buildings. Convenient regional access is provided by a full interchange with I-80, just 2 miles north of the subject property. In addition, full access to I-74 is just 2.5 miles east along US-Route 6. The Brady Street corridor consists primarily of retail development as well as office, multi-family housing, and light industrial, stretching 2 miles north and 2.5 miles south leading directly to the Mississippi River and downtown Davenport.