6525 Columbia Ave

Marcus & Millichap is pleased to offer the subject property for sale featuring the Division of Family Resources, State of Indiana, as the tenant, an investment grade opportunity.
Tenant recently entered into a 10-year lease which included major renovations to the property for the tenant's specific desires. Renovations included completely gutting the interior of the building down to the structure and installing new electrical wiring, plumbing, ductwork, interior walls, ceiling tile, trim work, flooring, etc. In addition the roof was replaced and there is a transferable roof warranty until 2036.
The full-service lease is backed by the State of Indiana, which is an investment grade caliber guarantee.
The lease has expense caps protecting the Landlord from downside risk on unforeseen expenses. In addition, the site has received property tax exemption status further reducing additional risk to the Landlord. The lease also states that the tenant is responsible for reimbursing for all property taxes, in the unlikely event that the tax exemption status should be removed.
While the tenant does have termination clauses tied to annual budgeting, the essential nature of the services provided at this facility make it very unlikely that the would not continue for the long term.
The Division of Family Resources is responsible for establishing eligibility for Medicaid, Supplemental Nutrition Assistance Program and Temporary Assistance for Needy Families benefits. The division also managers the timely delivery of SNAP and TANF benefits.
DFR also provides employment and training services to some SNAP and TNF recipients. The division's overarching focus is the support and preservation of families by emphasizing self-sufficiency and personal responsibility.