8223 Express Dr
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8223 Express Dr
8,000 SF Office Building Marion, IL 62959 $1,025,000 ($128/SF) 8.65% Cap Rate
Investment Highlights
- Backed by the full faith of the U.S. Government (AA+, S&P Credit Rating)
- Build-to-Suit in 2013
- Well-Maintained Masonry Building
- First Generation Lease – 5-Years Renewal Option Exercised by the GSA
- Mission Critical Facility Located on the Williamson County Airport Business Park
- Long-Term Leasehold
Executive Summary
The Ficke Team of Colliers is pleased to present to qualified investors The U.S. Department Mine Safety and Health Administration (MSHA) building located at 8223 Express Drive in Marion, Illinois. This 8,000-square foot building was developed in 2013 and is situated on 1.274 acres of land. The GSA executed the 5-year renewal option on this first-generation lease with four-years firm term, and one-year soft term, expiring on May 15, 2028, demonstrating their commitment to this location. Inspectors in this Marion Field Office prepare, conduct, and report onsite safety and health inspections and investigations of surface and underground mining operations. They also prepare equipment and instruments needed for inspections and investigations from this building, which has a special equipment room for this purpose.
The MSHA property is part of the Williamson County Airport Business Park, which is part of the Veterans Airport of Southern IL. The property is being conveyed with a forty-five and one half year ground-lease with the Williamson County Airport, through November 5, 2029 with four-10-year renewal options. Veterans Airport is the region’s sole primary commercial service airport. The airport promotes the business park that combined with other businesses located on the airport property, generates an annual economic impact of over
$21 million to the area.
Marion is one of the fastest growing cities in Southern Illinois. Marion is a city in both Williamson and Johnson Counties and is the county seat for Williamson County. Marion serves as the largest retail trade center in Southern Illinois with its central location along Interstate 57 and Illinois Route 13. This ideal location serves as the center for shopping, dining, and entertainment in Southern Illinois. With access to Interstate 24 just to the south, Marion is a point of access to major cities like Chicago, Nashville, and St. Louis.
The MSHA property is part of the Williamson County Airport Business Park, which is part of the Veterans Airport of Southern IL. The property is being conveyed with a forty-five and one half year ground-lease with the Williamson County Airport, through November 5, 2029 with four-10-year renewal options. Veterans Airport is the region’s sole primary commercial service airport. The airport promotes the business park that combined with other businesses located on the airport property, generates an annual economic impact of over
$21 million to the area.
Marion is one of the fastest growing cities in Southern Illinois. Marion is a city in both Williamson and Johnson Counties and is the county seat for Williamson County. Marion serves as the largest retail trade center in Southern Illinois with its central location along Interstate 57 and Illinois Route 13. This ideal location serves as the center for shopping, dining, and entertainment in Southern Illinois. With access to Interstate 24 just to the south, Marion is a point of access to major cities like Chicago, Nashville, and St. Louis.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
8,000 SF
Building Class
B
Year Built
2013
Price
$1,025,000
Price Per SF
$128
Cap Rate
8.65%
NOI
$88,666
Tenancy
Single
Building Height
1 Story
Typical Floor Size
8,000 SF
Building FAR
0.14
Lot Size
1.27 AC
Zoning
Commercial
Parking
59 Spaces (7.37 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
Parcel Number | 06-08-451-005 | Improvements Assessment | $299,350 |
Land Assessment | $33,690 | Total Assessment | $333,040 |
PROPERTY TAXES
Parcel Number
06-08-451-005
Land Assessment
$33,690
Improvements Assessment
$299,350
Total Assessment
$333,040
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8223 Express Dr
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