U.S. Social Security Admin Field Office
10,375 SF | Office Building | Angleton, TX 77515 | $2,573,088 ($248/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,573,088
- Property Type
-
Office
- Square Feet
- 10,375 SF
- Price / Square Foot
- $248
Listing Contacts
Travis Trautvetter
Verified Profile
Kari Fiske
Verified Profile
- Property Info
Property Overview
The U.S. Social Security Administration (SSA) branch office located in the Houston MSA of Angleton, Texas is a single-tenant U.S. Federal Government facility that was built-to-suit for SSA in 2006, featuring a long-term renewal in 2022 for a new 15-year lease term. The building consists of 10,375 square feet, situated on an oversized parcel of 2.4+ acres of land.
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.
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 Details
- Class
- B
- Year Built/Renovated
- 2006/2022
- Stories
- 1
- Lot Size (sq. ft)
- 105,851 SF
Highlights
- U.S. FEDERAL GOVERNMENT CREDIT- Lease guaranteed by U.S. Federal Government, featuring an Aaa credit rating and unrivaled income security
- 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
- 2006 BUILD-TO-SUIT for SSA- Built-to-suit for SSA in 2006 with upgrades in 2022 to the tenant and building improvements
- 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.
- SURROUNDED BY ESSENTIAL BUSINESSES & SERVICES- Situated with convenient access from the primary arterial of Highway 288 with nearby businesses
- Base Rent Increase in Lease Year 9
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