Single-Tenant | 8% Cap Rate | 14-Year Lease | State of Georgia - AAA Credit
$20,250,000
761 Wheaton Street, Savannah, GA 31401
110,445 sqft
Building Size
6.49 acres
Lot Area
Details:
Description:
Opportunity to acquire a beautiful 5-story ±110,445 SF building on ±6.49 acres in Savannah on a 14-year leased to the State of Georgia. The property was developed for The Georgia Department of Children and Family Services in 2004 on a 15-year lease. In 2019, the lease was renewed for 20 years and has 14 years remaining. The tenant may stay much longer than 14 years as they enjoy below market rent from a property tax exemption structure at this property.
The Georgia Division of Family and Children Services, (DFCS) provides imperative support services and programs for citizens of Savannah and Chatham County. DFCS services include ensuring the safety of children, finding foster and adoptive homes for children in need, and helping out-of-work parents get back on their feet. They also issue SNAP, Medicaid, and TNAF assistance programs.
The impressive building is well located on ±6.49 acres in the path of progress in Savannah, Georgia. Savannah is a high growth metro area with strong economic fundamentals, thriving tourism and continued population expansion.
This property is located in Savannah, GA.
Documents:
| Title | ||
|---|---|---|
| Offering_Memorandum_761_Wheaton_new_compressed.pdf |
Location
Gallery
