ACRE Investment Real Estate Services is pleased to present this 25,609 square foot, two-story office property located at 516 Industry Way in Imperial, California. The building is currently 100% occupied by four government tenants focused on protecting our borders and apprehending drugs and drug smugglers attempting to enter our country.
The current tenants are Customers & Border Protection, Homeland Security, U.S. Federal Attorneys Office, and the Federal Bureau of Investigation. Three of the tenants have 7 years remaining on their leases and the fourth tenant, Customs & Border Protection, has a lease renewal coming up at the end of 2020. Due to the close working relationship these agencies share, it is highly unlikely that Customs & Border Protection will not seek to renew their lease. This will provide the savvy investor with an opportunity to raise the rent on 40% of the building to current market rates.
With only four tenants, this asset provides stability while remaining an ease of management investment. This building was built to suit these special tenants, with upgraded windows, doors, and walls. The parking ratio is excellent at 3.8 spaces per 1,000 square feet. There are 12 indoor and 12 outdoor highly secure spaces as well.
Installing solar panels could potentially lower electricity expenses and result in increased net income. It may also be possible to reduce other ongoing expenses as well.
Located in Imperial, California at the gateway to the Imperial Valley and Mexicali, Mexico