GSA/Immigration & Customs Enforcement (Multi-Tenant)

799 Tech Center Drive, Building A - Durango CO 81302

LTV (Loan to Value)	65.00%	Current NOI	$143,184.00
Interest Rate	4.250%	Capital Rate	7.280%
Fixed Term	10 Years	Land Area	0.59 Acres
Amortization	25 Years	Lease Type	Gross
Loan Amount	$1,365,000.00	Property Type	Public/Government
Payment	$7,394.73	Property Lease	Multi-Tenant
Bulding Size	12,919 SF	Remaining Terms	More than 6 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in 799 Tech Center Drive, Building A, located in Durango, La Plata County, Colorado (the “Property”). The Property consists of a 76% leased, multi-tenant two-story 12,919 net rentable square foot office/light industrial building constructed in 2002. This property's primary tenant occupying 56% of total building square footage is the U.S. Government, with its facilities retrofitted for use by the U.S. Immigration and Custom Enforcement in June, 2011. The GSA paid for very significant tenant improvements in the first five years of its ten (10) year lease term (five years firm/five years non-firm), creating a very high probability of continued occupancy during the second five year, non-firm term. The other first floor tenant, San Juan Water Works, Inc., has been in the building since early 2007. The remaining vacant space, located on the building's second level, is 3,100 square feet of all-office buildout in good condition.

Highlights

GSA Tenant – 56% of square footage is from the GSA on a lease that runs through 6/07/2021. This portion…

Property Description

The City of Durango is a Home Rule Municipality that is the county seat and the most populous city of La Plata County, Colorado. The United States Census Bureau reported a population of 16,887 in the 2010 census.Durango is nestled in the Animas River Valley surrounded by the San Juan Mountains. The Animas River runs through downtown and boasts gold medal fly fishing waters, and is popular for whitewater rafting, kayaking and canoeing. Durango is also popular for outdoor activities like hiking, mountain biking, road biking, backpacking, rock climbing, hunting, off-roading, year-round fishing, kayaking and golfing.Durango is near five major ski areas, including Purgatory at Durango Mountain Resort, located twenty-five minutes north of downtown. Located thirty-five miles west of Durango is Mesa Verde National Park, a UNESCO World Heritage Site known for its Ancestral Puebloan Cliff Dwellings.