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4/07/08
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11900 Gilbert Street
Garden Grove, CA
New GSA Social Security Administration -- 11,938 sf
Garden Grove Branch Office
Long-Term, U.S. Government-Backed Lease
The tenant, General Services Adminstration, is using this location as a branch office for the Social Security Administration. With a new, 15-year lease with no out clauses for the entire term, along with the SSA's reputation for staying in buildings well beyond the initial lease term, this unique investment opportunity provides a very stable cash flow with minimal management responsibilites.
New, High-Quality Construction
The subject property is a build-to-suit for the General Services Administration. As a result, the building adheres to the Government's strict construction guidelines with high-quality materials and above-standard tenant improvements.
Garden Grove, Orange County
Garden Grove is situated in the heart of Orange County and benefits from the general dynamic economic engines of the market as well as the presence of such attractions as Disneyland, Knott's Berry Farm, Anaheim Convention Center and the Anaheim Stadium complex, as well as its proximity to the well-known beach communities of Newport Beach, Huntington Beach and Balboa Bay.
Outstanding Location
The property is immediately adjacent to the 360,000 sf Garden Grove Promenade Shopping Center, which provides numerous nearby amenities for the building's workers as well as insuring a long-term value as a strong traffic generator to the area. In addition, current plans before the City of Garden Grove call for a new Target store within 500 feet of the property.
Offering Price -- $8,500,000
For more information, please click here, or contact:
Mike Howard
801/303-5448
mhoward@commercecrg.com
Joel Hewson
801/303-5563
jhewson@commercecrg.com
Commerce CRG
An independently owned and operated member of the
Cushman & Wakefield Alliance
175 East 400 South, Suite 700
Salt Lake City, UT 84111
www.commercecrg.com
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