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  Property Downloads: Confidentiality Agreement | Property Flyer
 
GSA ODAR/SOCIAL SECURITY ADMINISTRATION
135 Circle Lane, Knoxville, TN - New Construction Totaling 25,508 SF
 
offering
 

Colliers International is pleased to present the opportunity to purchase a newly constructed office building leased by the General Services Administration, located in Knoxville, Tennessee. The Social Security Administration’s Office of Disability Adjudication and Review (ODAR) is located at 135 Circle Lane in the city of Knoxville, Knox County, Tennessee. The property is located adjacent to Interstate 40/75 with unmatched highway visibility, and in close proximity to residential areas and a wide variety of amenities - making this property an outstanding long-term real estate location.

Projected to be completed in July 2011, the two-story office building contains 25,508 rentable square feet and 102 parking spaces on a 5 acre site. The lease is for 15 years, with no ability to terminate for the first 10 years.

Asking Price: $6,850,000 (7.5% Cap Rate)

investment highlights
  • Security of the Federal Government: The strength of the GSA tenancy provides security of rent payment and high probability of long-term occupancy. Based on statistics provided by the GSA, since 2001 the average length of occupancy in the same leased building is over 25 years, with an average annual renewal rate of 96%.
  • Infrequency of Early Lease Termination: Based on statistics provided by the GSA, from 2001 through 2010, the GSA exercised the right to terminate early at a rate of only 1.73% each year.
  • Well Built, New Construction: Quality Type IIB non-combustible construction with conventional steel system of beams and bar joists and concrete foundations, built by an experienced GSA build-to-suit developer currently developing multiple ODAR locations.
  • LEED/Energy Star: The building is being constructed to LEED Silver certification and an Energy Star rating of 75.
  energy star Leed  
more info
  Robert C. Cottle, CCIM
Vice President
dir: +1 404 877 9257
bob.cottle@colliers.com
W. Colin Cavill, AVLE (Econ)
Sr. Vice President | Principal
dir: +1 404 877 9263
colin.cavill@colliers.com
Darrin Kennedy, LEED AP
Executive Managing Director
dir: +1 213 861 3323
darrin.kennedy@colliers.com
Paul Moore, CCIM
Director
dir: +1 213 861 3324
paul.moore@colliers.com