Listing Summary
Excellent Single-Tenant Investment Opportunity.
Long-Term Lease Extension: The tenant recently extended their lease for an additional five years, bringing the remaining term to eight years
Full Description
Excellent Single-Tenant Investment Opportunity
Long-Term Lease Extension: The tenant recently extended their lease for an additional five years, bringing the remaining term to eight years
Attractive Annual Rent Increases: The lease includes a 3% annual rent escalation, enhancing investment returns
Established Tenant: iHeartRadio has successfully operated at this location for over 15 years
Competitive Pricing: The property is priced significantly below replacement cost at $143 PSF
Below Market Rent: Current rent is $14.19 PSF, well below the market rate of $20 PSF
Prime Location in the Southeast
Strategic Market: Columbus is the third-largest city in Georgia and a vital economic hub, home to Ft. Moore, America’s 3rd largest Military base in the USA
Major Employers: The area is home to some of the region’s largest employers, including:
Fort Moore Military Base (45,320 employees)
Piedmont Health (3,080 employees)
Kia Motors (2,700 employees)
Anthem Blue Cross (1,650 employees)
Low Office Vacancy: The office vacancy rate is approximately 5%, significantly lower than the national average
Ongoing Developments:
Golden Park Expansion: A $50 million multi-use development featuring retail, multifamily, hotels, and office located just 2.8 miles from the property.
Pratt & Whitney Aerospace Expansion: A $206 million expansion, expected to create 400 new jobs.
Quick Glance
- Listing ID:
CL-Georgia-12474
- Status:
Active
- Year Build:
1983
- Building Size:
11,835 SqFt
- Lot Size:
65,340.00 Acre