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960 W Mission Boulevard - Social Security Administration, Pomona, CA

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960 W Mission Boulevard - Social Security Administration

SEC Mission Blvd & Huntington St
Pomona, CA 91766 - Eastern SGV Submarket

Property Type:Office Sub Type:- Status:Existing Year Built:2006
Stories:1 Typical Floor:10,338 SF Building Size:10,338 SF
For Sale Price:$5,100,000 Price/SF:$493.33
Cap Rate:7.80 %
Parking:Free Surface spaces are available; Ratio of 6.5/1,000 SF Amenities:24 Hour Availability, Bus Line, Signage

The Pomona SSA Building is a 10,388 square foot office property that is 100% occupied by the Social Security Administration (SSA). The lease is for an original term of 15 years, with 13 years currently remaining. The lease is guaranteed by the highest graded tenant available, the U.S. Government, with an AAA credit rating by Standard & Poor's. The lease has an 11% rent increase in 3 years, bringing the cap rate to 7.30%. A rent increase of this nature is extremely rare for a U.S. Government lease. There is another rent increase in 8 years, by an additional 3%. This was a build-to-suit development for the SSA in 2006. The improvements are situated on a large lot over 1 acre, allowing for future expansion capability.

Sale Notes:
Property is currently 100% leased to United States of America, GSA, Public Buildings Service: Social Security Administration (SSA). This opportunity was built exclusively for the Social Security Administration. The General Services Administration has indicated a willingness to stay and extend leases. A new Owner will enjoy stable and increasing cash flow through 2021.

Brandon Bank
(213) 613-3136

Chris W Caras
(213) 613-3303

Phillip Sample
(213) 613-3301

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