U.S. Government Credit Tenant - The GSA is an agency of the U.S. General Services Administration, representing the highest-quality credit covenant available in the market. Government occupancy eliminates counterparty credit risk. Long-Term Lease with Built-In Growth - The 10-year lease (February 2025 - February 2035) provides approximately 8.75 years of remaining term with annual CPI-linked expense reemburments, protecting purchasing power and providing income visibility. Class A Office Condominium - Fernwood is a 2007-built Class A office building featuring modern design, a central lobby, elevator, underground parking, and cedar shake exterior -- the premier professional address in Poulsbo. Limited Management Burden - Modified Gross structure with CAMS reimbursement minimizes landlord obligations. Condo structure means common area and exterior maintenance is handled through the association. Strategic Kitsap County Location - Poulsbo sits on Liberty Bay with ferry and highway access to greater Seattle. The area's growing population, high household incomes, and limited office supply support stable long-term occupancy. Premium Pricing Justified by Credit - Investment-grade government tenancy, at 6.0% GSA Suite 250 offers a compelling risk-adjusted return for institutional and private investors.